Regulations Guiding International Marketing SS3 Marketing Lesson Note

Organising for International Marketing Approach to International Marketing No firm, individual, business establishment or organisation can easily step into global markets because it requires careful analysis, planning, preparation, and evaluation. One of the approaches to entering international market is to have the products and to research the export process and potential markets.Immediately marketers have completed their research, they may choose among five basic approaches for entering international markets. 

These are; 

1. Indirect exporting; This involves the use of individuals or organisations in the home country to sell the company’s product abroad. 
2. Direct exporting; This involves the sale of the company’s product abroad by the company itself. 
3. Joint venture; it’s an approach where a company can enter into partnership with a foreign company or individuals to manufacture a market products. 
4. Wholly owned subsidiary or direct investment: ,This is where the company is establish its own factory in a foreign country to manufacture and market the products. 
5. Creating a website; This is the use of Internet to market the products. 

Guiding rules and regulations for engaging in international marketing; these are 

1. The company to pay all taxes required by the foreign country. 
2. The company should not export any product that is contraband into any country. 
3. The company should obey all laws associated with the establishment of business in foreign country. 
4. The company should be politically neutral in the foreign country. 
5. All business transactions within the foreign country should be based on the country’s local currency. 
6. In case of joint venture the citizens or government of the foreign country must be a party to the business. 7 The company should not be involved in fraudulent activity which would lead to being banned by the foreign country.