International and Relationship Marketing: Strategies, Segmentation, and Environmental Factors

Posted on Aug 13, 2024 in Economy

International Marketing

Marketing, in part, remains the same worldwide. The consumer is at the core of business decisions, and the company is dedicated to satisfying their needs. However, international marketing presents unique aspects:

  • National boundaries represent the presence of customs and tariffs.
  • Currency conversion for product or service payments incurs charges.
  • Technology influences product approval.

Domestic and international marketing strategies both aim to meet consumer needs. However, international marketing considers variations in customer typology, commercial practices, disposable incomes, risks, economics, finance, language, and culture. International marketing takes into account:

  • International statistics and variables influencing consumer behavior.
  • Demand in the international market.
  • The most suitable countries for export and comparison of business strategies.

Relationship Marketing

Relationship marketing focuses on building a continuous and mutually beneficial relationship with the client, rather than just a single transaction. Fidelity refers to the client’s commitment to regularly purchasing from the company. Relationship marketing focuses on:

  • Perception: Remaining in the client’s mind through public image.
  • Identification: Customers feeling comfortable and proud of the company or product.
  • Relation: Engaging the customer.
  • Partners: Customer and company committing to mutually beneficial growth.

The Market

A market consists of individuals with a certain income level who need or can be persuaded to purchase goods or services.

Classes of Markets and Consumer Characteristics

Markets are broadly divided into consumer markets and industrial markets.

  • Consumer markets involve transactions where the final consumer acquires goods and services. These can be further divided into:
    • Consumption markets: Goods are consumed immediately upon use.
    • Durable goods markets: Goods last for an extended period.
    • Services markets: Intangible offerings provide satisfaction.
  • Industrial markets involve companies purchasing products for their production processes.
  • Institutional markets comprise entities acquiring products and services to offer to the public.

Market Classifications

  • Nature of Product:
    • Primary sector: Farming, raw materials extraction.
    • Secondary sector: Industrial and manufacturing.
    • Tertiary sector: Services.
  • Geographical Scope: Local, regional, national, international, and global markets.
  • Competition:
    • Monopoly: Single entity controls the supply of a product.
    • Oligopoly: A limited number of suppliers cater to many consumers.
    • Perfect Competition: Numerous suppliers serve all consumers.
    • Monopolistic Competition: Many suppliers offer differentiated products.

The Market Environment

  • Auctions: Transactions managed by a buyer or seller.
  • Alhóndiga: Private warehouses where goods are offered through reverse auctions.
  • Licitación: Physical location for buyers and sellers to conduct business.
  • Simple Transactions: Conducted verbally.
  • Contractual Relations: Formalized in writing.
  • Franchises: Contractual agreements granting the right to use a trademark.

Macro-Environmental Factors

  • Demographic: Low birth and death rates, increased divorces, delayed parenthood, higher family expenditures.
  • Economic: Consumer purchasing power determined by income and employment levels. Inflation, taxes, and interest rates impact spending and saving habits. Currency exchange rates influence product prices in foreign markets.
  • Cultural: Increased female workforce participation, respect for religious and cultural values, higher education levels, emphasis on social services and life enjoyment. This results in a more educated, aware, and demanding consumer.
  • Political-Legal: Liberalization measures impacting taxation, competition, healthcare, development, and telecommunications.
  • Technological: Continuous technological advancements.
  • Environmental: Growing consumer awareness and preference for environmentally friendly products and practices.

Market Segmentation

Segmentation is the division dl market into homogeneous groups. This allows business wing “Detect plots dl k market will offer new opportunities. Choose between various groups of. -Identify and analyze the competition. Better target its own segmentation producción.Para k is valid … “The segments must be identifiable. “They must have dimensions k profitable to the company. Her features macro-k d is feasible allow your company servicio.La opt for either d d these three strategies: – Strategy undifferentiated. He addresses the overall market with a single o-fert. – Differentiated strategy. It offers its products in response to different segments d preferences. – Strategy concentrated. Try d seg-ments cover more interesting.
The application d d mark differentiated strategies will be most strongly when the mark-mix containing the specific use d d each individual trade instruments: – Segmentation by product: the market is segmented by dis-ferent models, sizes or different packaging. Segmentation by price products offered are similar and the difference may only be in the price. segmentation pattern: sell the product through d wholesalers or retailers. segmentation promotion: d communication tools can carry their message to a consumer more interested in escuxa.