Basic Characteristics of International Marketing.docx -...

Answer the following questions:
1. What are the basic characteristics of international marketing? Describe it.
Answer: The basic characteristics of international marketing are consists of;
Broader market is available . If there is wide platform that is available for marketing and
advertising products and services there's no limitation to some precise local market or for
people residing in a particular place, region or country and people might participate it in.
Involves at least two sets of uncontrollable variables . At the global level, all the companies have
to face uncontrollable variables such as geographical factors and political factors from different
countries and a company need to learn to deal with these variables.
Requires broader competence . International market requires more expertise and special
management skills and wider competence to deal with various circumstances and handle
different situations like changes in the strategies of the government, the mindset of the people
and many other such factors.
Competition is intense. Competition in the market is always very tough especially for developed
and developing countries in terms of different standards and unequal partners. But before
competing internationally, the home countries itself compete in the market and the others as
well.
Involves high risk and challenges . Risk and challenges come in form of political factors, regional
and cultural differences, changing fashion trends, sudden war situation, revision in government
rules and regulations and communication barriers. The nature of international marketing is
dependent on various factors and conditions and above all and tends to ensure balanced import
and export to all countries big or small, rich or poor, developed or developing. It is also a
predefined process which is directed towards designing and delivering products based on the
demands from the overseas costumers.
Large-scale operation . It involves relative amount of labor and capital to cater to the needs such
as transportation, and warehousing.
Domination of multinationals and developed countries. The organizations apply it's efficient
and effective business practices to all their business operations. They have stable position and
with their global approach find themselves fitting into the arena of international marketing.
International restrictions. The tariff and non-tariff constrains are regulated because different
countries follow different regulations. All nations tend to rationally abide by tariff barriers and
all the imports and exports participates in international marketing follow some restrictions in
foreign exchange.
Sensitive character . International marketing is highly sensitive and flexible. The demand for a
product in a market is highly influenced by political and economic factors that can create as well
as decrease the demand for a product.