4.6 - International Marketing

Question 1

what is international marketing

Answer 1

the process of marketing outside of ones domestic market

Question 2

what are opportunities of expanding and operating internationally

Answer 2

opportunities
* access to new customers (the market may be saturated)
* higher sales revenue
* (because of more production) economies of scale - lower costs
* spreading risk between different markets
* may potentially have lower costs
* international brand recognition

Question 3

threats of expanding and operating internationally

Answer 3

• initial costs of entering the market (research etc.)
• governments may not appreciate - may favour local businesses
• cultural issues
• legal differences
• exchange rate fluctuations

Question 4

what are factors to consider when entering and international market

Answer 4

• cultural differences
• legal differences
• costs
• risk
• competition
• understanding of the market
• time frame
• profitability

Question 5

pan-global marketing

Answer 5

marketing a product or service the same way in all markets

Question 6

global localization

Answer 6

adapting the marketing mix of each product to each country