BUS615: International Marketing

The decision to expand operations on a global scale involves many factors, which can vary from country to country. Marketing in the US is very different than marketing in other nations, and companies need to explore these factors before taking steps to expand. For example, competition in one nation may be quite different from competition elsewhere. This can impact a company's marketing campaign and require them to adjust their messaging and approach for each location. Trade between countries can also impact the products and services that are sold across the globe, and rules and regulations will vary as well. In spite of the challenges that companies face when marketing on an international scale, the benefits are many, and the more knowledgeable an organization has about a country's markets, the greater its chance of success. Read this chapter and begin your exploration of the factors involved in marketing around the world.

Countries that experience rapid growth and development with lower per-capita incomes and capital markets that are less mature than those in developed countries are called emerging markets. Examples of emerging markets are the BRIC countries (Brazil, Russia, India, and China) and GIPSI countries (Greece, Ireland, Portugal, Spain, and Italy). Marketing in an emerging country market is likely to be more challenging than in a developed market since marketers often face political instability, less advanced communications technology, and consumers with less disposable income. Read this chapter to learn more about developed, developing, and emerging economies.

This reading gives a good overview of the business market, where organizations sell products and services to other businesses, governments, and institutions for use in their own business operations.

Here, we consider how B2B customer interactions, typically long and complex buying processes that tend to be more relationship-based, differ from B2C interactions.

Companies involved in international marketing have to deal with taxes, duties, or tariffs on goods bought from or sold in other country markets. Being aware of multilateral and bilateral trade agreements between your country and other nations is essential since those agreements help level the playing field among countries by reducing tariffs or making it easier for businesses to import and export. Bilateral agreements are trade pacts made between two countries. Three or more nations take part in multilateral agreements, which makes them harder to negotiate. A country can be part of a multilateral trade agreement while also participating in bilateral trade agreements with many other countries. The World Trade Organization (WTO) is an important organization involved in ensuring the efficient flow of trade. The WTO works with countries to negotiate the terms of a trade agreement, and once an agreement is established, it helps enforce the agreement. Global financial institutions like the International Monetary Fund (IMF) and the World Bank also facilitate international trade. The IMF has 189 member countries and works to foster global monetary cooperation among its members. The World Bank provides loans and grants for capital projects to the governments of poorer countries. Read this chapter, which discusses the evolution of international trade.

Technology has transformed the business landscape, especially since the start of the 21st century. No matter a company's size, technology has become an integral component for most organizations, particularly in the development of management and marketing information systems and company websites. Technology has been of great help to marketers in better understanding their customers' preferences, behaviors, and purchase trends, allowing them to design the most effective marketing strategy based on this intelligence. Meanwhile, the internet has resulted in the development of social media platforms like Facebook, enabling networking among consumers and with organizations that profoundly affect how marketers interact with their customers. The internet has also enabled the boom in electronic commerce (e-commerce) and the emergence of many online marketers, from Amazon to Etsy. This chapter discusses how e-commerce and e-business have increasingly become necessary components of business strategy and strong catalysts for economic development. However, technology continues to evolve, and organizations must keep pace to maintain their competitive edge.

Read this chapter, which discusses the importance of social media advertising for companies when communicating with their target markets.