International Marketing: Strategies and Opportunities

international marketing

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Table of Contents
Introduction......................................................................................................................................2
LO 1.................................................................................................................................................3
1.1Overview of the company selected.........................................................................................3
1.2 The definition of international marketing and how it differs from local marketing..............4
1.3The various concepts and scope of international marketing...................................................5
1.4 The rationale for choosing to go global.................................................................................8
1.5 The opportunities and threats present in international marketing.......................................10
LO2................................................................................................................................................11
1.6 The various market entry strategy is available for the international business of The Ritz
Hotel..........................................................................................................................................11
1.7 The advantages and disadvantages of various market entry strategies................................12
1.8 The market evaluation criteria for The Ritz Hotel...............................................................14
1.9 The adoption process of international marketing in The Ritz Hotel...................................15
LO3................................................................................................................................................16
2.1 The debate about global and international marketing..........................................................16
2.2 Describing how marketing mix differs in international marketing.....................................19
2.3 How The Ritz Hotel can adapt the marketing mix in case of international marketing........21
2.4 The marketing mix of The Ritz Hotel in case of international marketing...........................23
LO4................................................................................................................................................26
3.1 The various international marketing approaches are being discussed along with examples.
...................................................................................................................................................26
3.2 The differences between home and international orientation..............................................27
3.3 The preferable approach for The Ritz Hotel........................................................................28
3.4 Recommendation for The Ritz Hotel...................................................................................29
Conclusion.....................................................................................................................................30
References......................................................................................................................................31

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Introduction
International marketing is the current business approach for business expansion. In the 21st
century through technological advancement and globalisation, the whole world is connected.
Which creates the opportunity for the business organisation to expand its business outside the
country border. International marketing is the concept which enables the business organisation of
a country to expand their business into another country. There is various reason for choosing to
expand the business to enter the global market. There are several market entry strategies
available for a company to choose from. There are two approaches to international marketing.
First one is home orientation and another one is international orientation.
LO 1
1.1Overview of the company selected.
The Ritz Hotel is one of the most popular 5-start hotels in London. The hotel is established on 24
May 1906. The owner of the company is Ellerman Group. The architect of this hotel is Charles
Mewès and Arthur Davis. The hotel has 3 restaurants. There are 111 rooms and 23 suits present
in the hotel for servicing the customers (theritzlondon.com, 2019). The hotel is located at 150
Piccadilly, London, United Kingdom.

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1.2 The definition of international marketing and how it differs from local
marketing.
International marketing is the current business approach for business expansion. In the 21st
century through technological advancement and globalisation, the whole world is connected.
Which creates the opportunity for the business organisation to expand its business outside the
country border. International marketing is the concept which enables the business organisation of
a country to expand their business into another country(Li, Huang and K. Balasubramanian,
2016). The international marketing topic has become very important and crucial for a business
organisation to keep up in the market and expand their business activity. The differentiator
factors of international marketing and local marketing are given below.
 There is more than one country involved in international marketing.
 The customer base is very higher compared to local marketing.
 The scope of business will increase in international marketing rather than local
marketing.
 The legal constraints will also increase in international marketing.
 There are more expenses and capital needed for international marketing than local
marketing.

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1.3The various concepts and scope of international marketing.
Marketing is the combination of various elements that effects the sales of the company.
International marketing expends the sales among the international customer and increases the
customer base of the company. The key concepts in international marketing are discussed below.
Figure 1: Scope of international marketing. Source: Self-made.
Market competition
One of the most important concepts of international marketing is the present market competition
in the host country. Companies usually prefer a less competitive market while selecting a new
region for expanding their business. High competency in the market will cause the unnecessary
cost for the companies to grab the targeted market share in international business.
Chances of profit
The chances of profit are depended on various factors of a host country. The macroenvironment
of the host country is the most influential factors to be considered. In the case of
macroenvironment analysis of the host country, the PEST analysis is very helpful. Here the
political, social, economic and technological factors are evaluated.
Market competition
Chances of profit
Chances of risk
Getting higher customers base

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Chances of risk
There are many risks arises in international marketing for lack of research. Through proper target
market evaluation and market segmentation, the chances of risk can be reduced(Liftig, 2015).
But companies must have to analysis their chances of risk before entering the host country for
business expansion.
Getting higher customers base
One of the main reasons for international marketing is that companies wanted to increase their
customer base. International marketing surely gives the opportunity to the companies to increase
their number of customers.
Besides the main concepts of international marketing the scope of marketing also needed to be
discussed. Scope of marketing makes the organisation view their current position and market
expansion possibilities. The scope of marketing is given below through points.
Brining peace among nations
Trade relationships among two or more two nations bring peace and friendly relationship
betweenthe two nations(Liftig, 2015). International marketing enables two nations two to come
into and agreement and set trade policies to bring peace among them.
Reduce the risk of business
There are a lot of customers to acquire and the theatre of business is expended through
international business. More customers and the business area mean an increase in sales of the
company. More sales indicate more profits. Through this process, international business reduces
the risk of a business organisation.
Create more market opportunity
There are more areas given through international marketing. Also, various market conditions are
present and industry trends are different in multiple countries. Various industry conditions and
macroenvironment condition the business organisation can create more business opportunity in
international marketing.

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Growth of economy
Through international marketing, a country can use its absolute advantage and natural resources
to expand its economy. The GDP of the home country will be increased and the host country can
increase its efficiency by meeting the demand of the consumers(Liftig, 2015). International
marketing plays a vital role in expanding the economy.

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1.4 The rationale for choosing to go global.
There is various reason for choosing to expand the business to enter the global market. The
rationale for selecting enter the global market is given below.
Figure 2: Rationale for international marketing. Source: Self-made.
Earning more profit
One of the main reasons to enter the global market is that companies will earn more profit. There
are more customers and wide areas to cover the business. So the chances of profit are higher in
international business.
Skilled employment
In the host country if they have better-skilled employees than companies can grab more skilled
worker to improve and increase the efficiency of their business activities(Jayanthi, Sivakumar
and Haldar, 2016). So to gain more skilled workforce companies wanted to enter the global
market.
Earning more
profit
Skilled
employment
More
advanced
technology
Diversification Inflation
control