Scope and Key Aspects of International Marketing

This document provides an overview of international marketing, including its scope and key aspects. It discusses the opportunities and challenges of marketing internationally and explains various routes to market. The document also explores different market entry strategies and the global vs local debate in marketing. Additionally, it examines how the marketing mix differs in various organizational contexts.

International marketing

Table of Contents
Introduction......................................................................................................................................3
TASK 1............................................................................................................................................3
P1 Scope and key aspects of international marketing .................................................................3
P2 rationale for this to market internationally and explain various routes to market the
organisation ................................................................................................................................4
M1 Opportunities and challenges that marketing internationally................................................5
D1 Evaluation of international market.........................................................................................6
TASK 2............................................................................................................................................6
P3 key criteria and selection process to use while considering the market for entering ............6
P4 Different strategies for market entry.......................................................................................7
M2 Market evaluation criteria and entry strategies and make recommendations ......................8
P5 key arguments in global and local debate ..............................................................................8
P6 How P’s of marketing differs in various organisation context ............................................10
M3 Organization should adopt a global or local approach........................................................11
M4 Adapt marketing mix of organization in various international markets..............................11
D2 Marketing mix is applied to a range of international contexts.............................................11
TASK 4 .........................................................................................................................................12
P7 Explain and evaluate different international marketing approaches that can be adopted ....12
P8 Compare home and international orientation and ways for assessing competitors .............13
M5 Different marketing approaches and competitor analysis...................................................13
D3 Recommendations organisations should be structured to increase opportunity..................14
CONCLUSION..............................................................................................................................14
REFERENCES .............................................................................................................................15

Introduction
International marketing is defined as conduction of business operation activities out of
the domestic country. This includes planning directing pricing promoting and selling of goods
and products of the company to customers of more than one country. Search companies in local
and National International operations same. It's not fitting tradition and culture which is used for
standing business at international level (Terpstra, Foley and Sarathy, 2012). Organisations make
profit and money by selling products different geographical areas. In global expansion, there are
various challenges faced by the companies as they have different culture and way of conducting
business. The local organisation for this report is tantalum corporation. Does an organisation
which makes vehicle strategies forecast was in benefiting a comprehensive connected ecosystem.
This was found in the year 2014 and started in uxbridge. This report includes various scope and
key concepts of international marketing
TASK 1
P1 Scope and key aspects of international marketing
This is known as business activities and operations performed in such a way that planning
and promoting services and products of the company. International marketing has a wide scope
that is mentioned below
International marketing helps in maintaining peace among Nations- there are various
functions for performed which includes marketing, production, development and manufacturing.
Business includes people of the world to come together and for success of the company. The
functioning of international companies helps increasing employee interaction. In this way,
people from different countries join for recreation as well as commerce.
National markets reduce risk and open many opportunities- It costs a lot to a company
for manufacturing products and services. Search operations must be cost effective in cases where
nation become hub of all exports (Berthon and et. al., 2012).
Import and export- several companies provide services and product to International
markets. Source of opportunity of exporting these to franchisees in market in which the
organisation is able to sell goods to localities. The main objective behind this is generating
revenue and profits.

Contractual agreements - when business is conducted outside the domestic countries, the
scope of international marketing widen up. Expanding market, profit volume ,consumer base,
etc.
Joint venturing - according to this business scenario, two organisations come up together
do for achieving common goals. Investment, profit and loss scenarios are already determined in
context of both value and time. If an organisation enters a joint venture, it is beneficial for to
raise scope of international marketing.
Fully owned manufacturing - companies can on of fully owned manufacturing they are
having high level of engagement. This facility can be used by tantalum organisation for selling
products in the country or exporting them to various nearby Nations (Paliwoda and Thomas,
2013).
P2 rationale for this to market internationally and explain various routes to market the
organisation
Rational for tantalum Corporation to expand its business internationally
International marketing is defined as application of principles of Marketing in more than
one country. The main objective of international marketing is to do business outside the domestic
country. Provides lot of profit to tantalum corporation while doing business in other countries
opportunities for automation and technology companies. International marketing is very
profitable for tantalum Corporation as it needs long term commitment of resources. This
organisation can enhance profits and revenue by products and services in international level. This
also creates competitive advantage and helps in improving living standards of countries.
Different routes for market internationally
There are various routes by which organisations can enter international markets. These
routes help the companies to start their business at initial level. Different ways of marketing
internationally are given below –
Licensing - this is a sophisticated arrangement by which a company transfer its rights by
using products and services of the company (Ford and Leonidou, 2013). This is a strategy in
which purchaser of licence has greater market share.
Direct exporting - this is known is telling directly into market after evaluating and
analysing the availability of different resources. Companies organise various sales program for

