Table of Contents INTRODUCTION..........................................................................................................................3 Study objectives...............................................................................................................................3 Structure of the study......................................................................................................................3 Back ground and overview.............................................................................................................3 ASSESSMENT 1.............................................................................................................................4 Contemporary international marketing issues.......................................................................4 Economic environment...................................................................................................................6 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION International marketing can be referred to as an application of different marketing principles for satisfying the needs of people living in other nations. It can also be defined as the promotion of brand at global level. The main purpose of international marketing is to help the firm in earning higher profit across borders. International marketing is basically a activity which are conducted by firm for launching the new product in the global market. It is the activity which assist firm in increasing profitability and market share. The report has focus on analysing the strategic marketing activities adopted by three multinational organisation such as Tesco, Marks and Spencer andLIDL All three organisation are operating business in retail sector..Furthermore, the report will also focus on analysing the contemporary international marketing issues the organisations are facing in the global business environment. Study objectives To understand the concept of international marketing Toidentifyandevaluatethestrategicmarketingactivitiesadoptedbyvarious multinational organisations to respond changes in consumer behaviour. Tocriticallyanalysetheinternationalmarketingopportunitiesformultinational companies. Structure of the study The present study will start with an introduction of the multinational companies chosen to analysetheinternationalbusinessmanagement.Thesecondtopicofthestudywillbe contemporary international marketing issues faced by these companies while operating in international market. Furthermore, Economic, political and legal environment will be examined to identify the impact of all the elements on global businesses Back ground and overview Tesco is basically a British Multinational grocer operating business in retail sector. Business entity is among the third largest retailer in the world in context of revenue. The slogan as well as marketing strategy has assisted an organization in achieving success. Loyalty card scheme launched by an enterprise has assisted them in becoming popular.
Marks and Spencer is also a Global retailer which is located in London. An enterprise is mainly well known for selling the high quality of food as well as home products. It is quality of goods or services offered by firm which has helped them in gaining the customer loyalty. ILIDLisbasicallyafoodretailcompanyoperatingbusinessatgloballevel.An organization has more than 10000 stores across US and Europe. Low pricing is the marketing strategy which has been adopted by company for attracting the customers. ASSESSMENT 1 Contemporary international marketing issues Retail industry is basically a very competitive and it has dynamic business environment. External business environment has significant influence on business. Changes in external environment have great effect on business plan, policies, practices and strategies. External factors are uncontrollable, a special type of approaches is required to be adopted by the Multinational organizations for dealing with changes in external variables. The external factors which can have great effect on the business practices and plans of global organization are political, technological, environmental, social, economic and legal components. Among all these variables the social trends which includes changes in the behaviour of customers, trends etc. have great influence on the business practices and marketing strategies of global companies like Tesco, Marks & Spencer andLIDL. Consumer behaviour can be defined as a way an individual customer select as well as buy the goods or services in order to satisfy their own needs. Companies in retail sector such as Morrisons, marks& Spencer and Tesco is facing the various issues in managing the balance between demand and supply due to continuous changes in the taste and preference of customers. The changes in the consumer behaviour have great effect on the marketing activities of firms. It is the advertisement which assist enterprises in positively influencing the people to change their perception as well as behaviour towards organization. In context of Tesco, it is the marketing slogan every little help has supported an enterprise in achieving the success. During the 23013 and 14, the Tesco has faced the scandal related to the horse meat which has significant as well as adverse effect on the image of an enterprise. It is the charisms marketing campaign with new concept that has helped Tesco in changing the perception as well as attitude of the customers
