Page 127 - DMGT547_INTERNATIONAL_MARKETING

International Marketing

Notes 6.5 Keywords

Cross Border: This term refers to any financing arrangement that crosses national borders.
Inter-market Segmentation: This involves the detection of segments that exist across borders.

International Marketing: International Marketing or global marketing refers to marketing
carried out by companies overseas or across national borderlines.
Intra-market Segmentation: This involves segmenting each country’s markets. Here the company
entering a new market segments that market to attain greater understanding of it.
PEST: It stands for political, economic, social and technological factors.
Segmentation: The process of defining and subdividing a large homogenous market into clearly
identifiable segments having similar needs, wants, or demand characteristics.
Target Market: A target market is a group of customers that the business has decided to aim its
marketing efforts and ultimately its merchandise towards.

6.6 Review Questions

1. How to identify potential markets for the increased exports?
2. How to reach these markets with the price, promotion, distribution and product as required
by them?

3. Discuss the process of International Marketing.
4. What are the tools of International Marketing analysis?
5. “Developing a good marketing program is not good enough for success”. Elaborate this
statement.
6. Write a short note on PEST.
7. Give few examples of international market segmentation.

Answers: Self Assessment

1. Internationalization 2. Globalization

3. Crossover 4. False
5. True 6. True
7. False 8. Market
9. Political 10. Company

6.7 Further Readings

Books Albaum, G., Strandskov, J., Duerr, E. and Dowd, L, International Marketing and
Export Management, Addison-Wesley, 1989
Carlson, S. “How Foreign Is Foreign Trade? A Problem in International
Business Research”. ACTA Universitatis Upsalinsis, Studia Oeconomiae
Negotiorum, 1975

122 LOVELY PROFESSIONAL UNIVERSITY