1. How is domestic marketing different from international marketing?
2. Why should businesses be concerned with international marketing?
1. Difference between Domestic and International Marketing
Domestic marketing refers the process of doing business within home country. In domestic marketing, strategy is prepared on the basis of local market competition. On the other hand, international marketing is performed across the home country. Strategy is prepared on the basis of international competition (Baker & Hart, 2003). In international marketing, marketer treat whole world as a single market. Difference between domestic and international market can be discussed as following:
Marketing Mix Strategy: Marketing mix strategy in the domestic marketing is performed on a narrow level. In domestic marketing, price, product, place, promotion, physical evidence, people and process are determined according to the domestic market trends and indicators (Baker & Hart, 2003). Contrary to this, in international marketing, marketing mix strategy is developed on the basis of international market trends and indicators.
Targeting, Segmentation and Positioning: In domestic marketing, targeting, segmentation and positioning strategies are developed according to the local demographic, behavioral psychographic and geographic variables. Contrary to this, in ...
The solution explains the differences between domestic and international marketing with a further section on the role and importance of international marketing in 675 words with references.