International Marketing - Objectives

 

What is International Marketing?

International marketing is the performance of business activities that direct the flow of goods and services to consumers or users in more than one nation.

International Marketing Definition

International marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.

Objectives of International Marketing

·         Bringing countries closer for trading purpose and to encourage large scale-free trade among the countries of the world and integration of economies of different countries and thereby to facilitate the process of globalization of trade.

For Ex: A free trade agreement (NAFTA) between US, Canada and Mexico has removed most of the barriers to trade and investments.

·         Establishing and strengthening trade relations among the nations and thereby to maintain cordial relations among nations for maintaining world peace.

·         To facilitates and encourage social and cultural exchange among different countries of the world. For example in country like India we love to consume Mexican, Chinese, Italian food which is a fine example of socio-cultural exchange.

·         To provide better life and welfare to people from different countries of the world. In addition, to provide assistance to countries facing natural calamities and other emergency situations.

·         To provide assistance to developing countries in their economic and industrial growth and thereby to remove the gap between the developed and developing countries.

·         To ensure optimum utilization of resources (including surplus production) at global level.

·         To encourage world export trade and to provide benefits of the same to all participating countries.

·         To offer the benefits of comparative cost advantage to all countries participating in international marketing.

·         To keep international trade free and fair to all countries by avoiding trade barriers.

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International marketing simply means the sale and purchase of products and services in a market that acts as a platform for several other markets. Companies from different countries attempt to draw customers by advertising their products and services on the same platform.

The major objectives of international marketing are outlined as follows −

·        To enhance free trade at global level and attempt to bring all the countries together for the purpose of trading.

·        To increase globalization by integrating the economies of different countries.

·        To achieve world peace by building trade relations among different nations.

·        To promote social and cultural exchange among the nations.

·        To assist developing countries in their economic and industrial growth by inviting them to the international market thus eliminating the gap between the developed and the developing countries.

·        To assure sustainable management of resources globally.

·        To propel export and import of goods globally and distribute the profit among all participating countries.

·        To maintain free and fair trade.

International marketing aims to achieve all the objectives and establish a connection among the nations that participate in global trade. Establishing a business in one’s home country has limited restrictions and demands but when it comes to marketing at international level, one has to consider every minute detail and the complexities involved therein. In such instances, the demand grows as the market expands, preferences change and the company has to abide by the rules and regulations of two or more countries.