International Marketing: Scope, Concepts, Opportunities and Challenges

International
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Scope and key concepts of international marketing...............................................................1
Main differences between international and local marketing.................................................2
Rationale for willingness to market internationally...............................................................3
Opportunities and challenges associated with international marketing.................................3
Task 2...............................................................................................................................................4
Routes to market internationally and recommendation..........................................................4
Key criteria and selection process while entering international market.................................5
Market entry strategies...........................................................................................................7
CONCLUSION AND RECOMMENDATION...............................................................................8
TASK 3............................................................................................................................................8
Introduction to company and current market.........................................................................8
Differences between global and local marketing...................................................................9
Key arguments in relation to local v/s global marketing........................................................9
Investigation of product, pricing, promotion and distribution approaches..........................10
Task4..............................................................................................................................................11
International marketing approaches.....................................................................................11
Home v/s international orientation along with ways to assess competitors.........................12
Conclusion and recommendations based on marketing mix and structure of company......12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
International marketing refers to the process of applying marketing principles at a global
level to fulfil the needs and demands of people in different parts of the world.This concept is
based upon a strategy which is developed and devised by an entity in the home nation and then
distributed to their other offices(Amankwah-Amoah, Boso and Debrah, 2018).. The present
report is based upon Ma Baker which is a micro bakery situated in the middle of Fulham,
London.
This report is divided into two tasks. The first part comprises of the scope and concept of
international marketing, rationale for company to market globally, opportunities and challenges
associated, routes to market internationally. Also, it contains description of market entry
strategies along with their advantages and disadvantages as well as recommendations for entity.
The second part consists of introduction to company and their existing market, difference
between global and local marketing, description of international marketing approaches and
comparison of home and international orientation.
TASK 1
Scope and key concepts of international marketing
According to Czinkota and Ronkainen (2013), international marketing comprises of
activities, procedures and institutions across the national borders which tend to create
communicate and exchange offerings that hold significant value for society as well as
stakeholders.
As per the views of Armstrong and et. al. (2015), international marketing refers to the
application of marketing capabilities and orientation onto international business.
Scope
In general terms, international marketing can be defined as the performance of business
activities which align the flow of products and services of a company towards consumers within
more than one nation for the purpose of profit making. In today's modern world, this concept has
a vast scope owing to the increasing awareness about globalisation within corporate world. The
scope of international marketing is given below:-
Contractual Agreements: When a business carries out expansion, international
marketing provides opportunities to expand the market, consumer base, volume of sales and
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profits. Here, companies grow exponentially by entering in a contractual agreement with
overseas partners. With the help of the Ma Baker can expand its business beyond the domestic
boundaries and can efficiently expand their market share, sales and the profitability as they can
enter into partnership with others who has better understanding of the market.
Fully owned manufacturing: An entity which possesses significant interest within
foreign market can establish fully owned manufacturing facilities within that nation. The factors
such as cost differences, government policies, and trade barriers encourage the company to set up
production unit abroad to earn total control over manufacturing and quality. With this the Ma
Baker has an opportunity to easily expand their market share by establishing their bakery so that
they will have their own control but as the requirement of funds for this is high due to which they
may not be consider it as better option.
Key Concepts
A number of concepts are linked with international marketing, these are defined below:-
Domestic Marketing: In this, marketing is specifically targeted only towards the home
nation. A purely domestic organisation operates domestically only and has no intentions of going
global. As the Ma Baker has been operating on small scale as it a medium organisation they are
operating domestically and in the recent year with lesser investment they cannot enter into
international market.
International Trade: This is largely concerned with flow of products and services
among the nations. The major purpose here is to earn knowledge of influence of commercial and
monetary conditions upon resource transfer between nations and BOP (Balance Of Payments).
Ma Baker can expand their market on international level when they will have better availability
of the funds as well as when other conditions will be in favour of the company.
The businesses need to determine the scope of various international marketing as well as
various concepts related to this so that they can easily plan their expansion with the help of
various concepts such as by way of fully owned manufacturing it may be risky for the
organisation such as Ma Baker while the contractual agreements are beneficial for them as this
facilitate them to expand with minimum risk and investment in both national and international
market.
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