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Essay / International Marketing - 1077
I. IntroductionIn today's environment, more and more B2B companies are internationalizing, because they want to be competitive in an increasingly globalized market. This will therefore increase their profitability in a way that is not accessible to domestic companies alone. With the addition of a region of operations, comes the challenge of managing business operations in multiple countries and coordinating the company's marketing activities in multiple countries. However, for many marketers, selling products and services in their own country is an easy task compared to the effort required to increase sales in other countries. So, in this essay, I will discuss the unique challenges of Business 2 Business (B2B) in international marketing, which will improve the chances of success in this type of marketing.II. International MarketingA company that wants to establish itself internationally generally must be modified and adapted to foreign markets. Thus, in each foreign country the firm is likely to find a combination of marketing environments and target markets different from those in its own home country and other foreign countries. Before that, we need to know that marketing can be defined as “the process of finding out what people need and want, then producing a product or service that meets those needs and wants, and do better than competitors.” On the other hand, international marketing can be "marketing activities in which a company reduces its dependence on intermediaries and establishes direct involvement in the countries in which trade takes place." There are many benefits to marketing a company's products or services globally, but the decision to internationalize should be made carefully, as there are many problems or challenges that companies may face to internationalize. However, the advantages of being international are: Increase sales and profits with additional income. Develop international trade technology. Reduce dependence on existing markets. New approach to consumer behavior. Unique Challenges of B2B1 International Marketing. Distance Lack of face-to-face connection/interaction Difficult to establish rapport (personal relationship) Differences in global time zones Different work days/weekends Increasing dependence on technology for global communication efficient Postal delays and courier costsOne of the toughest challenges in international marketing is distance, as businesses need to consider the above factors to succeed in their international business without any errors.2. Lack of knowledge of the target country Country geography and distances. Transportation costs Language barriers Preferred agents or distributors Competitor activityCountries differ from each other and their locations are more suitable for business than others.