International Marketing: Scope, Concepts, and Strategies for Marriott International
VerifiedAdded on 2023/06/14
|13
|4295
|440
AI Summary
This report discusses the scope and concepts of international marketing, reasons for Marriott International's desire to deal internationally, routes to enter international markets, key criteria and selection methods, market entry strategies, global vs local debate, and differences in pricing, product, promotional, and distributional approaches. It also evaluates opportunities and challenges that marketing internationally presents to organizations and provides critical evaluation of international market involving insight into how organizations adapt marketing strategies for several markets. The report is analyzed on the basis of Marriott International.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
International
Marketing
Marketing
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The scope and key concepts of international marketing........................................................3
Reasons for which Marriott International is desiring to deal internationally.........................4
The numerous routes to enter international market by the company.....................................4
Key criteria and selection method to be utilized in analysing the choice of new market......5
Different market entry strategies with benefits and side effects............................................6
Elaborate key arguments in global vs local debate................................................................6
Describe the way in which pricing, product, promotional and distributional approaches are
different..................................................................................................................................7
Different marketing approaches which an international company can acquire.....................8
Different ways to approach in local and global and the way competitors implicate..............9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The scope and key concepts of international marketing........................................................3
Reasons for which Marriott International is desiring to deal internationally.........................4
The numerous routes to enter international market by the company.....................................4
Key criteria and selection method to be utilized in analysing the choice of new market......5
Different market entry strategies with benefits and side effects............................................6
Elaborate key arguments in global vs local debate................................................................6
Describe the way in which pricing, product, promotional and distributional approaches are
different..................................................................................................................................7
Different marketing approaches which an international company can acquire.....................8
Different ways to approach in local and global and the way competitors implicate..............9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION
International marketing is the process of marketing among many countries which are
export, licensing, franchising, foreign direct investment and joint venture of the global firms.
They deal in worldwide customers so as to satisfy their needs by diversifying (Bilro and
Dias2022). This report will cover the scope and concepts on international marketing, the
rationale for the company dealing markets internationally, the numerous routes it can take,
criteria as well as selection method utilized while entering a new market, examples of numerous
market entry stages then their benefits and side effects, concept of global vs local debate, the way
in which product, pricing, promotional and distributional approach is different internationally,
evaluation of numerous approaches an international market acquires and the difference between
home and international orientation as well as ways to analyse the way in which competitors are
impacted by approaching. This report is analysed on the basis of Marriott International.
MAIN BODY
Marriott International Incorporation is an American company which deals in hospitality
that are hotels and logistics. It has laid down more than 7K properties in approximately 13
countries, so basically it offers 1.4 million rooms.
The scope and key concepts of international marketing
Peace among countries – The countries interact between each other which brings mutual
gain in relation with one another and as that creates the personal relations and mutual
understanding. This brings prosperity and peace in all the countries in which Marriott
International is operating.
Decrease risks and increase opportunities – The production at a new place can be cost
effective and after launching the company isn't earning profits leads to risk of entering
new markets (Dutt, 2022). Ironically Marriott International approached new population to
deal in and large number of customers.
Technical and managerial efficiency – New nations are knowing and adapting the
managerial and technological resources. Marriott International exports, trains and
operates some experts into the nations which are capable in providing workforce.
International marketing is the process of marketing among many countries which are
export, licensing, franchising, foreign direct investment and joint venture of the global firms.
They deal in worldwide customers so as to satisfy their needs by diversifying (Bilro and
Dias2022). This report will cover the scope and concepts on international marketing, the
rationale for the company dealing markets internationally, the numerous routes it can take,
criteria as well as selection method utilized while entering a new market, examples of numerous
market entry stages then their benefits and side effects, concept of global vs local debate, the way
in which product, pricing, promotional and distributional approach is different internationally,
evaluation of numerous approaches an international market acquires and the difference between
home and international orientation as well as ways to analyse the way in which competitors are
impacted by approaching. This report is analysed on the basis of Marriott International.
MAIN BODY
Marriott International Incorporation is an American company which deals in hospitality
that are hotels and logistics. It has laid down more than 7K properties in approximately 13
countries, so basically it offers 1.4 million rooms.
The scope and key concepts of international marketing
Peace among countries – The countries interact between each other which brings mutual
gain in relation with one another and as that creates the personal relations and mutual
understanding. This brings prosperity and peace in all the countries in which Marriott
International is operating.
Decrease risks and increase opportunities – The production at a new place can be cost
effective and after launching the company isn't earning profits leads to risk of entering
new markets (Dutt, 2022). Ironically Marriott International approached new population to
deal in and large number of customers.
Technical and managerial efficiency – New nations are knowing and adapting the
managerial and technological resources. Marriott International exports, trains and
operates some experts into the nations which are capable in providing workforce.
