Question

Discuss the four components of the marketing mix and the areas that must be addressed to configure it for the international market.

Answer 1

International businesses are highly competitive. The mix and the areas for the international markets for such mix are discussed:

· Product: The Product is the most competitive element of the marketing mix which has to be competent in the international markets. The way the product has to be developed that it suites the international audience and makes the product universal for all markets.

· Price: Not all economies are the same. So for the international business, the pricing should be done in a manner that suits the people’s needs and wants along with the capacity to pay for such a product.

· Promotion: The promotion of the product in the international business has to cover the cultures and the width of the global sphere where the language is also another element. Hence the promotions have to be made in a way that suits the people’s inclination for the product being sold. Hence the language and the content of the advertisements are key for such product promotion in the international business.

· Place: The place of the product being needed and the one not needed has to be clear so that the business doesn’t invest in the markets that don’t need or use such products due to cultural reasons. For example, the Pork meat can’t be sold in the Middle East for its religious intents and so the product and the market selection or place, in this case, is important to be addressed.