International Marketing of M&S
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Added on 2020-07-22
International Marketing of M&S
Added on 2020-07-22
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INTERNATIONALMARKETING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASKS.............................................................................................................................................1P1. Scope and key concepts of international marketing.........................................................1P2. Rationale for an organisation to market internationally and various routes to market thatMarks and Spencer can adopt.................................................................................................2P3. Key criteria for the selecting new market........................................................................3P4. Different Marketing entry Strategies adopted by Marks and Spencer.............................4P5. Overview of the key arguments for local vs global debate..............................................5P6. Differences in the product, price, promotion and distributional approach in theinternational marketing context..............................................................................................6P5. various international marketing approaches.....................................................................8P8.Comparison of home and inter national orientation and ways to assess competitors.......9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONInternational marketing is define as the type of marketing which is done outsidethe geographical boundaries of the nation. Scope of international marketing is wide and there arelots of approaches which a company can follow to enter in a new foreign market(Armstrong andet.al., 2015).TASKSP1. Scope and key concepts of international marketingInternational market has some purpose which is publicizing the difference in betweennational and international marketing and the way they influence marketing strategies formulationand its implementation. An appropriate identification of all aspects of international marketingwill allow Marks & Spencer for taking up advantages of big opportunities which are offered bythese kinds of markets. In the international market, it has to deal with the environment which iscompletely unknown and has a complex nature. M&S has to adopt and develop some strategieswhich will enable it to succeed in these markets. There are three kinds of phases which one hasto set like foreign trade orientation, guidance for sales in foreign markets and internationalmarket orientation. Whereas, on the other side, strategies which are global depicts that worldmarket is homogeneous in nature. There are numerous benefits which can be derived from theadoption of these strategies.The usage of internet and social media platform as well as many advertising techniqueshas facilitated the growth of global marketing. There is a tremendous change which globalisationis currently witnessing; is increasing the scope of international marketing(De Mooij , 2015).Scope of international marketing used adopted by Marks and Spencer has following factorswhich are:ExportIn this process, goods and services are traded from one country to another which can bepromoted by social platforms and also following the rules regarding this process in both; homeand foreign country.ImportIt is the process of buying and bringing products and services to home country from othernations.Re-export1
It is the process of exporting foreign goods in the similar state likewise; it was importedpreviously, from the area which has free circulation to those premises has inward processing andzones which are industrial free.Trade block and their impactTrade block is built by those countries which have an active participation involve EU,LAFTA, ASEAN, EFTA and CACM.P2. Rationale for an organisation to market internationally and various routes to market thatMarks and Spencer can adoptThere are various ways M&S can adopt for international marketing which are describedas follows:LicensingLicensing is define as where it can charge some fee for the usage of its technology,expertise or brand. Licensing can include franchising, turnkey contracts and contractmanufacturing(Mathews and et.al., 2016).Franchising involves the process in which a company provides its brand, concepts,expertise and other facilities which are required for operating in other international markets. Allthe management is controlled by franchisers.Turnkey contracts are considered as one of the major strategies for building large plants.It includes factors such as providing training and development to the employees where skillstends to be sparse.International Agents and DistributorsAgents are considered to be an initial step in the international market. Agents are knownto be an individual or an organisational body which is contracted to conduct business in foreignmarket on its behalf. They take commission on number of goods sold instead of taking anownership for the goods. Agents can also represent two or more companies. They can beconsidered as a low costing individual but has low control options. If Mark and Spencer has anintention to get globalised then it makes sure that their contract allows them for regaining directcontrol over the goods. Distributors are similar like agents but they have ownership on the goods.They take incentives for marketing the products and makes profit out of it.Strategic Alliances2
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