International Marketing vs Domestic Business

The primary goal of international marketing is to increase brand awareness, develop a global audience, and grow business. International marketing differs from domestic marketing in that it involves understanding the culture, language, and customs of the international audience, beyond a single country's borders.

Domestic business involves commercial exchanges within a single country, whereas international business involves transactions between two or more countries.

The two key advantages of international marketing are: 1) a broader market is available, allowing for targeting of other countries' populations, and 2) it involves at least two sets of uncontrollable variables, requiring more nuanced marketing strategies.

<p>Understanding the culture, language, and customs of the international audience is crucial in international marketing because it enables marketers to tailor their strategies to effectively communicate with and meet the needs of diverse global audiences.</p> Signup and view all the answers

<p>International marketing involves at least two sets of uncontrollable variables, whereas domestic marketing involves only one set of uncontrollable variables.</p> Signup and view all the answers

<p>International business operates under international agreements and practices, rather than local law, which requires businesses to adapt to and comply with diverse regulatory frameworks and standards.</p> Signup and view all the answers

<p>politic al risk, cultural differences, changes in fashion and style of foreign customers, sudden war, changes in government rules and regulations, communication challenges due to language and cultural barriers</p> Signup and view all the answers

<p>To raise revenue, protect domestic industries, or exert political leverage over another country</p> Signup and view all the answers

<p>They can make domestic industries less efficient and innovative by reducing competition, and hurt domestic consumers by pushing up prices</p> Signup and view all the answers

<p>Because forces outside the firm's traditional boundaries are increasingly important in determining its success</p> Signup and view all the answers

<p>Higher consumer prices, monopoly, and tensions between industries or geographic regions</p> Signup and view all the answers

<p>It requires international marketing organizations to compete with both domestic and international competitors</p> Signup and view all the answers