d cost and uncertainties in theexchange rate, prices tend to be higher in foreign marketsthan in domestic markets. An important economic consideration is the distribution ofincome. The distribution of income, especially discretionaryincome, can widely vary from nation to nation.Discretionary income is of particular interest to marketersbecause consumers have more input in the spending of it.Income creates purchasing power. International marketerstend to concentrate on higher income countries as eitherpersonal, disposable, or discretionary. For obviousreasons, marketers tend to concentrate on higher incomecountries. Some producers have found that their productsare more likely to sell in countries with low income. As indomestic marketing, the determining factor is how well theproduct satisfies its target market.International marketing encompasses all business activitiesthat involve exchanges across national boundaries. A firmmay enter the international market for many reasons.Whatever the reason international marketing can provideand efficient way of entering the market. A firm’s marketingprogram must be adapted to foreign markets to account fordifferences in the business environment and target marketsform nation to nation. The marketing mix may require themodification of cultural, social, economic, and legaldifferences. Foreign marketing requires the understandingof various additional costs, which tend to increase theprices of exported goods. The marketing program of aninternational company must adapt to the necessities of aforeign market. The strategies it uses to accomplish a firm’smarketing goal should be the main priority of the marketingprogram. False assumptions frequently cause expensivemistakes in the market. The importance of internationalmarketing...
