International Marketing Strategies and Techniques

This assignment provides an overview of international marketing concepts, strategies, and techniques used by companies to succeed in the global market place. It covers various social sites and media to gain people's attention, developing strong relationships with customers and suppliers, and increasing profitability. The assignment includes references from books, journals, and online resources, providing a comprehensive understanding of international marketing principles.

International Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Key international factors which shaping the competitive environment...............................1
TASK 2............................................................................................................................................3
International marketing strategies in term of proposing marketing entry strategies and
marketing mix.........................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
International marketing is define as exchange of products and services between two or
more national markets which involve sellers and buyers. Basically, it is a strategy that is used by
company for expansion of business from domestic country to other nation. International
marketing involves the identification of requirements of people across the world. It can be
characterised as the multi-national process of allocation of products and services, promotion,
planning, conception, fix cost of goods to satisfy the needs and wants of people as well as
organisation (Terpstra, Foley and Sarathy, 2012). This project report is prepared to analyse the
international marketing strategy of Marks and Spencer. Apart from this, various international
factors which can influence entry of firm in new market place. Also, evaluate global marketing
mix, market entry strategies as well as internationalisation marketing theory of Kotler and
Armstong of Marks and Spencer .
TASK 1
Key international factors which shaping the competitive environment
Mark and Spencer organisation designs its competitive strategy to deliver products and
services in the market place. While making strategies for expanding business at global level, it is
very important for company to know which factors affect the strategies and plans so company
must adjust their actions to take high competitive advantage and opportunities in business
market. Market shifts on regular basis under the influence of competitor's actions (Czinkota and
Ronkainen, 2013). Therefore, it is essential for Marks and Spencer to modify their strategies and
plans to continue delivering effective goods and services to enhance profitability as well as
productivity in the global market. Before entering into new industry, enterprise has to evaluate
the whole market, competitors, suppliers, customers, products and many more which assist
company to maintain stability in market for long time period.
Customers: Marks and Spencer have to do continuous survey and monitor the market
environment to see the existing requirements, needs, demand and customer's expectations
changing and to know wants of customer's different levels of services than previous. The
following changes in customer's wants are important factors that need adjustments in the process
of strategy to resolve the customer's problems and issues on the basis of their feedback.
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Company must focus on strong strategy plan on delivering more value to their customers than
competitors.
Supplier’s power: They can utilize bargaining power by raising price and reducing the
quality of purchased products and services on participants in company. Powerful suppliers in
market can squeeze profitability by increasing price of goods and services. They can affect the
position and performance of new entrants (Berthon and et. al., 2012).
Competitors: They play significant role which can affect the strategies and plans of the
company. Before entering into any new market, organisation has to evaluate the actions of
existing competitors as well as new entrants in the market place. To gain high competitive
advantage, firm has to focus on every action of their competitors and at the same time, adjust
their strategies and plans for effective management. Actions and practises of other companies
can highly influence profitability and productivity of Marks and Spencer.
Political factors: While making strategies for the international marketing, it is important
for company to consider political factors of that particular country include how policies and
regulations imposed in the that nation and the local government factors which might affect the
business. For example, export and import tariffs can create difficulty to do business with definite
nation.
Economic: The performance of local and international economy which can impact a
business performance. So, it is essential function of firm to create plan to find out their threats
and opportunities in particular country where they seek to expand business. Many kind of
taxation policies and other duties can hit bottom line of business because of this reason company
have to understand fiscal environment in deeply to prepare financial forecasts (Papado,poulos
and Heslop, 2014).
Environmental factors: This factor has become essential in the recent years. With the
help of this, company can evaluate wider impact of changing behaviour, needs and perception of
customers. Before starting business in any other country, it is important to analyse all the
environmental factors which can influence profitability and productivity of organisation.
Legal factors: It also plays an important role in strategy formulation. Business activities
operates in web of various legal restrictions and obligations across the world (Ringle, Sarstedt
and Straub, 2012). This will help firm to develop knowledge of all the rules and legislation that
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impacts the activities of the business. For this PESTLE analysis used by company to minimize
risk in competitive business market.
The Porter's five forces is used in strategic making decision which is very simple but
powerful method for understanding the competitive market environment for identifying the
potential strategy to achieve high profitability and productivity. This is beneficial through which
organisation understand various forces in the industry and environment that can affect
profitability level. This method include competitive rivalry, supplier power, buyer power, threat
of substitution and threat of new entry (Paliwoda and Thomas, 2013). This method takes less
amount of investment and effort to entering in new international market place. It help to known
all important factors which can reduce the profitability, sale and revenue of company. To
analysis market place porter's five forces is very useful and effective source to measure
competitive pressure within an organisation. Firm can increase their growth rate, technological
innovations and government interventions in global market place.
