The Role of International Marketing in International Business Strategy PDF

The role of international marketing in international business strategy Dr. Nguyen Hoang Tien, Phan Phung Phu and Dang Thi Phuong Chi Abstract International marketing has never been more important or stronger as world trade has grown exponentially in the past few decades. The rapid expansion of g...

The role of international marketing in international business strategy Dr. Nguyen Hoang Tien, Phan Phung Phu and Dang Thi Phuong Chi Abstract International marketing has never been more important or stronger as world trade has grown exponentially in the past few decades. The rapid expansion of globalization has been strongly developed with billions of new customers and new competitors in the world market from countries like China, India and the former Soviet Union, along with improvements. Revolutionary in communication and transport, and further economic liberalization. Growing rapidly in emerging markets and increasing access to a range of communication channels. Giving new customers more access to the many benefits international marketers provide to quality of life better. The study will demonstrate how the role of international marketing will affect and interact in international business. Keywords: International marketing, international business, business strategy 1\. Introduction As marketing interests increasingly stand out as an orientation that everyone in the organization shares as a process that all functions participate in implementing, an important issue that arises is the role of the next function. Marketing. Specifically, what role should the marketing function play, and what is the value of the marketing function, if any, in a strong market-oriented organization? The authors (Moorman, Christine; Rust, Roland T; 1990) 1101 argue that while a company\'s undisputed market orientation is important, marketing functions must play an important role in managing a number of important connections between customers and key company factors, including connecting customers to products, providing services, and financial accountability. Authors collected data from managers across six business functions and two time periods related to marketing roles, market orientation, the value of marketing functions, and perceived company performance. The results show that the marketing function contributes to the perception of solid financial performance, customer relationship performance, and new product performance beyond the company\'s market-driven interpretation. Market value, in turn, is found to be a function of the extent to which it develops knowledge and skills in connecting customers with products and to financial accountability. For service companies, the value of marketing function is also positively related to the customers\' marketing ability to provide services. Looking extensively in literature and marketing practices, it seems that over the past ten years there has been a movement towards thinking of less marketing as a function and more as a set of values and rules. Process that all functions involved perform. In this view, marketing becomes everyone\'s job, able to diffuse the role of marketing function but increase the impact of marketing according to Greyser. As McKenna notes, \"Marketing is everything and everything is marketing\". The empirical literature on market orientation is the most profound sign of this change in perspective. Although it has been determined in a variety of ways, some empirical studies of business organizations show that an organization-wide market orientation has a positive effect on the financial performance of businesses and real state of their new products (Day and Nedungadi 1994; Deshpande, Farley and Webster 1993) \| 1993; Kohli, Jaworski and Kumar 1993 (6; Moorman 1995; Narver and Slater 1990). Similarly, significant advances have been made in conceptualizing key capabilities exhibited by market-oriented companies (1990, 1994; Kohli and Jaworski 1990; Webster 1992, 1997) (7, 121, As marketing profits increasingly stand out as a set of processes that all the functions involved in implementing, an important issue arises that is the specific contribution of the marketing function. Specifically, what role does marketing function, if any, play in a market-market-oriented company? Reflecting this concem, the 1996-1998 research priorities of the Institute of Marketing Sciences included studies on \"Marketing as a marketing related function as a process and vision in the future\" according to Pros Research Institute of Marketing Sciences 1996\. In response, Day (1997) suggests that many people find a balance between \"developing deep functional expertise through specialization versus subordinate functions for groups that manage link processes.\" Similarly, Workman, Homburg and Gruner (1998) refer to this as the \"cross-functional dispersion of marketing activities\" and predict that it will lead to a reduction in demand for a follow-up function. strong marketing. In this article, we debate the value of an organization\'s broadly market-driven marketing function. These arguments show that marketing functions can and should coexist with market orientations and the effectiveness of market orientations depends on the presence of powerful functions including marketing. To make our case, we present a framework that defines the scope of marketing function and how it opcrates in the multifunctional world of a market-oriented company. At the heart of this framework is the idea that the marketing function facilitates the link between customers and the various important processes within the company (Day 1994) I!. We examine both the value of marketing function and its scope in large-scale empirical efforts. 