International Marketing

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IMPACT OF CULTURE ON THE INTERNATIONAL MARKETING MIX

Introduction

Marketing is a continuing process of setting up and executing the marketing mix for products , services or ideas to generate exchange between individuals and organizations . Marketing tends to be seen as an innovative industry that includes publicity , distribution and selling In addition to this , it 's also concerned with anticipating the consumers ' future needs and wants , which are frequently revealed through market research (Porter , 1980 ,

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Marketing is an informative business

domain that serves to enlighten and educate target markets concerning the value and competitive advantage of a corporation and its products . The value is worth derived by the consumer from owning and using the product . Competitive advantage on the other hand is a representation that the company or its products are each doing something better than their rivalry in a way that could profit the consumer (Lazer , 1971 ,

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Elements of International Marketing Mix

Marketing mix refers to a set of controllable tools that the firm blends to produce the response it wants in the target market , as a result , it consists of everything the firm can do to influence the demand for its products (Kotler and Armstrong , 2004 ,

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The categorization of four Ps of marketing were primary introduced and recommended by McCarthy (1960 ) and includes marketing strategies of product , price , placement and promotion (McCarthy , 1960 ,

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Product

This includes all features and permutation of goods and connected services that a corporation offers to its consumers . The range of a product usually includes supporting essentials such as warranties guarantees , and support (Noergaard , 2005 ,

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This is the most significant aspect of marketing mix for two major reasons . First and foremost , products are the marketplace expression of the company 's productive capabilities for manufacturers and determine its ability to link with customers . Therefore it follows that product policy and strategy are of major significance to an enterprise , and product decisions dictate the extent and direction of corporation activity (Lazer , 1971 ,

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Secondly , the product of any association is both a component and a determinant of the marketing mix since it has an enormous power on the other elements of the mix such as advertising , personal selling physical distribution and pricing , and channels of distribution . For that reason , without appropriate product policy , a corporation can not pursue additional elements of marketing mix (Finch , 2004 ,

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Pricing

This refers to the process of setting a cost for a product and this includes discounts . The price doesn 't need to be fiscal , it can merely be what is exchanged for the product or services such as energy , time or attention

Pricing strategy is divided into two parts mainly price determination and price administration . Price determination refers to the processes and actions employed to arrive at a price for a product counting contemplation of relative prices of products within the similar line and differences in price for comparable products of differing grades...