International Marketing: Scope, Concepts, and Strategies

International Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
P1. Scope and key concepts of international marketing.........................................................1
P2. Reason to market internationally and routes to market....................................................2
P3. Key criteria and selection process....................................................................................3
P4. Market entry strategies.....................................................................................................4
P5. Global v/s Local marketing..............................................................................................6
P6. Difference in Product, pricing, promotional and distribution approach..........................6
P7. International marketing approaches.................................................................................7
P8. Home v/s international orientation...................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
International marketing can be defined as the procedure of putting into application the
principles of domestic marketing at global scale to derive positive results for the company
(Buccieri, Javalgi and Cavusgil, 2020). The present project is based upon Ma Baker which is a
micro bakery dealing in natural and organic breads and pies, situated at Fulham London.
P1. Scope and key concepts of international marketing
International marketing can be defined as a comprehensive procedure encompassing
activities and practices across borders which lead to exchange of offerings holding value for
stakeholder groups and society (Sheth, 2020).
Scope:
The scope of international marketing is quite vast as it presents an organisation with the
opportunity to gain access into a new market by applying the marketing principles at global level
(Cateora and et. al., 2020). The scope of international marketing can also be recognised on the
basis of the notions covered under it. These are explained as follows:-
Imports: This is a form of international marketing wherein an entity is engaged in
procurement of goods from outside the national boundaries for the purposing of selling those
goods within the confines of domestic market. Import along with export is regarded to be two of
the most leveraged ways of carrying out international marketing.
Exports: Hereby, organisations send the products and services manufactured within the
own confines to other countries in order to make those markets sell the offerings to their
customers. The amount earned as a result of carrying out export is used for doing payment of
import, covering costing linked to development of products and inclusion of profit margin.
Contractual Agreements: Whereby a business seeks to expand its market, international
marketing tends to provide it with the opportunity of accelerating its sales, profit margins and
customers. This happens when organisation enters into a contractual agreement with the overseas
partner.
Fully owned manufacturing: A corporation that holds substantial interest in foreign
markets can duly establish a fully owned manufacturing setup in that location. There are several
factors which may shape the decision of an entity to setup fully owned manufacturing facility
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outside, like cost difference, liberal policies of government, effectiveness of quality control
systems, trade barriers, etc.
Concepts:
Certain concepts of international marketing are discussed as under:-
Domestic marketing: Hereby, the marketing is aimed only towards the domestic country
and holds no intent to go international.
Comparative marketing: The process of comparing a number of marketing approaches
and systems with a view to gain knowledge of their differences and similarities is referred to as
comparative marketing (Di Sanguinetto and et. al., 2019). This can be seen as a process
involving execution of analytical comparison of marketing methods as practised within a range
of nations across the globe. This helps in identifying the most effective and ineffective marketing
strategies.
P2. Reason to market internationally and routes to market
Being a micro organisation, it is important for entities like Ma Baker to consider about
the option of marketing internationally for enhancing its growth and development prospects.
Rationale behind marketing internationally
International marketing tends to act as a road map for the company to enhance its reach
within the public and thereby give an overall boost to its financial performance at market place in
the long run. In this relation, it has been identified that a large number of companies have started
leveraging social media as the strategy to inflate its scale of operations and reach among the
potential customer in new markets. This provides the company with the chance to enhance its
existent level of operations and reach out to the new audience with its wide array of offerings
(Martin, Javalgi and Ciravegna, 2020). This further implies an increment in the revenues and
profits of firm in the long run.
Routes to market
There are certain options available to a firm to select as the route for marketing
internationally. These are discussed beneath:-
Direct Route: This encompasses all those channels through which an entity can set direct
interaction with customers in global context. The common examples of channels belonging to
this route that can be considered by Ma Baker are website delivery, holding exhibition, use of
sales representative and many more (Michael, 2020).
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