INTERNATIONAL MARKETING Lesson Note
This SS3 Marketing lesson note covers INTERNATIONAL MARKETING for First Term, Week 1.
Learning Objectives
- By the end of the lesson, students should be able to:
- 1. Explain the meaning of international marketing.
- 2. State the reasons for international marketing.
- 3. Give examples of international marketing activities.
Lesson Note
A. DEFINITION
International marketing is the process of planning, promoting, pricing and distributing goods and services to customers in different countries.
In simple terms, international marketing means selling and promoting goods or services beyond the borders of one’s own country.
For example, when a Nigerian company sells its products to customers in Ghana, Kenya or the United Kingdom, it is involved in international marketing.
International marketing may involve activities such as advertising, transportation, pricing, packaging and distribution of goods across countries.
B. REASONS FOR INTERNATIONAL MARKETING
Companies engage in international marketing for several reasons:
i) To Increase Sales
A business can sell to more customers by entering foreign markets. This can increase its total sales.
ii) To Increase Profit
Selling products in other countries can help a business make more profit when there is strong demand for its products.
iii) To Find New Customers
International marketing allows businesses to reach customers outside their home country.
iv) To Expand the Business
A company can grow bigger by entering markets in other countries instead of operating in only one country.
v) To Make Use of Excess Products
When a company produces more goods than people in its home country can buy, it can sell the excess goods to customers in other countries.
vi) To Reduce Dependence on One Market
Selling in different countries reduces the risk of depending only on customers in one country.
vii) To Obtain Foreign Currency
International trade can help businesses earn foreign currencies such as dollars, pounds and euros.
viii) To Face Competition
A business may enter foreign markets to compete with other companies and strengthen its position in the market.
C. EXAMPLES OF INTERNATIONAL MARKETING
A Nigerian company selling food products to Ghana.
A Nigerian fashion business selling clothes to customers in the United Kingdom.
A Nigerian company advertising its products to customers in other African countries.
A foreign company promoting and selling its products to Nigerian consumers.
D. SUMMARYS
International marketing is the marketing of goods and services across national borders. Businesses engage in international marketing to increase sales and profit, find new customers,
Evaluation
OBJECTIVE QUESTIONS
International marketing refers to marketing activities carried out in ______. A. one village B. one country only C. two or more countries D. one market
Which of the following is an example of international marketing? A. Selling goods within Lagos B. Selling Nigerian products to Ghana C. Selling goods within a school D. Selling goods to neighbours
One major reason for engaging in international marketing is to ______. A. reduce production completely B. expand the market for products C. stop competition D. avoid customers
Which of the following can influence international marketing? A. Culture B. Weather only C. School timetable D. Family size only
A company that sells its products to customers in other countries is involved in ______. A. local marketing B. internal marketing C. international marketing D. personal selling
Which of the following is a benefit of international marketing? A. Increased market opportunities B. Reduced number of customers C. Limited production D. Elimination of all risks
The difference in language between countries can affect ______. A. international marketing B. office cleaning C. bookkeeping only D. production equipment only
Which of the following is a possible challenge of international marketing? A. Cultural differences B. More customers C. Larger markets D. Increased sales opportunities
The exchange of goods and services between countries is known as ______. A. domestic trade B. international trade C. retail trade D. barter trade
Before entering a foreign market, a business should study the ______. A. foreign market and its consumers B. colour of its office C. number of workers at home D. size of its warehouse only
Theory Questions
1a) What is international marketing?
b) State FIVE reasons for international marketing.
c) How does international marketing help a business increase sale?
2a) Why is foreign currency important to businesses involved in international marketing?
b) State TWO benefits of selling products in different countries.
c) Differentiate between domestic marketing and international marketing.