Tuesday, July 11, 2017

Moving into International Market Process

International marketing is becoming increasing important and will likely be the main way in which people engage in commerce over the next thirty years. The world will choose between greater connection or protecting their sovereignty. Despite this choice, there will be more coordination because money is to be made in the international market.

As with each new market comes new cultures and those cultures also create different ways of looking at products and services. Any company that wants to succeed in the global market must have global awareness and be able to interact with those cultures in a way that resonates with their core customer.

Before moving into a new market all companies should go through at least a basic process of determining the best methods of reaching their target market. Failure to not do so could cost corporations a lot of investment money.

1. Conduct marketing research.
2. Determine the goals of communication.
3. Determine effective messages for the target market.
4. Determine the best media.
5. Evaluate and allocate necessary resources.
6. Complete the campaign.
7. Evaluate the campaigns success or failures.

Cateora, Graham, & Gilly (2017). International Marketing (17th Edition). Boston, MA: McGraw-Hill Higher Education

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