2\. Theoretical framework International marketing is defined as the conduct of a business to plan, price, promote and drive a line of goods and services to customers or users in more than one country to create a profit. The only difference between the concept of domestic marketing and international marketing is that in the latter case, marketing takes place in more than one country. Whether it comes to international or domestic marketing, the goal of marketing is the same for every marketer. The goal is to make a profit by selling a product or service where there is a need for that product or service. International marketing includes export marketing, local marketing, multinational marketing and global marketing. Each marketing area will have different roles international business strategy. Regarding export marketing, it is helping businesses exporting to foreign markets, which will capture customers\' needs to help businesses orient how to produce products. Just as Creflo Dollar once said \"Sell something that people want to buy\" before marketing make sure your product is what people want. Marketing in the host country is a marketing activity within the countries where the business has penetrated helping businesses understand the foreign market to make business policies appropriate to the environment it has penetrated. Multinational marketing is an interactive collaboration of of marketing activities in different business environments to help businesses make specific plans and control carefully. The point to evaluate the success of multinational marketing is the reputation of the brand, the product brand of the business that people remember and believe in, which will show the business network in places where it is sustainable. And with global marketing including all marketing strategies, applying the same marketing strategy international companies in all markets on a global scale, L\'Oréal Group has applied the strategy. This product, when penetrating into the Chinese market, realized that other Acorporations such as Korea, Japan understood the concept of Chinese women. \"Just white skin, all defects are covered\" is a motto grasping that demand. L\'Oréal has launched product lines specializing in making skin whiter such as: foundation, concealer to help modern women living quite busy lives today save their time. When launched, marketing was just a simple concept in the field of commerce. It only includes business activities to consume goods and services available for profit. The application of marketing measures has facilitated the development of commodity production. With its advantages, marketing is not only promoted in the commercial field but also increasingly applied in other non-commercial fields. International marketing plays a very important role \"as a center for researching, forecasting and designing strategies for the sale of products in the market of importing countries\". Where adapting brand products, promoting and collecting information is difficult. Marketing brings customers and manufacturers closer together, getting feedback from customers to change to meet the maximum needs of customers, one of the most effective weapons of competition on international market \"19. The expansion of operations to the world market allows companies, large or small, to increase their rates of profit by not being available to domestic firms. Companies operating internationally can achieve greater sales through the transfer of their own capabilities. Distinct capabilities are defined as the unique strengths that enable companies to achieve These are often expressed in products that other companies have difficulty following or imitating. As such, the unique capabilities that form the basis of a company\'s competitive advantage make it possible for the company to lower the cost of creating value or making a difference and setting a higher price. With valuable unique capabilities, companies can often achieve huge sales by implementing those unique capabilities and by producing products for foreign markets where the Local competitors lack the ability to produce similar products. Thanks to international activities, businesses are able to realize location-based advantages. Location advantages are advantages arising from the performance of activities that create value at the optimal level for that activity, anywhere in the world with shipping costs and trade barriers allowed In addition to the important issues of marketing organization, this topic also raises important and theoretical questions regarding the value of what is called shared or integrated knowledge and skills. According to Dougherty \(1992) \"Barriers explain successful product innovation in enterprises\", Lawrence and Lorsch (1967) \[81 \"The difference and integration required in organizations\". Contemporary research focusing on the value of knowledge and skills shared within organizations suggests that integrated methods are necessary because most work in organizations intersects knowledge domains and Various skills, such as product development or supply chain management. \"The ability of organizations to keep up with market trends\", according to Day (1994) Pl, This view will be consistent with the cross-functional distribution of marketing or process marketing organizations. Integration has been associated with reduced conflict, according to Frankwick et al. (1994) \"Developing trust in organizations is the formulation of strategies,\" and increasing communication within organizations. Stronger functional orientations have been found case the sharing of information within businesses. Change PR service tactics of businesses to suit the location, time and needs of using the product. Business strategy is the word that the leaders mentioned a lot in business forums. Giving smart business strategies is the natural skill that business leaders must have to bring their businesses to success. The company precisely identifies the central elements of the company in terms of: customers, products, distribution services, financial responsibility and top management. Customers refer to intermediate and final consumers who buy and / or use a company\'s goods or services. Products are widely used in this model to refer to goods or services provided by the company. Service delivery refers to ancillary actions related to the provision of goods and services by the company to customers. Therefore, even in a service business, products and delivery services are distinct; The product refers to the designed delivery (for example, insurance policy), while the service delivery refers to the level of customer effectiveness before, during and after the transaction, according to Rust, Roland T. (1995), \"Return to quality, make quality financial services accountable\". Financial responsibility refers to the links between company actions and profitability. Senior management refers to leadership and decision making throughout the organization. International strategy is a company\' strategy that implements a business strategy in all of its domestic and foreign markets, by translating valuable skills and products to foreign markets, where competitors Local competitors lack these skills or products. International business