Digital Marketing

  Define Ethnocentrism “Ethnocentrism in marketing refers to  the preference of products from one's own home country rather than purchasing items  from other countries. It can also refer to the way a company markets its products” To define ethnocentrism, we should understand that it is something that is just about as natural as breathing. It is a natural part of being human and comes as a natural consequence of our tendency to separate ourselves into tribes. We say you’re ethnocentric when you believe that your ethnicity and culture are superior to those of others. Perhaps the greatest example of ethnocentrism is the case of explorers going to new found lands. The anthropologists, missionaries, colonialists, and explorers who would come into contact with the indigenous tribes of people in these lands would often describe them as primitive. But what standards were they using to make that judgment? They would, of course, use the culture and lifestyle of Europe as it was...

  Protectionism Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.   What is Protectionism? Protectionism is the practice of following protectionist trade policies. A protectionist trade policy allows the government of a country to promote domestic producers, and thereby boost the  domestic production of goods and services   by imposing tariffs or otherwise limiting foreign goods and services in the marketplace.   Protectionist policies also allow the government to protect developing domestic industries from established foreign competitors.   Types of Protectionism Protectionist policies come in different forms, including: 1. Tariffs The taxes or duties imposed on imports are known as  tariffs . Tariffs increase the price of imported goods in the domestic market, which, consequently, r...

    International Marketing Task: The activities that take place on a marketing platform that has recently been established outside the home country or parent country are known as  international marketing tasks . These tasks include the following operations − ·         Observing and acknowledging customers’ buying behavior. ·         Adapting to the changes in market trends. ·         Identifying competitors and acquiring the required information about them. ·         Acquiring knowledge about products. ·         Conducting a Political, Economic, Social and Technological analysis, that is,  PEST analysis . ·         Practicing SWOT analysis ·         Selecting the right promotional mixture: Pricing, Promotion...

DEFINITION:  International Marketing is  a phase in which domestic companies have the capacity to produce goods to sell abroad on persistent basis and have the possibility to operate globally as well . Discuss the four phases of international marketing involvement. The levels of involvement are not same for all the firms. It varies from firms to firms depending upon its internal and external factors. Internal factors are monetary and non-monetary resources and external factors are govt. policies and market potential.   After a company decides to enter into international market, it must decide the degree of marketing involvement. A firm may get itself involve in foreign marketing in any of the five following ways   (1)    No Direct foreign marketing (2) Infrequent foreign marketing, (3) Regular foreign marketing,  (4) International marketing, and    (5) Global marketing .  The level of involvement differs in every company, as it depend...