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Friday 7 September 2018

Importance of International Marketing


Apart from the numerous advantages which international marketing confers on companies or organisations, other parties that gain substantial from  international marketing are citizens of a country as well as the government.

The ways in which they derive benefits are :

CITIZENS

(i) Standard Of Living : International marketing helps citizens of the world who constitute the consumer segment of global firms, enjoy an enhanced standard of living through the consumption of standardized and quality products.

(ii) Marketing companies : Offer employment opportunity to citizens of countries where they operate. Nigerians in the employment of John Holt Plc , Leventis, Union Trading Company (UTC) etc give credence to this.

(iii) The contributions of oil companies to the development of the Niger Delta within the ambit of their social responsibility initiative is also an importance of international marketing. This is seen in the provision of social amenities like good roads, portable water, electricity etc.

(iv) International marketing empowerment to citizen of a nation through offering of scholarship and provision of micro credit facilities.

GOVERNMENT.

(i) International marking earns revenue for government of the world through import and export duties, value added tax (VAT) Company income TAX (CIT)Pay - As you - Earn (PAYE) etc.

(ii) Many countries of the world have establish and maintained cordial relationships as a result of trade agreements.ECOWAS European Union (EU) and the EU - ACP trade partnership are examples.

(iii) International marketing helped developing countries of the world to avail themselves of various windows of oppoturnuty offered by developed or donor nations of the world such as the African Growth and Opportunity.

(iv) Foreign exchange earned by countries to enhance foreign reserve.

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