Abstract:
The following paper is prepared by choosing various articles from credible and academic sources and have been written on. The first article by Peter Buckey summarizes the article international business vs. international marketing. An opinion of the article is then provide at the end. Two other articles follow namely, The millennium and International Marketing by Vern Terpstra and International e-marketing: opportunities and issues by Jagdish N. Sheth, Arun Sharma. All these articles are relevant to marketing concepts and theories and an opinion given at the end of each article synthesizes the article on the light of theory vs practice.
International business vs. international Marketing
Summary
The article focuses on the fact that in current times international marketing has become a more fragmented concept. The author analyses Kotabe’s research trends in the area of international marketing. In his research Kotabe has analyzed elaborate topics that are in the micro level context for international marketing. Some of these topics are organizational and consumer behavior, market entry decisions, local market expansion, global strategies and techniques of cross- national research. The few most essential points of Kotabe’s research on the topic are firstly to begin with the strategy issues. He sees that in the area of international marketing, most companies are negligent about the global strategy. Secondly, he pinpointed that most researchers tend to learn conceptual theories on the topic from the companies and then relate those strategies to actual market performance which may not be a realistic approach. Also, that there is difference in focus of marketing researchers and strategy researchers. Marketing researchers focus mainly on the demand side relationships whereas the strategy researchers focus mainly on supply side relations between companies and their consumers. Kotabe further researched into the topic and concluded that the studies that were done were not affecting the strategies of companies in any significant manner and some extremely important concepts of marketing literature like target marketing and market segmentation have been largely ignored in international marketing concept. Another reason for this change has been the fact that functions of logistics and new product development are not a part of the overall marke5ting function. However, Kotabe believes that marketing still has its strengths remaining in the research methodology area that it focuses on. The article concludes that the issues pertaining to strategy still remains to be a neglected area in international marketing (Buckley, 2002).
Opinion for the article
This article helped in understanding that with the passage of time marketing researchers have paid more attention to the validity and reliability of the measurement issues.. The consequence of such changes according to Kotabe’s research on international marketing is such that it has its focus on either interesting topics that are unstructured or on those research areas where large databases could be developed. . The article also suggests that kotabe’s research has been around the following topics related to international marketing: the behavior of the consumer and organization itself, expansion of business in local market, the global strategy, the strategic alliances of the firm, global performance and techniques used for global research. The article suggests that marketing does not anymore possess its imperial pretentions primarily because the marketing discipline has now started focusing more on behavioral issues rather than economic issues. While examining the changes and problems in the area of international marketing, the author of this article has also sound some opportunities in this area. These include the changes in the nature of markets and competition with an increasing regional competition, more needs for product development and also e- commerce completely revolutionizing the nature of some markets. Companies can also find an opportunity in how they respond to the newly emerging uncertainties in their markets. These include the volatility in consumer tastes, technology and exchange rates. Also political and geographic uncertainties cannot be ignored (Buckley, 2002).
Buckley, P., (2002). International business versus international marketing. International Marketing Review. 19 (1), p16-20.
The millennium and International Marketing.
Authors: Vern Terpstra
Summary
One of the most important factors of the new millennium that will change international marketing is globalization. The global village has become a global marketplace and this phenomenon is a continuous one. There are several ways in which companies are responding to this global village that the world has turned into. They are doing this by means of mergers and acquisitions, forming alliances or partnerships and by entering into more joint ventures. These changes have transformed the structure of markets and made them global oligopolies that have a large number of small players in a single market (Terpstra, 2000). We witness this trend in advertising agencies as well as accounting firms, financial institutions, banks, media, retailers and manufacturers.
Secondly, the impact of technology change is another continuing global phenomenon that will change the status of international marketing. The most important example of this is the use of internet which both arises challenges and creates opportunities for companies. The most prominent advantage is the capability of online contact with the firm’s stakeholders around the world. At the same time, this technology also increases the opportunities for a firm’s competitors and allows them to operate in less publicized manners (Terpstra, 2000). Changing technology has also affected they ways in which the research function operates and also the global logistics. By means of changing the firm’s operations, changing technology also eventually has its impact on international marketing.
