International Marketing Management: Trends, Opportunities, and Strategies

INTERNATIONAL
MARKETING
MANAGEMENT

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
International market research......................................................................................................4
Existing consumer behaviour......................................................................................................5
Marketing strategy for the opportunity identified.......................................................................5
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
International marketing management refers to multinational process that consists of
planning, execution, pricing and promotion & distribution of goods and services. This mainly
focused on satisfying individual needs and achieving organizational objectives. The present
report is based on Marks and Spencer. The company is founded by Michael Marks as well as
Thomas Spencer in the year 1884. It is a multinational retailer firm, mainly engaged in the
business of clothing, food, furniture, beauty products and home appliances accessories.
Report will identified the current trends of globalization that may affect the product.
Furthermore, it will carry out research that provides opportunity to the product on international
basis. Study will examine the customer behavior towards the products which are competitive in
nature. Moreover, it will demonstrate the current opportunities in accordance with the product.
Project report will develop a marketing plan. Lastly, it will provide a conclusion.
Evolution of product with globalization
In the era of globalization the competition among the firms has been increased. This
comprises of product differentiation, competitive pricing and cost strategy in the target markets.
Emerging technologies is providing competitive benefits to the company (Morgan, N.A., Feng,
H. and Whitler, K.A., 2018).
In today’s world as it seems clearly that globalization plays vital role in giving Marks and
Spencer a competitive edge. Hence, firm is going to developed business plan that intent to
control overseas operations in local markets. The Company is going to introduced new range of
organic food products. As this product contains less pesticide and doesn’t contain any color
preservatives, it will surely improve the health of people. Thus, customers will purchase more
often such type of products. This will helps to increase the profitability of the company.
Current Global trends
Technological advancement – Emerging technological benefits helps to achieve greater
efficiency for the employees of Marks and Spencer. By technological up gradation they are able
to perform their business tasks in more efficient manner (Samiee, S., 2020). Modern agricultural
techniques and machinery will help to produce organic product faster. Automatic feeding
machines are also in trend. Thus, technology improvement surely gives competitive advantage to
the company.