International business includes commercial transactions such as private, governmental, sales, investments, logistics, and transportation that occurs between two or more countries apart from their political boundaries. Generally, such transactions are undertaken by private sector companies to generate profit. The government sector also undertakes them to earn profit as well as for political reasons.
The term “international business” describes business activities which are engaged in crossborder transactions of products, services, resources between two or more nations. Transaction of economic resources comprises of capital, skills, people, etc. for international production of physical products and services. For example, finance, banking, insurance, construction, etc.
International marketing consists in identifying and satisfying consumers abroad; better than the national and international competitors.
Several type of companies are major participants in international marketing. Among the leaders are −
● Multi-National companies(MNCs)
● Exporters
● Importers
● Service companies
There are many companies that realize their target will be limited if they only concentrate on the US market and the global marketplace is competitive. So to increase their market share they look for various opportunities throughout the world.