Table of Contents
- 1 What are similarities and difference between international and domestic marketing?
- 2 What are the similarities between domestic and international businesses?
- 3 Which of the following best describes international marketing?
- 4 What are the strategies for entering foreign markets?
- 5 What are the similarities in internal and international trade?
- 6 Which of the following defines international marketing?
- 7 What’s the difference between domestic and international marketing?
- 8 How is South Korea similar to the US market?
What are similarities and difference between international and domestic marketing?
Comparison Chart
| Basis for Comparison | Domestic Marketing | International Marketing |
|---|---|---|
| Capital requirement | Less | Huge |
| Nature of customers | Almost same | Variation in customer tastes and preferences. |
| Research | Required but not to a very high level. | Deep research of the market is required because of less knowledge about the foreign markets. |
What is the difference between domestic market and international market?
Domestic marketing refers to carrying out marketing activities within the national boundaries. International marketing refers to carrying out marketing activities outside the national boundaries also.
What are the similarities between domestic and international businesses?
Important similarities between international business and domestic business!
- Satisfying the basic needs of the consumers is the prime importance: ADVERTISEMENTS:
- Creation of Goodwill: It is necessary in both the markets for this:
- Research and development:
- The technique of marketing: i.e., non-human factors such as:
What is the difference between local and international market?
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.
Which of the following best describes international marketing?
Which of the following best defines international marketing? It consists of the activity, institutions, and processes across national borders that create, communicate, deliver, and exchange offerings that have value for stakeholders and society.
What are examples of domestic market?
1. Wholesale Trade: Purchasing goods from manufacturers in bulk and selling them to intermediaries or end customers. 2. Retail Trade: Purchasing goods from wholesalers and selling them to consumers in small quantities.
What are the strategies for entering foreign markets?
There are several market entry methods that can be used.
- Exporting. Exporting is the direct sale of goods and / or services in another country.
- Licensing. Licensing allows another company in your target country to use your property.
- Franchising.
- Joint venture.
- Foreign direct investment.
- Wholly owned subsidiary.
- Piggybacking.
What are the similarities between interregional and international trade?
In both, space factor is important and goods move from places of abundant supplies to places where they are scarce. Transport costs are involved in both. Trade is carried on by firms for the purpose of maximising profits both in international and inter-regional trade.
What are the similarities in internal and international trade?
1. Both types of trade use a medium of exchange in assessing the worth of goods and services involved. 2. International Trade and Internal Trade involve the exchange, buying, and selling of goods and services i.e they are both called trade.
What are some examples of national market?
These businesses are operating in national markets – e.g. the markets for telephones, television, groceries and fast food.
Which of the following defines international marketing?
Terms in this set (32) Which of the following best defines international marketing? It consists of the activity, institutions, and processes across national borders that create, communicate, deliver, and exchange offerings that have value for stakeholders and society. international marketing.
Which of the following defines global marketing?
Identifying the needs and wants of customers in different markets and cultures, providing a product or service to them.
What’s the difference between domestic and international marketing?
Domestic marketing refers to carrying out marketing activities within the national boundaries means it refers to doing marketing in local market and it’s scope is limited. It requires less investment as compared to international marketing. There is one nation, same language and one culture. In domestic marketing only one currency is used.
What are the risks and challenges of international marketing?
The risk involved and challenges in case of international marketing are very high due to some factors like socio-cultural differences, exchange rates, setting an international price for the product and so on. The risk factor and challenges are comparatively less in the case of domestic marketing.
How is South Korea similar to the US market?
In South Korea, the market is very sophisticated and similar to the U.S. market in many ways. There is a large middle class, and the health care system is developed. The literacy rate is close to 100%, so it’s easier to communicate to the public with information.
Why do foreign markets need to be studied?
In addition, since they are catering to only the local market, they are already aware of conditions prevailing in the market. On the other hand, foreign markets need to be studied extensively because the company is not aware of the conditions prevailing in those markets. 8. Customer characteristics