Wide market – The firms can handle population of more than one country, Marriott
International targets its desirable nation and expand its territories. The hotels developed
across many countries capture diversified market.
Competency – The firms entering in a new market should be capable of competing the
other country's domestic countries. Marriott International offers highly preferable hotels
in all the nations that is competent enough than their domestic hotels.
Contractual agreements – Licensing agreements, patent licensing, business law,
production agreements with import and exports in nations according to the terms,
conditions, excise duty (Goutam, Ganguli and Gopalakrishna, 2022). Marriott
International can easily co-operate all these terms of contractual agreements among the
nations.
Reasons for which Marriott International is desiring to deal internationally
Income increases – The revenue sources are diversified among nations in which the
company deals. Marketing Marriott International globally leads to expansion of revenue
sources as they provide rooms and facilities among most of all nations. They shift their
hospitality industries in the healthier economy nations as they know can afford to invest
in their servings.
Demand fluctuations – The demand in market is sometime high and sometime low as
per the factors affecting economy. The Marriott International also tackles demand
fluctuations in different nations, the customers mostly shift to the substitutes who offer
more convenient rooms as Marriott is expensive.
The numerous routes to enter international market by the company
Licensing – It admits a company in a targeted nation for utilizing resources. Marriott
International have their own trademark, production techniques and patents which are
licensed in the nations they pay fees to get the allowance.
Franchising – The intellectual property rights should be granted by the government in
order to carry out the trading of the company. Marriott International handles all the strict
policies imposed by the governments in all nations and gets the franchising from them.
Joint Venture – It means that there are two firms operating which is owned by a single
owner. Marriott International established into joint venture since 2017 with Alibaba
Group, this advantaged in expertise, technology, customisation and customer insights.
International targets its desirable nation and expand its territories. The hotels developed
across many countries capture diversified market.
Competency – The firms entering in a new market should be capable of competing the
other country's domestic countries. Marriott International offers highly preferable hotels
in all the nations that is competent enough than their domestic hotels.
Contractual agreements – Licensing agreements, patent licensing, business law,
production agreements with import and exports in nations according to the terms,
conditions, excise duty (Goutam, Ganguli and Gopalakrishna, 2022). Marriott
International can easily co-operate all these terms of contractual agreements among the
nations.
Reasons for which Marriott International is desiring to deal internationally
Income increases – The revenue sources are diversified among nations in which the
company deals. Marketing Marriott International globally leads to expansion of revenue
sources as they provide rooms and facilities among most of all nations. They shift their
hospitality industries in the healthier economy nations as they know can afford to invest
in their servings.
Demand fluctuations – The demand in market is sometime high and sometime low as
per the factors affecting economy. The Marriott International also tackles demand
fluctuations in different nations, the customers mostly shift to the substitutes who offer
more convenient rooms as Marriott is expensive.
The numerous routes to enter international market by the company
Licensing – It admits a company in a targeted nation for utilizing resources. Marriott
International have their own trademark, production techniques and patents which are
licensed in the nations they pay fees to get the allowance.
Franchising – The intellectual property rights should be granted by the government in
order to carry out the trading of the company. Marriott International handles all the strict
policies imposed by the governments in all nations and gets the franchising from them.
Joint Venture – It means that there are two firms operating which is owned by a single
owner. Marriott International established into joint venture since 2017 with Alibaba
Group, this advantaged in expertise, technology, customisation and customer insights.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Foreign Direct Investment – The company should be cost effective to invest in the
facilities offered by the desirable nations. Marriott International establishes new set-ups
in new countries (Lee, Sharma and Barnes, 2022).
M1 Evaluating opportunities and challenges that marketing internationally presents to
organisation
The international marketing provides the opportunity to Marriott in optimum utilization
of resources by allocating and ensuring their best use. There is international cooperation a trade
relations established through international marketing which brings all nations close to one
another and encouraging countries to work collaboratively with one another. It also provide
opportunity of expansion business in wide market which encourages industrial development.
With this there were some challenges in international marketing face by Marriott such as slow
growth in developed markets, increasing of competition and innovation in emerging markets.
D1 Producing critical evaluation of international market involving insight into how
organisation adapting marketing strategies for several markets.
The international marketing of the organisation is done at globally in several nations for
fulfilling the needs of people worldwide. In context to Marriott doing business internationally
provides advantage of high sales as there is access to wide market globally that helps business to
connect with large number of customers. It also helps in reducing cost by producing goods in
large quantities as when company trade in international market, the operations are perform at
large scale. With this Marriott face difficulties in relation to cultural differences, government
restrictions. The Marriott will take use of several marketing strategies to run its business
operations internationally such as licensing, franchising, joint ventures and foreign direct
investment. The company conducts market research to order to know potential customers,
creating marketing plan so that best marketing strategies can be adopted.
