International Marketing Management: Market Entry Strategies and Global Trends

Verified

Added on  2022/11/29

|12
|2848
|219
AI Summary
This report discusses international marketing management, focusing on market entry strategies and global trends. It explores various ways to enter foreign markets, such as exporting, franchising, licensing, and joint ventures. The report also highlights the importance of understanding country-specific communications and the concepts of standardization and adaptation. It concludes with insights on how Green Chef can maximize growth in Germany through the successful launch of their product.

Contribute Materials

Your contribution can guide someone’s learning journey. Share your documents today.
Document Page
INTERNATIONAL
MARKETING
MANAGEMENT

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Task 1- Market entry strategies...................................................................................................3
Task 2- Global trends and their application in local environment...............................................4
Application of trends...................................................................................................................5
Country specific communications...............................................................................................6
Importance of Passport................................................................................................................6
Social media.................................................................................................................................7
Standardisation............................................................................................................................7
Adaptation....................................................................................................................................7
CONCLUSION................................................................................................................................8
Appendix 1...................................................................................................................................9
Appendix 2...................................................................................................................................9
REFERENCES................................................................................................................................1
Document Page
INTRODUCTION
International marketing management is a cosmopolitan procedure of scheduling and
implementation of concepts related to the prices, encouragement along with distribution of
information, goods and services in order to built exchange that satisfy the desires of an individual
as well as organizational objectives (Fenik, A.P., 2019). While doing international marketing it
is highly important for an individual to identify correct ways to enter within the market and thus
their development helps to enter within the correct foreign market scenario. This report will
highlight the criteria for Hello Fresh in order to determine appropriate country in order to launch
Green Chef and the major aim of this study is to maximise growth in selected country i.e.
Germany through the successful launch of Green Chef.
MAIN BODY
Task 1- Market entry strategies
Market entering strategy is a planned way to enter into the global market with an intension to
offer goods and services within new targeted market and distribute them according to the
demand and desires of consumers. At the time of doing import and export of goods and services,
the whole procedure requires proper maintenance of contracts in foreign country according to
their rules and regulations in order to specify the terms and conditions of business activity in
order to avoid any kind of future disagreements (Damnjanovic, A., 2018). There are various
ways to get enter into the foreign market and thus the Green Chef also have various opportunities
to get enter into the globalized market of Germany and Netherlands such as:
Exporting: It is the most common, traditional and well known concept of operating
within the foreign market. It is defined as the marketing of goods and services produces
in home country in order to satisfy demands and desires of consumers in foreign country.
The tendency of the exporting activity may be not to obtain much detailed marketing
information as compared to manufacturing in marketing country. Generally there are two
forms of exporting which is direct and indirect exporting through which one can transfer
their goods and services to another country.
Franchising: In this activity, the procedure has been fulfilled by two people i.e.
franchisor and franchisee. The franchisor is a supplier who allows operator or franchisee
to use the suppliers’ trademark and distribute the goods that has been offered by supplier.
Document Page
In return they will receive some amount from the franchisors. There are various countries
that have involved in the franchising activities with their proper rules and regulations. It
is basically a practise of utilizing another firm successful and well tested business model
directly. Many large organizations do such kind of practices in order to get success in
quick manner within the market space.
Licensing: It is defined as the method of foreign operation whereby a firm in one
country agrees to permit a company in another country in order to use the manufacturing,
trademark, processing and know how or some other skill provided by the licensor.
Licensing involves little expense and involvement. The only cost that is incurred within
this process is signing of agreements and policing its implementations. The whole
procedure is quite similar to the franchise operations.
Joint ventures: The concept is defined as the company in which two or more investors
share ownership and control over property rights and operations in any particular goods
and services. It is the well known and most efficient strategy of entering into the foreign
market. Green chef can also enter within the global market of Germany with the help of
this particular strategy. Joint ventures described as any form of association which implies
collaboration for more than a transitory period. It has been evaluated that in order to enter
into foreign market, Green chef can able to utilize this strategy (Braimah, M., 2018).
From this the firm can combine with foreign organization in order to fulfil their task and
requirements in appropriate manner.
Thus, with various options it has been analysed that the Green Chef must have to
adopt joint venture as it provides various benefits such as the company will able to gain
profits at low cost, share expenses, costs, benefits and risks that will help the organization
to grow their business activities effectively within the market space of Germany.
Task 2- Global trends and their application in local environment
With the expansion of economy within home country, the business may have to look forward
in order to sell their products internationally in order to get more profits or might sustain their
profit margin. But expansion of the business in global market requires certain activities which
helps the firm to get enter into globalised world (Karavdic, M., 2019). There are certain trends
that needs to be applied and through which the firm is able to get appropriate advantages.

