Q1. Attempt all the questions:
- a)) Explain the concept and scope of international marketing. Discuss the changing role of international marketing in the context of globalisation, digitalisation, and increasing integration of world markets. Illustrate your answer with an example of an Indian firm expanding its operations into overseas markets. (500 words)
- b)) Examine the influence of political, legal, economic, socio-cultural, and technological factors on the formulation and implementation of international marketing strategies. Support your answer with suitable international business examples. (500 words)
- International marketing applies marketing principles across borders, navigating diverse environments (cultural, legal, economic).
- Globalisation, digitalisation, and market integration are transforming international marketing, demanding agility and adaptation.
- PESTEL factors (Political, Economic, Socio-cultural, Technological, Environmental, Legal) critically shape international marketing strategies.
- Political and legal factors determine market access, operational regulations, and risk assessment for global firms.
Answer: International marketing involves the application of marketing principles across national borders, accounting for diverse environmental factors like cultural, legal, and economic differences. Its scope encompasses all activities from market research and product development to pricing, promotion, and distribution, tailored to meet the needs of global consumers and navigate varying market conditions. In the current global landscape, the role of international marketing is dynamically evolving. Glob...