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Comparison Between International And Domestic Marketing.
Presented By : Gulam Nabi Azad.MDepartment of Business Administration (International Business)Nehru Arts and Science College, Coimbatore.
A domestic market, also referred to as an internal market or domestic trading, is the supply and demand of goods, services, and securities within a single country.
According to the American Marketing Association (AMA) "international marketing is the multinational process of
1-planning and executing the conception2-pricing, promotion and distribution of ideas, goods, and services 3-to create exchanges that satisfy individual and organizational objectives."
Comparison Between International And Domestic Marketing.
The comparison between international & domestic marketing can be cited with different basis … Let’s see some of the basis on which both has compared….
1-Area Served
• SMALLDomestic Marketing
• LARGEInternational Marketing
2-Business Operations
• IN A SINGLE COUNTRY
Domestic Marketing
• MORE THAN ONE COUNTRY
International Marketing
3-Risk Factor
• LOWDomestic Marketing
• VERY HIGH
International Marketing
4-Nature of Customers
• ALMOST SAME
Domestic Marketing
• VARIATION IN CUSTOMER TASTE & PREFERENCES
International Marketing
5-Capital Requirement
• LESSDomestic Marketing
• HUGEInternational
Marketing
6-Languages & Culture
• ONE LANGUAGE & CULTURE
Domestic Marketing
• MANY LANGUAGES AND DIFFERNCE IN CULTURES
International Marketing
7-Role of Politics• POLITICAL
FACTORS ARE OF MINOR IMPORTANT
Domestic Marketing
• POLITICAL FACTORS PLAY A VITAL IMPORTANT
International Marketing
8-Financial Climate
• UNIFORM FINANCIAL CLIMATE
Domestic Marketing
• VARIETY OF FINANCIAL CLIMATE
International Marketing
9-Knowledge Requirement• MANAGEMENT KNOWLEDGE IS REQUIRED
Domestic Marketing
• SPECIFIC MANAGEMENT KNOWLEDGE AND COMPETENCE IS REQUIRED
International Marketing
10-Product Planning & Development
• ACCORDING TO DOMESTIC MARKET
Domestic Marketing
• ACCORDING TO FOREIGN MARKET
International Marketing
11-Familiarity• WELL FAMILIARITY WITH DOMESTIC MARKETDomestic
Marketing
• LACK OF FAMILIARITY WITH FOREIGN MARKET, RESEARCH BECOMES ESSENTIAL
International Marketing
12-Government Interference
• LESSDomestic Marketing
• COMPARITIVELY VERY HIGHInternational
Marketing
13-Research
• Required but not to a very high level
Domestic Marketing
• Deep research of the market is required because of less knowledge about the foreign markets.
International Marketing