International Marketing: Key Concepts, Scope, and Market Entry Strategies

INTERNATIONAL
MARKETING
1

TABLE OF CONTENTS
TABLE OF CONTENTS..............................................................................................................2
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P 1 Key concepts and scope of international marketing.............................................................3
P 2 Rationale for marketing internationally................................................................................4
LO 2.................................................................................................................................................6
P 3 Key criteria and selection process to be considered at time of entering international market
.....................................................................................................................................................6
P 4 Different market entry strategies..........................................................................................7
LO 3.................................................................................................................................................8
P 5 Overview of key arguments for global versus local marketing............................................8
P 6 Investigation that how marketing mix different when it comes to international marketing
...................................................................................................................................................10
LO 4...............................................................................................................................................11
P 7 Various international marketing approaches......................................................................11
P 8 Comparison of home and international orientation and ways of assessing competitors....13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17
2

INTRODUCTION
International marketing is defined as the application of the different marketing principles
in order to satisfy the needs and desire of the consumers at the international level. This is
necessary because of the fact that in this globalised business environment the company need to
market for running and operating their business (Mohr and Batsakis, 2018). Thus, for this it is
necessary for companies to expand at international level and market their goods ands services at
international level. The present report is based on company Morrison which is planning to
expand in India. The Morrison is a chain of supermarket which is fourth largest chain in UK and
is headquartered in Bradford. The company was founded in the year 1899 by William Morrison.
The present report will start by the discussion on concept of international marketing and
the reason behind marketing internationally. Further the discussion will list out different criteria
to be considered at time of entering international market. Next the different market entry strategy
to be used by the company will be highlighted. After that the arguments for global and local
marketing will take place. Next the discussion will outline that how the marketing mix differs
when marketing is done internationally and when done at local level. In the end the different
marketing approaches and comparison of home and international orientation will take place.
LO 1
P 1 Key concepts and scope of international marketing
In the words of Cateora the international marketing is referred to as the performance of
company and its activities which direct the flow of the product and services which are offered to
the consumers all over the world. The concept of international marketing is gaining a lot of
popularity in the business because no business can survive in this highly competitive world.
Thus, for gaining success the most important thing is the proper and effective use of the
marketing strategies and approaches over the international market. The major scope of
international marketing for Morrison in way of expanding in India is that the company will get
an opportunity of expanding the business (Morgan, 2017).
This is helpful for company because now it will have an opportunity for growth and
development of company. Another major importance of going for the international marketing is
that this increases the brand value and goodwill of the company. This is majorly because of the
3

reason that the company in which currently the company is operating is famous and when it goes
in some different country then this will increase the goodwill in that country as well.
The major scope of international marketing includes the following points-
 Import- this is a system which includes buying goods and services into the country from
outside the country in order to sale it in the domestic country (Nature, importance and
scope of international marketing, 2019).
 Export- this is another major scope of international marketing which includes the selling
of goods produced in domestic country in some other foreign country.
 Re- export- this is another major scope of international marketing which includes
importing the semi- finished goods from other country and then processing it in domestic
country and then exporting the finished goods and services to another country.
 Management of international operations- this includes the different types of operations
which can take place at time when the international business are taken which includes
operating marketing and sales, production and operation, monitoring of all the operations
which take place when the international business is carried on.
Thus, in the end it can be said that for running and operating the business in successful manner
the most important thing is to manage the operations at the international level. This is necessary
as at international level the company gets more opportunities to grow and develop. But in the
contrary there is also a disadvantage of this because in the international level the competition is
very high and there are many chances of losing the consumers and the market share.
P 2 Rationale for marketing internationally
In the present report Morrison is thinking of expanding the business and operating in
India. In this present competitive world there is a high need for the company to go in the race of
global trade. This is majorly because of the reason that if the company will work internationally
then the profits of the company will increase to a great extent. This is majorly because of the
reason that when the company will work in other countries then this will increase their consumer
as this will increase the number of consumer as they will like the foreign brands.
This is majorly because of the reason that if the company will not go in the international
market then it may become obsolete and old in its product and services and the operational
methods which it is using (Mohr, Batsakis and Stone, 2018). The major reason for Morrison to
enter into India is that this will help the company in managing its business and increasing its
4