1. The International Marketing Mix
Four Ps of marketing
Product
Place
Price
Promotion

2. Product
new products or adaptations of existing products for cultural needs
include competitive research about products already available

3. Product
Features
Product differentiation – at least one characteristic that makes a product different from other
Marketing opportunity analysis – what is available, identify gaps.
Market segment – part of a market defined by a specific characteristic

4. Product
Branding
Most effective marketing tool available to international marketers is brand recognition or brand equity
Packaging and Labelling
preserve and protect the product
attractive & easy to display
illustrate how the product is to be used
meet labelling requirements

5. Place Location – Where will it be sold? Type of store?
Distribution/Transportation - How will it get there?
Consumer goods are usually sold through retailers and specialty channels.

6. Price priced to compete
must factor in exchange rates, tariffs and duties, transportation, insurance and profit
foreign product prices are often higher.
Economies of scale means the more products a company sells, the cheaper the average cost.

7. Promotion Display Advertising – what is the message? In what medium?
Sales – who is selling it?
Sales promotions or incentives
Foreign advertising requires expertise in that market - successful international marketing usually requires hiring an advertising agency in the foreign market.

8. Product Life Cycle Introduction
advertisements are typically informational, letting customers know about the product/service
Growth
Encourages customers to try the product
Maturity
Remind customers of brand identity
Decline
Reposition/reformulate, or remove from the market

9. International Marketing Plan
Determines the marketing mix appropriate for the specific foreign market.