International Marketing

The majority of products that we see around us on a daily basis are heavily marketed. Only a select few can afford to sell themselves as it were. These are the most expensive and the least expensive. Very expensive products do not need to spend money on advertising because their clientele seek them out. Very cheap products like salt do not need to be advertised because the need for them is so great. Individual brands may try to carve a niche for themselves but at the end of the day, salt will sell. The need to carry a marketing effort across international boundaries is more relevant now than ever before. This essay outlines some of the hurdles companies may need to overcome in this practice.

Cultural Differences

What is commonplace and normal in one culture may be completely unheard of or forbidden in another. Knowing these differences can make a huge difference in the success of an advertising campaign. Even the subtle differences in meaning that may not be picked up by a translator are important in many instances. Do not merely read the books about the other culture, speak with locals who understand it from a more immersive standpoint.

Exchange Rates

At the time of writing, the different countries of the world had not yet agreed on a single currency. This means that there are different types of money that people trade with depending on what country you happen to be doing business in. To people who are accustomed to working in their own currency, the need to translate figures into that of the country in which business is being done may need to be underscored. It shows more respect as well. There are countries that do not mind doing bushiness in American dollars or Euros but it is safer not to assume that they will.

Favored Competition

Entering another country’s market often means stepping into a local company's turf. They are likely to have a home advantage and many years head start of building up loyal clientele. At times being foreign can be an advantage especially if your own home country is associated with something exotic or luxurious. This will neutralize the home advantage of any local firms.

As so much of marketing is conducted online, the difference between local, regional and international marketing will disappear in time. The world becomes a single nation in its own way.

 
 

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