MARKETING AS THE BASIS FOR DEVELOPING AN INTERNATIONAL PRODUCT STRATEGY

Abstract

The article examines the role of marketing as a key factor in the development of a company’s international product strategy under modern conditions of globalization and increasing competition in foreign markets. It has been established that marketing links each company’s production capabilities with the requirements of the business environment in the target market, determining the directions and scope of work necessary to achieve profitability through product sales. The significance of marketing research and strategic market analysis in shaping effective product solutions, oriented to the needs of foreign consumers, is substantiated. Special attention is given to the choice between product standardization and adaptation strategies, highlighting their advantages and limitations in international operations. It is demonstrated that marketing research of foreign markets allows identifying consumer needs, preferences, cultural characteristics, and quality requirements, which serve as the basis for selecting a standardization or adaptation strategy. It is established that marketing ensures the integration of product solutions with other components of the marketing mix, creating a coherent market offering. This approach allows achieving alignment between a company’s strategic goals and tactical marketing instruments in foreign markets. Key factors influencing the formation and implementation of an international product strategy are identified, including consumer, market competitive, economic, institutional-legal, socio-cultural, technological, and ecological factors. The impact of digital technologies on the development of international product strategies is also highlighted, as well as the use of digital communication channels to enhance the accuracy of market decisions, optimize consumer interactions, and improve product management efficiency in the global environment. It is proven that marketing integrates analytical, informational, and managerial decisions, contributes to risk minimization, enhances a company’s competitiveness in foreign markets, and enables effective responses to dynamic changes in the international market environment.