Market Entry for International Marketing Essay Example

Essays on Market Entry for International Marketing Essay The paper "Market Entry for International Marketing" is an outstanding example of an essay on marketing. International marketing involves a process where a business or a country distributes its products and services to consumers in other countries. The marketing concept is the same throughout the world but the marketing plan environment may be completely different. Common concerns in marketing for instance advertising, input costs, price, and distribution usually differ greatly in the country where the business is set up. The secret to internal marketing that will prove successful is the ability to manage, coordinate and adapt a marketing plan in an unstable and unfamiliar foreign environment (Onkvisit Shaw 2008). There are various reasons that make businesses to make a decision to explore foreign markets. The main one is to respond to orders that are unsolicited from customers within these markets. Due to the lack of these orders, companies find their way of exporting in order to l ook for an alternative market in times when domestic markets seem saturated and to make bigger in a quicker way. Although companies or states that decide to market internationally do not have a profile that is uniform, they share some common characteristics. Their exports have high potential earnings in foreign markets and are usually patented. These products have an advantage in cost or price compared to similar products or they may contain some attributes that make them more desirable to foreign consumers. Secondly, international marketing companies must be willing to make these market commitments. That is, they have to familiarize themselves thoroughly will their country of selection and understand the prospective risks or benefits of making a decision for foreign marketing (Keegan 2003).There are various factors considered before entering into an overseas market such as speed, flexibility, costs, risk factor, payback period and long-term objectives. Speed considers how fast a co mpany may wish to enter into a market, cost refers to what is involved in entering the market, and flexibility refers to how easy it will be to the preferred market. Payback period considers the time you prefer to have obtained returns after entering into the market, long term objectives determines what the company wants to achieve in its foreign market long term operations (Kotler 2008). This essay explains the factors that have resulted in organizations' internalization. It also evaluates the market entry strategies employed in moving products from home to host country with consideration of the marketing mix.The factors that have led to internalization can be explained in the theoretical approach by using the theories of the trade cycle, the orientation of the management and the comparative advantage.