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Analysis of International Marketing Strategies

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Added on  2020-07-22

Analysis of International Marketing Strategies

   Added on 2020-07-22

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International Marketing
Analysis of International Marketing Strategies_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Key international factors which shaping the competitive environment...............................1TASK 2............................................................................................................................................3International marketing strategies in term of proposing marketing entry strategies andmarketing mix.........................................................................................................................3CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONInternational marketing is define as exchange of products and services between two ormore national markets which involve sellers and buyers. Basically, it is a strategy that is used bycompany for expansion of business from domestic country to other nation. Internationalmarketing involves the identification of requirements of people across the world. It can becharacterised 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 asorganisation (Terpstra, Foley and Sarathy, 2012). This project report is prepared to analyse theinternational marketing strategy of Marks and Spencer. Apart from this, various internationalfactors which can influence entry of firm in new market place. Also, evaluate global marketingmix, market entry strategies as well as internationalisation marketing theory of Kotler andArmstong of Marks and Spencer .TASK 1 Key international factors which shaping the competitive environmentMark and Spencer organisation designs its competitive strategy to deliver products andservices in the market place. While making strategies for expanding business at global level, it isvery important for company to know which factors affect the strategies and plans so companymust adjust their actions to take high competitive advantage and opportunities in businessmarket. Market shifts on regular basis under the influence of competitor's actions (Czinkota andRonkainen, 2013). Therefore, it is essential for Marks and Spencer to modify their strategies andplans to continue delivering effective goods and services to enhance profitability as well asproductivity in the global market. Before entering into new industry, enterprise has to evaluatethe whole market, competitors, suppliers, customers, products and many more which assistcompany to maintain stability in market for long time period.Customers: Marks and Spencer have to do continuous survey and monitor the marketenvironment to see the existing requirements, needs, demand and customer's expectationschanging and to know wants of customer's different levels of services than previous. Thefollowing changes in customer's wants are important factors that need adjustments in the processof strategy to resolve the customer's problems and issues on the basis of their feedback.1
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Company must focus on strong strategy plan on delivering more value to their customers thancompetitors. Supplier’s power: They can utilize bargaining power by raising price and reducing thequality of purchased products and services on participants in company. Powerful suppliers inmarket can squeeze profitability by increasing price of goods and services. They can affect theposition and performance of new entrants (Berthon and et. al., 2012). Competitors: They play significant role which can affect the strategies and plans of thecompany. Before entering into any new market, organisation has to evaluate the actions ofexisting competitors as well as new entrants in the market place. To gain high competitiveadvantage, firm has to focus on every action of their competitors and at the same time, adjusttheir strategies and plans for effective management. Actions and practises of other companiescan highly influence profitability and productivity of Marks and Spencer. Political factors: While making strategies for the international marketing, it is importantfor company to consider political factors of that particular country include how policies andregulations imposed in the that nation and the local government factors which might affect thebusiness. For example, export and import tariffs can create difficulty to do business with definitenation. Economic: The performance of local and international economy which can impact abusiness performance. So, it is essential function of firm to create plan to find out their threatsand opportunities in particular country where they seek to expand business. Many kind oftaxation policies and other duties can hit bottom line of business because of this reason companyhave to understand fiscal environment in deeply to prepare financial forecasts (Papado,poulosand Heslop, 2014). Environmental factors: This factor has become essential in the recent years. With thehelp of this, company can evaluate wider impact of changing behaviour, needs and perception ofcustomers. Before starting business in any other country, it is important to analyse all theenvironmental factors which can influence profitability and productivity of organisation. Legal factors: It also plays an important role in strategy formulation. Business activitiesoperates in web of various legal restrictions and obligations across the world (Ringle, Sarstedtand Straub, 2012). This will help firm to develop knowledge of all the rules and legislation that2
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