Unit 40 International Marketing | HND Assignment (GC01705)

Table of Contents

Introduction.

P1: Analyze the scope and key concepts of international marketing.

P2: Explain the rationale for an organization to want to market internationally and describe the various routes to market they can adopt

M1: Evaluate the opportunities and challenges that marketing internationally presents to an organization.

P3: Evaluate the key criteria and selection process to use when considering which international market to enter

P4: Explain, using examples, the different market entry strategies, including the advantages and disadvantages of each.

M2: Apply the market evaluation criteria, entry strategies and make recommendations for a selected organization

D1: Produce a critical evaluation of the international market context, including insight into how organizations should adapt their marketing strategies for various markets.

P5: Present an overview of the key arguments in the global vs. local debate.

M3: Evaluate the context and circumstances in which an organization should adopt a global or local approach, highlighting the implications of doing so.

P6: Investigate how the product, pricing, promotional and distribution approach differs in a variety of international contexts.

M4: Determine and articulate in detail how to adapt the marketing mix of a selected organization in different international markets.

D2: Produce a critical evaluation of how the marketing mix is applied to a range of international contexts.

Presentation on P7 and P8.

P7: Explain and analyze the various international marketing approaches organizations can adopt

P8: Compare home and international orientation and ways to assess competitors outlining the implications of each approach.

M5: Evaluate various marketing approaches and competitor analysis in relation to an organization and make recommendations on how they should operate in an international context.

D3: Make recommendations on how organizations should be structured to maximize the opportunity in an international context

Conclusion.

References.

Introduction

Marks & Spencer plc is a major British multinational retailer which headquarters is situated in the City of Westminster, London. It was first founded by Michael Marks and Thomas Spencer in 1884. It is a famous international company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company especially sells home products, clothes, and luxury food products. It also launches famous branded products like Kellogg’s Corn Flakes in November 2008. They are promised to provide the best of M&S Clothing and Home appliance and highly delicious foods around the world. They targeted their physical stores and an online shop to promote their business across Europe, the Middle East and Asia.

P1: Analyze the scope and key concepts of international marketing

Concept of international marketing

International marketing refers to the marketing system by which marketer crosses the national borders of their business countries or locations. It implies several process and methodologies to perform the international marketing like transit pass, borders permit, visa processing, export rules and regulatory acts etc. the government of a country impose some laws and procedural rules of transporting products and goods to the other country. International marketing nowadays has become internet marketing by dint of the blessing of internet globally. In this sense, international marketing is getting popularity as global marketing through an internet connection.  It maintains the scientific and technological approaches of marketing systems like marketing mix, 4P’s ideas etc.

Benefits of internet marketing

The benefits of international marketing are beyond description in this modern and globalized world. Globalization has simplified our life and activities such as communication, business, profit transferring, money exchange etc. The benefits of international marketing cover many developments in many countries like infrastructural development, employment development, immigration and emigration etc. It enables us with having the best products, better services, and better doctor treatment globally. As recent year’s international marketing means mainly internet marketing, it has become a very cost-effective business methodology.

Scope of international marketing

International marketing has a broad scope worldwide. International marketing is actually multinational marketing of various products like cosmetics, sciences materials, education, foods, medicines, fashions, beautifications, health and other perspectives belongs to human life. It has spread all over the world and people now can invest for making profits globally. It has made life easier before ever.

Level of international marketing

Domestic marketing:  Domestic marketing happens within one county’s borders. There are so many countries in the world having state or county system governments. One state can purchase products from another state of the same country. They provide their own made products within their borders for making profits. Generally, domestic marketing is functionalized by small business organizations such retail sector, grocery shop, entrepreneur or enterprise within a country’s borders.

Export marketing:  In this marketing system, the marketer promotes their business and products overseas or in other countries. One country’s business authority supplies or provides products to another county. It has become a more profitable business in the world by which marketers can build up a bright business career. Mark & Spencer is an export qualified business company worldwide.

International marketing: international marketing nowadays has become internet marketing by dint of the blessing of internet globally. In this sense, international marketing is getting popularity as global marketing through an internet connection. The marketer expects their business to be promoted globally. Mark & Spencer is an international marketing company which offers clothing, foods, home appliance, and famous branded products internationally.

Global marketing: Global marketing is a sister concern of international marketing which does not target any specific country whereas the international marketing system targets their country to promote their products. The tourism business is can be defined as global marketing in which methodology the marketer does not wish to have a specified country’s people visit their country and make a profit.

International marketing concept

1.      Domestic Market Expansion Concept (Ethnocentric)

Domestic marketing covers the product’s productions, packaging, and supply, sell and promotion within a country’s borders. It limits the free movement of products from one country to another. A market can be bigger by expansion concept apply in its range. The domestic market generally becomes expanded by selling goods with high quality, good customer service management, strategic plan for future purpose etc.

P2: Explain the rationale for an organization to want to market internationally and describe the various routes to market they can adopt

Rational for Marks and Spencer to market internationally

Importance of choosing the right international market

According to Hubbard (2018), choosing the right international market is essential for every business which wants to enter the global market.  Firstly, selecting the right market supports the businesses to craft messages which appeal particularly to them. Secondly, the right market choice focuses on business potential. Thirdly, choosing the right market helps the business to reach the right audience. Forth, choosing the right market will be cost effective strategy for the business. Finally, if a business can choose the right market, it will support the businesses to compete successfully (Hubbard, 2018).

According to Kotler et al. (2014), competitiveness is considered as a basis or rationale of international business marketing. If a business company is called more reliable to contact or making business relations, then the marketer sees its competency around the world or marketplace.  For example, Mark & Spencer is the most popular international business company which has a wide range of competitors around the world marketplace. Doole and Lowe (2008) said to expand a business in an international market, regional economic conditions are considered as a basic competency. Besides, political steady and integration also impact on making an international market. Regional support economically can increase the growth of a business globally. All efforts of a company to expand their business internationally can be lag behind unless political integrity is absent in a country. Resources from regional areas and support by the regional customer can improve a business international standard quality……………………………

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