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Growing emerging market: With the involvement of trend related to the emerging
market, developing countries see highest growth as they can come closer to the standards
of living of the developed countries. And in order to expand business activities, one has
to consider this as emerging market trend.
Speedy innovation: The pace of innovation increase as many firms are introducing new
and innovative products and services around the globe and to access information about
the concept that what to buy or purchase. New companies cannot expect to become
automatically at the forefront with the involvement of technological advancements, thus
the trend of speedy innovation will intensify as more business activities within the
developing countries acquire expertise to make innovation of business successful.
Increased business competition: With the expansion of business activities in globalised
world, western firms see more and increased competition. It is because of the reason that
companies based in developing markets often have low labour cost, the challenge for
western firms to keep ahead with faster and more innovative ways that affect the whole
industry as well as generate high degree of automation. Thus at the time of entering into
new market space of Germany, Green chef have to consider all the necessary trends and
specially their competitive firms in order to maintain their image as well as profit margins
(Ballantine, P.W., 2019).
Application of trends
It can be analysed that the effect of covid has been major in the food industry with people buying
less of packaged foods. The health advisors have also said that warm and fresh food will be
better for health of people. There has been a decline in sales and has thus affected the local
market and environment. Green chef will have to address this trend with either bringing a change
in products or by using promotional measures which emphasize that the products being used are
safe and go through double diligent measures to provide safety. It has to be advertised that the
process being followed is safe and the cans used for storage are sanitised properly before keeping
in stores (Han and et.al., 2018).
The other trend which can be seen that is sustainability in packaging. It means involving
increased usage of life cycle inventory and reducing wastage, using packaging material which is
made of eco-friendly products is sustainable measure which is also bio-degradable. Sourcing of
Document Page
such material referring to sourcing and development of packaging solutions from suppliers can
help Green Chef to make packaging through recyclable products and left-over inventory can also
come of usage for the same purpose which can save wastage and cost of buying new material.
Country specific communications
Speaking of country Germany, it is necessary to understand the perspective of how Germans
communicate in business environment. People in Germany are straight-forward and believe in
direct communication, they do not like to beat around the bush and voice opinion which is
relevant i.e. they think before they speak. This shows business deals are conducted in a
professional manner with clarity and transparency (Seidenschnur, 2021).
Secondly, people in Germany when greeting each other meet with a handshake and sign off the
deal with a handshake thus expressing solidarity. These factors can be of importance which is a
show of body language in their business environment.
Thirdly, German system is of a hierarchy one where respect is given to seniors and their advice
although a person can also give advice on the boss’ comment of own opinions where necessary.
Germany is ahead in innovation and technology which support the economy. However, they also
follow the traditional way in which traditional mode of communication is necessary.
Importance of Passport
Passport is a database which provides information about industries, economies and consumers. It
helps in sharing of access to market research about industries and consumers quickly and with
effectiveness of costs. Speaking of consumer passport, lifestyle factors like eating, shopping,
tourism, work and leisure are mentioned which can be used by Green chef for evaluating on its
target segment.
Coming to industries, it can give information of relevant industries relating to packaged food and
their products along with price ranges; this data can be used by Green chef as what new
innovative product can the company launch and at what better price.
Document Page
Social media
Social media in Germany is used by youth and elder alike in Germany (Seidenschnur, 2021).
The company can bring in communication with this segment on business of the company like the
new product offerings, discount on the products, and customer views on the product. Feedback
can be taken on the same platform about the previous product used by customers of Green chef.
Green chef can also make its social capital by taking views of people on social and relevant
issues which are related to sustainability. It can help customers realise the importance company
attaches to CSR activities and they can also become member of the same by their contribution
and supporting initiatives like recycling measures, energy efficient usage and less of wastage,
green cover replenishment etc.
Standardisation
Standardisation means company is following one single marketing policy as a benchmark to be
followed in every country where the company operates. There is an assumption that people are
alike everywhere and if given best product and service, it will surely sell. This will save extra
time to spend in research and development and also company’s budget to make one policy only.
However, it fails to see the light that different countries have different cultures and mannerisms.
Reaction of people towards a marketing policy or advertisement can be different in other
country. Western world is different where new ideas are welcome while in eastern and Asian
countries, there is a more conservative approach. A marketing ad can click in a certain part but
shall not be recognised in other part of the world.
Adaptation
It refers to the company making different policy of marketing to be used in different countries.
Company realises that people living in different countries are practising different cultures and
can have a different approach in thinking and way of perceiving a product or its policy of
marketing. The policy has to click with their culture, their economy relating to purchasing
power, their needs about the product and their likings. In a country like Japan, luxury products
won’t be able to generate much of revenue unlike USA (Kellner, 2017). People in Japan would
like to spend mostly on essentials. Speaking of Germany, people are logically based and would
go for products relevant to them. Also, the promotional activities have to match with their

