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"International Marketing is about convincing people to buy a product/service that they didn't know they needed".

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"International Marketing is about convincing people to buy a product/service that they didn't know they needed".
Answered Same DayDec 21, 2021

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Tanmoy answered on Dec 22 2021
53 Votes
"International Marketing is about convincing people to buy a product/service that they didn't know they needed".
International marketing is the process of reaching the consumers universally by planning, pricing, promotion and distribution of product and services of a local company. This helps them to expand their business and also make their presence and products available internationally to earn profits. The best example is Procter and Gamble (P&G) and Coca-Cola. Both these companies are American companies with its presence globally through its efficient distribution of products and services.
For reaching the consumers globally the international market penetration strategy are:
Demographics: Here the company tries to segregate the market through age, race, gender, income level, traditions and on the basis of several other factors.
Identifying target customers: Targeting customers based on demographics and geographies helps the company to identify and target the individuals of a particular country along with the people of the country neighbouring it with the product they want to venture into.
Cost-benefit projections: Companies tries to make a feasibility study by analyzing the revenue to cost incu
ed. If the study generates a profit, the company enters the country.
Localization: This strategy involves targeting the targeted consumers taste, preferences and adapting to their culture. This also involves interacting and involving the local distributor for making the product available to the consumers. It also involves providing information of their...
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