International Marketing For Potential Foreign Market Essay

LO1: Understanding the concept of international marketing for potential foreign market: To: International Marketing Director From: Adopting the International Marketing Approach Subject: Internationalization of Hilfiger Date: (AC 1.1) Why Hilfiger Have to develop international marketing International marketing is a most renowned concept in today’s globalized world. It is the application of marketing principles in more than one country. Hilfiger should develop international marketing for the following reasons: New revenue potential: New market share will indeed generate more profit. If we are able to successfully introduce our product in other countries then it will help us to grab more revenue potential. Since clothing is one of the basic needs as well as luxury so international marketing is not be too risky for us. (Anon, 1978) Learning a new culture: International marketing is crucial in learning a new culture. If our company go for international marketing then the company will experience and learn the culture of that country which may cost us. Because we may produce some products which may fail but this will help us in long run to go for another market of same nature in a very cost effective way. The experience of our company in dealing with a new culture will increase. (Anon, 1978) Diversifying company Markets: When a company go internationalized then the market is diversified. So it reduces the risk of any slow down or shut down of a specific market due to anyShow MoreRelated4 Phases of International Marketing Involvement664 Words   |  3 Pagesinvolve in international marketing, they have to do study and analysis of market potential in the country they interested to do business so that they can decide the level of involvement they would like to commit. 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