Scope and Concepts of International Marketing

International Marketing

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1 Scope and key concepts of international marketing...............................................................3
P2 Rationale to want to market internationally and various routes to market the organization. .4
P3 Key criteria and selection process to use when considering which international market to
enter..............................................................................................................................................5
P4 Different market entry strategies including advantages and disadvantages of each..............6
P5 Overview of the key arguments in the global versus local debate.........................................7
P6 Product, price, pricing and promotional distribution approach differs in a variety of
international contexts...................................................................................................................8
P7 Analyse various international marketing approaches organization can adopt........................9
P8 Home and international orientation and ways to assess competitors, outlining the
implications of each approach.....................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
International marketing is when the principles of marketing are applied in more than one
country. It consists of more than local market and going beyond to national borders. Brakes do
distribution of foods and drinks to the catering industry in UK with their 20 distribution centres.
Company was founded in 1958 and now is the subsidiary company of Sysco corporation. This
report will discuss about scope and concepts of international marketing and also the rationale
wants to market internationally and various routes to market the organization. Further it will
evaluate key criteria and selection process to use when considering which international market to
enter. Analysing different market entry strategies, including advantages and disadvantages and
presenting an overview of the key arguments in the global versus local debate. This study will
also investigate how the product, price, pricing and promotional distribution approach differs in
international context and analyse the international marketing approaches client organization can
adopt and also compare home and international orientation and ways to access competitors,
outlining the implication of each approach.
MAIN BODY
P1 Scope and key concepts of international marketing
International marketing also called global marketing having good scope in today’s world.
Without having internal marketing plan, business can’t survive internationally. Due to
globalization, marketing strategies are not limited within the boundary of the country. Now the
world’s market is open for everyone and one can enter any market. The scope of international
marketing is growing more and more than compare to the past. Many developing and developed
countries has become the potential markets for promoting the products internationally. Customer
taste has changed along with that increased in the purchasing power of the customer, changed the
approach of the market (Katsikeas, Leonidou and Zeriti, 2019). Now promotion of the product
plays important role because the number of the potential markets are growing day by day. Some
more scopes are-
Imports: Business import products from different countries and then sell it within the potential
buyers of the countries (Hult and et.al., 2018). Companies also do import for their own company
like for improving the production line, which help them to reach their objective.

Joint Venture: When two organizations come together for some specific period. This activity
forms new organization which work individually and have their own separate goals (Paul and
Mas, 2020). In a joint venture profit and loss are divided in a certain ratio by two companies.
This option is very useful in those case where outsiders are not allowed to own the business in
some countries.
Exports: Company export their final products to different international markets, in which those
products are sold to the local consumers. Along with final goods, semi-final goods are also
exported. It helps in growth of the companies.
Contractual agreements: Company makes contractual agreements with other companies, this
can be done in terms of licensing or technical assistance. Licensing includes patents, trademarks,
brand names etc which can be used by the company by paying fee, which is the one-time
investment (Sheth, 2020).
Contract Manufacturing: This method decreases the cost of production of the companies. The
company with whom contract is made assemble the product and keep the product in the
marketing. It reduces the price and risk and also come with the easy exit option.
P2 Rationale to want to market internationally and various routes to market the organization
Brakes group want to go into the international market because for the growth and expansion.
New market will bring new opportunities through which more revenue can be generated. By
growing internationally, company will improve its profit margins. It will also increase the
customer base (Eteokleous, Leonidou and Katsikeas, 2016). Company will build reputation and
loyalty at the international market. Company is also searching for those countries where they can
reduce cost of production. It will also open new investment opportunities. Company want to
diversify their business in the new markets. International markets can provide low costs raw
materials. By doing business in multiple countries help to bring innovation. The market share of
business will increase and brakes want that as well. Company can even achieve economies of
scale because they knew that expansion will reduce total product costs and helps to achieve core
competencies.
Along with some opportunities some challenges will also come which can be the local
knowledge it comes with local expertise, to find someone who is very well aware about local
things are challenging. To face global economy is another challenge it has its own advantages