This chapter starts with a review of the American market back in the 1980's - Kotler clearly states that the American market and companies are being targeted by foreign companies and he suggests that an answer to this issue is to address competitiveness in terms of product quality & price but also to seek new markets outside of the US - sounds very familiar to today's global marketplace !
Once the decision has been made to trade outside of the home market, Kotler suggests a model to review the various steps necessary to give the company the best chance of success; this starts with an appraisal of the international market, deciding which markets to enter ("global nichemanship" may be a good option), how to enter each market, the marketing programme for each market and the marketing organisation. This is straightforward and a good model to follow for companies looking to expand their sales territories. Nothing outdated here.
Kotler's section on 'Deciding How to Enter the Market' goes into the options of; indirect export, direct exporting, licensing, joint ventures and direct investments.
One of the other key decisions marketers will need to address is the issue of 'global standardisation' or 'customisation' - to what extent will the marketing strategy be tailored for each market ? Only thorough and insightful market research and analysis, and testing, will the marketer be able to answer these questions with a high degree of confidence.
This chapter is still relevant today as it was back in the 80's - although our world has changed a lot, Kotler's approach to this business issue is very useful and challenging for today's company executives who are working through these challenges.
