Scope and Key Concepts of International Marketing

International Marketing
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Table of Contents
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 Analyse the scope and key concepts of international marketing ...........................................3
P2 Explain the rationale for it to want to market internationally and describe the various routes
to market the organisation ...........................................................................................................4
LO2..................................................................................................................................................6
P3 Evaluate the key criteria and selection process to use when considering which international
market to enter ............................................................................................................................6
P4 Explain, using examples, the different market entry strategies, including the advantages
and disadvantages of each............................................................................................................7
LO3..................................................................................................................................................9
P5 Present an overview of the key arguments in the global versus local debate.........................9
P6 Investigate how the product, price, pricing and promotional distribution approach differs in
a variety of international contexts..............................................................................................10
LO4................................................................................................................................................10
P7 Explain and analyse the various international marketing approaches your client
organisation can adopt ..............................................................................................................10
P8 Compare home and international orientation and ways to assess competitors, outlining the
implications of each approach...................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
International Marketing: Performing business activities across different nations is
considered as 'International Marketing'. It is also termed as 'Global marketing'. In this era of
rapidly changing technology, communication and cultural barriers are reducing hence scope of
business is increasing which leads to increment in concepts of global marketing. It involves
worldwide distribution and promotions of goods and services of firm. Different strategies can be
used in it, such as, competitive strategy in which business focusses on gaining competitive
advantage and leading in market by expanding the scope of their business. This is important for
all organisation to use the marketing which can help to introduce different kind of products and
services for the purpose of selling and increasing organisational profitability (Luo and Bu, 2018).
To understand about international marketing and its importance for expanding business in
international market Arcadia Group has been selected that is largest size organisation in UK that
wants to expand its business in international market by using different types of marketing
activities and functions that helps to operate and expand a business accurately. This is retailing
company where number of employees are working and playing important role that increases their
profitability. This report covers understanding of how marketing contributes to business
strategies in international context, selection of international market by defining success factors,
marketing plan that can be adapted across international market and how to organise and evaluate
international marketing efforts.
LO1
P1 Analyse the scope and key concepts of international marketing
International marketing is defined as process and activity which uses by organisation in
order to operate a business and increase the organizational profits. This is important for company
to analysis their position and formulate the planning which can help to operate and regulate the
business continuously and attain the higher profits. If organization is able to expand their
business by using effective international marketing then it will be opportunity to increase the
sales and number of customers effectively (Magnusson and Westjohn, 2019).
The concept of International marketing
Concept of marketing in international market has several benefits as it ensures increases
brand image of firm, potential buyers are increase because of increase in target market of
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business etc. Strategy of strategic alliance, in this organizations form alliance with another firm
to increase gain global outsourcing benefits. Franchising strategy, in which company gives rights
to other company to run their business based on regulations one of them is that business runs in
the name of parent company. International marketing is defined as principles and application of
marketing in more than one country that helps to operate a business and increase organizational
productivity. In context to Arcadia Group, management are using international marketing in
which it adopts different ways of promotional channel to reach the target audience and increase
organisational sales as well as profitability (Park, 2020).
The scope of international marketing
International marketing leads to peace Among nations: All activities in relation to
business associated with international marketing that involves production, development and
marketing which helps to operate and regulate a business continuously. In context to Arcadia
Group, international marketing is uses to reach the target market and audience that leads to
higher customer attraction by maintaining mutual and personal relationship which increases
performance and profitability. The functions and activities of organisation are having in different
parts of world that increases sales as well as profitability.
Global market reduce risk and open opportunities: The scope of international
marketing covers business activities out of domestic country that make cost effective and nation
become hub of all exports. In context to Arcadia Group, business is operating in UK that wants
to expanp their business in out of the world by entering in to global market that helps to reduce
the risk and increase business opportunities (Stewart and Ladik, eds., 2019).
Import and export: The meaning of import is to buy the products and services from
outside of the country and meaning of export is to sale the products and services outside by
attracting number of customers through marketing which helps to increase the sales and
productivity. for instance management of Arcadia Group, uses import and export process by
maintaining good relation with Australian and African and other countries that increases brand
image and profitability.
P2 Explain the rationale for it to want to market internationally and describe the various routes to
market the organisation
International marketing is uses by organisations to enter in to global market and managing
the business effectively. By determine and implementing business formulation all operation and
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