Objectives of International Marketing
As the name suggests, international marketing refers to the process of planning, executing, and controlling marketing activities that are intended to promote goods and services across national borders. Ultimately, international marketing has the objective of expanding a company’s presence in foreign markets and achieving sustainable growth worldwide. Let us examine the key objectives of international marketing in greater detail:
1. Market Expansion and Diversification:
A company’s primary objective in international marketing is to expand into new markets and diversify its customer base. Increasing opportunities and reducing dependence on a single market are among the goals of businesses. Companies can mitigate risks associated with economic fluctuations, changes in consumer preferences, or changes in regulations by diversifying across different countries and regions.
Market expansion enables companies to reach a wider audience, potentially increasing sales volume and revenue. Companies often identify markets with little competition or untapped potential to gain a foothold in.