Autor: rita • July 22, 2012 • 292 Words (2 Pages) • 496 Views
Marketing in general
In 21th century marketing has became one the most important and powerful tools that is used by companies to gain competitive advantage and sustainability. Quite recently, the term marketing has been perceived and interpreted by most as the philosophy of how to advertise and sell products and services to customers. However, marketing philosophy is more than just advertising and selling activities, it is immense subject covering numerous principles and processes, which are continuously evolving in accordance with latest perspectives of contemporary society, with an aim to create, communicated, and deliver superior value to the customer (Syed Ali Hussnain 2011). Definitions, for instance, which had been provided by The American Marketing Association (AMA) since 1948 to 2007, have been modified five times (Md. Mahabub Alom and Md. Shariful Haque 2011). Latest definition of AMA which has been approved in October 2007 states that;
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Md. Mahabub Alom and Md. Shariful Haque 2011).
International and Global Marketing
Similarly to domestic marketing, international marketing focus mainly on organizational activities which are designed to plan, price, promote, and distribute firm's goods and services to potential customers. However, the difference between domestic and international marketing is that firm's marketing activities are taking place in more than one country, in which unfamiliar environmental factors influence the differences between domestic and international marketing (Jonh L Graham, Philip R. Cateora, 2007).
Global marketing refers to marketing activities which are coordinated and integrated across multiple country markets. Coordination