International Marketing: Scope, Key Concepts, and Strategies

This presentation provides an overview of international marketing, including its scope, key concepts, and strategies. It explores the opportunities and challenges of marketing internationally and discusses various market entry strategies. The presentation also covers market evaluation criteria and provides recommendations for marketing internationally. References are included for further reading.

International Marketing

• Introduction
• Scope and key concepts of international marketing
• Rationale for an organisation
• Opportunities and challenges that marketing
internationally
• Key criteria and selection process
• Different market entry strategies
• Market evaluation criteria, strategies and make
recommendations
Table of content
• Evaluation of international market context
• Key arguments in the global vs local debate
• Evaluate the context and circumstances
• Opportunities and challenges that marketing internationally
• Product, pricing, promotional and distribution approach
• Marketing mix in different international markets
• Market evaluation criteria, strategies and make
recommendations

• Various international marketing approaches
• Compare home and international orientation
• Evaluate several marketing approaches
• Recommendations
• Conclusion
• References
Table of content

Introduction
International marketing is an activity and application of marketing principles to fulfil the
range of requirements and demands of several individual residing cross wise the national
borders. Basically, international marketing refers to a business environment in which
companies of different nations can operate their business and offer their goods and services
to people of different country with the motive of providing satisfaction to their desire.

Scope and key concepts of international
marketing
International marketing can be described as planning, determining, performing and
publishing the commodities and facilities of an organisation at international extent and
provide satisfaction to the demands and desires of consumers who living in several
portions of across world. If the company does this kind of marketing then it is
acknowledged as international marketing.

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There is wide scope when a company operates globally such as:
•During the time of international expansion, the firm ware with several trends, needs, and culture
and market requirements. Then by producing goods and services according trends and needs of
target audiences, it can retain them till long time period and make growth in economic system of
establishment.
•If the business venture operate internationally and offer commodities and facilities as per
customers’ demands, then it can make improvement and growth in business by developing
productivity, profit margins and target audiences

In Ledbury, the management desires to expand in its business at global extent and the
rationale behind it is described as under:
Hire new or fresh talent- It is another reason of making business expansion at global
level. BY running business globally, the venture will hire new and fresh skilled as well as
well qualified workers who assist it in running it in more effective way.
Rationale for an organisation to want to market
internationally

Various routes to market the company
Direct route- In Ledbury, the management of the company can choose thus way because it
makes direct contacts with the individual of international marketplace with the motive of
increasing sales of commodities and services
Indirect route- It is another route to market and this method include the channel that help
the company to make contact with its customers.
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Challenges and Opportunities of International marketing
Opportunities
•It also provides opportunity to make development in the market size and chare, increasing
profitability and improving productivity.
Challenges
•The main challenge is alteration and changes in laws and regulations as well as government
policies of several nations that affect business of establishment.
Opportunities and challenges that marketing
internationally

Cost of labour- In China, the cost of labour is low and cheap in comparison to UK so the
administration of Ledbury is decided to expand business and get entry in this international
market. This will be effective to the firm to save its labour cost.
Growth potential- It is other criterion to select a market where an establishment can
operate its business effectively
Key criteria and selection process

Selection activities of marketing
International marketing objectives- It is foremost step of this process that refers that
management f organisation framed aim before get entry in international marketing like growth
of business, earning profitability and satisfying consumer’s needs and desires etc.
Short listing market- After analysing and understanding the parameters of selecting entry
method, the management of company can choose a market place on the basis of selected
variables.
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There are several methods that an organisation can accept in order to get entry in to a new
market place. In reference to Ledbury, the description of several market entry routes is as
under:
Franchising-It is a way and method by which an establishment can get enter in to market
with the purpose of running its business globally and satisfied need of international
consumers. In Ledbury, with the help of it, the owner of the firm acquires distributors by
related suppliers.
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Joint Venture- It is another effective market entry route and it is type of partnership but
there is only an organisation or person to make partnership in reference to operate business. It
can be an agreement of two ventures that they combine their marketing strategies with the
purpose of earning profitability and maximising market share.
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Market evaluation criteria
An establishment can evaluate the market for the business by using different criteria; some of
them are defined as below:
Market size- It is the main tool and technique to measure a specific market. The
management of the business form can analyse that how many customer are appropriately and
actively buying the goods and facilities of company under which the venture operating its
business.
Market evaluation criteria, strategies and make
recommendations

From the above mentioned information it can be critically evaluated that Joint venture is
an efficient and appropriate strategy and plan of action that can be accept by the
administration of Ledbury in term of making business expansion in different nations.
Because with the assistance of it, business venture can make partnership with other
organisations that are already operating their business in respective business industry ad have
a good brand image. It will enable in setting up the business of respective company.
Evaluation of international market context

It is generally acknowledged that international marketing is appropriate for
establishments as it assist in offering success and development chances to increase sales,
profitability ratio and market share of organisation by offering better and quality products
and facilities to its consumer according to their wants and demands. So that they can show
their interest and stay with the company till long time duration.
Key arguments in the global vs local debate

