Topics in Marketing Marketing Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...

Key concepts

Product Product management Product management is an organizational lifecycle function within a company dealing with the planning, forecasting, or marketing of a product or products at all stages of the product lifecycle....  / Price Pricing Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, market place, competition, market condition, and quality of product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a...  / Promotion Promotion (marketing) Promotion is one of the four elements of marketing mix . It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision....   "Placement Distribution (business) Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,... " / Service / Retail Retail Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...   Research Marketing research Marketing research is "the function that links the consumer, customer, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve...  / Strategy Marketing strategy Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.-Developing a marketing strategy:...  / Management Marketing management Marketing management is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities...

Promotion

Advertising Advertising Advertising is a form of communication used to persuade an audience to take some action with respect to products, ideas, or services. Most commonly, the desired result is to drive consumer behavior with respect to a commercial offering, although political and ideological advertising is also common...  / Sales promotion Sales promotion Sales promotion is one of the four aspects of promotional mix. Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability...   Personal Sales Sales A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....  / Publicity Publicity Publicity is the deliberate attempt to manage the public's perception of a subject. The subjects of publicity include people , goods and services, organizations of all kinds, and works of art or entertainment.From a marketing perspective, publicity is one component of promotion which is one...   Public relations Public relations Public relations is the actions of a corporation, store, government, individual, etc., in promoting goodwill between itself and the public, the community, employees, customers, etc....  / Direct Direct marketing Direct marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer, with advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional...

Promotional media

Newspaper Newspaper A newspaper is a scheduled publication containing news of current events, informative articles, diverse features and advertising. It usually is printed on relatively inexpensive, low-grade paper such as newsprint. By 2007, there were 6580 daily newspapers in the world selling 395 million copies a... s / Magazine Magazine Magazines, periodicals, glossies or serials are publications, generally published on a regular schedule, containing a variety of articles. They are generally financed by advertising, by a purchase price, by pre-paid magazine subscriptions, or all three... s Broadcasting Broadcasting Broadcasting is the distribution of audio and video content to a dispersed audience via any audio visual medium. Receiving parties may include the general public or a relatively large subset of thereof...  / Online media Internet marketing Internet marketing, also known as digital marketing, web marketing, online marketing, search marketing or e-marketing, is referred to as the marketing of products or services over the Internet...   Billboard Billboard (advertising) A billboard is a large outdoor advertising structure , typically found in high traffic areas such as alongside busy roads. Billboards present large advertisements to passing pedestrians and drivers...

Roles

Promoters Promoter (entertainment) An entertainment promoter i.e. music, wrestling, boxing etc is a person or company in the business of marketing and promoting live events such as concerts/gigs, boxing matches, sports entertainment , festivals, raves, and nightclubs.- Business model :Promoters are typically hired as independent...  / Infotainers

Borderless selling is the process of selling

Selling

Selling is offering to exchange something of value for something else. The something of value being offered may be tangible or intangible. The something else, usually money, is most often seen by the seller as being of equal or greater value than that being offered for sale.Another person or...

 services to clients outside the country of origin of services through modern methods which eliminate the actions specifically designed to hinder international trade

International trade

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...

. International trade through "borderless selling" is a new phenomenon born in the current "globalization

Globalization

Globalization refers to the increasingly global relationships of culture, people and economic activity. Most often, it refers to economics: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import...

" era.

Definitions

Borderless selling is defined as the process of performing sales

Sales

A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....

 transaction between two or more parties from different countries (an exporter and an importer) which is free from actions specifically designed to hinder international trade

International trade

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...

, such as tariff barriers, currency restrictions, and import quota

Import quota

An import quota is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time....

s.

Background

International trade

International trade

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...

 which is the exchange of goods and services across international borders has been present throughout much of history of economics

Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

, society

Society

A society, or a human society, is a group of people related to each other through persistent relations, or a large social grouping sharing the same geographical or virtual territory, subject to the same political authority and dominant cultural expectations...

 and politics

Politics

Politics is a process by which groups of people make collective decisions. The term is generally applied to the art or science of running governmental or state affairs, including behavior within civil governments, but also applies to institutions, fields, and special interest groups such as the...

.

It is assumed that offshore outsourcing

Offshore outsourcing

Offshore outsourcing is the practice of hiring an external organization to perform some business functions in a country other than the one where the products or services are actually developed or manufactured. It can be contrasted with offshoring, in which the functions are performed in a foreign...

 gave birth to "borderless selling". The selling of services by offshore outsourcing

Offshore outsourcing

Offshore outsourcing is the practice of hiring an external organization to perform some business functions in a country other than the one where the products or services are actually developed or manufactured. It can be contrasted with offshoring, in which the functions are performed in a foreign...

 service providers to foreign clients is free from actions specifically designed to hinder international trade, such as tariff barriers, currency restrictions, and import quotas. This is largely because most of the services are sold or delivered electronically from the offshore service provider to the foreign client. This phenomenon gave birth to borderless selling.

There is a high correlation between outsourcing and exporting activity. However, borderless selling is different from free international trade or selling. Under the belief in Mercantilism

Mercantilism

Mercantilism is the economic doctrine in which government control of foreign trade is of paramount importance for ensuring the prosperity and security of the state. In particular, it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from...

