International Marketing Assignment - Hilton Hotel
Added on 2020-10-22
16 Pages5066 Words190 Views
Leadership ManagementEconomics
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International Marketing
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P 1 Analysing the scope and concept of international marketing...............................................3P 2 Explaining the rationale for it to want to market internationallyand describing the several routes to market that organisation can adopt...................................5TASK 2............................................................................................................................................6P 3 Evaluating the important criteria as well as selection procedure to use whenconsidering whichinternational market to enter......................................................................................................6P4 Different market entry strategies .........................................................................................8TASK 3..........................................................................................................................................11P 5 presenting an overview of the main arguments in the context of global versus localdebate........................................................................................................................................11P 6 identifying the way 4 Ps in marketing mix and promotionaldistribution approachdiffers in a variety of international contexts............................................................................12TASK 4..........................................................................................................................................13P 7 analysing the several marketing approaches.......................................................................13P8 Comparing domestic and international orientationand ways to assesscompetitors, outlining theimplications of eachapproach...................................................................................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16
INTRODUCTIONInternational marketing is defined as the application of marketing principles in more thanone country. It is also refers to as conducting the marketing practices or promoting goods orservices at global level. American Marketing associations has defined marketing as a procedurewhich include several activities such as planning, pricing , distribution of products or services tocustomers. All these Task are executed with the intention to provide information about theservices or good offered by company and for generating the brand awareness. Objective ofinternational marketing to create exchanges that satisfy individual as well as business objectives.International marketing has evolved as modern concept which can be applied to the principles ofmarketing at global level. International marketing is also considered to be as marketing on largescale taking commercial benefit of international operation differences, similarities andopportunities in order to fulfil international objective as well as goals.The purpose of the project is to develop the understanding about the concept as well asscope of international marketing. It also has focus on identifying the routes which can be adoptedby Hilton Hotel for entering into new market. Report will highlight some approaches related tointernational marketing.TASK 1P 1 Analysing the scope and concept of international marketingInternational marketing is recognised as modern concept according to which principles ofmarketing can be applied to more than one nation. Concept of global marketing demonstrates orindicates the performance of activities carried out within an enterprise .Idea of internationalmarketing helps organisation in developing the plan for promoting goods or services as well asgeneration of brand awareness at international level. It also involves flow of products or servicesto end consumer. In addition to there are some variables which are required to be considered bymarketing manager when planning to conduct marketing activities at global level these factorsare infrastructure , competition , marketing environment , laws , social factors , distributionchannel, geography etc. International marketing is also refers to the promotional activitiesexecuted by transatlantic companies or across national boundaries. This marketing strategyutilises an extension of the techniques in use in the main nation in which an organisation isoperating (Chen and et.al., 2015)Scope
International marketing has wide scope in today's scenarios, as many of the companiesincluding Hilton hotel which is taking high initiatives for expanding business. It has becomeessential for marketing department in every organisation to develop effective marketingstrategies or plan in order to survive in international market. In present marketing environment,marketing strategies which are adopted by firm are not only confined within nationalboundaries , it has extended to international level. Now, due to increase in globalisation ,companies can avail various benefits by entering into new markers. International marketing haswide scope as business entities can product or services at global level. Rise in purchasing powerand ever changing customer taste along with the help in gaining the knowledge about these tastehas changed the shape of the world altogether. There has been tremendous growth in potentialmarket it is required by marketing manager in Hilton hotel to identify the techniques ofmarketing and develop the understanding about the market. As this activity will help firm informulating the appropriate strategies and marketing plan. This strategy will also help anorganisation in gaining competitive advantage in global marketing environment. Imports- business entities purchase product from the global market for reselling in local market.It allows an organisation to bring improvement in production and provide an opportunity toincrease profit margin.Exports-An organisation export their finalized products to international markets or on to theirother franchises in global markets where they can sell the products to their localities forgenerating high revenues as well as profits. The exports of goods or services help firm inrecovering the cost of development as well as expanding business.Contractual agreements- when an organisation plans to expand business operation atinternational level scope of international marketing exposes it to greater chances of doing a lotmore business. Business entity can form contractual agreement in terms of technical assistance ,licensing etc.Joint venturing- It is recognised as a collaborative association of two brands for a reasonableperiod. This collaboration give birth to new business venture which works individually andaccomplish goals (Bahadir, Bharadwaj and Srivastava, 2015)
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