International Marketing: Key Concepts, Scope, and Market Entry Strategies

International Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
P1 Key concepts and scope of international market....................................................................3
P2 Discuss the rationale of company to make market internationally and determine the
different routes which they can follow in the organisation..........................................................4
TASK 2............................................................................................................................................6
P3 Determine the selection process and criteria to consider which international market to
enter..............................................................................................................................................6
P4 Various market entry strategies along with advantages and disadvantages...........................8
TASK 3............................................................................................................................................8
Covered in PPT............................................................................................................................8
TASK 4............................................................................................................................................8
Covered in PPT............................................................................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
International marketing refers to those marketing which identify the business activities to
plan the strategy, price and process of products and services to audience to generate profit (Belk,
2019). This method fulfil the needs and wants of people across the international borders. IKEA is
a Swedish multinational company which sell their products such as homeware, food products and
furniture. This organisation is founded by Ingvar Kamprad in year 1943. They start their
business in Norway and further expanded their stores in Europe to increase the business
operations. This report covers concepts, scope, importance of company to make market
internationally, selection process to enter into international market and various market entry
strategies along with advantages and disadvantages.
TASK 1
P1 Key concepts and scope of international market.
International marketing refers to the business activities and operations of marketing
which is performed by company for implementing, planning and promoting as well as directing
the goods and services to final users to increase sales and revenue of the entity. This marketing
helps management of IKEA to build brand reputation and increasing the business line in the
market to interact with the audiences. There are some features of internation market which is
mentioned below:
 It has large scale operations in the international marketing which involves storehouse and
transportation.
 They manage and control the marketing activities in the international borders.
 In this market there is different trade restrictions to safeguard the rules and regulations
adapted by different countries.
 International market implement their policies due to changes in demands of foreign
customers.
 Management requires proper skills to conduct market research in an appropriate manner.
Scope of International market:
Establishing a brand: It refers to the brand such as packaging, procedure and assembling
the products based on tastes and preferences of the market. In context to IKEA, promote their
products such as ready to assemble furniture, home and food products.

Licensing arrangement: It is the type of agreement which take the right to offer and sell
their products using the brand name and the patent as per the conditions. IKEA has taken the
license to operates renewable energy to set the standard.
Franchising: It refers to the arrangement which people who opt the business permits
other person. IKEA systems B.V. is the franchisor of IKEA which run the retail business. This
franchised stores is located in Netherlands.
Consulting services: It signifies the services which is provide by the firms in market.
This is done by professional and experts to give advice on specific topic. Business consultant of
IKEA gives personal as well as professional advice which help them to plan better.
Key concepts of international marketing:
Increase revenue: Company maximize its growth and sales by satisfy the needs and
desire of the end users which lead to increase in revenue of the business. IKEA develops the
growth by expanding the business through franchise as it turn to higher revenue in the market.
Maximize profit: IKEA boost their sales by developing customer satisfaction and
launching new products and services in market which result in growth in profit.
Innovation: Administration of IKEA innovate new app which provide customers to look
design of furniture visually in their office and homes to develop the experience of users.
Stability: There is proper stability in the business of IKEA which develops the
productivity and operations of the business.
Cost saving: To reduce the cost manager of IKEA use appropriate method to utilize their
resources which helps them to minimize waste. Enterprise use marketing strategy for pricing
along with the cost saving (Johnston and et.al., 2018).
P2 Discuss the rationale of company to make market internationally and determine the different
routes which they can follow in the organisation.
Internationalization is defined as process to design and plan company goods and services
which is available in different countries based on different taste and preferences of the audience.
It is the criteria to develop their business in international marker than the domestic market as it
increase the business operations and productivity.
Internationalization process