INTERNATIONAL MARKETING’S LEARNING MATERIALS
1. International Marketing definition?
International marketing is defined as the performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.
2. The differences between Domestic marketing and International Marketing?
Domestic marketing is when commercialization of goods and services are limited to the home country only while International marketing is the marketing which is stretched across several countries in the world.
3. Out of the 4 P's in the Marketing Mix (product, place, price, & promotion), which is the most important?
Every element has its own important role, and supports each other. Therefore, all 4 of the elements are important in marketing success.
4. What is PEST analysis? What are PEST components?
PEST stands for Political, Economic, Sociological and Technological. This analysis is used to assess these four external factors to determine how these factors will affect the performance and activities of your business in the long-term.
5.  Why STP is important to international marketing?
STP is important to international marketing for many reasons:
• Segmentation splits buyers into groups with similar needs and wants to best utilize a firm's limited resources
• Attract more customers
• Attract purchasing power
• Reduce risk in deciding where, when, how, and to whom a product will be marketed
• Keep loyal customer
• Cost saving
6. What is a good SWOT analysis?
A good SWOT analysis helps the managers focus on a strategy that takes advantage of the firm’s strengths and opportunities while avoiding its weakness and threats to its success.
7. Why marketing plan for an international market is important?

• Definition: A marketing plan is a business operational document outlining the firm’s marketing strategy and tactics.

• When a firm goes international, they have to face these problems including cultural challenges, the differences in managerial and communication styles, distance and time, currency so that a marketing plan is a very important stage of the preparatory period for entering an international market.
• Creating a solid marketing plan that can help guide you throughout the year, and help you stay focused on building the systems you determined, would support your business growth the way you want it to go. It is one of the best ways to assure your success.

8. Do you need to use PLC analysis for your market entry?
 Yes, because:
• help companies in the planning process
• take a more proactive approach to maximizing sales and profits during each stage
• minimize sales expenses
• forecast product directions on a macro level and plan for timely execution of relevant competitive moves
• reduced time to market and market entry costs
• more efficient and profitable distribution channels
• extend the lifetime of product by adapting your approach as it moves through the life cycle
9. What is 5Ms? ( đọc hiểu không cần học thuộc)

Mission: There are several ways that a company can determine what the mission of an advertising strategy should be. Quantitative measures such as increasing the awareness of the brand among a certain segment by a certain percentage can be chosen.
Money: Budget constraints are everywhere in business, and nowhere are they more evident than in small businesses. Without this, the company will not continue to grow. Even during recessions, marketing must be a priority to avoid losing market share. Having a suitable budget is an important part of the process.
Message: Advertising is a creative process. There are slogans, themes and gimmicks that try to lure the customer in. The message of an advertisement is this creative aspect. Any manner of theme can be implemented as long as it is in line with what the company stands for.
Media: This aspect of the program refers to the media that will be used to communicate the message. This can include television, radio, mail, telephone and in person contact.
Measurement: The firm must measure the effects of the program on their intended audience. This can be done by measuring sales or trying to gauge interest through research.
10. Ads & Promotion
ads pro
Definition Advertising is a marketing tool that is used to encourage or persuade audience, customers, and viewers to purchase their products.
Promotion is also a marketing technique that is used to reach consumers and create awareness of a new product or a service.

Objectives Building brand image and boosting sales. Short term sales push,
increase sales, brand awareness, provide knowledge

Time Long term Short term
Cost Expensive Not expensive
Mediums Newspapers, magazines, television commercials, radio jingles, boards, bulletins, websites, e-mail, etc. Discount coupons, free stuff, tasting, contests, events, meets, etc.
Result Slow Faster

11. Export market entry? FDI ? Franchising/licensing Definition?
Export market entry: Exporting is the process of selling of goods and services produced in one country to other countries.
FDI: Foreign direct investment is a form of long-term investment of an individual or company in one country to another country by establishing the production and business establishments.
Franchising is the specialized form of licensing in which the franchisor not only sells intangible property to the franchisee, but also insists that the franchisee agree to abide by strict rules as to how it does business
Licensing: Mean that the licensors grant the right of the intangible property to the licensee, in return, the licensors receive a royalty fee from licensee.
Joint ventures with a host country firm means a firm that jointly owned by two or more otherwise independent firms
 Benefit of export entry form
- The exporting organization is able to develop meaningful foreign relationships abroad.
- Organizations can increase sales volume, improve market share and generate profit margins that are often more favorable than in the domestic market.
- Economies of scale will increase and therefore reduce the per unit cost of manufacturing.
- Experience curve economy.
- Minimize the risk and investment
12. Standardization vs. Adaptation marketing strategies? Pros and cons?
Adaptation strategies involve changing the price, promotion and packaging of a product, or even the product itself, in order to fit the needs and preferences of a particular country.


13. Comments on adapted standardization strategy
Marketing Mix Standardization Adaptation
Product No changes are made to product/service Specific changes are made to the product/service to fit cultural characteristics
Price Fixed pricing in all international markets Prices are determined by local competitive conditions
Place Uniform channel structures Adjusting distribution
Promotion Same promotion is used in all international markets, and no changes are made Specific changes are made to promotions to fit cultural contexts