what is internationalisation of markets? - eye on the market

byEileen Henderson

Digital Marketing Specialist

What is Internationalisation of

markets?

Follow Eileen on: LinkedIn/hendersoneileen Twitter @hendersonDMS

International Marketing

“International marketing is the performance of business activities designed to plan, price, promote and direct the flow of the company’s goods and services to consumers or users in more than one nation.”

(Cateora et al, pg.9)

Q: What do these companies have in common?

A: They used to be American companies.

(uncontrollable)Foreign

Environment (uncontrollable)

Domestic Environment

(controllable)Firm characteristics

PromotionProduct Price

Channels of distributionResearch

Environmental (uncontrollable elements)Country market A

Environmental (uncontrollable elements)Country market B

Environmental (uncontrollable elements)Country market C

Political/Legal forces

Competitive Structure

Economic climate

Structure of distribution

Level of technology

Competitive Forces

Economic Forces

Political/Legal forces

Cultural Forces

Geography and Infrastructure

The International Marketing Task

Global Awareness involves:

• Knowledge & understanding of cultures & history

• Reviewing world market potential • Having knowledge & understanding of

global economic, social and political trends (PESTLE factors)

• Tolerance of cultural differences

Stages of International Marketing

• No direct foreign marketing• Infrequent foreign marketing (surplus)• Regular foreign marketing• International marketing• Global marketing

Market Potential | Company Capabilities

References• International Business: Competing in the Global Marketplace, Charles

W.L. Hill• International Marketing, Phillip Cateora, Mary Gilly and John Graham• Principles of International Marketing (9th edition), Czinkota, Ronkainen

& Zvogbo South-Western Cengage Learning