Difference Between Domestic and International Marketing
Domestic vs International Marketing
Marketing is the efficient and effective management and utilization of a company�s resources to meet the consumers� demands and the company�s objectives. It involves selling the company�s products to satisfy the needs of consumers.
It includes planning, conception and execution of ideas, pricing, promotion, and distribution of a company�s products with the purpose of obtaining the company�s objectives and satisfying the consumers.
Marketing can be done within a local or domestic market or across national borders or in the international market. Here are some of the different features of Domestic Marketing and International Marketing:
Domestic Marketing
Domestic marketing is the selling of a company�s products within a local financial market. It deals with only one set of competition and economic issues which make it more convenient to do.
There are no language barriers in domestic marketing and obtaining and interpreting data on local marketing trends and consumer demands is easier and faster to do. It helps the company make decisions and develop marketing strategies that are more effective and efficient. The risks are also lesser with domestic marketing and it needs lesser financial resources.
Local markets are not as broad as the international market though and most companies are aiming at doing business globally.
International Marketing
International marketing is the promotion and sale of a company�s products to consumers in different countries. It is very complex and requires a huge amount of financial resources.
Every country has its own laws on business and a company that aims at entering into business in another country must first know about them. Consumer tastes and preferences may also differ so marketing strategies must be formulated to cater to the needs of different consumers.
International marketing requires more time and effort, not to mention its being very risky too. The international market is very uncertain and a company must always be ready for changes that may suddenly occur. It requires a higher level of commitment to succeed in an international market.
Summary
1. Domestic marketing is the production, promotion, distribution, and sale of goods and services in a local market while international market is the production, promotion, distribution, and sale of goods and services in a global market.
2. Domestic marketing is less risky and easier to conduct while international marketing is more risky and more complex.
3. Domestic marketing requires lesser financial resources while international marketing requires huge financial resources.
4. Domestic marketing deals with only a single market while international marketing deals with several different countries and markets.
5. Although both use all the basic marketing principles, international marketing is more challenging and requires more commitment from the company because of the uncertainty and differences in laws and regulations in the global market while domestic marketing deals only with the laws and regulations of one country.
6. Domestic marketing deals only with one set of consumers while international marketing deals with different types of consumers with different tastes.
7. In domestic marketing, the company can have the same policies and strategies while international marketing requires different strategies in the promotion of their products.
- Difference Between Mocha and Coffee - January 11, 2012
- Difference Between Verb and Predicate - January 2, 2012
- Difference Between Tropical Meteorology and Monsoon Meteorology - January 2, 2012
Search DifferenceBetween.net :
Email This Post
: If you like this article or our site. Please spread the word. Share it with your friends/family.
Thank you very much for posting this article.. It’s sooo USEFUL……… THANK AGAIN … Cheers
Thanks, I really appreciate these simple and concise summary of Intl Marketing.
Thank you so much! for posting this knowledge about “Intl Marketing” it helps me to do my assignments in International Trade Policy. thank you for this article.
this was really, really helpful.. Thank you so much!!
Nice
So useful, Thank you so much!
thankuu
It is very eassy and understoodable difference
AWESOME………………
I appreciate your contribution, its helps me in my assignment brief
thank you very much you really helped me.
really goood
I have an xam tomo.rely helpd out.. (y) dis site rocks \m/
Thanks.I’ve an exam tomorrow in International business management hence it has been very relevant to me.
This is very nice
This is very nice I like it
Thank you it really broaden my understanding of the concept.
wooow wonder full ideas
Thanks, it’s a very helpful artical
Thank you for such details of the markets. Its very understandable in grammatical statements. I am highly knowledgeable the market.i really appreciate that.
Good and useful information
I have an exam tomorrow on international marketing and it has really helped. Reading from Ghana
These is very useful for me thanks
Thanks so much.. the article here is of great importance..
Thank you so much. The infor is realy helpful, easy to undersatnd and get the concept.
with the help of Mark Hugo trading service cryptocurrency controls a huge part of my passive income flow investing in bitcoin now will be wisest thing to do especially with the current rise reach out to him via markhugo670@gmailcom for more info