MCOM IInd Year Definitions Of International Marketing Study Notes
Definitions of international marketing
We can understand the term International Marketing by definitions which are given by different scholars:
- “International marketing is the execution of all that business activities by which the goods and services can be transferred to the customers consumers of one or more countries.’
- “International marketing is the marketing which is done outside of the nation.”
- “The International marketing refers to exchanges across national boundaries for the satisfaction of human needs and wants. The extent of a firm’s involvement abroad is a function of its commitment to the pursuit of foreign markets.”
- “International marketing are transactions devised and carreed out across international borders to satisfy corporations and individuals. The focus of international on international transactions devised and carried out across international borders to satisfy corporations and individuals. The focus of international on international transactions.”
International marketing and international management
Importance of international marketing
Now-a-days international marketing is very important. It plays a vital role to developing countries. It helps developing country to improve their financial conditions.
The internationalization of business increasing since world war II. Although business has been managed across national boundaries for centuries, but during last 40 years business dealing have a worldwide scope. Corporations all over the world rapidly turned their consideration to international marketing to maintain a competitive edge in today’s dynamic economic science.
The world economy unsightly affected by the increase of internet and marketing. Todays international global marketing has been explained as the second industrial revolution.. We Can get China’s shirt, Mexico’s jeans, shoes from Italy only because of international marketing. We can drive a car which is equipped with parts. (made in different countries.)
Example: The 1992 car get controllers for their antilock brakes from germany, engine computers from spain, shock absorbers from japan and key axle parts from England wind
Shields, instrument panels, seats, fuel tanks are made in mexico. Worldwide customers.
An enjoy the services of another country because international marketing.
America exports some 20% of industrial production and sell 2 out of 5 Acres of farm produce abroad.
In 1999, United states exports of goods and services supported a total of the 4 million. U.S. jobs. From 1993 to 1999, exports accounted for approx. 80% of U.S. real economic growth. The U.S. department of commerce estimates that over 38, 000 U.S. manufacturing companies exports slightly more than 1/3 of all U.S. firms.
Many Indian companies are also heavily involved in international marketing. Other measures indicate that our degree of commitment to international marketingis relatively low. India’s share in the global trade is 8.5% only. American exports amount slightly less than 7% of our Gross National Product (GNP) compared to trading nations such as japan (15%) west Germany (2%), the United kingdom (20.50%) and Canada (29%).
The explanation for this small percentage is import the result of the large and developed nature of the domestic market in India itself. Therefore, other nations have had to involve in international marketingactivities.
Freign products are imported into that country to fill needs not satisfied by domestic producers.
By encouraging domestic companies to increase their involvement in world trade, a nation can develop its own economy.
Trade between developed and less developed nations occurs cultural differences emerge certainly the possibility for unwanted cultural change exista when world trade increaseses.
Clearly, international marketing is important to many nations for many reasons.