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International Marketing Assignment Sample

   

Added on  2020-11-12

20 Pages6232 Words378 Views
MARKETINGINTERNATIONAL

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Evaluate the scope and key concepts of international marketing......................................1P2 Evaluate the rationale of international market and specify various market routes to expandinternationally.........................................................................................................................4TASK 2............................................................................................................................................6P3 Key criteria and selection process while penetrating new international market...............6P3 Different market entering strategies along with their advantages and disadvantages.......6TASK 3............................................................................................................................................9P5 Overview of key arguments in local vs global debate......................................................9P6 7Ps of Marketing mix......................................................................................................10TASK 4 .........................................................................................................................................13CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16.......................................................................................................................................................16

INTRODUCTIONInternational marketing is defined as the multinational process of identification, planningand executing the pricing, distribution and advertising of goods, services and ideas at global levelto satisfy organisational and individual objectives. It also means performing business operationsin more than one country. It is also termed as global marketing. International marketingemphasize on leveraging assets, products and experiences of a company on global basis due towhich different countries are able to access unique services of other nations. This presentassignment is written in context with Fontain Motors which is a UK based sales company,situated in Iver, Buckinghamshire. This report involves scope and key concepts of marketing atinternational level along with different market routes. Criteria, process and strategies to identifyright market is mentioned (Baker and Magnini, 2016). Also, overview of local vs global debate iscarried out. An efficient marketing mix is prepared in international context. At last, differentinternational marketing approaches are discussed along with several ways to access competitors.From this, it can be concluded that having effective marketing plan is vital to expand business atinternational basis. It is recommended to Fontain motors to implement different market strategieslike advertising and promotion in an appropriate manner to increase their customer baseinternationally.Fontain motors was established in 1990. This company was first independent dealer inUK which specializes in sales and aftersales of Audi. Fontain motors is situated in Iver,Buckinghamshire. Annual turnover of company is around 10 million pounds and at presentcompany has employed 11 full time employees and around 150 temporary employees. Ascompany is Audi specialist, workers analyse market and identify modern and new Audi cars. Inaccordance with that dealer finalize future used car-sales. Company is planning to expand theirpresence in Asian countries mainly in Beijing, China. TASK 1P1 Describe the scopes and key concepts associated with international marketingInternational marketing also termed as global marketing has a vast scope today. It is notpossible for any business to sustain at international level without implementing an efficientmarket plan. As potential markets are increasing, it is important for Fontain motors to have1

complete information about markets in which they want to perform their business activities i.e.Beijing, China. Scope of international marketingImports: In this business organisations purchases products from other countries andresale it to potential customers. This benefit these firms in developing and improvingtheir production line along with their revenues. In case of Fontain motors, company canimport new modals of Audi from other countries and resale them in UK to achieve theirbusiness targets and objectives. Exports: Companies export their final products to other countries in order to earnrevenue and profits. Semi- finalised products are also delivered in international marketsto enhance brand treasury. Fontain motors is planning to expand in China and exportingtheir products in local markets is the best way to enter successfully. Contractual agreements: These agreements can be in term of licensing, technicalassistance or co-production. Fontain motor can sign some contracts with Companies inChina to promote and sale Audi cars through them. This agreements will take place forspecified time. Contract will terminate after the agreement expires. Multinational marketing: It involves the domestic firm expanding its influence andservices into multiple international markets. It includes the procedure of selling andadvertising commodities to customers worldwide. To expand successfully in China,Fontain motors needs to adapt different aspects related with market and customers inchina. In this subsidiaries unit of Fontain motors will acts as an independent unit(Cavusgil and et.al., 2014). Basic concepts in international marketing are mentioned below along with theirinterlinkage and differentiation. Key concepts of international market beneficial for Fontainmotors are:key concepts of international market:Export marketing: This is the basic step taken by a company to step out from localmarket and grab expansion opportunities outside the country. Here, the main objective ofcompany is to expand their market size. Fontain motors can expand their sales andaftersales services in other nation especially China by this means. Export marketing will2

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