· Cross border transactions
· Satisfaction of consumer needs
· Exchanges between transacting parties
o Dealing with international countries means that you have to be aware of other culture, economic systems, family life, etc.
Some companies would simply extend their domestic strategy to foreign countries with little of no adjustment
· International sales seen as secondary to developing domestic market
Over time country differences were recognized and firms began to develop separate marketing strategies for target country (multi- domestic marketing strategy)
· However these firms had no head office coordination between country markets
· If there is no coordination it means the company is inefficient. Communication would be beneficial and good result in good results
Emphasis is now "Global Marketing"
· Marketing activities coordinated and integrated across multiple markets
· Pursuing marketing activities in multiple countries outside of its home market
o Integration involves product standardization; identical brand names; consistent packaging and similar advertising message
o Satisfaction and exchange
o Faced with culturally diverse environments, with differing expectations and inconsistent legal systems ( ex. Environment, working conditions, technology, bribes)
· Transactions between parties
o Part of exchange, recognizing changing nature, adjusts to constantly moving target
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- Submitted On 29 Jun, 2015 06:17:49