The article further discuses the ageing of population in various parts of the worlds as another constant phenomenon affecting international marketing in the new millennium. These changing demographics will require companies to adapt to these changes accordingly.
Opinion for the article
This article views the scope of international marketing in the new millennium. The scope of international marketing has increased in the field of academics to teach the students to become better competitors. Some previous researches done on the topic indicate the subject has had a low importance in academics and hardly used to be a part of the business school curriculum. International marketing of the new millennium will be entirely different from the past (Terpstra, 2000). The reason for this is that in the new millennium the structure of societies, economies, governments and technologies all is changing. It is true that each of these changes is not explosive in nature. The article also suggests that the new millennium is such that its like a dream for a marketer specifically because of the technology evolution.
The phenomenon discussed in this article revolves around issues such as an aging population, technology, market segment variables, political arena and globalization. In spite of the all the phenomenon discussed in this article, the author concludes that these will not bring about very significant changes for international marketing strategies in the new millennium. Rather the developments will continue as they were in the previous decade. This would mean that all the research that has already been done will still be relevant. I learnt from this article that the marketing and product strategies need to be adapted. Moreover, newer international market segments are also emerging in the new millennium. Moreover, the political factors also contribute to the changes in international marketing strategies. Small separated states have now become integrated and have formed larger areas. An example of this could be found in the trade wars between USA and the European Union (Terpstra, 2000).
Vern Terpstra. (2000). The millennium and international marketing. International Marketing Review Volume. 17, Issue: 1, p15-19.
International e-marketing: opportunities and issues
Summary
The article is explaining the fact that companies are nowadays making use of emerging data networks. In international e- marketing, for their e marketing strategies, internet is basically used as a platform for implementing strategies. The complexity of international marketing increases with e marketing. If we consider the advantages of e marketing, we see that the most important one is the reduced cost and increased reach for the companies. International e marketing is cost effective for three major reasons; first that there is no need for human intervention and any information that needs to be passed on to the consumer is done without it. Secondly, the form in which the information is provided through e marketing is also quite simple and easy for customers to understand. Also, it allows more customization for each individual customer. All these reasons make e- marketing concept in international marketing more cost effective for companies nowadays. Their reach is unlimited and it’s less time consuming at the same time (Sheth and Sharma, 2005).
The article also examines the effect of country specific factors on international e marketing. Some of these factors are the infrastructure development in countries which includes the telecommunication infrastructure, transport, justice systems and a lot more. Why this needs to be analyzed is because it’s the availability of this infrastructure that makes e marketing a possibility in these countries. It implies that the e marketing tools that a company uses are easily accessible by all its consumers. However, such developed marketing institutions and the kind of developed infrastructure required to efficiently manage them is available mostly in developed countries only. This is because developed countries have invested relatively more resources in improving their infrastructure facilities. However, even some of the developed countries with better infrastructure facilities, marketing development are still restricted. Germany and Japan are the two countries that fall in such examples, in their aim of protecting the legacy institutions like smaller retailers, they detriment the development of marketing in their country. The problem with such less developed marketing institutions majorly is that it leaves the consumers and marketers to then pay higher prices for the distribution of their goods. (Sheth;Sharma, 2005).
