Doing business is increasingly global in extent today. There are several reasons for this. As technology creates leaps in communication, transportation, and financial stream, the world is becoming smaller and smaller. That’s why organizations need to change their marketing strategies to maintain the relationship. Marketing for the domestic market can be completely different from the international market and thus a dedicated International Marketing Plan should be promoted to make sure that the needs, tastes, and customs of the international audience.
According to the American Marketing Association (AMA) “international marketing plan is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”
In other words, International marketing plan explains the objectives of selling your product in a foreign market in more than one country, by companies overseas or across national borders. It’s really important to take the time to reveal a thoroughly extensive marketing strategy to get your global expansion project off to a solid start.
An effective international marketing plan provides details about your pricing structure and explains how it differs from country to country in which a company wants to sell products or services. A well-written, detailed marketing plan can serve as an invaluable resource.