Key Concepts of International Marketing - Assignment
Added on 2020-12-29
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INTERNATIONALMARKETING
Table of ContentsINTRODUCTION...............................................................................................................1Comparison of Intentional Marketing and Local Marketing are as under:....................1Scope and Concepts of International- Marketing for Putney (PharmaceuticalCompany)......................................................................................................................3Steps to rationale International Marketing for Putney Company: .................................4Setting International Marketing Routes for a Putney company :...................................5Routes of Internet marketing which company should follow are as under: ..................5Evaluation of criteria and selection process to be used by the company whilechoosing the international market to be entered by the company................................6Different market entry strategies...................................................................................8A variety of strategies are available through which company can enter intointernational market. Also, selecting the best strategy can enable the company inmaximising its organisational strengths and efficiency.................................................8Following strategies are available for companies who wants to enter into newmarket:...........................................................................................................................8Conclusion and recommendation about how and why the company should enter intoan international market................................................................................................11Difference between global marketing and local marketing.........................................12An overview regarding key arguments of global and local market.............................13Investigation about how product, place, pricing, and promotional distribution differs invarious international context........................................................................................13Analysis of various international marketing approaches ............................................14Comparison of home and international orientation and ways to access competitors,their outline and implication of each approaches........................................................15Home orientation refers to position of the company in local market. And, internationalorientation refers to position of a company at international level. Home andinternational orientation can effect the companies outline in following ways:.............15conclusion........................................................................................................................15REFERENCES................................................................................................................17
INTRODUCTIONIn simple words, International marketing refers to doing business internationallyor beyond the national geographical limits. International marketing refers to conductingthe business in more than one country. Putney is a local company of UK. It is apharmaceutical company which is engaged in manufacturing medicines for pets. Thisassignment will analyse the scope and key concepts of international marketing alongwith various routes through which company can enter into an international market. Thisstudy will also explain the criteria for selecting the best international market in whichcompany can enter with the explanation about entry strategy, discuss the variousmodes of entry for the purpose of an effective entry into a new market. The assignmentwill provide discussion about marketing mix strategies, various marketing approachesthat can be followed by the companies. This study will also give a comparision of globaland local market along with home and international orientation's impact over thebusiness operations of company.Comparison of Intentional Marketing and Local Marketing are as under:Basis of differentiationsLocal-MarketingInternational-MarketingMeaningBusiness OperationLocal marketing stats thatthose market which isavailable within thegeographical boundaries ofthe nation, it covers smallarea. The Putney ispharmaceutical companywhich is using traditionalmarketing sources, due tohaving small company in alocalregion(Alsarayreh,2017).Recently the companyInternational marketingstand for the global marketoperations which extendover the geographical limitsof the countries. Hence, it ishaving broad level marketby various sources ofinternet large companiesare based on that market. International-Marketing ishaving broad concept dueto having the largest chain
Risk FactorResearch AnalysisSource of MarketingPutney is running itsbusiness in a singlecountry, because offollowing traditionalmarketing concept but nowit is trying to expand theirbusiness through Internetmarketing to capture globalmarket.It involves little risk due tocapturing domestic market& having less competitivefirms.It required less capital withlimited technology. Thegovernment influences arenot impacting due todomestic nature.Local-market does notrequire very high researchbecause the company isaware by the domesticmarket and their nature &preferences of customersare remained same.In Local marketing thecompany is depends uponwith global marketoperations. It is having largemarket of variouscompanies with heavycompetition, due to dealingwith more than one country.The International Marketingfor Putney companyconsistingtoughcompetition due to existingrelevant competitive firmsare available at Internationalmarket. Hence, it involveshuge risk and appropriatecapital by using the latesttechnology.Through Intetnationalmarketing it may requiredeep study and researchdue to having variation incustomers by theirpreferences, and havingless knowledge of foreignmarketIn International marketingthere are many sources ofweb marketing such as: E-Mail marketing, search
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