International Marketing

This presentation discusses the concepts of global and local marketing, marketing mix in an international context, international marketing approaches, and competitors' outlining implications. It provides insights into the strategies and recommendations for successful international marketing.

INTERNATIONAL MARKETING

TABLE OF CONTENT
 P5- Global and local marketing
 M3 – Adopting of local and global marketing
 P6- Marketing mix in international context
 M4- Adapting marketing mix
 P7- International marketing approaches
 P8- Competitors outlining implication
 M5- Approaches and recommendations

P5- Global and local marketing
 Global and international marketing refers to generalised messaging which is intended and
spread to every individual. It is on huge scale having large customer base for the same.
 This encompasses countries from various different regions all across the world and helping with
coordination of Toyota marketing efforts in these target countries.
 This helps in establishing global presence and leads with huge amount of planning to do global and
international marketing. It leads with company to have huge sales revenues and margins of
profitability and leads the company to get competitive advantage in winning in marketplace and leads
with recognising of brand image

P5- Global and local marketing (Contd..)
 Local marketing refers to marketing which is being focused with small target audience. This a
marketing which is being briefed with specific details and do not requires huge time of planning.
 This can be done by individual who are not as competent as individuals who are being required to be at
front face of doing international and global marketing of Toyota offerings.
 This targets individuals and potential customers with certain radius of location that is physical to
business of company. This is a great way of gaining and having customers in areas of surrounding
where the business is being seen as better option by customers.

M3 – Adopting of local and global marketing
 When Toyota is being planning to expand and diversify its business operation it is suitable to opt for
international marketing as it will help with promoting and generating awareness of company product
and services to target audience .
 The local marketing can be preferred when the customer base is already humongous and
manufacturing cost is less as it will help with saving of money.

P6- Marketing mix in international context
 These vary from place to place where the business is expanding its business. It includes
 Products- The company needs to offer the wide range of product and services variety to the audience
as it will leads with effective means of customer decision making process which will leads with
customer satisfaction and retention.
 Prices – This come with priority before making any purchase decision. It should be in way needs to be
according with the competitors or even less than that. If this are substantially high, it will result in loss
of market share where the competitors will take advantage of the same and win in international market
(Tien, Phu, Chi, 2019).
 Promotion – This needs to be highly effective which can be by both means such as online and offline.
By online means it leads with using various social media platforms that are you tube, Facebook,
Instagram and others which reach to large number of customer with no time.

M4- Adapting marketing mix
 Place- This leads with distribution of company goods and services whereby company needs to ensure
that its establishes its distribution centres which are at ease and convenient to customer to visit and
enquires about the offering of company and to make the valuable purchase decisions

P7- International marketing approaches
 There are various international marketing approach which is being adopted by Toyota. It relates with
four types of approaches such as
 Ethnocentric approach- This approach relates target market is own country which results in excessive
production will export due to changes in preferences of customers. This approach believes that
practices of Toyota within their market which is being domestic will drive up with the strategy which
is being international.
 Poly centric approach- This approach implies with company customising the mix of marketing to
meet the needs and wants of customers. It understands that every international market requires the
approach which is being unique to them. This evident itself in every country in which Toyota
operates, having the freedom to follow the strategy which best suits them.
 Regio centric approach - This is the approach which relates with company being operating in
international country successfully thinks of exporting to other neighbouring countries to the hosting
country. In other words it could be understood as selecting of managers from within the regions across
the world that resembles closely in hosting country

P8- Competitors outlining implication
Ethnocentric Geocentric
Orientation of management Home country Global
Market perception It is domestic in nature, which focuses on similarities
between foreign and home market. It states that foreign
markets are the extension of markets which are being
domestic to Toyota (Shin, Noh,and Lee, 2018.).
Entire world is being assumed and treated as single market in
this approach
Market strategy It relates with extension strategy which are being
domestic in nature to markets that are being international
Follows with strategy of global standardisation all across.
Advantages No and less cost and efforts associated with localisation
and serves with an easy route to internationalisation
It is of advantage as it leads with consistency and helps in
achieving of economies of scale.
Disadvantages It limits with scope of exploiting with the opportunity
associated with international market.
This is of disadvantage as this may not be successful in many
cases

M5- Approaches and recommendations
 Geocentric approach – Under this Toyota identifies with needs and
wants of potential customers in all international market and finally
adopts with standard marketing mix for all foreign marketplace.
 This assumes the entire world as potential market where basic
assumption lies with that all human beings are alike.
 It is being recommended that company should plan effectively before
entering in international market and should be aligned within the budget
of company.