Key criteria and selection method to be utilized in analysing the choice of new market
Market concentration – A deep knowledge of the every market in which the market is
capable to design and adapt the favourable products. The consumers should prefer the
products according to their choice. Marriott International promotes its hotels in many
countries according to the economy, competition and resources.
facilities offered by the desirable nations. Marriott International establishes new set-ups
in new countries (Lee, Sharma and Barnes, 2022).
M1 Evaluating opportunities and challenges that marketing internationally presents to
organisation
The international marketing provides the opportunity to Marriott in optimum utilization
of resources by allocating and ensuring their best use. There is international cooperation a trade
relations established through international marketing which brings all nations close to one
another and encouraging countries to work collaboratively with one another. It also provide
opportunity of expansion business in wide market which encourages industrial development.
With this there were some challenges in international marketing face by Marriott such as slow
growth in developed markets, increasing of competition and innovation in emerging markets.
D1 Producing critical evaluation of international market involving insight into how
organisation adapting marketing strategies for several markets.
The international marketing of the organisation is done at globally in several nations for
fulfilling the needs of people worldwide. In context to Marriott doing business internationally
provides advantage of high sales as there is access to wide market globally that helps business to
connect with large number of customers. It also helps in reducing cost by producing goods in
large quantities as when company trade in international market, the operations are perform at
large scale. With this Marriott face difficulties in relation to cultural differences, government
restrictions. The Marriott will take use of several marketing strategies to run its business
operations internationally such as licensing, franchising, joint ventures and foreign direct
investment. The company conducts market research to order to know potential customers,
creating marketing plan so that best marketing strategies can be adopted.
Key criteria and selection method to be utilized in analysing the choice of new market
Market concentration – A deep knowledge of the every market in which the market is
capable to design and adapt the favourable products. The consumers should prefer the
products according to their choice. Marriott International promotes its hotels in many
countries according to the economy, competition and resources.
Market Diversification – The company diversifies according to its capabilities which
should match with their brands. Marriott International offers different brands which are
categories in Luxury, Premium, Select and Longer Stays according to the demand in
diversified nation.
GDP growth – It is a criteria to select a nation by judging the country's growth in
infrastructural and monetary terms. Marriott deals in those countries that are highly
developing except some of the Asian countries.
Risk – The nations have some uncertain and unpredictable risks politically,
geographically which affects security of the company. Recently the companies had been
in loss due to the pandemic, hospitality industries were impacted globally due to lock
down and different restrictions in all the countries.
Short listing - After considering these essential concepts in every market then comes the
step to select an area in which the company will launch their setup. This also includes
eliminating the market which are not meeting consideration. Marriott doesn't include the
countries in Northern Asia mostly, they are most operating in United States as a matter of
fact it is domestic country (Mostafiz, Sambasivan and Goh, 2022).
Test and set up – It is very important to start in a smaller scale then expand if successful.
The results can be met by feedback of customers who get experience. The company
handles mass production and modifications then in the growth stage. Marriott expands its
hotels in the nations widely as they grow after they start trading.
Different market entry strategies with benefits and side effects
Direct Exporting – Marriott tests the ability of their set ups in the nations by exporting
goods and experts before making a big and permanent set up in a new nation. This helps
in securing patents, goodwill and other assets.
This strategy is highly cost efficient for Marriott and takes place in a real world which takes time
in doing market research, scope and hiring workforce of the nations.
Licensing and franchising – As when Marriott enters in new market it reduces its
political and legal risks by these methods.
The company can not get full control in some cases, the firm can destroy its goodwill in the
nations where it is not competitive of licensing and franchising partners.
should match with their brands. Marriott International offers different brands which are
categories in Luxury, Premium, Select and Longer Stays according to the demand in
diversified nation.
GDP growth – It is a criteria to select a nation by judging the country's growth in
infrastructural and monetary terms. Marriott deals in those countries that are highly
developing except some of the Asian countries.
Risk – The nations have some uncertain and unpredictable risks politically,
geographically which affects security of the company. Recently the companies had been
in loss due to the pandemic, hospitality industries were impacted globally due to lock
down and different restrictions in all the countries.
Short listing - After considering these essential concepts in every market then comes the
step to select an area in which the company will launch their setup. This also includes
eliminating the market which are not meeting consideration. Marriott doesn't include the
countries in Northern Asia mostly, they are most operating in United States as a matter of
fact it is domestic country (Mostafiz, Sambasivan and Goh, 2022).
Test and set up – It is very important to start in a smaller scale then expand if successful.
The results can be met by feedback of customers who get experience. The company
handles mass production and modifications then in the growth stage. Marriott expands its
hotels in the nations widely as they grow after they start trading.