is the process of planning, organizing, leading and inspecting international business activities in order to achieve the objectives set out in the rational and economical use of available resources. Other research sites on the value of knowledge and expertise or differences. \"Organizing linkages with domestic and foreign markets, enhancing product value\* Donald R. Lehmann and Katherine (1997) \[2,4, 5, 131. Recent information provided suggests that the degree of heterogeneity among top management team members is significantly related to market share growth and profitability in the aviation industry. Bantel and Jackson found that the heterogeneity of leading group functions increased the level of innovation in banking. Reed thinks that differentiation is an important source of success in an organization that can set up barriers to competition. Other works still show an insight into the value of professional knowledge and skills in organizations. For example, in a research focused on new product development, Moorman and Miner demonstrated that higher levels of knowledge and technical skills have a positive impact on new levels of product innovation only in high environmental instability. Similarly, Dougherty states that the value of expertise and skills depends on the presence of effective habits to manage complex interdisciplinary relationships. 3. Research methodology Rescarch methodology is based on the collection of secondary data including specialized documents, scientific journals, scientific thematic reports, thereby solving research problems. With the research topic \"The role of international marketing in international business\", the data collection will better understand the role of business adaptation in enterprises in international environmental conditions. From the use of research methods can we can see a great difference between foreign and domestic markets and between foreign markets, to ensure maximum profit for international business enterprises. In addition. when collecting secondary data for analysis, it is possible to see the important role of intemational marketing in international business to help businesses grow in the international market in the long term and effectively implement the functions that power the international marketing. The methods of analyzing and summarizing experience is used to analyze data collected from specialized documents, scientific journals, scientific thematic reports of relevant topics on the role of international marketing in business strategy affecting international business results. 4\. Research results With the role of adapting the business activities of enterprises to the conditions of the international environment, stemming from the tremendous difference between the foreign market and the domestic market and between foreign markets to ensure maximum profit for the business, we studied the role of international marketing to perform in line with the following basic functions: Set up an observation system that gathers markets to identify one way quickly and accurately market fluctuations or, if possible, forecast them in advance. Establish a system to monitor the results and check the effectiveness of difficulties arising during operation due to differences in accounting environment, fluctuations on monetary and \"cultural\" differences in corporate governance. Create creative possibilities and apply changes in information technology as well as market-based techniques to cover every specific case. Performing these functions is a necessary condition for the long-term and efficient international development of enterprises. International marketing strategy to improve international marketing performance by a number of different means. Marketing decisions and actions have a major impact on changing consumer knowledge about brands. International marketing strategy can enhance a company\'s reputation and build strong brand awareness. It can also promote brand loyalty leading to certain marketing advantages, such as lower marketing costs when the customer is new and the trade leverage is greater. International marketing strategy will create trust and awareness of customers about the brand that can reduce marketing costs and maximize profits for businesses. The policy of centralized marketing support is essential for successful brands. All of these studies show that international marketing strategies can directly affect a company\'s performance. Brand orientation as a method of strategic planning influences the efforts and extent of international marketing strategies. Brand orientation influences international marketing strategy efforts, which is the basic tool for brand support. For example, product features should be consistent with the brand image for target customers in foreign markets. Advertising strategies targeting the target customers need to project the brand image that suits the psychology of the target customers. The distribution strategy must reflect the value of the brand\'s service, which does not affect brand equity; For example, selling a luxury brand at a discount store. All marketing mix decisions and strategies must reflect the brand. Several studies have suggested that the entire business should try to develop a brand. This mindset of brand orientation will influence every aspect of international marketing strategy, whereby it is always necessary for a brand to be fully and properly supported in an international market. International marketing strategy needs to be constantly changed as a result of brand repositioning in foreign markets. These changes reflect the new and unique position an international brand holds. For example, when an international brand targets a lower-income market, international marketing information needs to be modified to fit that target market. On the other hand, if a repositioned brand targets another market higher, the brand value of customer service may have to be enhanced to meet the desires of that target segment. Each brand must have a well-developed position to optimize its appeal by being recognized for the segment of users that have unique leverage. 