International Marketing: A Case Study of Kristy's Expansion

INTERNATIONAL MARKETING
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Table of Contents
INTRODUCTION............................................................................................................................. 2
LO1.................................................................................................................................................3
P1 THE SCOPE AND KEY CONCEPTS OF INTERNATIONAL MARKETING......................................3
P2 EXPLAIN THE RATIONALE FOR KRISTY’S TO MARKET INTERNATIONALLY AND THE VARIOUS
ROUTES TO MARKET THE ORGANIZATION CAN ADOPT.............................................................5
M1 EVALUATE THE OPPORTUNITIES AND CHALLENGES THAT MARKETING INTERNATIONALLY
PRESENTS TO KRISTY’S...............................................................................................................7
LO2.................................................................................................................................................8
P3 EVALUATE THE KEY CRITERIA AND SELECTION PROCESS TO USE WHEN CONSIDERING
WHICH INTERNATIONAL MARKET TO ENTER.............................................................................8
P4 DIFFERENT MARKET ENTRY STRATEGIES, INCLUDING THE ADVANTAGES AND
DISADVANTAGES OF EACH.......................................................................................................11
M2 APPLY THE MARKET EVALUATION CRITERIA AND ENTRY STRATEGIES AND MAKE
RECOMMENDATIONS FOR KRISTY'S.........................................................................................14
LO3............................................................................................................................................... 15
P5 AN OVERVIEW OF THE KEY ARGUMENTS IN THE GLOBAL VERSUS LOCAL DEBATE............15
P6 HOW THE PRODUCT, PRICING AND PROMOTIONAL DISTRIBUTION APPROACH DIFFERS IN
A VARIETY OF INTERNATIONAL CONTEXTS..............................................................................17
M3 EVALUATE THE CONTEXT AND CIRCUMSTANCES IN WHICH KRISTY’S SHOULD ADOPT A
GLOBAL OR LOCAL APPROACH, HIGHLIGHTING THE IMPLICATIONS OF DOING SO.................19
M4 HOW TO ADAPT THE MARKETING MIX OF KRISTY’S IN DIFFERENT INTERNATIONAL
MARKETS................................................................................................................................. 20
LO4............................................................................................................................................... 21
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P7 ANALYZE THE VARIOUS INTERNATIONAL MARKETING APPROACHES KRISTY’S CAN ADOPT
................................................................................................................................................. 21
P8 COMPARE HOME AND INTERNATIONAL ORIENTATION AND WAYS TO ASSESS
COMPETITORS, OUTLINING THE IMPLICATIONS OF EACH APPROACH....................................24
M5 EVALUATE VARIOUS MARKETING APPROACHES AND COMPETITOR ANALYSIS IN
RELATION TO AN ORGANIZATION AND MAKE RECOMMENDATIONS ON HOW THEY SHOULD
OPERATE IN AN INTERNATIONAL CONTEXT.............................................................................25
CONCLUSION............................................................................................................................... 26
REFERENCES.................................................................................................................................27
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INTRODUCTION
The term international marketing is defined as applying the principles of marketing not in one
but in more nations. In this assignment is the main highlight is the international marketing of a
local company like Kristy’s along with basis on which the company can shift to an international
market. In order to gain relevant information about expanding into international market,
Kristy's has hired a marketing consulting firm that will help them in developing their business
strategies for an international market. Furthermore, here the analysis on the way of choosing a
particular international market for Kristy Henshaw to expand its business and the several
marketing tactics and its drawbacks and benefits are also discussed here.
Kristy’s is a business that is owned by Kristy Henshaw, the idea behind this startup was to make
healthy food those are free from dairy products and gluten. Later as the business developed
she entered into making healthy ready meals for special children those are health as well as
tasty in consuming. Kristy's currently operating in the market of UK and the main aim of this
assignment is to internationally expand the business of Kristy's in an international market using
appropriate tools and strategies.
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LO1
P1 THE SCOPE AND KEY CONCEPTS OF INTERNATIONAL MARKETING
The international marketing has a wider scope in today’s business world as compared to the
past; here is the detailed explanation regarding the scope of global marketing:
 EXPORTS: The organizations export there manufactured products and services to the
global market or send it to their franchise that is facilitating in the markets far off where
the products of the company are being a sale to local people of that place to gain
maximum revenue (Armstrong, et al. 2015).
 IMPORTS: The companies purchase the products from other markets so that they can
resale those products to their customers domestically that has been collected by putting
many efforts on it.
 MANAGEMENT CONTRACTS: In terms of scope in international marketing there is a vital
role in the management contract that supports in gaining the capable workforce using the
agreements. Better outputs are gained by calling the skilled workforce by the suppliers in
accordance with the terms and conditions documented in the contract.
The following are the concept of the international marketing:
The EPRG approach helps to understand the concept of international marketing, that is
understanding the global opportunities present for any organization, it consists of four stages
that help in making decisions:
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 ETHNOCENTRIC ORIENTATION: In this planning, the products planned and produced
according to the needs of the domestic consumers. It majorly concentrates on the laws and
policies that are practised in local organizations (Shoham, 2015).
 POLYCENTRIC ORIENTATION: In this approach business research is conducted and
individual person is asked about their needs and then the products are developed which
also includes pricing and promotional tactics that are best suited according to the
outcomes of the results.
 REGIOCENTRIC ORIENTATION: It is based on the market segmentation in accordance with
the similar aspects of the regions like political resemblances or economic resemblances
etc.
 GEOCENTRIC ORIENTATION: in this approach, the issues are resolved internationally
making sure that the accomplishment of political and legal obligations are kept in concern.
It offers unvarying goods and services so as to assimilate global functioning.
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