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towards firms. After such scandal faced by Tesco, an organization has planned to rebrand, this is the marketing tactics which has assisted business entity in rebuilding its image at global level. In addition to this, in order to overcome the consequences of such scandal, Tesco has reduced the prices of products or services which has provided firm an ease in attracting more number of customers. It is the strategy which has provided an enterprise an ease in positively influencing people to buy products or services offered by organization. In addition to this, High level of investment is made by Tesco on Advertisement through TV, radio, cinemas etc. According to the opinion of authorSpence and Velasco, 2018, Among different tools of marketing, advertisement has great as well as significant effect on the behaviour as well as buying decision of consumers. However, it has been argued by other authors that advertisement is tool for promotional mix which includes 7 P's these are product, place, price, promotion, procedure, people and Physical evidence. As per the opinion of Sisodiya, and Sharma, 2018, advertisement can be utilized by multinational organization for developing the strong image of the product in the mind of customers. However, Kotler is also agreed with the statement that advertisement is the best way to gain the attention of target customers group. As per the opinion ofTrinh,Khan and Lockshin, 2018., an organization is required to concentrate on informational advertisement , as it will assist them in influencing people to buy products or services. The author also states that informational advertisement strategy can be helpful for an organization in terms of generating the awareness about products or services among consumers which might influence people decision to purchase goods. The huge investment is made by Tesco for promoting goods or services at international level. In year 2013, Tesco has adopted approx. 110 pound (ca. 50 kg) on renovating its traditional stores and making it more attractive.In addition to this, Tesco is now using the digital marketing strategy for promoting the brand at international level.Tesco has adopted the overhauling product packaging; an enterprise has repackaged high quality of products in higher quality packaging. It is the strategy which has assisted business entity in changing the perception of people about the quality of goods offered by firm. Overhauling product packaging is the strategy which has helped business entity in changing the attitude of customers towards products or services. Personalized marketing strategy has assisted the Tesco in developing the strong relationship with customers. In context of marks and Spencer, the international marketing strategy of an organization
focus on the quality as well as style of its goods. An organization has made huge amount of investment on digital development, so it could promote brand at global level. Marketing manager in an organization has developed the Website of organization which consists of all essential information about business in order to provide easy access of business related data by customer. Customer engagement as marketing strategy lead to the positive attitude of customers towards marks and Spencer. Store visual merchandising is the strategy which has provided firm an ease in attracting customers. Marketing manager in marks and Spencer also utilize the customer loyalty information for organizing the target marketing as well as promotional activities. Business entity emphasizes on high impact promotions which has helped an enterprise in providing high value to customers (Hamilton and Webster, 2018). It is the strategy which has helped an enterprise in increasing sales and profitability at global level. In relation to Marks and Spencer company,business entity needs to adopt standardization strategy as well as need to concentrate on advertisement, as it is the tactics which will assist an organization in positively influencing consumer behaviour.Marks and Spencer is using the social media such as Facebook, Instagram etc. for informing the customers about products and influencing them to buy products or services. In context of Morrisons, business entity offers seasonal sales in order to attract customers and positively influence them to buy products or services. Morrisons is among the fourth largest grocer.An organization during the economic crisis after Brexit has launched the value for money offer which has helped business entity in developing the positive impression on the mind of people. Business entity also launched promotional programmes, for instance firm has recently launched collector card scheme, Lets grow program which has been successful in context of helping firm in changing the attitude of customers towards them. It is the visionary message that is food specialist for everyone and slogan fresh choice for you has helped business entity in attracting a greater number of customers. Political and legal environment Politicalaswellaslegalenvironmenthassignificantinfluenceonthemarketing strategies as well as activities of the Tesco, LIDL, marks and Spencer. As all three organization are operating business at global level these firms can be highly effected by changes in the laws as
well as regulation imposed by political parties. The political factor influence the way consumer buy products or services. Laws formed by both government or political parties might create restrictions on the execution of business (Dau, Lyles and Li, 2018). The retail companies such as LIDL, TESCO, marks and Spencer favour some legislations. Legal authority in the nation might restrict companies from performing the certain types of advertisement. In relation to all three companies LIDl, Tesco, Marks and Spencer, marketing manager in an organization while developing the promotional plan need to consider the laws, as this will assist enterprises in eliminating legal issues. In addition to the above, the unfavourable political conditions in the nation might restrict the firms from promoting their products or services in the market. The other political as well as legislative factors which might have significant effect on the promotional strategies as well as activities of organizations these factors are operational restrictions, taxation, ownership control. Changes in all these variables might restrict retail companies such as LIdl, Tesco, marks and Spencer from expanding business in other market. (Morgan, Feng and Whitler, 2018). Critical analysis of consumer buying behaviour The main role of marketing department in an organisation