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International Marketing Assignment - Delice Cafe company

   

Added on  2020-10-23

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International Marketing
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1 Scope and key concepts of international marketing..........................................................1P2 Reason for entering into global market and market entry routes......................................2TASK 2............................................................................................................................................4P3 Selection process to enter into the international marketing..............................................4P4 Different market entry strategies and their advantages and disadvantages.......................5TASK 3............................................................................................................................................7P5 Global V/S local marketing .............................................................................................7P6 Different product, price, place and promotional approach in a variety of internationalcontexts. .................................................................................................................................9TASK 4..........................................................................................................................................11P7 Various international marketing approaches for Delice Cafe.........................................11P8 Compare home and international orientation and ways to assess competitors, outlining theimplications of each approach..............................................................................................13CONCLUSION .............................................................................................................................15REFERENCES..............................................................................................................................16
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INTRODUCTIONInternational marketing is the process of doing business in another country with the aimof achieving organisational objective(Kumar, 2015). Each firm aims to expand business in globalmarket so that it can gain competitive advantage and can gain attention of mass audience. Present study will be based on the Delice Cafe company it is a local business of UK.Recently company has only one shop and earn reasonable profit only. It is planning to expandbusiness internationally. Report will include scope and concept of international marketing and various marketentry routes. Further more it includes the comparison between local marketing and internationalmarketing and different approaches of international marketing(Demangeot, Broderick and Craig,2015).TASK 1 P 1 Scope and key concepts of international marketingDelice Cafe is a local cafe shop that offers limited cafe items such as coffee etc. toconsumers. Its main target market is students and youngsters those who like to spend time withfriends and families. It offers cost effective products to consumers so that customers like to comehere again and again. International marketing refers to a strategy which is adopted by the firm to satisfy theneeds and wants of the global market. It simply refers to promoting the goods and services tocustomers in more than one country for earning maximum profit (Stiglitz and Rosengard, 2015).Local marketing refers to the marketing which is done inside the geographical boundariesof the country while International marketing refers to the marketing which is done outside thegeographical boundaries of the country. Local marketing has less interference of governmentwhile in international marketing have interference of government. In local marketing lesstechnology is used while in global marketing more technology is used. In local marketing thetaste and preference of the consumer remains almost same as compared to global market theretaste and preference vary from person to person. Risk is low in local marketing but in globalmarket risk is very high because of change in the country's environment. Scope and opportunitiesfor local market is limited as compared to global market. It has more opportunities and scope inthe business(Dinnie, 2015).Scope of international marketing1
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International marketing has a wide scope as follows: 1.Imports : It refers to buying of goods and services from outside the country. As globalmarket has wide range of scope in the business as importing goods from national bordershelps in building the good relationship with different countries so that trade procedurebecomes easy2.Exports: It refers to shipping the goods and services to other countries. Through exportsforeign market value increase which in return generate benefit to country to expand theirrevenue income and also engage in exchanging currency rates.3.Contractual agreements: It helps to expand the business and have developed lots ofopportunities to grow in the business through different contractual agreements withdifferent companies(Boehe, Qian and Peng, 2016).Concepts of international marketingI.Differential advantage: Company can gain the advantage by giving differential product totheir customer as compared to its competitors.II.Focus: Focus is required to gain the competitive advantage and customer value in theglobal market. For getting success in the global market different principles is required tosatisfy the global needs of the customer (Javalgi and La Toya, 2018).P2 Reason for entering into global market and market entry routesReasons for entering into global marketThere are several reasons to enter into the global market for the purpose of expandingbusiness and to grab the external opportunities for the company are as follows:Government policies and regulations: Different countries have different rules andregulations so for establishing business in the U.K. Delice Cafe have to adopt the rulesand policies of that country. Government may impose policies and barriers to expandtheir business but there are no such restrictions on the investment in the global market soDelice Cafe can enter into the global market (Jean and et. al., 2016). There are manycountries where trade laws are flexible and company can get raw material from homecountries. That will help Delice Cafe to establish its branch in new geographical locationand firm will be able to run business in cost effective manner.2
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