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The main difference between international marketing and domestic marketing - Essay Example
Author : dedrick27
Pages 4 (1004 words)
The basic objective of the proposed marketing mix is to de-risk the dependency of the tourists coming from US and Japan.It is recommended to focus on markets and also on tourists coming from other countries like India,South Africa and Brazil as industries like Insurance,Information Technology are booming in these countries.
With an essential objective of de-risking, it is proposed to focus particularly on countries like Brazil, South Africa and India where the economy is booming and also sectors like Insurance, Information Technology (IT) and Information Technology Enabled Services (ITES) are developing like never before.The main difference between international marketing and domestic marketing is that they differ in terms of the trading systems followed. Lot of other factors also differ in international market like economic conditions, political-legal and cultural conditions. The first and foremost factor under consideration in international markets is the trading system being followed in that particular country. The restrictions and regulations of the trade system differ in each and every country. Tariffs, quotas, exchange controls, embargoes and non-tariff trade barriers are some examples of trade system restrictions and regulations. Next importance is given to the role of economic environment. The Industrial structure and the income distribution are the two important economic factors that reflect the popularity of the market in the selected country. Industrial structure is nothing but the infrastructure development of the country and income distribution refers to how the income is distributed among the people of the country. Basic marketing strategies that are used in the domestic market may not suit the international market because of all the above mentioned differences and disparities. ...