Scope and Key Concepts of International Marketing

International
Marketing

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Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1. Scope and key concepts of international marketing.........................................................3
P2. Rationale for willingness to market internationally.........................................................6
LO 2.................................................................................................................................................9
P3. Key criteria and selection process while entering international market...........................9
P4. Market entry strategies.....................................................................................................9
LO3................................................................................................................................................13
P5. Key arguments in context to local v/s global marketing................................................13
P6. Examine product, pricing, promotion aswell as physical distribution approaches........14
LO 4...............................................................................................................................................15
P7 International marketing approaches................................................................................15
P8. Home v/s international orientation along with ways to assess competitors...................16
CONCLUSION..............................................................................................................................17
REFERENCE.................................................................................................................................18
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INTRODUCTION
International Marketing refersto the marketing principles whichis mainly applicable in
differentcountriesforthe expansion of an organisation in different country boundary. Marketing
playsvery essential as well as crucial role in the present market place which helps in attracting
large number of customers by expanding business functions at international marketplace. With
the assistance of globalorinternational marketing businessorganisation can easily enhance their
sales and profitability of the company (Sheth, 2020). MaBaker is chosen as the base organization
in this report which is a bakery located at middle of Fulham, London. This currentreportis
categorized into two main parts. The first sectionincludes discussion about the scope aswell as
concept of international marketing, routes for market entry, rationale, opportunities & challenges
linked with marketing. Alongwith this it consist of detail description about the entry strategies
and recommendations are given to the management team. In the second
section,detaildescriptionabout the company alongwiththeir current market is included.
Differentiationamong global aswell as local marketingand comparison between home &global
orientation are going to be discussed as follows.
LO 1
P1. Scope and key concepts of international marketing
In accordance to the views and opinions of Czinkota and Ronkainen (2013),
international marketing encompasses institution, practice, activities that take place across the
periphery of home country that tends to give rise to, transfer and exchange offerings which hold
significant value for the stakeholders as well as society (Pegan, Vianelli and de Luca, 2020).
As per the ideologies of Armstrong and et. al. (2015), it can be said that international
marketing can be referred to as the implementation of marketing capability as well as orientation
of a firm at global scale.
According to the views ofAkaka, Vargo and Lusch (2013), it can be stated that
international marketing can be referred to as the integration of practices which intend to
consequently lead to an exchange that creates satisfaction for people across the geographical
periphery.
Scope
The scope of international marketing is presented beneath:-
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