Marketing: Marketing and International Marketing Essay

Submitted By Zack94
Words: 759
Pages: 4

Zack Musser
Period 1
International Marketing Essay When first starting this project, I learned about the European Brand Institute, the exclusive partner of the European Brand Institute Review which has two decades of proven experience in the field of trademark and IP valuation. By reviewing the E Brand website, I learned much about brands that I did not know before. I learned that valuable brands contribute not only to the value of companies, but also to the prosperity of national economies. I also learned that a strong brand proves its expertise by expanding continuously upon a business, as well as providing input to the national and international standards of that business. I also learned about market entry strategies. A market entry strategy is the planned method of delivering goods or services to a target market and distributing them there. There are seven different types of market entry strategies but the one I took the most interest in was franchising, an arrangement where one party grants another party the right to use its trademark or trade-name. When it comes to franchising, there are quite a few pros and cons involved. By far, the biggest advantage of buying into an established franchise is the strength of the brand and loyalty of its customers. Customer loyalty ensures that a brand will not disappear and become unsuccessful. The next most important thing I learned about through this project was the Marketing Mix, a business tool used in marketing and by marketing professionals. The marketing mix is often crucial when determining a product or brand's offering, and it often goes hand-in-hand with the four P’s of Marketing: price, product, promotion, and place. In general, many consumer products can be categorized as convenience goods, for which consumers are willing to invest very limited shopping efforts. Thus, it is essential to have these products readily available and have the brand name well known. Shopping goods, in contrast, are goods in which the consumer is willing to invest a great deal of time and effort. The research I conducted during this product has shown me many similarities and differences between marketing here in the United States and foreign marketing. Supply and demand differs greatly between us and any foreign country, meaning that consumers in a foreign country may desire a certain good more than the consumers here at home, because that certain good may not be readily available in their country. It is important to take these differences into account, because supply and demand for certain goods will be different everywhere you go. Some people may want a specified product in one area, while people from other areas may demand a product that it is completely different. One of the most controlling factors of international marketing is management. It is very important for managers to recognize the differences as well as similarities in buyer behavior. Many mistakes can occur if managers fail to realize that buyers differ from country to country. It is