Different market entry strategies with benefits and side effects
Direct Exporting – Marriott tests the ability of their set ups in the nations by exporting
goods and experts before making a big and permanent set up in a new nation. This helps
in securing patents, goodwill and other assets.
This strategy is highly cost efficient for Marriott and takes place in a real world which takes time
in doing market research, scope and hiring workforce of the nations.
Licensing and franchising – As when Marriott enters in new market it reduces its
political and legal risks by these methods.
The company can not get full control in some cases, the firm can destroy its goodwill in the
nations where it is not competitive of licensing and franchising partners.
Joint venture – The company can jointly distribute its resources, efficiency, skills and
technology as Marriott acquires from Alibaba company and vice versa (Nguyen and
Alcantara, 2022).
There might be different cultures getting clashed, thus their dispute may result in loss and they
need to go through a complex and big legal formalities.
Strategic acquisition – Marriott gets an advantage in expertise, production facilities and
experience of their existing managerial. This helps Marriott in acquiring market rapidly.
The negative aspect for Marriott is the uncertain integration of system and process as it faces
different types of technologies in strategic acquisition.
Foreign direct investment – Marriott is able to control over their aspects and specialised
fields in their business. They can avail subsidies, tax breaks and concessions from some
governments so as to invest in the country.
They risk highly in the political areas and they need to invest substantially for entering in a new
market.
M2 Application of market evaluation criteria, entry strategies and recommending to
organisation.
The Marriott take use of several entry strategies to run its business operations
internationally. The marketing strategy is plan to expand the target market by increase of product
visibility and distributing product into new market. The having of expansion in same market
have different requirements that expansion into global market. While expanding business
Marriott is required to consider culture of new market, cost associated with entering a new
market, local and international laws of import & export etc. The Marriott has several options to
enter in new market such as direct exporting, joint venture, franchising and many more. The
company is recommended to adopt joint venture as it will provide access to new market &
distribution network, sharing of risk and costs, access to new knowledge and expertise, including
specialised staff, resources such as technology & finance.
Elaborate key arguments in global vs local debate
Research – The local marketing is obviously better than the global marketing. The
criteria of research over a large field is expensive investment for company. Local market
technology as Marriott acquires from Alibaba company and vice versa (Nguyen and
Alcantara, 2022).
There might be different cultures getting clashed, thus their dispute may result in loss and they
need to go through a complex and big legal formalities.
Strategic acquisition – Marriott gets an advantage in expertise, production facilities and
experience of their existing managerial. This helps Marriott in acquiring market rapidly.
The negative aspect for Marriott is the uncertain integration of system and process as it faces
different types of technologies in strategic acquisition.
Foreign direct investment – Marriott is able to control over their aspects and specialised
fields in their business. They can avail subsidies, tax breaks and concessions from some
governments so as to invest in the country.
They risk highly in the political areas and they need to invest substantially for entering in a new
market.
M2 Application of market evaluation criteria, entry strategies and recommending to
organisation.
The Marriott take use of several entry strategies to run its business operations
internationally. The marketing strategy is plan to expand the target market by increase of product
visibility and distributing product into new market. The having of expansion in same market
have different requirements that expansion into global market. While expanding business
Marriott is required to consider culture of new market, cost associated with entering a new
market, local and international laws of import & export etc. The Marriott has several options to
enter in new market such as direct exporting, joint venture, franchising and many more. The
company is recommended to adopt joint venture as it will provide access to new market &
distribution network, sharing of risk and costs, access to new knowledge and expertise, including
specialised staff, resources such as technology & finance.
Elaborate key arguments in global vs local debate
Research – The local marketing is obviously better than the global marketing. The
criteria of research over a large field is expensive investment for company. Local market
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
is the biggest know how condition which is in a positive aspect for Marriott hotels as they
have number of outlets which are hopeful and likely to them.
Recognising target market – The opportunity for Marriott to market globally is to
understand their targeted customers, their choices, preferences, tastes, affordability and
demand. Marriott lays down their specific brand in the suitable market. They need to
know their cultural norms before selecting the area to trade in it (Nilsson and Zillinger,
2022).
Partnering – Businesses make partne5r globally for the help in hard times, seeking
experience and collaborating with them. Marriott has a number of partners globally like
Hertz, United Airlines, Emirate Airlines, Chase Bank and American Express. They
search for an advantage in Travel and Tourism companies to collaborate with the as they
are interested in diversifying in their needs.
Execute – They need to run some campaigns and offer discounts so as to create
customers and they need to recognise their choices as well. Marriott tackles the global
markets according to their culture. They are more likely to know the culture of their home
industries. They have to display advertisements and make some partners and references
so as to get help in some hard times.
Expertise and resources – Globally transferring resources over seas platform leads to
the expenditure in importing and exporting with the considered trade norms. It takes time
in transportation and Marriott have to ensure for the expertises in different nations.