distributors represent them in different markets. Agents are distributors represent company in
other markets. Tantalum Corporation can use this route for entering into international market.
Franchising - this is a better way of entering into foreign Markets and expanding business
over there. Franchising is good for companies which have a repeatable business model. Brand
recognition.
Partnering - it is very important while entering into an international market. This is a
good idea short antonym organisation to enter into Asian market. There are a number of
organisations which are easy for business in partnership.
Joint ventures - dresses of form of partnership in which there is development of third
managed company. Best follows a one plus one equal to three process. In this venture there are
two companies who work together and achieve common goals (Chenery and et. al., 2015).
Buying a company - tabling of present local company is the best strategy for entering into
International markets. this is because companies are having substantial market share and this
gives status of being local and receiving benefits of local market knowledge and creating a more
customer base.
M1 Opportunities and challenges that marketing internationally
There are certain range of challenges and opportunities that are present at marketing level
(internationally) in regards to Tantalum Corporation and these are given underneath:
Opportunities Challenges
In present context, primal opportunity for a
marketing strategy at international level is a
nation consists with positive climate in regards
to Tantalum Corporation, which will help firm
in hitting targets.
In this the main issues is currency rates which
faced by the company at the time of dealing at
global level.

In present time, it can be said that a country i.e.
having good growth where a company like
Tantalum Corporation operates business and
attain better success.
Another challenge, which is being faced by
Tantalum Corporation is that change in rules
and regulations which creates various issues in
front of company.
D1 Evaluation of international market
Marketing at global level is said to be an effective or appropriate procedure, that may aid
a firm in expanding business at international market. Away with this, it is said to be the concept
of marketing, which may aid Tantalum Corporation in offering the different services as well as
goods to customers in all over the world.
CONCLUSION
From the above discussion, it is concluded International marketing is defined as
conduction of business operation activities out of the domestic country. There is wide scope of
different organisations to expand their business in international market. For doing so there are
some key aspects of international marketing which includes Joint venturing, Contractual
agreements and Fully owned manufacturing. There are various routes used by companies while
entering international markets. These are Buying a company, Joint ventures, Partnering,
Franchising and Direct exporting.
TASK 2
P3 key criteria and selection process to use while considering the market for entering
The different Strategies for entering into foreign market in context of tantalum
corporations are mentioned below –
International marketing objectives - it is the first and foremost step of market selection
process. The main objective of this is to select a particular market in which the company can
enter and earned more profit and revenue.
Parameters for selection - for evaluating and selecting markets, it is very important to
know the criteria and parameter for evaluation. What doing successful business in foreign
markets the different parameters for market selection can be market situation, available resources
of the form competition, government policies, international,etc.

Preliminary screening - the main objective of this is to eliminate the market which are not
having potential customers (Killing, 2017). This parameter is used for screening difference from
product to product. Parameters included in this are per capita income, size of population,
infrastructural factors,etc.
Shortlisting of markets - The above screening eliminates market which are not meeting
desires of company. There are large number of markets which are left behind after the screening.
These are again screened by the use of information about different markets.
Evaluation and selection - the above screening provides markets which are again
evaluated on the basis of feasibility study and cost benefit analysis. The best market is chosen
out of these Markets and product is launched in that business environment.
Test marketing - this includes testing Market by product in small scale in some parts of
market. Customers are given price for the product or service and feedbacks are taken from them
to estimate the level of satisfaction of these customers (Neubert, 2013).
Commercial production - after the screening of market, next step is to production testing
in the selected market. This is convert mass production. Please do minor modifications when
required and introduce product mix in this stage.
P4 Different strategies for market entry
Market entry is defined as atom for entering into a new foreign market in starting business
that country. There are different market entry strategies made for planned distribution and
delivery of products services. There must be presence of strong and effective marketing
strategies that will help in maintaining good will and reputation. The different type of market
entry strategies adopted by companies are mentioned below
Joint venture - this is known as type of partnership where specific business project is
conducted. According to the joint venture, there are two companies coming together and working
in business environment which are having common goals. The main objective of organisation is
to increase profit and reduce risk.
Advantages
The joint venture will give opportunities for tantalum organisation to gain expertise.
This company can have access to better resources by expanding business in foreign market.
Disadvantages
The flexibility of joint ventures is restricted in some business situations. During this

