International marketing

International marketing (IM) or global marketing is a marketing done on international level. The International Marketing is based on strategy created in home country of company and distributed to its other offices/affiliations.Marketing, Tim McGraw-Hill In most cases it is international company level (company have offices in different countries) market identification and targeting.Joshi, Rakesh Mohan, (2005) International Marketing, Oxford University Press, New Delhi and New York  International Marketing is very similar to Global marketing.
The main difference will be the fact that Global Marketing is focusing on intercontinental point of view.
The example of International Marketing would be where an English company would like to enter Chinese market. It will be done by either developing marketing strategy in their home country that will be then introduced in new market or they will hire a company to create such a plan.

Differences between marketing and international marketing

International marketing is developed by many multinational companies on a global level. It is then send to local markets which make changes for their country and starts following new strategy. Such a way of creating marketing strategies ensures that the global brand will be following same strategy and targeting same buyers group.Kotler & Keller (2012). Marketing Management. Harlow, England: Pearson Education Limited. pp. 31–34.

 The Three Pillars of the International Strategy: Cultural Adaptation, Legal Compliance, and Economic Viability 
A company's ability to tackle diverse and complex challenges that go beyond simply changing promotional materials is what determines success in international marketing. A deep understanding of the cultural context is essential. Consumption habits, beliefs, symbols, and values ​​vary greatly from country to country; therefore, it is necessary to carefully adapt product design, packaging, and, above all, communication. An advertising message that is successful in one country may be irrelevant or offensive in another. (Cultures And Organizations: Software For The Mind, s. f.)

Political and legal administration is another key challenge. Companies are forced to modify their operating practices or offerings due to government regulations on labeling, data protection, and security standards (such as GDPR in Europe). Likewise, the viability of distribution and pricing strategies is directly affected by trade policies (tariffs, quotas) and political stability in the target market.

Finally, adaptability is a requirement in today's competitive economic environment. Distribution infrastructure (logistics and channel availability) and disparities in consumer purchasing power (per capita income) demand a review of market entry procedures and pricing strategies. The most important strategic decision—whether to homogenize the marketing mix to minimize costs or adapt it locally to maximize impact—is generally a balanced combination of both, known as glocalization. (Ghemawat, 2007)

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Category:Marketing