Locally there are no much tantrums of transportation after production as well as expertise
is in demand in the America so many outlets are covered geographically in America
(Zhang, Chen and Grunert, 2022).
Describe the way in which pricing, product, promotional and distributional approaches are
different
As now the market is shifting more towards the external markets so the local markets are
decreasing nowadays. The companies existing globally are now concentrating more in their
product strategies to meet the requirements of the people in diversity.
Product – The businesses focus on their targeted markets to sell them to meet the
demands. Internationally the companies are handling the factors like religions, consumer
habits, levels of personal disposable income and cultural background. The businesses
have number of outlets which are hopeful and likely to them.
Recognising target market – The opportunity for Marriott to market globally is to
understand their targeted customers, their choices, preferences, tastes, affordability and
demand. Marriott lays down their specific brand in the suitable market. They need to
know their cultural norms before selecting the area to trade in it (Nilsson and Zillinger,
2022).
Partnering – Businesses make partne5r globally for the help in hard times, seeking
experience and collaborating with them. Marriott has a number of partners globally like
Hertz, United Airlines, Emirate Airlines, Chase Bank and American Express. They
search for an advantage in Travel and Tourism companies to collaborate with the as they
are interested in diversifying in their needs.
Execute – They need to run some campaigns and offer discounts so as to create
customers and they need to recognise their choices as well. Marriott tackles the global
markets according to their culture. They are more likely to know the culture of their home
industries. They have to display advertisements and make some partners and references
so as to get help in some hard times.
Expertise and resources – Globally transferring resources over seas platform leads to
the expenditure in importing and exporting with the considered trade norms. It takes time
in transportation and Marriott have to ensure for the expertises in different nations.
Locally there are no much tantrums of transportation after production as well as expertise
is in demand in the America so many outlets are covered geographically in America
(Zhang, Chen and Grunert, 2022).
Describe the way in which pricing, product, promotional and distributional approaches are
different
As now the market is shifting more towards the external markets so the local markets are
decreasing nowadays. The companies existing globally are now concentrating more in their
product strategies to meet the requirements of the people in diversity.
Product – The businesses focus on their targeted markets to sell them to meet the
demands. Internationally the companies are handling the factors like religions, consumer
habits, levels of personal disposable income and cultural background. The businesses
have to deal accordingly with needs and wants of the consumers (Pascoal, Tallone and
Furtado, 2022). Marriott serves them in different brands in hotels such as The Ritz-
Carlton, St. Regis, JW Marriott, Bulgari, Le Meridien, Westin, Renaissance hotel,
Gaylord hotels, Courtyard hotels, Fourpoints, Spring hill suites and etc. Their all brands
vary as per the demands of the countries.
Promotion – All countries have different types of climate, language, politics, religions
and cultural attitude. The promotional strategy should be according to their suitable
environment. Nowadays Marriott is totally concentrating the digital promotion. They
showcase their every product, services and any other knowledge of their business on their
website. They provide schemes on their website and also promote by advertisements,
campaigns and videos on social media websites so as to get the attention of new market.
Place – When the trading is taking place overseas then there are a lot of mediators
involved in distribution and transportation of the products (Pfajfar and Małecka, 2022). In
the context of Marriott International, the company needs to investigate first for the
distribution chains and dealers across the seas or in the nation they will be functioning.
Their choice to set up will be city that has airport, highways connection and central
market as there they will be getting most of the customers to stay easily.
Pricing - The prices of the hotels vary with the brands, location amenities, quality
framework, demand, cost incurred in the setup, tariffs, import duties, exchange rate
fluctuations, personal disposal income, currency value plus exchange and maintenance of
the place. The situation of market and the consumer's behaviour reacting in certain
situations lead to change in price. Marriott serves globally so their prices among different
nations are also dependable on economy of country. The prices also differs in local and
global market as globally Marriott has to import and export their products and also they
spend money in research.
M3 Evaluating the circumstances in which organisation should adopt global or local
approach.
The Marriott will take the global approach in the circumstances when it wants to increase
its sales, wants to diversify the business risks, or wants to target large market. When the
company wants to partnering to seek experience and collaboration. The Marriott will take local
Furtado, 2022). Marriott serves them in different brands in hotels such as The Ritz-
Carlton, St. Regis, JW Marriott, Bulgari, Le Meridien, Westin, Renaissance hotel,
Gaylord hotels, Courtyard hotels, Fourpoints, Spring hill suites and etc. Their all brands
vary as per the demands of the countries.
Promotion – All countries have different types of climate, language, politics, religions
and cultural attitude. The promotional strategy should be according to their suitable
environment. Nowadays Marriott is totally concentrating the digital promotion. They
showcase their every product, services and any other knowledge of their business on their
website. They provide schemes on their website and also promote by advertisements,
campaigns and videos on social media websites so as to get the attention of new market.