time, both the parties have to emphasize on joint venture. In this case individual business suffers
a lot (Watson IV, and et. al., 2018).
In case of joint ventures, equal pay is not given to employees as it depends upon
responsibility and involvement of the particular country operating the business
Buying a company - this is the best marketing strategy that can be used by a company
providing products that are already existing in market. Particular country that matches criteria for
expansion is selected. This method is very costly and it helps in determining true value of the
organisation within market.
Advantages
In this, organisation has already published marketing strategies and plans so there is no
need of strategies for conducting business operations. Business possess a financial history and
this provides an idea how to manage business activities in a more effective manner. There is
convenience of securing loans and attracting more number of investors.
Represent managers and employees are having experience of sharing their ideas about
future.
Disadvantages
Well established relationship of the company has huge impact on business success.
There are various external factors like reduction in free sector and increase of competition affects
future growth of business (Cavusgil and et. al., 2014).
Direct exporting - according to this market entry strategy, the cells are made directly
within Market by the use of different resources and appointment of distributes. The companies
which are having well established sales program are able to expand in foreign markets more
easily by the process of direct exporting. The main aim of business is to attain organisational
goals in effective manner.
Advantages
Expansion using direct exporting is cost effective to the company
The main company has to control products and services in foreign market
Airtel is helpful in customer interaction building of good and healthy relationship with customer.
Disadvantages
This can cause failure when agent becomes ineffective to perform foreign market

This is not helpful in establishing strong customer base and more efforts are required for doing
the same (Bijaoui, 2016).
M2 Market evaluation criteria and entry strategies and make recommendations
Market evaluation criteria is said to be something, that plays an important role for a
company who is looking forward to gain competitive advancement and to enhance profitability
as well. In present time, it has been found that there are ample number of strategies that are
available in the market for entry where a company could effectively run their business through
joint venture, licensing, direct exporting, and so on, which may also carries number of
advantages and disadvantages as well for the company i.e. Tantalum Corporation. Along with
this, it is also recommended that company would require to adopt Joint Venture or Franchisee for
grabbing a good position within the market.
P5 key arguments in global and local debate
Marketing plan is a document that provide a base for advertising and marketing for the
product of the company. In international marketing, a plan is vital in order to help the
organisation for carrying out operations effectively in national and global market. There are
various kinds of rules and regulations which are followed by entities to run the company without
any issues. The management undertake assessment of business presence at local and global level
for formulating plants which can help achieving goals and objectives. Tantalum Corporation is
engaged in supplying new technology features in vehicles. It is well recognised in home country
and its local markets. Effective strategy and planning are required for entering into foreign
market. Local debate refers to the marketing plan formulated for attracting customers of home
country. Where is global debate is define as marketing plant prepared for or making the services
and products popular in foreign countries (Yeates ed., 2014).
Global
 Business operations are strategies are prepared for helping the company to conduct
activities in international markets.
 The opportunities for enhancing profitability and productivity of the company are huge.
New opportunities can be excluded by entities which are helpful in in increasing
efficiency and profitability.

