International marketing simply means the sale and purchase of products and services in a market that acts as a platform for several other markets. Companies from different countries attempt to draw customers by advertising their products and services on the same platform.
The major objectives of international marketing are outlined as follows −
● To enhance free trade at global level and attempt to bring all the countries together for the purpose of trading.
● To increase globalization by integrating the economies of different countries.
● To achieve world peace by building trade relations among different nations.
● To promote social and cultural exchange among the nations.
● To assist developing countries in their economic and industrial growth by inviting them to the international market thus eliminating the gap between the developed and the developing countries.
● To assure sustainable management of resources globally.
● To propel export and import of goods globally and distribute the profit among all participating countries.
● To maintain free and fair trade.
International marketing aims to achieve all the objectives and establish a connection among the nations that participate in global trade. Establishing a business in one’s home country has limited restrictions and demands but when it comes to marketing at international level, one has to consider every minute detail and the complexities involved therein. In such instances, the demand grows as the market expands, preferences change and the company has to abide by the rules and regulations of two or more countries.
Some basic modes are followed to enter into the global market and the organizations planning to expand their business globally need to know some basic terms. These have been discussed in the next chapter.