International Marketing: A Case Study of Gousto's Global Expansion

INTERNATIONAL MARKETING
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Table of Contents
INTRODUCTION........................................................................................................................3
LO1........................................................................................................................................... 4
P1 SCOPE AND KEY CONCEPTS OF INTERNATIONAL MARKETING........................................4
P2 THE RATIONALE FOR GOUSTO TO MARKET INTERNATIONALLY AND VARIOUS ROUTES
TO MARKET IT CAN ADOPT...................................................................................................5
M1 EVALUATE THE OPPORTUNITIES AND CHALLENGES THAT MARKETING
INTERNATIONALLY PRESENTS TO GOUSTO...........................................................................7
LO2........................................................................................................................................... 8
P3 KEY CRITERIA AND SELECTION PROCESS TO USE WHEN CONSIDERING WHICH
INTERNATIONAL MARKET TO ENTER....................................................................................8
P4 DIFFERENT MARKET ENTRY STRATEGY INCLUDING ITS ADVANTAGES AND
DISADVANTAGES................................................................................................................ 11
M4 MARKET EVALUATION CRITERIA AND ENTRY STRATEGIES AND MAKE
RECOMMENDATIONS FOR GOUSTO...................................................................................13
LO3......................................................................................................................................... 14
P5 USING YOUR CLIENT ORGANIZATION, PRESENT AN OVERVIEW OF THE KEY
ARGUMENTS IN THE GLOBAL VERSUS LOCAL DEBATE.......................................................14
M3 EVALUATE THE CONTEXT AND CIRCUMSTANCES IN WHICH YOUR CLIENT
ORGANIZATION SHOULD ADOPT A GLOBAL OR LOCAL APPROACH....................................15
P6 INVESTIGATE HOW THE PRODUCT, PRICE, PLACE AND PROMOTIONAL DISTRIBUTION
APPROACH DIFFERS IN A VARIETY OF INTERNATIONAL CONTEXTS....................................16
M4 DETERMINE AND ARTICULATE IN DETAIL HOW TO ADAPT THE MARKETING MIX OF
YOUR CLIENT ORGANIZATION IN DIFFERENT INTERNATIONAL MARKETS..........................18
LO4......................................................................................................................................... 19
P7 EXPLAIN AND ANALYSE THE VARIOUS INTERNATIONAL MARKETING APPROACHES
YOUR CLIENT ORGANISATION CAN ADOPT.........................................................................19
P8 COMPARE HOME AND INTERNATIONAL ORIENTATION AND WAYS TO ASSESS
COMPETITORS.................................................................................................................... 21
M5 EVALUATE VARIOUS MARKETING APPROACHES AND COMPETITOR ANALYSIS...........23
CONCLUSION.......................................................................................................................... 24
REFERENCES........................................................................................................................... 25
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INTRODUCTION
International marketing may be defined as the application of the marketing principles to
more than one country. It is the process of planning and executing the conception,
promotion, pricing and distribution of ideas, products and services to create exchanges that
can meet the need and demand of the customers. There are various benefits of
international marketing which includes increased market share, reaching new customers,
increasing linkage among business etc. (Deresky, 2017). This report explores the different
features of international marketing. It demonstrates the contribution of the marketing in
international context. It further evaluates the main criteria and selection process to make an
entry in the new market. The elements of the marketing plan that can be adapted or
standardised across the international market are also covered in this work. In the last
section, it throws light on the numerous marketing approaches that can be adopted by a
company to achieve the desired result.
In this work, 'Gousto' is selected to make a deep understanding of the international
marketing and various factors associated with it. Gousto is a British meal kit retailer which
offers recipe kit box which includes fresh ingredients and chef-designed recipes. It was
founded in the year 2012 and headquartered in Stepherds, London. This report focuses on
how this company can make an entry in international markets successfully.
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Figure 1: Ingredients in Meal Kit Of Gousto
Source: Www. Gousto.Co.Uk
LO1
P1 SCOPE AND KEY CONCEPTS OF INTERNATIONAL MARKETING
International marketing is the application of marketing activities or principles in the new
country in order to attract the new customers. It is imperative for an organization such as
‘Gousto’ to concentrate on the international marketing to grab the opportunities provided
by the international market.
International marketing has earned a great scope. Due to globalization, the marketing
strategies are not limited to stay confined within the national border. Today world has
become the open market and a company can enter into any favourable market. The scope
of international marketing includes imports, exports, contractual agreements, strategic
alliance etc. (Kotabe and Helsen, 2014).
Imports –A business organizations buy the products from the supplier belong to the
different country and sell the products in local market. A local company purchase the
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products which are not available in local market and it helps the company in meeting the
expectations of the customers.
Export – A company sells its products in the different country in order to enhance market
share and profitability. It helps the company in enhancing brand awareness and in reaching
and making new customers.
Contractual agreement- A company make contractual agreements with other companies in
order to operate its business in the new country. Those agreements can either in licencing
or co-production or even technical assistance. A company can make much agreement
including patents, trademark, brand names etc.
Strategic alliance- a company shake hands with the other company belong to another
country in order to achieve mutual benefits. It helps a company in achieving a competitive
edge over its rival companies (Papadopoulos and Heslop, 2014).
CONCEPT OF INTERNATIONAL MARKETING
The key purpose of international marketing is to grab the overseas opportunities which can
help in grabbing the significant market share and profitability (Morschett, et al. 2015).
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