 In international market, the management develops innovative products which is in
consistent with trends that are prevailing in such market. Also various state policies are
taken into consideration.
 Companies have wider scope in global markets for generating higher profits and revenue.
It can further make investments in order to increase the return.
 International markets are operated on very strong policies and the challenges are huge
which makes it imperative for it to have strong marketing plans.
Local
 All the business plans of a company are made with a view to attract customers in
domestic market. The scope of the plan is very limited.
 Opportunities are very low as compared to international market because of less or no
competition between the entities.
 Market trains are limited and the focus of the organisation is on maintaining healthy
customer relationship in order to run the business smoothly. There is a bond that
organisation create with their customers (Huang and Sarigöllü, 2014).
 Employees are chosen from the local markets having the management and marketing
skills which can help the business grow in local areas.
The above comparison shows that a business cannot achieve the growth in local market
because of lack of competition. This leads to limited use of advanced skills and capabilities. An
organisation cannot again competitive advantage in such a market. On the contrary, strong
marketing plans and skills are required for surviving in international markets as the level of
competition is extreme. Tantalum Corporation can formulate effective marketing strategies in
order to started business at international level.
P6 How P’s of marketing differs in various organisation context
Marketing mix is a tool which comprises seven different components that are useful in
understanding the position of companies product in the marketplace. it helps in establishing
strategies to sell the product in an entirely new market as well as the existing one (Fan, Lau and
Zhao, 2015). It is useful in designing and integrating various elements of marketing in such a
way to ensure the achievement of enterprise objectives. It helps in gaining competitive edge and
with the use of marketing mix strategies can be formulated for increasing productivity and

efficiency. With regard to Tantalum Corporation, marketing mix components has been provided
below:
Product- every organisation is established for selling goods are products customers.
Tantalum Corporation has a strong position in the field of bringing Auto tech innovations and
many more services for the cars connected to it. With the use of this advantage it can easily enter
the international markets.
Price- there should be a pricing strategy in order to fix the price of each and every
product or services that are being provided by the entities. it should be prepared by considering
number of factors such as demand, willingness to pay, etc. In order to enter a new market,
organisation should keep the prices moderate or low in the initial level. In the context of
Tantalum Corporation, the product like automation engines are provided at higher rates which
main prove negative aspect in international markets (Singh, 2012).
Place- It is the location of the outlets for presence in the market. There can be physical
outlets as well as online services for making the customers reach the company. It is important in
order to increase the sales of company. Tantalum Corporation sells its products in local market
which has limited opportunities. Therefore, it can tap international markets in order to increase
the customer base and sales by selling the products outside the national boundaries.
Promotion- it is about promoting the services and products to reach large number of
customers. There are different types of channels and modes used for this purpose. Local market
has limited ways of promoting the products however, it is easy to do this activity in such
markets. Tantalum Corporation requires cost effective mode through which the products can be
promoted in an entirely new international market.
The above factors are helpful in formulating effective marketing strategies which can be
used to market the products and services at international level. There should be regular
improvements and adjustments made to the strategies in order to increase the effectiveness. It is a
way through which Tantalum Corporation can achieve the marketing goals.
M3 Organization should adopt a global or local approach
In present context, it can be said that marketing manager of this business organisation is
specifically supposed to effectively assess market position of business in local as well as global
market. Considering this, Tantalum Corporation would become able to run its business
operations at local level then in that condition opportunities are less. Along with this, if Tantalum

Corporation operates its business venture at global level than company can avail more growth
options and opportunities.
M4 Adapt marketing mix of organization in various international markets
In context of Tantalum Corporation, Marketing Mix has been developed after considering
all the different elements like aims, vision, mission and objectives in regards to offering
customers with the best and suitable products and services. If it is analysed, then it is said that it
pretty much needed for management of Tantalum Corporation to consider effective marketing
mix and this could effectively be done through marketing and enhancing better strategies in
regards to pricing.
D2 Marketing mix is applied to a range of international contexts
As mentioned by Michailova and et. al., (2017), marketing mix mainly impacts positively
upon businesses and negatively as well on a company. With the help of this, productivity of
Tantalum Corporation will directly be improvised where firm will start hitting desired targets in
specified time frame as well.
TASK 4
P7 Explain and evaluate different international marketing approaches that can be adopted
Marketing approaches are helpful in making the person survive in international market
without much difficulties. There are many international marketing approaches that can be used
by Tantalum Corporation. These include ethnocentric approach, re geocentric approach,
polycentric approach and geocentric approach. All of these have been discussed underneath:
Ethnocentric approach- with the use of the separate a company can enhance the
effectiveness of recruitment process in foreign markets. It is the responsibility of Human
resource department to choose the best candidate who can fit in the organisation and work
effectively in foreign market. For this purpose at low centric approach can be update which
provides that employees of parent company are to be kept at prepositions for are considered as
higher authority. Decisions such as vision, mission, objectives and goals are taken at
headquarters. It can provide number of benefits to Tantalum Corporation (Michailova and et. Al.,
2017).
Geocentric approach- this approach is focused on hiring the best and suitable candidate
for the job without considering the nationality. In other words, nationality is not considered as a

