International Marketing - Primark

International marketing

Table of Contents
INTRODUCTION ..............................................................................................................1
L01.....................................................................................................................................1
P.1 Analysing the scope and key concepts of international marketing.....................1
P.2 Rationale to enter into international market and Modes of entry........................2
L02.....................................................................................................................................3
P. 3 Key criteria and selection process to use when considering ............................3
P.4 Different market entry strategies, including the advantages and disadvantages of
each...........................................................................................................................4
L03.....................................................................................................................................5
P.5 An overview of the key arguments in the global versus local debate..............5
P.6 How product, pricing and promotional distribution approach differs in a variety of
international context..................................................................................................6
LO4....................................................................................................................................7
P.7 Analysing various international marketing approaches for Primark...................7
p.8 .Compare home and international orientation and ways to assess competitors,
outlying the implications of each approach...............................................................8
Conclusion.........................................................................................................................9

INTRODUCTION
Marketing is a very important method or tool that is essential for each and every
organization for promoting their goods and services in the market and attract more and
more customers. In order to expand or enter into a new market, it is important for a
business to analyse each and every factor that influence a company while choosing
most appropriate foreign market. The present report is in context to Primark, a leading
fashion retailer in UK. The study will identify various market entry modes and steps
involved in selecting a market for expansion. The report will also include arguments on
local and global market debates along with international marketing approaches. In
addition to this the study will also include how price, product, promotion and place can
affect the market entry process as well as activities of an organization while entering
into a new market. Furthermore, Rationale to enter into international market and Modes
of entry will be discussed in detail.
L01
P.1 Analysing the scope and key concepts of international marketing.
International marketing is all about flowing goods and services in other countries.
In this company's sale their products globally in order to increase sales and growth of
the venture. It is different from local marketing as in local marketing, market is limited
within the geographical boundaries of the nation whereas, in international marketing
market of different nations are targeted.
Primark has started its business from Ireland and its currently operating in United
Kingdom. it has around 350 stores. It has also opened its stores in Netherlands,
Germany and Belgium.
Scope:
Imports: Primark import different clothing material from UK Thus, international
marketing plays an important role in making import from different countries. Primark
import for its own use (Gomes, Sousa and Vendrell-Herrero,2017). So that it can make
available all products under one roof. Primark buy product so that it can sale it to
consumers. But often this company take assistance from imports for their own usage,
creation and improvement. It will help to the production unit of the organisation.
Exports : Same as the import Primark export different products to all its stores in
different countries. This will help in increasing in its profitability and have a global
exposure. It is a way to create brand name along with increasing growth and profits in
international market.
Contractual agreement
Primark has also made various contractual agreement with different countries in
form of production technical assistant patents trademarks etc. It will allow the company
in earning profits and growth. Thus, brand image of the organisation will be enhanced.
Key concepts of international marketing.
International marketing is a way to take the business to another level where
organisation can take the business from domestic to international level. All the detail
concept are described below.
Domestic marketing: Organisation which operates within the nation. In order to
grown these type of ventures enter in to new products or new market but limits in the
country only. It involves less risk and is not a complex process as in comparison to
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international marketing. In context to Primark it was earlier used to deal only in Ireland.
But currently it is planning to expand its business in different countries as well.
Export marketing: In this, the company step out in to the international market.
Main aim of the organisation is to expand the business in other nation as well. Here the
company does not market directly but It exports through the help of agents and different
sales man (Morgan, Feng and Whitler, 2018). In context to Primark, clothes will be
exported to different nations which will increase the revenue of organisation along with
this it will enhance the brand name to organisation.
Multinational marketing: In this, organisation concentrates on not only
exporting of its product whereas it focuses on selling the products by marketing. In this
the name only make understand that company is making and applying marketing
strategies for more than one country. Here, targeted market is of more than one nation
where the business will be expanded.
Targeting demographics – In state of growing marketing strategies,
establishment mostly needs to target certain statistic or demographics. The success of
any marketing strategy is majorly depends on the type of population that is being
targeted and its characteristics, such as developed countries are more likely to adopt
western clothing whereas, under developed follow some of their traditions and culture in
terms of clothing as well.
Closed loop marketing: In these customers are being focused on, every
feedback and response of consumers are being monitored and checked. It is really
important to know that what is the need of consumer and whether the same is being
fulfilled or not. It will help the organisation on covering their target market. As when an
establishment is able to fulfil their consumer needs and wants than it can achieve its
goals and objectives.
P.2 Rationale to enter into international market and Modes of entry
Market entry strategy is a planned delivery and distribution methods of products
and services in a new target market. In the export and import of services, it is stated as
a development and management of contracts in a foreign nation. Expanding into a new
or foreign market is an effective strategy or practice that leads to growth and
development of the business. (Amankwah-Amoah, Boso and Debrah, 2018). It is a
technique that is used by companies to promote and distribute their goods and services
into various type of market internationally to generate more profit as compared to local
market. Due to development of technology, it is easy to target and enter into new
markets all over the world. Market entry strategy can be useful for each and every
business that requires a global presence or position and enhance their customer base
or profitability. Primark is trying to enter in all other countries so that it can expand its
stores in all other countries and can be a leading fashion brand. In order to In order to
expand their business in a new foreign market Primark can use the following methods
or strategies of market entry –
Exporting – It is a procedure of selling products and services produced in one country
to another. There are two kinds of exporting methods, direct and indirect. Direct exports
demonstrate the most basic form of exporting produced by a holding company,
capitalised in economies of scale in production sector within the home country and
maintaining effective control over distribution. On the other hand, Indirect export is a
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