Future of International Marketing

It may be predicted that in future the word international will disappear from international business or international marketing because business international business international business and marketing international marketing so that there is no need for the adjective international. As pointed out earlier, international competition in the ‘domestic’ market is so pervasive that international marketing may be defined as marketing in an internationally competitive environment, whether the market is foreign or domestic. There are several trends that would make globalisation and international marketing more pronounced in future.

• Globalisation of supply chain and operations management:
The growing trend towards globalisation of supply chain and operations management will increase the importance of international marketing.

• International investments:
The continuing high levels of international investments and increasing international production tend to increase the importance of international marketing. Information surge and consumer choice Because of the information surge, consumers are fairly well aware of the galaxy different categories of products available across the world. The consumer affluence make consumers more demanding, generating cross boarder demand.

• World growth:
World economy would grow fairly fast. The developing countries have been growing much faster than the developed ones and this trend would continue.

• Domination of the world economy:
One of the major changes is the emergence of the world economy as the dominant economic unit and the resultant decline of the power of nations like the United States to pressurise policies and behaviours of other nations.

• Trade-cycle decision rule:
The old trade-cycle model, which implied that as a product matures the location of production must shift to low-wage countries, has been clarified.

Pervasiveness of free markets

The fall of communism and socialism and the resultant ubiquitous market economy and globalisation are stupendously expanding the scope of international marketing.

• Accelerating growth of global markets. Global markets would grow at rates that were once thought impossible, driven by the high rate of growth in both the high and low-income countries.

• The rise of the Internet and information technology. International marketing is boosted by such factors as the advances in information technology and the rise of the internet. There are also some factors which tend to hamper international marketing, like the restraining forces mentioned earlier. Policies of domestic protection could restrain the growth of international marketing. For example, countries like the U.S., which were champions of free trade, are increasing domestic protection when they see that their interests are adversely affected by free trade.


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