Chapters

CHAPTER 1
AN INTRODUCTION TO INTERNATIONAL MARKETING
INTRODUCTION
Managers around the globe are recognising the increasing necessity for their companies and organisations to develop the skills, aptitudes and knowledge to compete effectively in international markets. The emergence of a more open world economy, the globalisation of consumer tastes and the unabated expansion of Internet access globally all increase the interdependency and interconnections of nation economies across the globe. The need for managers to develop the skills to respond to these pressures affects companies of all sizes. In this chapter, the reader will be introduced to the concepts of international marketing, enabling them to acquire an appreciation of the complexities of marketing on an international basis and of how this activity differs from operating purely in domestic markets. In the following sections we will define international marketing, examine the important trends in the global marketing environment and introduce the reader to the international marketing strategy development and international marketing planning process.

LEARNING OBJECTIVES
After reading this chapter you should be able to:
I I I I

Explain and use the SLEPT factors to assess international markets Discuss the differences between export marketing, international and global marketing Understand the criteria required to evaluate a company’s international marketing strategy Appreciate the key steps in the international marketing planning process

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4 PART 1 ANALYSIS

THE STRATEGIC IMPORTANCE OF INTERNATIONAL MARKETING
Last year’s international trade in merchandise exceeded US$10.5 trillion and world trade in services is estimated at around