, most nations had high tariffs and many restrictions on international trade for centuries. In the 19th century, a belief in free trade became paramount in west, especially in Britain and this outlook has since then dominated the thinking of western nations. Traditionally international trade was possible between only those countries which regulated international trade through bilateral treaties

Bilateral treaty

A bilateral treaty is a treaty strictly between two state parties. These two parties can be two states, or two international organizations, or one state and one international organization.It is similar to a contract, so it is called contractual treaty....

. Borderless selling is possible between any two countries of the world because services can be exported using modern telecommunication networks without the need to regulate trade.

The "borderless selling" theory was originated by Paramjeev Singh Sethi in 2006 as part of his thesis on International Marketing and while also performing borderless selling professionally.

Major elements of borderless selling

• Consultative sales
• Business development
  Business development
  A subset of the field of commerce, business development comprises a number of techniques and responsibilities which aim at:1. Researching new types of business/products/services with an emphasis on identifying gaps in the mitigation of needs of potential clients .2. Attracting new customers3...
  
  
• Account management
• Offshore project management
  Project management
  Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals. A project is a temporary endeavor with a defined beginning and end , undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value...
  
  
• Onshore service delivery

advantages of borderless selling

• We can introduce our product by using advertising
• Economies of scale in production and distribution
• Lower marketing costs
• Power and scope
• Consistency in brand image
• Ability to leverage good ideas quickly and efficiently
• Uniformity of marketing practices
• Helps to establish relationships outside of the “political arena”
• Helps to encourage ancillary industries to be set up to cater for the needs of the global player
• Benefits of eMarketing over traditional marketing

Types of services applicable to borderless selling

Many services can be sold through borderless selling, popularly including:

• Consulting
  Consultant
  A consultant is a professional who provides professional or expert advice in a particular area such as management, accountancy, the environment, entertainment, technology, law , human resources, marketing, emergency management, food production, medicine, finance, life management, economics, public...
  
  
• Freelancing
• Electronic commerce
  Electronic commerce
  Electronic commerce, commonly known as e-commerce, eCommerce or e-comm, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks. However, the term may refer to more than just buying and selling products online...
  
  
• Online credit card
  Credit card
  A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
  
   processing
• Music
  Music
  Music is an art form whose medium is sound and silence. Its common elements are pitch , rhythm , dynamics, and the sonic qualities of timbre and texture...
  
  
• Animation services
• Video
  Video
  Video is the technology of electronically capturing, recording, processing, storing, transmitting, and reconstructing a sequence of still images representing scenes in motion.- History :...
  
  s
• Business research
  Business Research
  Business Research is a semi-annual, academic journal in English that is published by the German Academic Association for Business Research and supported by the German Research Foundation...
  
  
• Telemarketing
  Telemarketing
  Telemarketing is a method of direct marketing in which a salesperson solicits prospective customers to buy products or services, either over the phone or through a subsequent face to face or Web conferencing appointment scheduled during the call.Telemarketing can also include recorded sales pitches...
  
  
• Accounting
• Medical transcription
  Medical transcription
  Medical transcription, also known as MT, is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals, into text format.-History:...
  
  

Different means used for borderless selling

Different means used for borderless selling:

• Telephone
  Telephone
  The telephone , colloquially referred to as a phone, is a telecommunications device that transmits and receives sounds, usually the human voice. Telephones are a point-to-point communication system whose most basic function is to allow two people separated by large distances to talk to each other...
  
  
• Fax
  Fax
  Fax , sometimes called telecopying, is the telephonic transmission of scanned printed material , normally to a telephone number connected to a printer or other output device...
  
  
• Internet
  Internet
  The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...
  
  

See also

• Globalization
  Globalization
  Globalization refers to the increasingly global relationships of culture, people and economic activity. Most often, it refers to economics: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import...
  
  
• Sales
  Sales
  A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
  
  
• Marketing
  Marketing
  Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
  
  
• Free trade
  Free trade
  Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...
  
  
• International trade
  International trade
  International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...
  
  
• BPO
  BPO
  BPO can refer to:* Benzoyl Peroxide* Berlin Philharmonic Orchestra* Brisbane Philharmonic Orchestra* Buffalo Philharmonic Orchestra* Built-in product obsolescence, another name for Planned obsolescence...
  
  
• KPO
  Knowledge process outsourcing
  Knowledge process outsourcing is a form of outsourcing, in which knowledge-related and information-related work is carried out by workers in a different company or by a subsidiary of the same organization, which may be in the same country or in an offshore location to save cost...
  
  
• Outsourcing
  Outsourcing
  Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...
  
  
• Offshoring
  Offshoring
  Offshoring describes the relocation by a company of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Even state governments employ offshoring...
  
  
• Offshore outsourcing
  Offshore outsourcing
  Offshore outsourcing is the practice of hiring an external organization to perform some business functions in a country other than the one where the products or services are actually developed or manufactured. It can be contrasted with offshoring, in which the functions are performed in a foreign...
  
  
• Globality
  Globality
  Globality is the end-state of globalization – a hypothetical condition in which the process of globalization is complete or nearly so, barriers have fallen, and "a new global reality" is emerging....