chapter  11
33 Pages

International Marketing

Goods and services are produced for eventual sale to consumers in a given market. The marketing function generates revenues and is the source of company profits. Until and unless consumers buy goods and services, there is no business to run. Therefore, marketing plays an important role in a company’s day-to-day operations. Marketing’s functions include selecting the target market, choosing the goods and services to offer to the customers, packaging and labeling the product, setting the price, distributing goods and services, promoting the product, applying customer relations management, and establishing feedback mechanisms to obtain relevant information from the users of the goods and services. In fact, among the various costs associated with producing and selling goods and services, quite often marketing and selling expenses account for a major portion of the total cost.