difference between domestic and international marketing.
Objectives of the presentation
Definition
Domestic Marketing: Marketing
activities that are focused within a country’s border.
International Marketing: Marketing
activities that are beyond domestic borders into multiple countries. Market Research Domestic: Focused on local market needs, trends and consumer behavior.
International: Requires understanding
of multiple markets, diverse consumer behaviors and varying trends. Marketing mix (4ps) Product: Adaptation vs standardization for different markets.
Price: Pricing strategies may vary based on local
economic condition, purchasing power and competition.
Place: Distribution channels differ due to infrastructure
and logistical challenges.
Promotion: Tailored promotion strategies to align with
cultural and regional differences. Legal And Regulatory Environment Domestic: Compliance with local laws and regulations.
stability, currency exchange rates and economic policies. Competitive Environment Domestic: Competitors within the same country.
International: Increased competition
from both local and global players. Strategies And Approaches Domestic: Focused marketing strategies tailored to a single market.
International: Multi-domestic, global
or transnational strategies to manage operations across different markets. Case Studies Domestic: Taj Mahal Tea celebrates monsoon season with culturally resonant billboard. Taj Mahal Tea, in collaboration with Ogilvy India, launched a remarkable billboard campaign called "Megh Santoor" to celebrate the monsoon season, which is deeply cherished in Indian culture. The billboard, measuring an impressive 210.86 square meters holds the Guinness World Record for the 'Largest Environmentally Interactive Billboard.
International: Red Bull is extremely good at making people think
it's a local brand. They do this by hosting events all around the world like their air race in the UK, Grand Prix in Indianapolis, and rally events in different locales. Red Bull also has their site and content in many languages with customized local content. Challenges And Opportunities Domestic: Market saturation, limited growth potential.
International: Market entry barriers,
cultural adaptation, but higher growth potential and diversification. Conclusion Domestic marketing focuses on a single country's market. International marketing involves marketing activities across multiple countries or global markets. International marketing is important because it opens your business to larger, international audiences. On a brand level, international marketing is an opportunity for wider exposure, product awareness, and increased sales. We personally think that international marketing is better because create a global brand presence while tailoring marketing strategies to each specific region's culture, demographics, and consumer behavior. Thank You Thank you for your attention. We appreciate your time and interest. Feel free to reach out with any questions or for further discussions.