Author: TFSA School of Export

Company A has been doing its due diligence by researching the international environment. Its marketing team has begun researching how to develop an international marketing mix for a couple of carefully selected foreign markets. Because the international marketing mix involves the Four Ps of marketing, determining the optimal mix for each market has proved to be a major challenge. Despite understanding the Four Ps, namely product, price, promotion and place, the team has been struggling to adapt them to the international environment specific to their targeted foreign countries.

Devising an optimal marketing mix has traditionally involved finding the right combination of the “Four Ps” of marketing: Product, Price, Place and Promotion, and is an essential part of an export marketing plan. In the case of international marketing, ‘Place’ refers to in-market channels of distribution.

Every organisation engaged in researching potential markets will eventually use the information it gleans from its research in devising an export marketing plan. This process is specific to each company as it requires a good understanding of both the international environment of the markets being targeted and the company’s ability to attract sales in these markets.