Place – When the trading is taking place overseas then there are a lot of mediators
involved in distribution and transportation of the products (Pfajfar and Małecka, 2022). In
the context of Marriott International, the company needs to investigate first for the
distribution chains and dealers across the seas or in the nation they will be functioning.
Their choice to set up will be city that has airport, highways connection and central
market as there they will be getting most of the customers to stay easily.
Pricing - The prices of the hotels vary with the brands, location amenities, quality
framework, demand, cost incurred in the setup, tariffs, import duties, exchange rate
fluctuations, personal disposal income, currency value plus exchange and maintenance of
the place. The situation of market and the consumer's behaviour reacting in certain
situations lead to change in price. Marriott serves globally so their prices among different
nations are also dependable on economy of country. The prices also differs in local and
global market as globally Marriott has to import and export their products and also they
spend money in research.
M3 Evaluating the circumstances in which organisation should adopt global or local
approach.
The Marriott will take the global approach in the circumstances when it wants to increase
its sales, wants to diversify the business risks, or wants to target large market. When the
company wants to partnering to seek experience and collaboration. The Marriott will take local
approach when it wants to target new customer by modifying its products and increase of brand
image.
M4 Determining in detail how to adapt marketing mix of selected organisation in different
international context
The international marketing mix helps the company Marriott in promoting its product and
services by taking use of product, price, place and promotion which helps in targeting to large
customer base and increase of market share. In the product, Marriott has focus to meet the
demands and offer product according to their preferences and disposable income. In pricing, the
company will set according to the competitors to compete with them. The prices will differ in in
the international market as it will set according to location, quality, facilities. In promotion the
company will use several techniques such as social media for brand promotion. In place, it will
investigate in different distribution chains and dealers across the seas or in the nation.
D2 Producing critical evaluation of how marketing mix is applied in international context
The use of marketing mix in international market helps in achieving positive financial
results by taking use of different marketing instruments operating in international or global
markets. The use of marketing mix helps in determining competition in prevailing in market
between a particular company's products and similar products of other companies.
Different marketing approaches which an international company can acquire
Transaction cost approach – This approach is recognised by the entry of a firm into a
new market by choosing their mode. Marriott values the amount of revenue or profit it
has to apply in their transaction cost. They coordinate, act, revise strategies and execute
to get more profitability.
Standardization/ adaptation perspective – This is to analyse the advantages top
approach a potential market, they eliminate strategies used in local market and rather
standardize for globalization. Marriott gets benefits in products worldwide also enlarge in
production, marketing strategies and distribution.
Global configuration/ coordination perspective – The firm need to coordinate with
their fielding companies globally as they will be benefited in competency in the global
market. Marriott outsources its some alternative works so as to optimize cost efficiency,
image.
M4 Determining in detail how to adapt marketing mix of selected organisation in different
international context
The international marketing mix helps the company Marriott in promoting its product and
services by taking use of product, price, place and promotion which helps in targeting to large
customer base and increase of market share. In the product, Marriott has focus to meet the
demands and offer product according to their preferences and disposable income. In pricing, the
company will set according to the competitors to compete with them. The prices will differ in in
the international market as it will set according to location, quality, facilities. In promotion the
company will use several techniques such as social media for brand promotion. In place, it will
investigate in different distribution chains and dealers across the seas or in the nation.
D2 Producing critical evaluation of how marketing mix is applied in international context
The use of marketing mix in international market helps in achieving positive financial
results by taking use of different marketing instruments operating in international or global
markets. The use of marketing mix helps in determining competition in prevailing in market
between a particular company's products and similar products of other companies.
Different marketing approaches which an international company can acquire
Transaction cost approach – This approach is recognised by the entry of a firm into a
new market by choosing their mode. Marriott values the amount of revenue or profit it
has to apply in their transaction cost. They coordinate, act, revise strategies and execute
to get more profitability.
Standardization/ adaptation perspective – This is to analyse the advantages top
approach a potential market, they eliminate strategies used in local market and rather
standardize for globalization. Marriott gets benefits in products worldwide also enlarge in
production, marketing strategies and distribution.
Global configuration/ coordination perspective – The firm need to coordinate with
their fielding companies globally as they will be benefited in competency in the global
market. Marriott outsources its some alternative works so as to optimize cost efficiency,
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
meet demands and increase the working capacity over the time period (Runfola, Milanesi
and Guercini, 2022).
Global integration perspective – The firm dealing in a far away place of their
headquarters need to export and import their products overseas to trade globally. Marriott
seeks to provide expertise, products manufactured from a different source and they
finally integrate their strategies in whole for their all outlets to execute in different parts.
