Comparison between international and domestic marketing

transcript

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

4-Nature of Customers

• ALMOST SAME

Domestic Marketing

• VARIATION IN CUSTOMER TASTE & PREFERENCES

5-Capital Requirement

• LESSDomestic Marketing

• HUGEInternational

Marketing

6-Languages & Culture

• ONE LANGUAGE & CULTURE

Domestic Marketing

• MANY LANGUAGES AND DIFFERNCE IN CULTURES

7-Role of Politics• POLITICAL

FACTORS ARE OF MINOR IMPORTANT

Domestic Marketing

• POLITICAL FACTORS PLAY A VITAL IMPORTANT

8-Financial Climate

• UNIFORM FINANCIAL CLIMATE

Domestic Marketing

• VARIETY OF FINANCIAL CLIMATE

9-Knowledge Requirement• MANAGEMENT KNOWLEDGE IS REQUIRED

Domestic Marketing

• SPECIFIC MANAGEMENT KNOWLEDGE AND COMPETENCE IS REQUIRED

10-Product Planning & Development

• ACCORDING TO DOMESTIC MARKET

Domestic Marketing

• ACCORDING TO FOREIGN MARKET

11-Familiarity• WELL FAMILIARITY WITH DOMESTIC MARKETDomestic

Marketing

• LACK OF FAMILIARITY WITH FOREIGN MARKET, RESEARCH BECOMES ESSENTIAL

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.