International Marketing: Approaches, Orientation, and Competitor Analysis

This article discusses the importance of international marketing for organizations and the various approaches they can adopt, such as standardization/adaptation, transaction cost approach, and global coordination perspective. It also compares home and international orientation and ways to access competitors outlining the implications of each approach. The chosen company for analysis is Five Guys Restaurant, which is expanding its business to Denmark.

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International Marketing
INTRODUCTION
The international marketing is basically defined as the combination of various
marketing tactics which is used by organization for popularising their goods and services
globally (Gregory, Ngo and Karavdic, 2019). Due to the effective use of various
marketing strategies organization is able to identify the needs and desires of users
quickly. The chosen company is five guys restaurant and this company was established
in 1986. But now the management of this firm is going to establish their business in new
location and the name of that location is Denmark. The report will cover Explain and
analyse the various international marketing approaches organizations can adopt. It further
cover compare home and international orientation and ways to access competitors
outlining the implications of each approach. In the process of international marketing the
strategies which are used by company are online advertising, digital marketing and others.
Compare home and international orientation and ways to access
competitors outlining the implications of each approach
Home orientation
 Organization needs very less investment.
 Here technology is utilized in limited manner.
 In home orientation the area of the market is limited and due to this
completion is very less for competitor (Paul and Bhakar, 2018).
 The activities in home orientation are done within geographical
boundaries.
International orientation
 Company required high level of investment.
 In international orientation the activities of company are run in
international level.
 In international orientation the area of market is very wide which leads to
enhance competition globally.
 Technology are heavily used for promoting and producing the product.

CONCLUSION
From the analysis of above information, it concludes that
international marketing plays the major role for enhancing the growth and
success of organization effectively. Due to the effective utilization of
various marketing strategies company easily increased the awareness of
their goods and services in market at wide range for long duration. The
strategies which are used in marketing are online advertising, digital
marketing, sales promotion and others. The report will cover Explain and
analyse the various international marketing approaches organizations can adopt. It
further cover compare home and international orientation and ways to access
competitors outlining the implications of each approach
REFERENCES
 Gregory, G.D., Ngo, L.V. and Karavdic, M., 2019. Developing e-
commerce marketing capabilities and efficiencies for enhanced
performance in business-to-business export ventures. Industrial
Marketing Management, 78, pp.146-157.
 Kumar, A., Paul, J. and Unnithan, A.B., 2020. ‘Masstige’marketing:
A review, synthesis and research agenda. Journal of Business
Research, 113, pp.384-398.
 Paul, J. and Bhakar, S., 2018. Does celebrity image congruence
influences brand attitude and purchase intention?. Journal of
Promotion Management, 24(2), pp.153-177.
Explain and analyse the various international marketing approaches organization
can adopt -
There are various international marketing approaches which is considered by
restaurant for enhancing the work efficiency and productivity of employees in new
locations. These marketing approaches are also essential for enhancing the reach of their
products and services to customers effectively.
 Approach of standardization/ adaptation – This is also one type of approach
which is considered by organization regarding their product and services. With
help of this approach restaurant is able to sustain quality in their goods and
services for long duration. Due to providing high quality products to the citizens
of Denmark goodwill of this firm are easily enhanced globally within short
duration. In this way the competitive advantage of firm is easily maintained in
market internationally.
 Transaction cost approach – It is one of the effective strategy which is used by
the organization in their business activities globally (Kumar, Paul and Unnithan,
2020). According to this approach management of this restaurant is required to
focus on appropriate choice of mode of entry into international market. In respect
to five guys restaurant due to selecting right entry mode cost in business are
highly reduced and also able to enhance market share globally in less time.
 Global coordination perspective - This perspective emphasizes the importance
of configuring and coordinating the firm's activities at different stages in the value
chain across different countries so as to improve efficiency and gain the maximum
competitive advantage. Activities at the upper end of the value chain such as
sourcing, design, and engineering should, for example, be concentrated in
countries where they can be performed most effectively and cost efficiently.