International Marketing: Approaches, Strategies, and Analysis

This report delves into the realm of international marketing, analyzing various approaches and strategies for global expansion. It begins by defining international marketing and highlighting its broad scope. The report then explores different approaches like the product or commodity approach, the institutional approach, the functional approach, and the management approach. It also compares home and international market orientations, emphasizing the importance of understanding customer needs. Furthermore, the report details how to assess competitors, outlining key factors such as identifying competitors, understanding their customer base, recognizing their strengths, and analyzing their market orientation. The conclusion emphasizes the significance of international marketing for business growth and the various market entry methods available. The report also acknowledges the influence of various factors in international marketing and provides references to relevant academic sources.

INTERNATIONAL
MARKETING

INTRODUCTION
International marketing is define
as the type of marketing which is
done outside the geographical
boundaries of the nation. Scope of
international marketing is wide
and there are lots of approaches
which a company can follow to
enter in a new foreign market.

various international marketing
approaches
• Marks and Spencer can follow various international approaches which are:
• Product or commodity approach
• Under this approach the main focus is in the their offerings or it is regarded
as the offering which is based on commodity. This can be related to the
movement of particular good from the producer to the ultimate customer.
standardisation etc.
• Institutional approach
• In this particular type of approach focus is mainly non the study of
institution which h includes middlemen, wholesalers, retailers, sup[pliers,
exporters, importers , warehousing and etc. which are involve in the
process of marketing during the movement of offerings.

CONTD...
• Functional Approach
• This approach provides more importance to functions which are related to
marketing. It concentrates on the services which are specialised or those
junctions which marketers performs.
• Management Approach
• It concentrates on those activities or functions related to marketing and
decisions associated with the firm. It includes those approaches where
manager is concerned with handling specific problems and situations. This
approach leads to the valuation of current market practices for achieving
specific marketing objectives. There are two types of factors which can be
controllable or uncontrollable, which has a influence on the decision
making.

Comparison of home and inter national
orientation and ways to assess
competitors
• Market orientation is defined as the philosophy of a company which
focuses on the process of discovering the needs and desires of customers
and fulfilling it with their product mix
• Home orientation is based on the aspects of two concepts which includes
product and marketing orientation, which includes business processes that
kind of a product which is has a ease in production not according to the
customers whereas as marketing orientation business is developed in the
basis of the want of the customers.

CONTD...
• Assessing different competitors has some following criteria such as
• Determination of number of competitors
• Who are the customers and what is the benefit they are getting
• What are their key strengths
• What are their key success factors
• What market orientation they are adopting.

CONCLUSION
• It has been concluded that international marketing is very important aspect
for those firms which wants to expand their business globally.
• There are various approaches to reach in the market such as mergers and
acquisition, licensing, joint ventures , franchising etc.
• Also one has to take care of many factors which has a major influence in
the international marketing.

REFERENCES
Books and Journals
Armstrong, G. and et.al., 2015. Marketing: an introduction. Pearson
Education.
De Mooij, M., 2015. Cross-cultural research in international marketing:
clearing up some of the confusion. International Marketing
Review.32(6).pp.646-662.
Online
International marketing mix strategy. 2018. [online]. Available through
<https://ceopedia.org/index.php/International_marketing_mix_strategy>