is to develop the understanding as well as satisfy the needs of consumers.It has been analysed that with the advancement in technology there has been great change in the buying pattern by customers.Most of the consumers prefer to make online purchase of goods or services. The modern consumer decision making procedure isis much more iterative. Customers today hop between different stages of the funnel between multiple companies, thanks to the power granted by the internet. Other thing which has been analysed is that There are many driving force which are driving these changes inconsumerbehaviourtheseareimprovementineconomicconditions,composureto international media, increase in number of foreign travels etc.As per the views of (Sapouna and et.al., 2018) international marketing can be referred as application of marketing principlesin order to satisfy the various needs and wants of the customers across the world. In international marketing process companies have to take marketing activities across the various international borders no matter how many companies a company have to carry out marketing activities but the objective remains the same i.e. profit making. It is to be noted that due to international marketing process companies have to face various challenges which needs to be addressed in order to carry out the marketing functions smoothly across the various countries of the world. As illustrated by
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(East and et.al., 2016) marketing activities and functions of a company depends on the consumer behaviour and it is important for an organisation to study the behaviour of customers in order to attract customers. Consumer behaviour can be referred as study of how a consumer make a purchase or non purchasing decisions about the needs, wants as well as desires of a consumer. Consumer behaviour deals with the study of various stages through which a consumer goes through before making a purchasing decisions so, it is important for a marketing team to have proper insights of behaviour of their customers. According to the opinion ofBuccoliero, Mazzola and Solinas, 2018., it is the quality, price and characteristics of products which significantly affect the behaviour of customers. The author also states that low price and high quality are the two factors which positively influence consumers to buy specific goods. However, it has been argued by other authors that it is the marketing as well as other promotional activities that are conducted by companies encourages people to buy products or services of particular brand. As per the perception of author (), it is the perception of an individual which positively influence them to buy products or services. The other authors argue that experience as well as satisfaction which is gained by an individual by buying products or services from particular brand has great influence the buying decision of consumer. According to the opinion ofLeonidou, Samiee and Aykol, 2018, it is the continuous interaction by companies which positively influence the behaviour of customers and encourage them to buy goods or services. However, it has been argued by other authors that flow of continuous advertisement has great influence on the behaviour as well as buying decision of customers. According to the perception ofNguyen, de Leeuw and Dullaert, 2018., brand advertisement plays very much crucial role in stimulating the people to buy specific brand. However, it has been argued by other authors that E-marketing is the best marketing strategy which has positive as well as long-lasting effect on the behaviour of customers. According to Howard sheth model, it is required by marketing manager in global firms to develop the promotional plans considering the different factors which might influence the behaviour of customer at each phase of the decision-making procedure related to buying goods of specific brand. However, it has been argued by other authors that global firms in order to change the behaviour of customers towards them at international level is required to re-strategies their promotional activities. According to the opinion ofSpence and Velasco, 2018, content marketing strategy can be adopted by multinational firm, as it will assist them in attracting more
numbers of customers. However, the other authors argue that ethical marketing activities should be conducted by multinational organization at global level as it will assist firms in positively influencing people to buy products or services. As per the view ofSisodiya and Sharma, 2018, who stated that Multinational organisation are required to adopt the customer centric approach while developing the marketing strategies, as it will provide them an ease in accomplishing desired marketing objectives. However, it has been argued by other authors that product centric marketing is the strategy which can be used by global companies for promoting brand at international level. The author also states that if global companies adopt the product centric marketing strategy, international marketing will play mediating role between globalization as well as consumer behaviour which might further lead to the homogeneity in behaviour of consumer. CONCLUSION From the above essay it had been concluded that the growth of international marketing has important to manage by company for achieve high growth by providing best and effective product and its services. The report has covered by the objectives which has give proper schedule to project outline. With the help of this, report has done in effective manner by proper market research. Market research has important for the business and its growth in positive and effective manner. This has also covered by the background and overview of three successful retail companies which has provide the best product and services to customers by satisfying needs and wants. It had been concluded that the various contemporary international issues which has faced by the company at international market.
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