International Marketing : Introduction

Added on - 08 Jan 2021

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INTERNATIONAL MARKETING
Table of ContentsINTRODUCTION...........................................................................................................................3P1. Analysing scope and key concepts of international marketing.............................................3P2. Explaining the rational and different routes through which company can enter theinternational market....................................................................................................................4P3. Evaluate the key criteria and selection process to use whenconsidering which international market to enter........................................................................6P4. Explaining different market entry strategies, including their advantages anddisadvantages..............................................................................................................................7P5. Presenting an overview of the key arguments in the globalversus local debate.....................................................................................................................9P6. Investigate how the marketing mixdiffers in a variety ofinternational contexts................................................................................................................10P7 Description on the various international marketing approaches..........................................11P8 Description on home and international orientation and ways to access the competitors....12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONInternational marketing is the process of planning and executing the conception, pricing,promotion, and distribution of ideas, and services to create exchange that satisfy individual andorganisational objectives. International marketing helps a company in expanding its businessoperations in global level that will help in increasing its revenue and profitability. The presentreport is based on Morrison supermarket plc which is planning to expand its business on theglobal level. The present report will help in understanding the international marketing and itsdifference from local marketing. Further, the report will discuss the rational for internationalmarketing and different routes to enter a new market. The report will explain different selectionprocess to consider the market to enter. Furthermore, the report will discuss different marketingstrategies. The report will also include a debate of global and local marketing. Later on, differentmarketing approaches are also discuss. The report will also discuss a comparison of local andinternational orientation and different ways by different approaches.P1. Analysing scope and key concepts of international marketingInternational marketing is replicated as global marketing which has gained huge scope inthe present scenario. With absence of international marketing, no company would be able to havemarketing plan. The scope of international marketing is in huge aspect such as:Import:The products could be imported for a brand which operates in similar aspectwith context to whole organization. The business purchase products which could resale toits base of potential customer which have gathered lot of hard work and gone throughtough time. On the contrary, various organization takes help through import with its ownadvantage along with improving and creating production line.Export:It is similar with context of concept for any specific brand as country. Usually,organization export their final products in global markets in other franchises which arenot near to market and products could not be sold to particular localities for producinghuge revenues. It provides extra boost for treasury of brand.Contractual agreements:In case businesses moves forward to global level, then itsscope for exposing internal marketing has high possibility of more business. Thecontractual agreements could be in form of licensing along with co-production withreference to technical assistance. Licensing includes different agreements in form of
patent, trademark along brand name and secret for organization which are allowed forapplicable fee payment.Joint venturing:This is replicated as combination of association of two brands withreference to reasonable duration. The profit, losses and investment are priorly decided inform of both duration and value as well. It provides various benefits to organisation forentering in joint venture as it raises international marketing's scope with outcome ofbarrier in foreign market as new entrant.Strategic alliances:It helps in gaining competitive advantage for long term over itscompetitors as it is very difficult task. It performs as concept and capability for incrementof innovation flow and boosts flexibility for creating responses back to market.Contract manufacturing:This tactic is used in huge aspect as it helps in decreasingproduction cost for organization who has duty of assembling the products. The otherbusiness entity through which contract is made and helps in assembling product alongwith product marketing. This is replicated as contract manufacturing as this processsegregate 50% proportion to both risk and price for encouraging to easy exit at similarduration.Fully Owned manufacturing:On basis of huge level of engagement in foreign soils,business entity could owe fully owned manufacturing in specific country. The businesscould use various facilities for selling products in country and to export to nations whichare nearby. It is international marketing scope which is involved in play aboutorganization's best interest for full control of both promotion and production withreference to target markets. In this aspect, organization sets its own facilities forassembling and creating product. It operates brand for long term interest instead ofpursuing goals of short term (Scope of International marketing,2018).P2. Explaining the rational and different routes through which company can enter theinternational market.In order to expand the company's business, its important to take business in internationalmarket. With the change in the business environment, many company's realizes the needs to getinvolved in international market. It will not only help in globalized their market, but also help toincrease the revenue as well as the customer base of the market. Following are the reasons,
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