International Marketing Strategies for Star of India

International Marketing
Star of India
Table of Contents

Introduction...................................................................................................................................3
LO1.................................................................................................................................................4
P1 - Analyzing the scope and key concepts of international marketing.....................................4
P2 - Rationalizing for Star of India for marketing its products internationally and also
describing the various routes to market that can be adopted by it...........................................6
M1 Evaluating the opportunities and challenges for Star of India while marketing its products
internationally........................................................................................................................... 8
LO2.................................................................................................................................................9
P3 Evaluating the key criteria and the selection process which Star of India should consider to
enter into the international market...........................................................................................9
P4 Explaining different market entries and strategies along with their advantages and
disadvantages.......................................................................................................................... 12
M2 Application of market evaluation strategies and entry criteria for Star of India...............15
LO3............................................................................................................................................... 16
P5 Presenting an overview of the key arguments in the global versus local debate...............16
P6 Analyzing the marketing mix approach in an international context for Star of India..........18
M3 Evaluating the circumstances where Star of India must adopt a global or local approach
and also highlight the implications..........................................................................................20
M4 Articulating the way to adopt marketing mix for Star of India in various international
context..................................................................................................................................... 21
LO4............................................................................................................................................... 22
P7 Explaining and analyzing different approaches for international marketing which Star of
India can approve of................................................................................................................ 22
P8 Comparing home and international orientation and methods to assess competitors
demonstrating the implications of each of the approach........................................................23
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M5 Evaluating different approaches of marketing and analyzing competitor in relation to the
firm and suggesting recommendations on how to conduct their operations in international
market..................................................................................................................................... 25
Conclusion................................................................................................................................... 26
References................................................................................................................................... 27
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Introduction
The concept of international marketing is all about expanding the applications of marketing
principles over more than one geographical location. This is done for various purposes by the
local businesses but the main concern is to reach the global customers. The concept of
international marketing is explained by many of the authors and some of the common
definitions of international and global marketing are as follows (MarketingTeacher.com, 2018):
According to Johansson (2000), the definition of international marketing is given as “the
marketing activities that are coordinated and integrated across multiple country markets by the
businesses”. He added more to this that the global marketing is nothing but the big brother of
international marketing. Muhlbacher, Helmuth, and Dahringer in the year 2006 explained that
the international marketing is putting more focus on the international market rather than
focusing on the country’s market for more profit and increasing the customer base of the
company. Apart from this the local marketing is concerned with the growth of business
products in the local market only.
Based on the concept of international marketing, this assignment is dealing with every concept
that is related to the same. One of the London’s local businesses i.e. “Star of India” is taken into
consideration. Currently, the business is providing catering services and facilities for private
functions and wants to grow in the international market (Star of India, 2018).
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LO1
P1 - Analyzing the scope and key concepts of international marketing
Keegan (2002) explained that the Global marketing focuses upon leveraging the belongings,
knowledge and products of the company globally. In addition to this, the author also added that
in global marketing the businesses are focusing to provide unique and different products to the
customers as per their demand in the specific geographical areas. International planning is a
multinational process in which planning of products, pricing, distribution system, promotion
and advertising is one on a large scale i.e. globally (Terpstra, et al. 2012).
Figure 1: CONCEPT OF INTERNATIONAL MARKETING
[Source: Madrigal, 2013]
SCOPE OF INTERNATIONAL MARKETING
Import and export
In import, the businesses are importing products from the other countries and then selling
them in their local market as a part of their business products. Star of India can easily import
the grocery and ingredients from the Indian market at low costs and then use them in their
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business which can earn a large number of profits to them (Czinkota and Ronkainen, 2013). This
is because, in the UK, there is a shortage of Indian ingredients especially as Asafoetida which is
the main ingredient in almost all of the Indian recipes.
Apart from this, Star of India can also sell their Indian products in the other UK’s market
through which they can earn more profit in their business. This process is termed as exporting.
Contractual Agreements
In this agreement, two businesses are sharing the responsibilities in the business market and
many of the companies in the UK are working on the contract agreements for expanding
exponentially (Schmitt, 2011).
Joint Venturing
In this, the foreign investors are taking interest in the local business and then taking the
business into their country as well. Here the Star of India can also start a new business venture
at a new place by adding up with any other food industry business which is having a benchmark
in London (Czinkota and Ronkainen, 2013).
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P2 - Rationalizing for Star of India for marketing its products internationally
and also describing the various routes to market that can be adopted by it
Star of India has to face many issues and challenges in the way of international marketing and
expanding their products and services overseas. Following are some of the major issues that
can be considered by the Star of India while expanding its business into an international level:
 For creating an international image and brand value in the global market, it is a primary
goal for the Star of India to expand their business over international boundaries.
 The concept of international marketing will give access to the new talents and
innovation to the Star of India. The new workforce of the business will provide new
directions to the company in bringing innovation to their existing products and services.
 The production and operations of Star of India can also improve the expansion process
with the help of new technologies.
 Also, Star of India can also gain a competitive edge over its competitors by increasing
their services to the global market and increasing its customer base.
Following are some of the major routes that need to be considered by the Star of India while
expanding its business over international boundaries:
Direct Exporting
In this route, the Star of India can easily sell its products and services to their customers directly
in any of the selected geographical locations without taking help of other businesses. Indirect
exporting the Star of Business can place their services in suitable stores from which the people
can easily have access to them (Papadopoulos and Martín Martín, 2011).
Franchising
Here the franchisors are giving the license of their business activities and access to their
products and services to their franchises. Here Star of India can also form its franchises like the
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advertising and marketing franchising that will support it in its business functions like marketing
its products.
Partnership
In this business route, the host company can have a formal agreement with many companies
for operating and managing its business. For example, here Star of India can make partners like
add IT companies that can help it in managing its database and maintain proper information of
the business’s activities and processes (Lee and Lieberman, 2010). It can also add on to the
accounting companies which can help them in making proper details of income.
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