Opinion for the article
This article discusses the growth of e- marketing and its impact on business and customer market behaviors. In this article is found that the strategies used by companies for international e-marketing are constantly changing over time. This means that tomorrow’s e markets will be significantly different from the ones we see today. This article was a knowledgeable attempt to understand the relationship between a country’s infrastructure development and its impact on their e marketing strategies and international marketing institutions. It clarified the point that standardized global marketing strategy is not always a good option because not all countries are always at the same stage of marketing institutional and infrastructure development. (Sheth;Sharma, 2005). The reason why It is so important to know e-marketing is because its growing at a rapid pace and has impacted the business market behaviors in numerous ways and that’s the reason why most of the firms have developed such strategies for their international businesses. This article has discussed two key issues regarding the topic, he discussed e marketing in international marketing and then he considered the impact of individual country’s development on e-marketing strategies. Later the author of this article also suggested that more conceptual research was needed in this field. The learning of this article can be practically implemented by suggesting to the companies that they first need to be aware of their international environments before they develop marketing strategies. The article explains with such example the reason why companies then need to develop e marketing strategies that are based on the different countries that they operate in. This article tells us about the reasons why some of the firms already in the market need to be aware of the completion forms entering the markets and using e marketing strategies. It puts across the message that those firms that are early adopter of the e marketing techniques for international marketing will be more successful ones
Jagdish N. Sheth, Arun Sharma. (2005). International e-marketing: opportunities and issues. International Marketing Review. 22 (6), p611-622.
International marketing, strategic orientations and business success: Reflections on the path ahead.
Summary
The article discussed the view point of strategic orientations which are related to the marketing strategy of a firm. A good marketing strategy is defined as the most effective and efficient allocation of the company’s marketing resources to achieve the objectives. The term orientation is described in this article as the firm’s capability to adopt certain values and act in specific manners. Therefore, we see that strategic orientations describe how resource allocation is implemented at some level of the organization. Observers have also identified some of the best practices in this area and have described those using different labels. Strategic orientations for companies are made by the employees only and are not exactly real. However, they facilitate the research function of the marketing organizational. There are numerous studies that have analyzed other constructs like cost orientation, innovation orientation, , brand orientation, entrepreneurial orientation, sales orientation, learning orientation, various stakeholder orientations, technological orientation and relationship orientation as well (Cadogan, 2012).
In terms of international business, these orientations are an important study because it is seen that international markets are usually very different from the domestic markets. For example, some variables are only unique to the firm’s international operations; in that case some of the strategic orientations are related to the success of that business. When it comes to strategic orientations for international business, two things matter most. One is the diversity of international markets where the firm is present and the other is related to the location of the firm and where it originated from. When companies consider how the strategic orientations will bring about success for their international business, they need to consider international variables and the international context (Cadogan, 2012).
Opinion for the article
This article provides the international marketing scholars and researchers with an insight of avenues for research and a lot more research questions are also discussed. These strategic orientations need to be implemented in a firm’s both domestic and global business and the article clearly examines the issues that need attention from the scholars. It explains the six issues in detail with examples, the issues discussed in the article are help in identifying the need to know the following:
- The merits of adapting strategic orientations in firm’s international and domestic markets.
- Matching the international performance metrics to the concepts or the theory.
- Develop more conceptual models for strategic orientation by studying complex and non linear relationships.
- Consider the different dimensions of the strategic models in more detail
- Go beyond the use of current methods to have better tests of the theories developed.
- Integrate the individual strategic orientation theories so multiple orientations can be accommodated.
The article further explains that strategic orientations are conceptually limited and their performance outcomes for international businesses are also limited. Therefore, it is concluded that when researchers are developing their conceptual models, they need to match strategic orientations with performance metrics very carefully. This article has pointed out the varying avenues for strategic orientations in the international marketing and it says that research of these strategic orientations should encourages because it has the potential to discover more mechanisms through which businesses will be able to accomplish their strategic objectives and improve their performance. Also it tells us that companies need to have enough resources for enacting and developing strategic orientations for their international businesses (Cadogan, 2012).
References
Sheth, J.N., and Sharma, A., (2005). International e-marketing: opportunities and issues. International Marketing Review. 22 (6), p611-622.
Cadogan, J, W., (2012). International marketing, strategic orientations and business success: Reflections on the path ahead. International Marketing Review. 29 (4), p340-348.
Buckley, P., (2002). International business versus international marketing. International Marketing Review. 19 (1), p16-20.
Terpstra.,V (2000). The millennium and international marketing. International Marketing Review Volume. 17 (1), p15-19.
