International Marketing: Strategies and Approaches

This project delves into the multifaceted world of international marketing, exploring key concepts, strategies, and approaches used by businesses to expand their operations globally. It examines the rationale behind internationalization, analyzes various market entry strategies, and dissects the elements of a successful international marketing plan. The project also investigates the impact of standardization and adaptation on international marketing efforts, providing insights into the challenges and opportunities of navigating diverse global markets.

International Market

Table of Contents
Slide 3: Introduction
Slide 4: Concepts of International marketing
Slide 5:Rationale for an Organization
Slide 6: Selection Process in International
Market
Slide 7: Market entry strategies
Slide 8:Elements of marketing plan
Slide 9:Approaches in international context
Slide 10: Conclusion
Slide 11: Reference List

Introduction
This project introduces learners with a variety of methods used
by business organizations in order to coordinate international
marketing.
The learner needs to analyze the key concepts and scope of
international marketing.
The rationale for a business organization will be mentioned in
this project.
Various market entry strategies along with the advantages and
disadvantages will also be discussed in this research report.

Concepts of International marketing
International and global markets reduce risks
and open various opportunities.
All business activities within a business
organization such as production, marketing
and development involve people from all
regions worldwide to work together.
 Business organizations should involve people
from all over the country to work together for
their organization

Rationale for an Organization
The researcher is required to provide a proper
rationale which will help the business organization
‘LOOKK’ to market internationally.
 Various routes are described such that LOOKK can
adopt those processes and enter global market.
There are several reasons behind internationalizing
a company and LOOKK should also internationalize
in order to expand their market worldwide.
 International market place offers a wide range of
opportunities for business companies to sell their
products on worldwide basis

Selection Process in International Market
The business organization need to carry out situational
analysis, which will include the PESTLE, SWOT and demand
analysis of the country and Porter’s Five Forces analysis should
also be done in order to identify the external environment of
China, where the business organization is going to establish
their market.
SWOT will help the organization to test both the internal and
external factors. Demand analysis has to be done in order to
understand the consumer demand in the market
Competitor analysis should also have to be done by LOOKK.
 Competition is one of the main factors in business nowadays
and thus the business organization has to understand the
competition in the market, where they are going to expand
their business.

Market entry strategies
Licensing: This is referred to one of the most
sophisticated arrangement by which the business
organization will be able to transfer rights of using
products and services. License can be of any type such
as marketing license or production license.
Franchising: Franchising is one of the most effective
ways which will help the business organization to
expand their market to a great extent. This works well
for those companies who have repeatable business
models worldwide. The brand image and brand
recognition of the business organization have to be
very strong, so that it can be used internationally.

Elements of marketing plan
 Standardization means using the same range of products and services
throughout the world. The price and promotional strategies should have to
be same irrespective of the location.
 Standardization helps business organizations to focus on the core
competitive advantages and helps the brand to become strong and
consistent throughout.

Approaches in international context
A detailed investigation of the product, price,
promotion and distribution has been done in
this research report with respect to
international context.
When a business organization is going to launch
products, services and the entire organization in
a foreign market, the organization need to
implement a standard marketing strategy within
the business organization in order to cope up
with the country, where they are going to carry
out their business activities.

Conclusion
In recent days, marketing efforts within business organizations
have started to transcend international borders.
This research project has been preceded by using a descriptive
holistic case study.
A detailed and critical analysis of the key concepts and scopes
regarding international marketing has been discussed in this
project report.
The procedure of selection is also discussed which will help
business organizations to enter international market.
Analysis of various international marketing approaches which
can be implemented by business organizations are also
discussed in this report.
 A detailed comparison between the international and home
orientation is also discussed in this project report.

Reference List
Ang, S.H., Benischke, M.H. and Doh, J.P., 2015. The interactions of institutions on foreign
market entry mode. Strategic Management Journal, 36(10), pp.1536-1553.
Ashraf, A. and Herzer, D., 2014. The effects of greenfield investment and M&As on
domestic investment in developing countries. Applied Economics Letters, 21(14), pp.997-
1000.
Cesinger, B., Hughes, M., Mensching, H., Bouncken, R., Fredrich, V. and Kraus, S., 2016. A
socioemotional wealth perspective on how collaboration intensity, trust, and international
market knowledge affect family firms’ multinationality. Journal of World Business, 51(4),
pp.586-599.
Heussler, T., Backhaus, C., Dinh, H.V.D., Blut, M. and Ahlert, D., 2015. The Impact of
Standardization and Adaptation on Performance in Retailing: Empirical Evidence from
Franchising. In Proceedings of the 2008 Academy of Marketing Science (AMS) Annual
Conference (pp. 327-327). Springer, Cham.
Hodge, G., 2018. Privatization: An international review of performance. Routledge.
Lundahl, A. and Persson, S., 2017. Customer based pricing: The implementation of
standardization and adaptation in the international pricing strategy.