base for choosing the employees for the organisation. There is a believe that every person holds
some talents and skills and it becomes important for the organisation to have diverse workforce
in order to enter foreign markets. Search approaches used by truly global companies. This, it is
not suitable approach for Tantalum Corporation.
Polycentric approach- this approach is used by companies for international recruitment.
the basis for hiring the candidates are set on this girls and their willingness to contribute to
creating good culture at workplace. Recruitment in the supports are done by bye the people in the
host country who have better understanding of the concerned market. The main advantage of this
approach is that there is no such requirement to get employees from parent company as fresh
talent are recruited international markets. Since the employees hold better knowledge of the
house to market the productivity gets increased. Also, there is a constant support from the
government.
Re geocentric approach- this approach of international marketing requires the
organisation to appoint or select managers from various Nations where the business has its
presence. According to this approach, marriages are chosen from different areas in international
market which is closely associated with host country. One of the main benefits of the supreme
court is that managers are able to fit in the culture of the organisation because they belong to the
same country. The element of cost involved is low. Since, such managers are the citizens of host
country, they hold better position in influencing the decisions made by the management.
However, a disadvantage could be that disputes may arise between the perception of search
managers and their managers working at headquarters. Tantalum Corporation can use this
strategy as this approach helps to hire manager of same religion as that of host country.
Furthermore, individuals have knowledge about language and culture of the particular place
which leads to effective understanding of issues arising in the business.
P8 Compare home and international orientation and ways for assessing competitors
It is very important to evaluate the existing competition in the market in which company
is carrying its operations. This helps in developing strategies for achieving objectives and goals
of a business. Local market, the competing forms follow the same application of legal regulation,
business environment and policies of the government. But in foreign markets, the management
of business gets difficult because of new environment. The lack of knowledge about regulations
and procedures followed in international market can be a difficulty. Therefore, to gain

knowledge about the new market it is important to conduct a good research which can help
organisation carrying its business operations smoothly. In the context of Tantalum Corporation,
if it is targeting to enter into Asian market, it should research about the customs and regulations
followed in automobile companies there. For this purpose, it can follow traditional as well as
modern method. Traditional approach is used by organisation for assessing and identifying
competitors and foreign markets. On the other hand, modern method help the organisations in to
adapt changes occurring in the business environment so that productivity can be increased.
Together with this, organisational structure must complement the business at international
market and it should explore the opportunities and assess threats. In addition to this, it should
keep an eye on the changes taking place in the policies and regulations at international level so as
to make a judgement in the strategies or prepare new on in order to achieve the goals and
objectives.
M5 Different marketing approaches and competitor analysis
In present time, it has been analysed that there are ample number of marketing
approaches along with the competitor analysis tools that can be utilised by Tantalum Corporation
and these are : Ethnocentric approach, Geocentric approach, Polycentric approach, Re -
geocentric approach, traditional as well as modern competitive method in order to develop an
effective marketing strategy. Including this, it is recommended that Tantalum Corporation would
require to use and embrace user generated content in regards to a particular marketing strategy.
D3 Recommendations organisations should be structured to increase opportunity
In order to enhance the number of opportunities for Tantalum Corporation, it is
recommended that, company would require to conduct Corporate Social Responsibility related
activities so that effectively they could improve their image in front of the society. Along with
this, it is essential that Tantalum Corporation should adopt better marketing approaches for
promoting different services along with the products offered by them at global business market.
CONCLUSION
From the above report, it has been concluded that international market comprises of wide
range of opportunities which can be explored by companies in order to expand the business. The
main purpose for expansion is to increase sales and profit by developing large customer base.
This can be achieved through to various research about the market in the target international

country. There are many analysis which can be used to assess competition and challenges so that
strategies can be developed. Apart from this, the focus should be on reducing the rest and
increasing the written on the investment made in foreign markets.

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