TASK 2
International marketing strategies in term of proposing marketing entry strategies and marketing
mix
Marketing strategies: For making effective strategies and plan to grow and develop
business overseas. It is very important to analyse the marketing environment of that particular
country in which firm wants to established their business (Wilson and et. al., 2012). There are
many firm of United kingdom who run their business practices and activities all over the world
to generate high sale and revenue. Before entering into new marketplace company should
evaluate is their product and services can be sold in wide term without any problem. After than
research new territories and assess the size of the market place. Then, adopt strong strategies and
plan according to the market so that company easily cross borders. So, they must considered all
custom, local values and currencies which can impact on the marketing plan. To expand
business in other countries strong strategies must be adopted by the manager by looking on
unique branding and selling points (Meissner, 2012). While considering entering into new
international market place, Marks and Spencer company need to prepare strong plan and
strategies as this will influence whole business planning process as well as entire marketing.
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There are many important point that must be followed by firm in the ways to enter a foreign
market place for expanding their business level. Exporting: This is one of the most commonly, easiest, commonly and cost effective used
method for entering into new international market. Some company simply start taking
orders from overseas customers because they do passively plan to become exports. But
many organisation are planned exports to expand their business in international presence
(Bertoli, 2013). There are many benefits of exporting as it require low investment and
best way to testing and developing international strategies and plans without great
commitment. It allow firm to concentrate production in a particular single location. It
assist in proving better scale of economies and best quality control measure. It is best
method for exporting business practices from out side the country for increasing sale and
revenue of company. Franchising: It is basically, a form of licensing which gives the licensee to business of
franchisee to run business practices effectively. There are many advantages to company
as franchisee is quick and simple method that offer the minimum cost and assess to
market which may differently have been drawn due to policies of government. Mark and
Spencer can expand their business activities and practices in any country by taking
licensing or franchising. There is minimum cost of investment is required in this method
which is low from other method so, this is right method for entering into new
international market place (Zhou and Barnes, 2012). Joint ventures: It is agreement between two or more organisation to join forces for the
motive and purpose of investment to generate high sales and revenue. The biggest benefit
of this method is that the loss will not share by any single person. There may be chance
of conflicts of interest on issues such as amount invested, profit shares, marketing
strategies and management of the business between different parties which is biggest
disadvantage of company.
Market entry strategies: Other than all above factors many others points are used by
Mark and Spencer in strategy making process while entering into new internation market.
Marketing Mix is one of them which play very significant role in strategy making process of
Marks and Spencer describes the strategy adopted by the company. Marks and Spencer always
engaged in designing new products for the company for this company use Philip kotler theory
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which is based on the four P's i.e. products, place, promotion and price. All this four P's used
by company to achieve high growth in the new international market (Chungwang and Huang,
2012). The Marketing Mix of Marks and Spencer is described as under-
PRODUCT- Firm is one of the highly recognizable retail brands in market. It has wide
variety of products for the customers according to their tastes and preferences. It has products
which include food items, clothing, footwear, etc. Company is always engaged in bringing new
products according to different age group and geographic conditions. Product is the most
important aspect of marketing mix as it is the one which not only fulfil customers’ needs but too
creates the brand value of company. It is the first decision that any company will take before
making any marketing plan. The USP of product decide what company is special about (Murphy,
2010).
PRICE- The pricing of products need to be constantly changed on the demand of market.
Every business wants an edge over its rivals, the same will depend on what pricing strategy a
company is adopting. High price of products can reduce performance of company in market
place as normal people do not ready to buy costly products. M&S generally has its own in house
brand that is priced between medium to higher category as they always provide premium quality
products. Company is getting good competition from online and other big retail players so they
follow strong competitive pricing strategy. It also follows dynamic strategy during seasonal sales
and to sale old stocks at lesser price. Thus, company is adopting competitive pricing policy to
create the best brand value.
PLACE- M&S has more than 1000 stores operating in around 50 countries. It also
provide online marketing facility where buyers can purchase any products online and get the
home delivery. It provide the facility to get some limited international products too. Every
business want their distribution channel to be effective. The product should reach the customers
as wide and far as possible (Bello Katsikeas and Robson, 2010). The place is dependent on the
product and pricing strategy of the company. Distribution strategy has a huge influence on the
profitability of a firm. If product is not reachable then how buyer will buy them thus it must be
easily available. Before expanding business, the enterprise should make plans for the
distribution strategy and always seek consumer demand.
PROMOTION- If the brand is new in the market it need product awareness, so that
general public will recognize it. If it is already existing then it need recalling promotion strategy.
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Promotion always influence the market of product. It depend more on the pricing and cost policy
of the enterprise. Promotion need segmentation, target and positioning for the market. Marks and
Spencer use TV, Mobile ads, and other social media campaign to promote its products in the
market. One can visit their website to know about their products more, and to get every details
about their products. The customer can find blog and fashion tips from the company's website.
