International Marketing(IM) Assignment

Added on - 06 Jun 2020

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International Marketing-Individual1
TABLE OF CONTENTSTable of Contents.............................................................................................................................2INTRODUCTION...........................................................................................................................31. Impact of globalisation on the business..............................................................................32. Critically evaluating the new market entry and the challenges in international markets...5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................92
INTRODUCTIONInternational marketing is quite useful for the company to promote its products globally.Present report deals with Yankee Candle company which is an American manufacturer odscented candles, dinnerware, candleholders and is planning to expand its operations in EU.Globalisation impact can be seen in today’s scenario and as such, various marketing strategies,international market entry strategy are listed in this report. Furthermore, social and culturalconventions with respect to customer buying behaviour is discussed as well.1. Impact of globalisation on the businessThe organisation expands its reach to new markets so that it may be able to garner morerevenue and as such, objectives are met in effectual manner. However, global businessenvironment has to be taken into account so that no wrong decision is made which might bedangerous for the company. Thus, it is required to carry out the market research in order toconstruct and implement strategies which would help business to flourish in the best possibleway. Yankee Candle, which is an American manufacturer, is planning to expand its reach to EU(European Union) for garnering revenue and increased its market share up to high extent. Inrelation to this company requires to accomplish market trend so that maximum benefits can beextracted and objectives can be easily met with much ease (Leonidou, Katsikeas, Samiee andAykol, 2018).International business environment is greater aspect which is required to be assessed inthe best possible manner. Yankee Candle, which is planning to expand its operations in theemerging EU market, is require to assess whether it will be fruitful for it or not. for overcomingthis, market research plays crucial role so that product may be sold in relation to preferences ofcustomers and as such, marketing of scented candles dinnerware and other products of thecompany may be sold with much ease (Katsikeas, 2018).The company should assess international business environment so that it may be able togain competency in the best possible manner. To expand globally, company should assess costsand as such, it is required to implement strategy for accomplishing goals. Expanding to EU is acostly affair for Yankee Candle and as such, it is essentially required that company should growin the region where demand for the products are high and competition is comparatively less.3
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