International marketing or global marketing is using marketing principles in more than one nation i.e. by companies in a foreign country. It is the worldwide procedure of planning and executing the formation, pricing, advertising & distribution of thoughts, products, and services. The purpose behind doing so is to support exchanges that meet the individual as well as organizational goals.

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Importance of International Marketing

The practice of global or international marketing ensures the social, economic, and cultural development of the country. That’s the reason its significance is rising rapidly in the market world. Some of its major advantages include:

• Offer more opportunities to business than local marketing
• Increased production and profitability
• Provide tax advantages to companies
• Extend the customer base and provide market expansion abroad
• Customers enjoy the benefit of competition
• Help businesses to develop long-term trustworthy and strong relationships for better brand credibility
• Knowledge & cultural expansion
• Balance uneven distribution of the natural resources
• Promotes global peace
• Improves the brand and business reputation
• Low-cost production
• Maintain the balance of demand and supply
• Improves the living standard
• Avoids the business-related risks

Characteristics of international marketing

• Intense competition
• Flexible
• Involve more than 2 countries
• Need the use of advanced technology
• Marketing activities are carried out across the borders
• Provide opportunities along with risk
• Encourage the business growth
• Require proficient experts and large-scale actions
• The lengthy and difficult process
• Meet the needs of international customers

Modes of International Marketing

Technological advancement has made global marketing an easier and faster process. For improved marketing, businesses need to select the most effective modes of interaction/communication. It can be done over the telephone and internet, through strategic alliances, licensing, joint ventures, international distributors, etc.

The scope of international marketing

• Create and support peace among countries
• Reduce the possibilities of risk
• Provides opportunities for business growth

Factors affecting the development of global marketing

• Import
• Export
• International marketing research
• Re-export
• Commercial policies of nations and their impact
• Impact of the trade block
• Marketing laws, formalities, and policies
• Regulation on marketing activities

Career Option in International Marketing

Global marketing has a wider scope in the employment sector. A person having good expertise in this domain and great capability can make an entry into this advanced form of marketing.

Candidates seeking a career in this field can work as a sales executive, marketing manager, international marketing head, translator, business head international lead, marketing coordinator, director- international sales, or sales head international operations.

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