Discuss International Marketing and Global Marketing.

In International marketing, the product is sold all over the world by making modifications to suit each target market. For example, Knorr soup has different flavours for Asian markets where spices are preferred.

In global marketing, a same product is sold all over the world. For example, an iPod.

Definitions –
International Marketing – International marketing refers to designing and executing marketing strategies for achieving the organisations objectives in an international market or markets.

The definition is same as that of “marketing” except that the efforts are directed towards international markets to achieve the organisations objectives.

Marketing Strategy involves decisions on which markets to target and how to position products as well as the organisation in the minds of the existing as well as potential customers in relation to the competitors.

It gives clear guidelines on how the marketing objectives will be achieved.

 The Marketing strategy consists of –

1) Target Market, Market Offering (Product decision), and allocation of resources
2) Marketing objectives for the Target Market
3) Marketing Program (Marketing Mix, 4P’s)

The difference in implementing various marketing decisions in domestic or international marketing is relative to the environment in which the marketing plans are implemented. Most of these environmental factors are uncontrollable – political, climate, consumer preferences, government controls and policies, competition, level of technology, etc. The key for the marketer is to study these forces and adapt to them for successful implementation of marketing plan. Apart from studying the environmental factors, the organisation should do the internal capability assessment to ensure that they have the resources for going international. These resources refer to financial strength as well as the capability of the staff.

Global Marketing – Global marketing refers to a standardised strategy for all the markets across different nations to achieve the organisations objectives. Global marketing is more efficient as the costs on research & development, designing products, production, and running promotion campaigns for each target market are minimised.

International and Global marketing carry their own share of risks. Due to cultural and other environmental factors, the same marketing program can have negative outcomes. For example, an organisation from the US used the same packaging strategy of having a picture of a baby on the package of its product. In that particular target market, the customers had an understanding that the contents of a package are shown on the package in the form of a picture. In certain countries, children are forbidden to endorse any product. So an organisation cannot have a child wearing clothes with its logo, etc. in advertisements. When Pepsi entered the Chinese markets, they translated their slogan, “Pepsi Brings You Back to Life” pretty literally. The slogan in Chinese actually meant, “Pepsi Brings Your Ancestors Back from the Grave.”

A successful product in one market can be launched without any modification in a new market if the preferences of the customers are the similar. For example, iPod was launched in new markets without any modifications.

The organisations should adopt the best option which helps is fulfill its objective.