International Marketing
Week 1
Introduction to International
Marketing
Dr Daniel Osei Yeboah
Learning Objectives
By the end of this lecture, students will be able to:
▪ Define international marketing and its scope.
▪ Explain the importance of international marketing in the global economy.
▪ Differentiate between domestic and international marketing.
What is International Marketing?
▪ International marketing involves planning and executing marketing strategies
to promote goods and services across national boundaries.
▪ Planning, creating, promoting, and distributing products or services across
international borders to meet the needs of global customers.
▪ It involves adapting marketing strategies to fit different cultural, legal, political,
and economic environments in various countries or regions.
Key Aspects of International Marketing
▪ Market Research: Understanding the target markets' cultural preferences,
consumer behaviour, economic conditions, and competitive landscape.
▪ Product Adaptation: Modifying products to meet local tastes, preferences,
regulations, and standards.
▪ Pricing Strategies: Setting prices that reflect local purchasing power,
competition, and currency exchange rates.
▪ Promotion and Advertising: Adapting marketing messages and campaigns to
resonate with local audiences while considering cultural sensitivities.
Key Aspects of International Marketing Cont’d
• Distribution Channels: Selecting and managing channels to efficiently
deliver products to international markets.
• Legal and Ethical Compliance: Ensuring all marketing activities adhere to
the laws, regulations, and ethical standards of the host country.
• Cultural Sensitivity: Recognizing and respecting cultural differences to avoid
miscommunication or offense.
Scope of International Marketing
▪ Economic Growth: Stimulates national economies by encouraging production
and innovation.
▪ Global reach: Engaging customers worldwide.
▪ Multi-national branding and product development.
▪ Cross-border trade and investment.
▪ Addressing global challenges like competition, regulations, and sustainability.
Importance of International Marketing
▪ Economic growth: Stimulates global trade and innovation.
▪ Market expansion: Access to larger customer bases.
▪ Cultural exchange: Promotes understanding and cooperation.
▪ Corporate growth: Increases revenue and profitability.
▪ Diversification: Reduces dependency on a single market by spreading risk
across multiple regions.
▪ Innovation: Encourages companies to innovate products and services to
meet diverse customer needs.
Domestic vs. International Marketing
Aspect Domestic Marketing International Marketing
Scope Within a single country Across multiple countries
Uniform cultural, legal, and Diverse and complex
Environment
economic conditions conditions
Competition Local competitors Global competitors
Adapted to different
Strategy Standardized
markets
Factors Driving International Marketing
▪ Globalization: Increasing interconnectivity of economies.
▪ Technology: Advances in communication and transportation.
▪ Trade Agreements: Reduction of trade barriers (e.g., WTO, NAFTA).
▪ Demand: Growing middle-class consumers in emerging markets.
▪ Competitive Pressure: Need to compete globally.
▪ Saturated Domestic Markets: When domestic markets reach maturity,
businesses seek international markets for growth.
Challenges in International Marketing
1.Cultural differences and language barriers.
2.Political and legal complexities.
3.Economic volatility and exchange rate risks.
4.Logistics and supply chain management.
5.Ethical and sustainability concerns.
Case Study: Coca-Cola
• Overview: Coca-Cola’s global operations span over 200 countries.
• Key Points:
• Adaptation: Tailors products to suit local tastes (e.g., less sugar in some regions).
• Economies of Scale: Leverages global distribution networks to reduce costs.
• Challenges: Faces criticisms regarding water usage and environmental impact.
• Discussion Question: What strategies make Coca-Cola successful
internationally? What challenges does it face?
Discussion Question
▪ What are some examples of international brands that have succeeded or
failed in adapting to different markets? Why?
THANK YOU
Questions and answers
