Concepts of International Marketing in Marks & Spencer : Assignment
15 Pages4757 Words64 Views
Added on 2020-09-03
Concepts of International Marketing in Marks & Spencer : Assignment
Added on 2020-09-03
ShareRelated Documents
INTERNATIONALMARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Scope and key concepts of international marketing..........................................................1P2 Rationale for Marks & Spencer to wants market internationally......................................2TASK 2............................................................................................................................................3P3 Key criteria and selection process.....................................................................................3P4 Different market entry strategies and its advantages and disadvantages..........................5TASK 3............................................................................................................................................6P5 Overview of the key arguments in the global vs local debates.........................................6P6 Approach of Marks and Spencer differs in a variety of international contexts.................7TASK 4............................................................................................................................................9P7 Different approaches of international marketing..............................................................9P8 Compare between international and home orientations to assess competitors...............10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONInternational marketing can be described as those promotional activities including severalprinciples to satisfy varied requirements and wants of different customers residing acrossnational borders. It is also known as global marketing which involves designing of promotionalmix worldwide and customizing it according to preferences of various kinds of citizens living allover the world (Akaka, Vargo and Lusch, 2013). This report is based on Marks and Spencerwhich is a genial retailer that sells clothes, gifts, home furnishings and foods under St. Michaeltrademarks in UK, Europe, the Americans and Far east. It is headquartered in London in UnitedKingdom having number of employees around 84,939 and it's revenue is approximately£10,622.0 million. This assignment will discuss about scope or key concepts of global marketingalong with criteria and selection process through different strategies of market entry. Differenttypes of approaches and comparison between international and home orientations are describedbelow.TASK 1P1 Scope and key concepts of international marketingThere are various kinds of key concepts and scope on which international marketing isbased in order to Marks and Spencer. It includes several techniques and methods that impactsmore effectively as well as efficiently at global market. These concepts are helpful to enter indifferent market to expand business at international level which facilitates to improveproductivity and profitability of Marks and Spencer. Several scope and key concepts ofinternational marketing that can be adopt by Marks and Spencer are given below.Scope of International MarketingImports :- This term can be described as to import products and services for a specificbrand that works in same manner like it does for whole country (Bertoli, 2013). Marks &Spencer can adopt this technique to expand their business and gain better profits alongwith grabbing more market area.Exports :- It is described as to manufacture a particular product as per order of customerof another country and deliver it to client. There is no need to establish any store orshowroom in other nation but just to make product and deliver to foreign customer.1
Marks and Spencer can adopt this technique as it does not require huge amount of capitaland risk factor is also less. Contractual agreements :- This can be defined as that criteria when a business moves outto international level then its scope of international marketing expose it to greater chancesof doing a lot more business. Such agreements may be like licensing or co-production oreven technical assistance (Chung, Lu Wang and Huang, 2012). Key concepts of International marketingGlobalisation :- It refers to expand brand at global level through several modes to enterwide market internationally. Thus, it is helpful for organisation to expand their businessworldwide to gain more number of customers from different countries. Moreover, it willprovide support to increase profits share of business successfully. Export Marketing :- It is described as conduct production of product and services andexport it to other country in different trade. Thus, it will provide opportunity to grabclients outside the particular nation without establishing venture in foreign countries.Marks and Spencer can increase their customer count as well as boost up brand image inproper manner. International Trade :- This is described as exchange of capital, goods and services acrossinternational borders or territories. In case of Marks & Spencer, they can adopt thisconcept and through this, they are required to export or import trade goods to variouscustomers and divisions. Thus, it will render help to increase regular productivity as wellas profitability of business. P2 Rationale for Marks & Spencer to wants market internationallyVarious types of methods and techniques which are helpful to expand business of Marksand Spencer at global level to grab more market share. It will facilitate to attract new customersalong with retaining current ones that results in to improving productivity as well as profitabilityof an organisation. Some of them which are acquired or may adopt in future are given below: Joint Ventures :- This term refers to a collaborative association of any two brands forreasonable period of time. Through this, both companies generate a new firm which works itsown protect separately and follow goals or objectives of it. For example, A joint venture ofMarks and Spencer was initially used in Spain because it as felt that market knowledge andpower of an existing retailer will help mitigate cultural distance and sometimes, adverse political2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
International Marketing of M&Slg...
|13
|3154
|146
Scope and Key Concepts of International Marketing M&Slg...
|16
|5353
|115
International Marketing at MARKS And SPENCER INTRODUCTION 1 TASK 11 P.1lg...
|14
|4462
|45
Report on International Marketing of Marks and Spencerlg...
|16
|5344
|42
International Marketing of Mark and Spencer : Reportlg...
|18
|4203
|37
International Marketing: Scope, Concepts, and Strategieslg...
|15
|4304
|342