Marketing: process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. International marketing: extension of these activities across national boundaries. Face two more challenges than domestic counterparts: capturing synergies among various national markets, coordinating marketing activities among these markets. Encompasses firm s efforts to ensure that its international marketing activities mesh with the firms corporate strategy, business strategy, and other functional strategies. Key challenge for a firm s marketing managers is to adopt an international marketing strategy that supports that firm s overall business strategy. Differentiation can be based on perceived quality, fashion, reliability, or other salient characteristics. Assuming differentiation can be communicated effectively, price can be higher. Cost leadership can be achieved through reductions in production and manufacturing costs, reductions in sales costs, the acceptance of lower profit margins, and use of less expensive materials and component means etc.