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Marketing is the process through which an organization identifies customer needs, develops suitable products or services, communicates their value, determines prices, and makes them available to target customers. The basic principles of marketing remain similar whether a firm operates within its home country or across national borders. However, international marketing and domestic marketing differ significantly in terms of market environment, customer characteristics, competition, regulations, culture, and business risks. Understanding these differences is particularly important in the context of the International Business Environment because firms entering foreign markets must adapt their marketing strategies to diverse external conditions. Domestic marketing refers to marketing activities undertaken by a firm within the boundaries of its own country. The organization generally operates under a familiar political, economic, legal, social, cultural, and technological environment. Its products and services are targeted mainly at domestic consumers, and marketing decisions are made according to the characteristics and requirements of the home market. For example, an Indian company selling its products to consumers within India is engaged in domestic marketing. The firm is familiar with the local language, culture, consumer behaviour, distribution systems, government regulations, and business practices. International marketing involves planning, implementing, and controlling marketing activities across national boundaries. A company engaged in international marketing serves customers in two or more countries and must deal with different national environments. It may have to modify its _____ _____ _______ _________ _____ ______ _______ ______.
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