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Analysing the scope and key concepts of International Marketing Assignment

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Added on  2021-03-03

Analysing the scope and key concepts of International Marketing Assignment

   Added on 2021-03-03

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Analysing the scope and key concepts of International Marketing (P1)According to CIM (2001), marketing is “the management process responsible foridentifying, anticipating and satisfying customer requirements profitably.”International marketing is the business activities performed by organisations todesign the planning, pricing, promoting and directing the flow of a company’s goodsand services to the consumers across the border in order to make profit. (Marketinglessons ,2019).Features of International MarketingBusiness activities operate in more than one country.Organisations need to be committed philosophically to satisfy both foreign andlocal demand.Companies may appoint domestic or foreign overseas middlemen tocoordinate the activities.A tough management is required to carry out proper market research.According to the foreign consumers’ demand, international businessproducers change their product or company’s policy.Technology also plays a vital role to become successful in international marketing. Itis well known that developed countries like the USA, Germany or japan dominateinternational marketing as they are using highly advanced technology in establishinga brand name, promoting, marketing and production. At present, Japanese productshave captured the global market massively because of their effective use ofadvanced computer technology. (Tutorialspoint,2019).Examples:McDonalds did a broad market research before entering the Indian market. Theycustomize their menu according to the Indian consumer taste. Although beef andpork recipes are very much popular in other markets, they have shown due respectto Indian culture by not serving menus with these ingredients. They also offer 40%pure vegetarian menus which are quite unlike in overseas markets. Besides,McDonalds uses Indian spices to create recipes to match the local flavour.(Marketinglessons, 2019).The renowned tech giant Apple assembles the majority of their iPhone in china.Technically, thecomponents of iPhone manufactured from different countries aresent to two companies called Foxconn and Pegatron to assemble which are based inTaiwan. And Foxconn is currently maintaining factories in other countries worldwide.They coordinate their cost-effective activities and promote their brand image. That'show the marketing activities of Apple are expanded in all over the world and they aretremendously successful. (Lifewire,2019).
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Source: Maritsa Patrinos,2019.Five examples of powerful global branding in action.•Airbnb. when Airbnb turned into first launched, the emblem confronted a massiveproject: convincing humans around the world that staying in a stranger's domestic isnot weird or horrifying.•Starbucks.•Coca-Cola.•Ikea.Scopes of International Marketing
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