International Marketing

Millions of new customers, a global brand, offices in multiple cities, these are just some of the dreams that encourage businesses to jump head first into marketing for exports. With the advent of the internet, it is easier than ever to communicate with buyers in other countries and begin your export journey. However, one of the biggest mistakes an exporter can make is marketing for exports before they are actually ready for export orders!

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.

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.

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.