5\. Research results Discussion Through research results, the study of international marketing is the key to achieving the business goals of the business. The goal of the business here can be buying, selling or investing in production in foreign markets that business wants to capture. International business activities enable businesses to actively and actively participate in the division of international labor and international trade exchange, making the national economy an open system, to create a bridge between the domestic economy and the world economy, turning the world economy into a place to provide inputs and consumption of outputs for the national economy in the economic system. International. At the same time, participating in the world market also helps businesses to fully exploit the comparative advantages of each country. reaching the optimal scale for each manufacturing industry, creating favorable conditions for building economic sectors. Spearheading, improving labor productivity, product quality and lowering costs, promoting the exploitation of growth factors in depth, exchanging and quickly applying new technologies, attracting investment capital. From the outside, improving the growth rate and efliciency of the national economy. International business activities are carried out in various forms such as through goods export, international business enterprises to increase foreign currency earnings to increase reserve capital, to boost revenue collection. attract domestic investment; by form of investment co-operation, attracting foreign investment capital to invest, building technical and material bases for the economy; through activities of collecting foreign currencies such as tourism, remittances to increase the revenue in foreign currencies through the number of tourists visiting; through loans from countries, credit institutions, banks around the world to supplement domestic investment capital while our internal accumulation capital is low; increase capital in foreign currencies by exporting labor and experts to countries that lack labor, rational use of resources, creating more jobs and increasing foreign currency revenue for the economy. Expand international business activities, enhance economic cooperation, science and technology transfer, giving countries with less developed economies the opportunity to improve economic structure through industrialisation, modemize the country. Creating opportunities for the distribution of domestic resources and attracting extemal resources into the development of sectors and branches of the national economy effectively, overcoming the shortage of resources for the development of the country such as capital, highly qualified human resources, modern technology, and at the same time creating conditions for domestic enterprises to reach the world market. The domestic market for developing countries is often restricted, not stimulating the growth of production. Through international business activities, the division of international labor between domestic enterprises and foreign enterprises is promoted, ensuring input and output for domestic enterprises in a stable and appropriate manner. in line with the country\'s economic development, creating conditions for the formation of strong economic groups, capable of competing and integrating into the world and regional economies. On the other hand, only through the fields of international business activities, businesses can acquire marketing knowledge, expand markets in international trade business, Increase product competitiveness. Moreover, the foreign market can provide the domestic market with elements of the manufacturing process, thereby improving production capacity, improving product quality, ensuring product competitiveness. To ensure goods stand firmly on foreign markets. 6\. Conclusion and recommendation 6.1 Conclusion In the modern economy, the role of customers and their needs are decisive for all activities and production of businesses so that marketing is defined as activities to capture. Market demand to establish measures to meet those needs, thereby bringing maximum profits to the enterprise. Thus, international marketing essentially refers to the application of principles, principles, methods and techniques of marketing in general in terms of foreign markets. It advocates that the key to achieving business success and its goal is to identify the needs and desires of key markets and distribute the products and services that the markets offer. Waiting more efficiently than competitors. For businesses, analyzing the international marketing environment is the first and very important task because the marketing environment has a direct impact on the production and business activities of each business. Therefore, it is necessary to study foreign consumers\' habits, usage and tastes for the type of products the company wants to penetrate. Not only that, marketing research is done here in addition to studying all the factors like domestic marketing research, but it also has to study political, legal, international economics, international finance and national culture. Intemational. As such, market planners must always analyze the marketing environment relevant to the operations of the business, including the internal and external environments. Doing this job well is creating a premise or a fulcrum to develop the next steps. International marketing has the following basic functions: rescarching consumption markets; set up the adaptive ability and the ability to quickly respond to the conditions of the business environment, develop business plans and monitor performance, quantify the difficulties arising in business management; propose effective measures to collect information and carry out business activities in each market. Throughout all the countries, businesses always apply international marketing strategies. However, each business applies different strategy in different ways. There are also successful businesses as well as failed businesses. Thanks to learning about international marketing strategies, companies in market have achieved certain success. These are necessary conditions for long-term international business development and high efficiency for businesses. 7\. Recommendation For strategy coming from inside or outside, forming an internal marketing strategy is a classic model, applied by many businesses on the basis of exploiting resources and strengths. However, in a changing world of the current digital age, it is very important to seize opportunities and limit external risks. Doing that  Requires differences in supply and marketing strategies to be appropriate for the local environment  Requires transfer production and marketing activities to local branches  can reduce pressure due to globalization, advanced information technology and transportation  May increase costs.