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The role of international marketing in international business strategy
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The role of international marketing in international business strategy
(Tien, Phu and Chi, 2019)
INTRODUCTION
Market Orientation
- Shared by the whole organization
- Positive effect on financial performance and new products
Aim of the study
Show how international marketing affects and interacts with international business
Marketing function
- Links customers to products, services and financial accountability
- “Marketing is everything and everything is marketing” (McKenna)
DISCUSSION: BENEFITS OF INTERNATIONAL BUSINESS
For the economy
foreign currency earnings (exports, tourism, remittances), investment, jobs
Development
technology transfer, industrialization, modernization
For companies
use comparative advantages, scale, lower costs, better quality
Market knowledge
more competitive products
WHAT IS INTERNATIONAL MARKETING?
Definition
plan, price, promote and distribute goods/services in more than one country to make a profit
Diference from domestic marketing
it takes place in more than one country
Goal
same as domestic, profit by meeting a need
THE FOUR TYPES OF INTERNATIONAL MARKETING
Host-country marketing
helps understand the foreign market to adapt policies
Multinational Marketing
coordinated activities across different environments; success = brand reputation
Export marketing
captures customers’ needs to guide production
Global marketing
same strategy in all markets
Example: : L’Oréal in China (whitening products)
COMPETITIVE ADVANTAGE & STRATEGY
Location advantages
value-creating activities done where it is optimal
Business strategy elements
customers, products, service delivery, financial responsibility, top management
Distinct capabilities
unique strengths that rivals can’t easily imitate
International strategy
transfer valuable skills and products to markets where local rivals lack them
METHODOLOGY
Method
analysis and summary of existing research
Purpose
compare foreign vs. domestic markets and see marketing’s long-term role
Secondary data
specialized documents, scientific journals, thematic reports
RESULTS
Brand orientation
- Product, advertising and distribution must fit the brand image
- Strategy changes when the brand is repositioned
Effect
builds awareness, loyalty and trust; lowers marketing costs
Four Basic Function
- Observe markets and forecast fluctuations
- Monitor results (accounting, monetary and cultural differences)
- Apply IT and market-based techniques
- Needed for long-term international growth
CONCLUSION & RECOMMENDATIONS
Conclution
- Customer needs drive all business activity
- Analyze the international environment first: political, legal, economic, financial, cultural
- Study foreign consumers’ habits and tastes
Recommendations
- Adapt supply and marketing to the local environment
- Transfer production and marketing to local branches
- Reduces globalization pressure
- May increase costs
The role of international marketing in international business strategy
Julian Alejandro Moreno Contreras (Mapa 2)
Daniel mateo castilla baquero
Erick Santiago Vera niño
Santiago totena Sacristán
diego mateo delgado niño