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
preferences and culture. Green chef has to do research regarding this and accordingly launch the
policy which is preferred for Germany in terms of food and nutrition. For instance, people in
Germany are more health-conscious and thus would like to go for healthy alternatives like
organic food and processed products. Green chef can accordingly make a customer-oriented
marketing activity which can focus on health and nutrition.
CONCLUSION
It can be concluded that new business has to take in account various factors like market entry,
global trends being followed and local applications on the market and customer buying
behaviour, country’s culture and communication and marketing policies to be adapted to. These
were discussed in the report.
Document Page
Appendix 1
Company segments their business activities according to the people who are majorly aware and
do care about the safety and nutrition of daily food items. This category generally involves the
housewives and middle-class people who are more aware of their buying habits and thus want to
spend their money towards the good products which provide health benefits to them at effective
costs. The housewives are able to pay much attention in order to balance their nutrients at family
meals to guarantee effective health status and satisfaction of all family members most
importantly their children. Green chef is efficient enough to contribute their share towards the
betterment of the society. And thus, they segment the market area accordingly. Residents living
in high-rise society are another key segment for them in order to provide services. There are
various societies in which it is difficult to find local markets so, in such cases, the Green chef
provides effective services and delivers on-demand organic products to the doorstep of the
residents.
Appendix 2
Cultural insights of Germany
The country has a rich and cultural heritage where people are straight-forward, speak to the point
and are followers of rules and regulations. They are punctual in social and professional events. In
relation to Hall’s model, a high-context culture is there where people understand more and speak
less.
REFERENCES
Books and journals
Andoh, J.A., Narteh, B., Blankson, C. and Braimah, M., 2018, April. Export orientation and
export performance: the role of marketing capabilities and brand orientation. In The
2018 Annual Conference of the Emerging Markets Conference Board (p. 207). Wits
Business School.
Document Page
Gregory, G.D., Ngo, L.V. and Karavdic, M., 2019. Developing e-commerce marketing
capabilities and efficiencies for enhanced performance in business-to-business export
ventures. Industrial Marketing Management, 78, pp.146-157.
Han, J.W., Ruiz‐Garcia, L., Qian, J.P. and Yang, X.T., 2018. Food packaging: A comprehensive
review and future trends. Comprehensive Reviews in Food Science and Food
Safety, 17(4), pp.860-877.
Kellner, A., 2017. Human resource management standardisation and adaptation in
franchises. The Service Industries Journal, 37(9-10), pp.545-566.
Kemper, J.A. and Ballantine, P.W., 2019. What do we mean by sustainability
marketing?. Journal of Marketing Management, 35(3-4), pp.277-309.
Mujanovic, E. and Damnjanovic, A., 2018. Marketing management and social
entrepreneurship. Economic and Social Development: Book of Proceedings, pp.77-88.
Seidenschnur, T., 2021. A typology of social characters and various means of control: an
analysis of communication during the early stages of the corona pandemic in
Germany. European Societies, 23(sup1), pp.S923-S941.
Souza, V.G., Pires, J.R., Rodrigues, C., Coelhoso, I.M. and Fernando, A.L., 2020. Chitosan
Composites in Packaging Industry—Current Trends and Future
Challenges. Polymers, 12(2), p.417.
Tower, A.P., Hewett, K. and Fenik, A.P., 2019. The role of cultural distance across quantiles of
international joint venture longevity. Journal of International Marketing, 27(4), pp.3-21.

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Document Page
1
1 out of 12
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]