International Marketing: Strategies and Approaches for Expanding Business in Global Markets

This presentation provides an overview of Marshfield Bakery and explores the strategies and approaches for expanding business in global markets. It covers topics such as the difference between global and local marketing, standardization vs adaptation, investigating and evaluating the marketing mix in international context, and more. The presentation also includes recommendations and competitor analysis.

International Marketing

Table of Contents
• INTRODUCTION
• MAIN BODY
• An overview of Marshfield in context of its current market and performance.
• Explaining the difference between global and local marketing using examples and key arguments in the global vs local debate.
• Standardization vs Adaptation
• Investigating, applying and critically evaluating the marketing mix in the range of international context.
• Different circumstances when the organization needs to continue with a local approach
• International marketing approaches which can be adopted by the organization
• Home and International orientation with different ways to assess competitors
• Recommendations
• Competitor analysis
• CONCLUSION
• REFERENCES

INTRODUCTION
• International marketing refers to the exchanging the
goods and services at international level or expanding
the business and services in new markets outside the
national borders.
• The current presentation provides an overview of
Marshfield Bakery, a medium- sized enterprise based in
the United Kingdom.

An overview of Marshfield in context of its
current market and performance.
• Marshfield Bakery Limited comes under the category of small and medium- sized
enterprises, currently operating only in United Kingdom.
• At present it employees around 100 people in all its outlets.
• www.marshfieldbakery.co.uk

Explaining the difference between global and
local marketing using examples and key
arguments in the global vs local debate.
• Marketing is one of the most crucial function of a
company and it becomes even more crucial when a
brand decides to expand internationally.
• International marketing is very different from the local
marketing on a variety of factors.

Standardization vs Adaptation
Standardization
• It is based on standardizing the international business environment as a global
village where a standard strategy is used by the business in order to gain better
advantage.
• This is helpful for the business to stay effective and reduce their extra costs of
modifications and advantages in the strategies.

Investigating, applying and critically evaluating
the marketing mix in the range of international
context.
• Marketing mix in context of international market refers to
the analysation of product, pricing, promotion and
distribution approach while using a variety of international
markets.
• It also investigates the differences in these approaches for
different international market.

Different circumstances when the organization
needs to continue with a local approach
• Local Approach
• The local approach explains the business activities which are conducted by the
organization to engage the customers in a single country or region towards the
products and services that are offered by the business.
• This approach may be useful for the company when there is less capital available
with the business to operate in the business environment.
• The organization may monitor the political and economic environment of the
country they are planning to expand if they are not suitable to the business they
may carry on with the local approach.

International marketing approaches which can
be adopted by the organization
• International Approach
• The products under this approach are sold in the international markets
with a similar approach towards the business.
• Less changes are made in the marketing strategies of the business
without lowering the prices or offering special discounts.
• The identity of the business under this strategy is strong which is
helpful in reducing the external costs of the business.
• This approach is effective for the companies that have a good image
in the market, and they are highly popular among different countries.
• For eg. Hershey's, Harley Davidson, Starbucks etc.

Continued…
• Advantages
• When the organization is able to connect more
audience, it may be able to increase the demand
and supply practice anywhere in the world.
• It will increase the brand popularity and status of
the company and increase the profitability.

Continued…
• Disadvantages
• It is not very easy to determine the
market condition and sometimes may
be very risky to jump in.
• The organization may have to deal with
a lot of laws and regulations that may
be very complex and unfavourable.

Home and International orientation with
different ways to assess competitors
• Ethnocentric
• The ethnocentric market orientation explains that the marketing strategies,
products and techniques of businesses are similar in different markets.
• It aims at applying the similar methods in different situations which has a
similar impact on the overall success of the business.
• All the foreign marketing operations are conducted with little difference in
order to standardize the working of brand in different markets and achieve
better outcome.
• This is helpful in competing with the key players of the markets as the
organization is able to gain the trust of the customers and gain better advantage,
• For eg. Walmart offers similar products in different places.

Recommendations
• The organization can recruit highly specialized talent in order to improve their effectiveness in achieving better
results and increasing the efficiency of the organization to produce better results.
• These employees will provide better assistance to Marshfield Bakery in order to enhance their services and gain
better competitive advantage in the international markets.
• Marshfield Bakery can expand its business into different lucrative markets that are helpful in gaining benefit and
engaging the customers towards the business practices.
• The organization can explore the internal markets appropriately and find out the different unique factors that can
be different from the local environment of the country in which it operates.

Competitor analysis
• Competitive rivalry- This force
examines the level and intensity of
competition in the market.
• It considers the existing competitors
and their features in the market
place.
• The bargaining power of the
suppliers- It demonstrates the
amount of power that the supplier
has and its ability to manipulate the
prices and quantity.

CONCLUSION
• According to the above presentation, it has been concluded that the business is able to
increase their market share in the new markets with the help of appropriate strategies
and approaches to enter the markets.
• The marketing strategy which is adopted by the business has been suitable in order to
enhance the outcome of the activities that are performed by the business in the global
scenario.
• It has been crucial to understand the different circumstances in order to relevant steps
towards the development of business in the industry.

REFERENCES
• Books and journals
• Baumgartner, H. and Weijters, B., 2021. Dealing with common method variance in international marketing
research. Journal of International Marketing, 29(3). pp.7-22.
• Ciaicovscaia, M. and Chushankova, V., 2019. Characteristics, main opportunities and threats of global
marketing. In Ştiinţă, educaţie, cultură (Vol. 1. pp. 11-14).