International Marketing and Starbucks

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The response addresses the queries posted in 1174 words with references.

//Before scripting about the international marketing for Starbucks, we have to understand the fundamentals of international market. It will help in understanding the activities involved in 'International Marketing'. The basic elements that must be considered for developing and marketing products will also be discussed.//

Fundamentals of International Markets

International marketing involves all the activities that form the part of domestic marketing. An enterprise engaged in the international marketing has to correctly identify, assess and interpret the needs of the overseas customers and carry out integrated marketing to satisfy those needs (Ramaswamy & Namakumari, 2007). The elements that must be considered when developing and marketing products are:

Ø Identify the potential market: The first step in the marketing is to identify the potential market where the firm has to emphasize. It is due to the fact that any particular product cannot necessarily be demanded in all the market (Sharan, 2005). For example, if the company is manufacturing snowboards, they will not be demanded in a country with no snowfalls. Thus, it is important to market those products, which are in demand.

Ø Identify the demand: After the identification of the market, it is necessary to estimate the size of the demand in a particular market (Sharan, 2005). This will help to know the demand of the product. For example, if the product has a greater number of features, the customers would have greater satisfaction or utility and its share would also be large. It is important to find out the substitutes available in the market. By identifying the demand, the company would be able to analyze the different economic and non-economic variables obtained from a particular market (Sharan, 2005).

Ø Proper selection of distribution channels: It is important for the company to adopt the proper distribution channels to promote the products or services. The channels of the distribution may be direct or indirect (Ramaswamy & Namakumari, 2007).

Ø Environmental and cultural dynamics: It is imperative to ...