Evolutionary perspective – There are stages when company need to innovate and
expand their places after they have gained experience globally. Marriott firstly sets up in
a small scale in a new market then gets to an expected growth. This leads to their
evolution into many potential places in the nation.
Different ways to approach in local and global and the way competitors implicate
Competitors – The competitors in local market are predictable but not in global market.
Marriott needs to approach the partners and relative field company to get the experience
and knowledge from them about competitors in the new market.
Culture – The culture of local industry is recognised and adopted initially by the firm
without efforts. Marriott introduces into new market according to their culture and hire
their expertises.
Research – The companies do so less research work and its expenditure is done as they
are living in the market and hence are aware for it. Global market needs to be researched
widely before executing any task this takes time and money (Webster and Ivanov, 2022).
Promoting – The promotional techniques locally are more easier than the global
promotions. Marriott organises social campaigns and advertises on social websites.
Placement – Local transportation is more cost reliable rather than paying for export
duties, excise duties, taxes to the government globally which exercises in much time and
money.
M5 Evaluating several marketing approaches and competitor analysis and recommending
how they should operate in international market.
The company in context to Marriott hotel take use of several marketing approaches such
as transaction cost approach, standardization perspective, global configuration, global integration
perspective etc. The competitor analysis in marketing helps in assessing strength and weakness
of the competitors. It helps in providing the main insight into product, sales and marketing. The
and Guercini, 2022).
Global integration perspective – The firm dealing in a far away place of their
headquarters need to export and import their products overseas to trade globally. Marriott
seeks to provide expertise, products manufactured from a different source and they
finally integrate their strategies in whole for their all outlets to execute in different parts.
Evolutionary perspective – There are stages when company need to innovate and
expand their places after they have gained experience globally. Marriott firstly sets up in
a small scale in a new market then gets to an expected growth. This leads to their
evolution into many potential places in the nation.
Different ways to approach in local and global and the way competitors implicate
Competitors – The competitors in local market are predictable but not in global market.
Marriott needs to approach the partners and relative field company to get the experience
and knowledge from them about competitors in the new market.
Culture – The culture of local industry is recognised and adopted initially by the firm
without efforts. Marriott introduces into new market according to their culture and hire
their expertises.
Research – The companies do so less research work and its expenditure is done as they
are living in the market and hence are aware for it. Global market needs to be researched
widely before executing any task this takes time and money (Webster and Ivanov, 2022).
Promoting – The promotional techniques locally are more easier than the global
promotions. Marriott organises social campaigns and advertises on social websites.
Placement – Local transportation is more cost reliable rather than paying for export
duties, excise duties, taxes to the government globally which exercises in much time and
money.
M5 Evaluating several marketing approaches and competitor analysis and recommending
how they should operate in international market.
The company in context to Marriott hotel take use of several marketing approaches such
as transaction cost approach, standardization perspective, global configuration, global integration
perspective etc. The competitor analysis in marketing helps in assessing strength and weakness
of the competitors. It helps in providing the main insight into product, sales and marketing. The
companies go international because they want to grow or expand operations. The benefits of
entering international markets include generating more revenue, competing for new sales,
investment opportunities, diversifying, reducing costs and recruiting new talent.
D3 Recommending on how organisation should be structure to maximize opportunity.
The planning helps in creating organisation structure which helps business in growth. To
gain the profitability the organization can be structure into functional, divisional or mix of two
known as matrix structure.
CONCLUSION
This report on International Marketing with emphasising Marriott International explains
about its scope, key concepts, reasons for dealing globally by the company, routes to enter a
market, key criteria and selection method for choosing and entering new market, market entry
strategies with pros and cons, global vs local market, the 4Ps variety in approach, marketing
approaches the company can acquire and at last concludes with different strategies to approach in
local and global which the competitors also adopt.
entering international markets include generating more revenue, competing for new sales,
investment opportunities, diversifying, reducing costs and recruiting new talent.
D3 Recommending on how organisation should be structure to maximize opportunity.
The planning helps in creating organisation structure which helps business in growth. To
gain the profitability the organization can be structure into functional, divisional or mix of two
known as matrix structure.
CONCLUSION
This report on International Marketing with emphasising Marriott International explains
about its scope, key concepts, reasons for dealing globally by the company, routes to enter a
market, key criteria and selection method for choosing and entering new market, market entry
strategies with pros and cons, global vs local market, the 4Ps variety in approach, marketing
approaches the company can acquire and at last concludes with different strategies to approach in
local and global which the competitors also adopt.
REFERENCES
Books and Journals
Bilro, R.G. and Dias, F., 2022. Now I can see: how brand interactions influence channel loyalty
and purchase intention in optical physical stores. Management Research: Journal of the
Iberoamerican Academy of Management.
