Unit 40 International Marketing with Marks & Spencer plc (GC0306)
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. 2
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 whose headquarters is situated in the City of Westminster, London. It was first founded by Michael Mark 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 processes and methodologies to perform international marketing like transit pass, borders permit, visa processing, export rules, and regulatory acts, etc. the government of a country imposes 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 the 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.
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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 transfers, 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 to have 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 that belong to human life. It has spread all over the world and people now can invest in 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 states or county system government. 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 a small business organization such as the 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 the internet globally. In this sense, international marketing is getting popularity as global marketing through an internet connection. The marketer expects its 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 that does not target any specific country whereas 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 promote 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 markets generally become 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
The rationale for international expansions
Competition
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 competitor around the world marketplace…….
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