How To Do Marketing Internationally

If your company has reached a point where it is ready to begin doing business in a foreign market then congratulations, you are one of the few

. The tricky thing about global business is that there are a lot of things which can potentially go wrong. This is because cultures and ways of doing business are not always the same from place to place. One of the most difficult things to get right is international marketing. This article is going to cover the four main aspects of marketing from a global standpoint.

First of all there is the product. The product is actually the accumulation of all the experiences a consumer has with the brand, object/service etc. Brand is of a lot importance because a strong brand in one country is something which can be used to leverage the product in a new market using brand equity. Brand equity is the additional value that a buyer gives to a product because of its association with the brand. Other things to consider here are packaging and things like warranties.

The second aspect of marketing is price. There are a lot of things that can happen and become complicated in international business because of exchange rates and sometimes to figure out all of them you will need to consult a finance professional. Some key things to watch out for are dumping laws and the grey market. Anti- dumping laws make it illegal to sell a product or service below the fair market value. Often companies will do this to be predatory and try to drive foreign competitors out of business so they can then raise their prices.

The grey market is when someone importing your products exports them to another country without your permission. Thereby lowering your prices.

The third thing to consider is distribution channels. Your mode of entry will largely determine these. If you are going to be an exporter then you will need to find some good people who can handle the containers and shipping for you. If you choose to license then you will need to hire some good lawyers to handle the legal aspects of a license.

The fourth thing is promotion. Culture differences often determine whether or not you should adapt or standardize your marketing plan. By keeping things the same you will cut costs and save time. By adapting you may achieve greater results but will have to weigh those with the costs.

by: Art Gib

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