MODERN INTERNATIONAL MARKETING DEVELOPMENT CHALLENGES IN THE CONTEXT OF WORLD MARKETS GLOBALIZATION

Abstract

The article seeks to explore the role of modern international marketing methodology in the context of world markets globalization. It is argued that the market economy paradigm is based on the methodology of international marketing. Within the scope of this study, international marketing is viewed as a key concept of strategic management of business international relationships which is currently becoming a global strategy for expanding international business interaction. Based on world best practice, the study develops a conceptual framework and methodological toolkit to enhance international marketing activities along with identifying the role of marketing in enterprise management through the prism of understanding its capacity and opportunities to address the issues of ensuring the company effective performance in the context of meeting the customers’ needs in modern realia of national and world economy development. From this perspective, the globalization of modern world economy is a crucial factor in bursting the development of international marketing. The paper provides insights on the international market development based on high technology implementation revealing the major trends associated with breakthrough innovations doomed to become the key drivers of international marketing development in the globalized world markets environment. The transformational changes in the behavior of global markets participants are considered as a solid background for building approaches to implement modern tools to spur international marketing innovations. The study also presents the nature and the specifics of the international marketing toolkit along with assessing its current state and the possibilities to further application by business entities in the world market settings. The findings provide implications for further development of modern international marketing in the globalization context associated with rapidly growing world economy dynamics, intensified manufacturers’ competition in the world market as well as with internationalization and integration of society. The authors suggest practical recommendations on the implementation of international marketing tools in Ukrainian enterprises and their positioning in the global markets.