There are ranges of situation in which a business venture like Ledbury can accept local
and global approach. In term of making development in sales, profits and number of
consumer base, the firm can adopt global approach. Within it, the firm can its business in
number of nation and offering its goods and services as per consumer needs of new market as
it will assist in deal with the circumstances of lack of sales, profit and customer base.
Evaluate the context and circumstances

Marketing mix indicates to the set of activities, strategies and tactics that a business firm
utilises to publish its brand and commodities in marketplace. It considers multiple area of
focus as section of a comprehensive marketing plan. To make concentration on a marketing
mix assists companies make strategic determinations when launching new commodities or
revising existing commodities.
Product, pricing, promotional and distribution
approach

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4P's of Marketing London China & International market
Product The establishment provide a range of food items
and drink in its local nation like veg and non-veg
food, egg dishes, drinks and many more.
In this country, the company can expand its business with
the help of making differentiation or innovation in its
current food items. In China, mainly population prefer
liquid commodities. So the establishment can provide
them a range of pure, organic and healthy food items and
drink products (Morgan, Feng and Whitler, 2018).

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Price The administration of respective firm use penetration and
competitive price and cost for its products and services.
At the time of making globalisation and operating business in
China, the firm can follow and adopt, skimming, competitive and
penetration pricing strategies.
Place The enterprise offers its food items and facilities in its
restaurant that are situated in several destinations in UK.
During the time of operating business in China, the administration
of respective venture can adopt online way of distribution of
commodities as now these people highly prefer to online
purchasing of goods.

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Promotion In the home nation, the administration of
the firm generates awareness about its
commodities by utilising news paper,
social media, TV, web advertisement and
others (Hult and et. al., 2018).
In China, the administration of the respective
Ledbury can publish or generate awareness
about its business, food items and facilities by
utilising traditional tools and techniques of
promotion such as TV, Newspaper, print
media, radio and social media and many more.

In global market, the firm should adapt marketing mix as international markets should
have an open mind on the level of standardisation to be accepted in different known markets.
They should look at each market closely and determine if an element of the marketing mix
can be standardised.
Marketing mix in different international
markets

In different international context, a firm like Ledbury can apply marketing mix in term of
promotional tool or marketing strategy, creating awareness about the goods, facilities, cost
and place of availability of commodities. It is crucial for company because it help in brief
information about the establishment products & services and their process etc. when company
operate in different nations of world.
Marketing mix is applied to a range of
international contexts

There are different marketing approaches and methods which can be accept by the
administration of Ledbury at the time of global marketing. Some of them are explained as
under:
Multinational- These are the companies which have their outlets or provide services located
in several countries whereas each and every location runs and functions in its form. These
types of enterprises have their offices and factories in different destinations and locations but
centralised head office in that nation where they coordinate global management
Various international marketing approaches

Home orientation is acknowledged as the better method by which companies can make
effective notice in reference to communicate each situation of marketplace with workers in
working environment. With the assistant of this orientation scenario Ledbury company can
offer quality food items and facilities effectively in domestic nations as well as other nations.
Compare home and international orientation

Implication: It demonstrates the immense relation among local and global nations for
Ledbury.
Ways to assess competitors: As per this tool, rivals do not have string authority so that
there is less options of harm the reputation of an establishment. Thus, it is crucial for an entity
by offering them low risk of competition in market.
Compare home and international orientation

Implication: This kind of directions always provides as the rivalry benefit all over the
rivals for Ledbury along with this it can be assures that they can remain for long time frame in
market.
Ways to assess competitors: By having high rivalry, the management of Ledbury can form
unique approaches and techniques in reference to minimise rivalry and capable to earn
effective goodwill in market by having efficient position at international level.
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There are several marketing approaches and methods like paid advertisement, internet
marketing, word of mouth promotion, transactional marketing and diversity marketing which
can be adopt by Ledbury in term of creating awareness about its food items and services.
Competitor analysis is an activity of finding out the rivals and the administration can follow
such phase like indentify gaps in marketplace, develop new goods and services, uncover
market trends and do marketing more efficiently. With the help of them, the establishment can
gain information about its competitor in local and global market.
Evaluate several marketing approaches

In context of Ledbury, it can be suggested to make development and maximise options of
growth, the firm can make changes in its pricing strategy, offer quality products and services
and use innovative technologies of promotion. This will assist in making development in
business of respective firm at global level.
Recommendations

This has been summarised form the above mentioned information that international
marketing is an effective process and activity of operating business globally and fulfilling
needs and demands of them by offering commodities and services as per their requirements. It
assist in growth and development of business organisation and enable in offering several
opportunities to a company in term of making enlargement and success in its business by
operating business international extent by accepting several routes and strategies of global
marketing.
Conclusion

• Morgan, N.A., Feng, H. and Whitler, K.A., 2018. Marketing capabilities in international
marketing. Journal of International Marketing, 26(1), pp.61-95.
• Paul, J. and Mas, E., 2019. Toward a 7-P framework for international marketing. Journal
of Strategic Marketing, pp.1-21.
• Christofi, M. and et. al., 2018. Customer engagement through choice in cause-related
marketing. International Marketing Review.
References

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