International Marketing

Ultimately, every exporter is entering the international market in the pursuit of profits and growth. However, key to achieving success when exporting is being able to assess the risk posed by a particular export transaction and taking steps to mitigating that risk. Mitigating the risks of a particular export transaction could include negotiating the use of a suitable Incoterm®, selecting an appropriate mode of transport or taking out the right marine insurance cover. However, none of these do much to mitigate the risk of you not getting paid!
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Every business entering the international market is doing so in the hopes that it will be successful abroad. There are many potential advantages to selling products internationally, such as increased innovation, improved production, improved quality control, and more profit! However, the effectiveness of your export marketing will greatly influence your international success.
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Company A is in the process of researching potential market entry strategies for the international environment, as these will form an integral part of its export marketing plan. The marketing team realises the importance of this activity, as each potential market has unique threats and opportunities that need to be carefully considered.
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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.
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Company A, an aspiring exporter, has been utilising its international marketing research in the development of an export marketing plan. As soon as management began assessing the international environment, however, it quickly became apparent that the entire process would take much longer than expected.
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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.
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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.
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Before embarking on an export drive, you will need to research your business environment and figure out how to optimise your marketing efforts. Each new market will present you with brand new challenges that may require new strategies to ensure success.
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we discussed the importance of understanding the market dynamics of the country in which you plan to sell your product. Once you have that all-important step ticked off your list, your next step is to decide how you will be entering the market in question. 
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Business executives require a great deal of insight and information in order to identify the most viable markets for international expansion. Their investigations need to encompass each potential market’s international environments
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