Dutt, C.S., 2022. Cultural Distance. In Encyclopedia of Tourism Management and Marketing.
Edward Elgar Publishing.
Goutam, D., Ganguli, S. and Gopalakrishna, B.V., 2022. Technology readiness and e-service
quality–impact on purchase intention and loyalty. Marketing Intelligence & Planning.
Lee, L.W., Sharma, P. and Barnes, B.R., 2022. Adopting big data to create an “outside-in” global
perspective of guanxi. Journal of Business Research. 139. pp.614-628.
Mostafiz, M.I., Sambasivan, M. and Goh, S.K., 2022. Foreign market knowledge, international
opportunity recognition, and the performance of export‐manufacturing firms. Strategic
Change. 31(1). pp.179-191.
Nguyen, A.H.M. and Alcantara, L.L., 2022. The interplay between country-of-origin image and
perceived brand localness: An examination of local consumers’ response to brand
acquisitions by emerging market firms. Journal of Marketing Communications. 28(1).
pp.95-114.
Nilsson, J.H. and Zillinger, M., 2022. Free Guided Tours. In Encyclopedia of Tourism
Management and Marketing. Edward Elgar Publishing.
Pascoal, S.C., Tallone, L. and Furtado, M., 2022. ICT and PB Learning Combined for the
Advancement of Intercultural Education: The Case of the MIEC Virtual Exhibition.
In ICT as Innovator Between Tourism and Culture (pp. 81-102). IGI Global.
Pfajfar, G. and Małecka, A., 2022. Evaluating the role of Confucian virtues in Chinese
negotiation strategies using a Yin Yang cultural perspective. European Journal of
International Management. 17(2-3). pp.290-323.
Runfola, A., Milanesi, M. and Guercini, S., 2022. The Internationalization of Luxury Fashion.
In Internationalization of Luxury Fashion Firms (pp. 39-70). Palgrave Macmillan,
Cham.
Webster, C. and Ivanov, S.H., 2022. Communist Heritage Management. In Encyclopedia of
Tourism Management and Marketing. Edward Elgar Publishing.
Zhang, T., Chen, J. and Grunert, K.G., 2022. Impact of consumer global–local identity on
attitude towards and intention to buy local foods. Food Quality and Preference. 96.
p.104428.
Books and Journals
Bilro, R.G. and Dias, F., 2022. Now I can see: how brand interactions influence channel loyalty
and purchase intention in optical physical stores. Management Research: Journal of the
Iberoamerican Academy of Management.
Dutt, C.S., 2022. Cultural Distance. In Encyclopedia of Tourism Management and Marketing.
Edward Elgar Publishing.
Goutam, D., Ganguli, S. and Gopalakrishna, B.V., 2022. Technology readiness and e-service
quality–impact on purchase intention and loyalty. Marketing Intelligence & Planning.
Lee, L.W., Sharma, P. and Barnes, B.R., 2022. Adopting big data to create an “outside-in” global
perspective of guanxi. Journal of Business Research. 139. pp.614-628.
Mostafiz, M.I., Sambasivan, M. and Goh, S.K., 2022. Foreign market knowledge, international
opportunity recognition, and the performance of export‐manufacturing firms. Strategic
Change. 31(1). pp.179-191.
Nguyen, A.H.M. and Alcantara, L.L., 2022. The interplay between country-of-origin image and
perceived brand localness: An examination of local consumers’ response to brand
acquisitions by emerging market firms. Journal of Marketing Communications. 28(1).
pp.95-114.
Nilsson, J.H. and Zillinger, M., 2022. Free Guided Tours. In Encyclopedia of Tourism
Management and Marketing. Edward Elgar Publishing.
Pascoal, S.C., Tallone, L. and Furtado, M., 2022. ICT and PB Learning Combined for the
Advancement of Intercultural Education: The Case of the MIEC Virtual Exhibition.
In ICT as Innovator Between Tourism and Culture (pp. 81-102). IGI Global.
Pfajfar, G. and Małecka, A., 2022. Evaluating the role of Confucian virtues in Chinese
negotiation strategies using a Yin Yang cultural perspective. European Journal of
International Management. 17(2-3). pp.290-323.
Runfola, A., Milanesi, M. and Guercini, S., 2022. The Internationalization of Luxury Fashion.
In Internationalization of Luxury Fashion Firms (pp. 39-70). Palgrave Macmillan,
Cham.
Webster, C. and Ivanov, S.H., 2022. Communist Heritage Management. In Encyclopedia of
Tourism Management and Marketing. Edward Elgar Publishing.
Zhang, T., Chen, J. and Grunert, K.G., 2022. Impact of consumer global–local identity on
attitude towards and intention to buy local foods. Food Quality and Preference. 96.
p.104428.
1 out of 13
Related Documents
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.