They run loyalty program 'sparks' to reward their loyal customers. The reward point will be spent
on the future purchase. Thus they promote their products and make their brand value.
Thus, these 4P's are the strategy adopted by Marks and Spencer in the international
market to fulfil customer needs and to be competitive over their rivals .This is helpful to increase
sale as well as revenue of the company in global market. It is must for organisation to make
market entry strategy to gain success in expanding their business effectively in new international
market. It is the method in which company enters a new global market to increase profitability as
well as productivity in certain time period. All the above mentioned factors are play very
important role which will influence the strategy, tariff rates , transportation as well as marketing
cost. So, manager should considered all environmental, legal, political and social factors in
strategic making process which assist to maintain stability and create unique image of brand in
market place.
Importance of Opportunities and Threats: Mark and Spencer company analyse
opportunities and threats which can effect the position in competitive business market (Cadogan,
2012). Opportunities: Mark and Spencer can develop new segment to cover large number of
customers in the market place which assist to increase profitability as well as productivity
in specific time period. Firm can increase their level of business by providing new
fashion of clothes according to customer's need . Organisation can create their online
website for selling their products and services all over the world.
 Threats: Biggest threat for company is continuous changes in government policies and
regulations regarding tax and business practices which highly effects the operational
activities of the business. Other threat is high competitive in market which influence
position as well as performance of the firm. Continuous change in customer's perception,
needs, wants and demand can reduce the profit level of organisation. Lack of foreign
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investment experience can also affect the business activities (Fletcher and Crawford,
2013).
CONCLUSION
From the above project report it has been concluded that marketing mix used by Mark
and Spencer is standardised which assist to attract more and more customers and increase
revenue as well as sale of the company. The strategy for products used by M&S organisation is
very attractive as they give high quality products and services to their customers. Company have
effective price strategy as they offer different range products to people. In all retail outlet and
supermarkets goods of firm easily available to customers. Marks and Spencer use many
strategies that help to increase brand image, awareness and market share in business
environment. Company have very effective international process to increase their market share in
global market place. They use various social sites and media to gain people's attention towards
company and many other techniques which assist to develop strong bond of relationship with
customers and suppliers and increase profitability.
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REFERENCES
Books and Journals
Terpstra, V., Foley, J. and Sarathy, R., 2012.International marketing. Naper Press.
Czinkota, M.R. and Ronkainen, I.A., 2013.International marketing. Cengage Learning.
Berthon and et. al., 2012. Marketing meets Web 2.0, social media, and creative consumers:
Implications for international marketing strategy.Business horizons.55(3).pp.261-271.
Papadopoulos, N. and Heslop, L.A., 2014.Product-country images: Impact and role in
international marketing. Routledge.
Paliwoda, S. and Thomas, M., 2013.International marketing. Routledge.
Meissner, H.G., 2012.Strategic international marketing. Springer Science & Business Media.
Zhou, L., Wu, A. and Barnes, B.R., 2012. The effects of early internationalization on
performance outcomes in young international ventures: the mediating role of marketing
capabilities.Journal of International Marketing.20(4).pp.25-45.
Murphy, P.E., 2010. Marketing, Ethics of.Wiley Encyclopedia of Management.
Cadogan, J.W., 2012. International marketing, strategic orientations and business success:
reflections on the path ahead.International Marketing Review.29(4).pp.340-348.
Fletcher, R. and Crawford, H., 2013.International marketing: an Asia-Pacific perspective.
Pearson Higher Education AU.
Bello, D.C., Katsikeas, C.S. and Robson, M.J., 2010. Does accommodating a self-serving partner
in an international marketing alliance pay off?.Journal of Marketing.74(6). pp.77-93.
Chung, H.F., Lu Wang, C. and Huang, P.H., 2012. A contingency approach to international
marketing strategy and decision-making structure among exporting firms.International
Marketing Review.29(1).pp.54-87.
Ringle, C.M., Sarstedt, M. and Straub, D.W., 2012. Editor's comments: a critical look at the use
of PLS-SEM in MIS quarterly.MIS quarterly.36(1).pp.iii-xiv.
Wilson and et. al., 2012.Services marketing: Integrating customer focus across the firm.
McGraw Hill.
Bertoli, G., 2013.International marketing and the country of origin effect: the global impact
of'made in Italy'. Edward Elgar Publishing.
Online

International marketing. 2012. [Online]. Available
through:<http://www.marketing-schools.org/types-of-marketing/international-
marketing.html>. [Accessed on 4th November 2017].

The Role of Individual Development in Team and Organizational Success. 2017. [Online].
Available through:<https://www.trainingindustry.com/articles/workforce-development/
the-role-of-individual-development-in-team-and-organizational-success/>. [Accessed on
12th October 2017].
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