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International Marketing Assignment - Savoy hotel

   

Added on  2020-10-23

15 Pages4144 Words149 Views
INTERNATIONALMARKETING

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1PART 1: LO 1..................................................................................................................................1Introduction to the organization.............................................................................................1Sources to define international marketing and the main differences to local marketing ......1The scope and key concepts of international marketing........................................................3Rationale for going international and various routes to market that Savoy hotel can adopt..4Opportunities and challenges that marketing internationally presents to an organization.....4Critical evaluation of international marketing........................................................................5PART 2: LO 2..................................................................................................................................6Key criteria and selection process that company should use when considering whichinternational market to enter...................................................................................................6Market entry strategies along with advantages and disadvantages........................................7Recommendations and critical evaluation of international marketing and strategies ...........8TASK 2: LO 3..................................................................................................................................8Covered in PPT ......................................................................................................................8TASK 3: LO 4..................................................................................................................................8Explaining and analysing in detail various international marketing approaches that companycan adopt.................................................................................................................................8Comparing home and international orientation, their implications as well as ways to assesscompetitors.............................................................................................................................9Appropriate conclusion and recommendations....................................................................10CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................12

INTRODUCTIONMarketing is the most important element or function in an organisation that is useful topromote its services and products in a local or international market. It is essential to attractcustomers in marketplace to sell maximum items or services that contribute in the profitability oforganisation (Papadopoulos and Heslop, 2014). The present report is in context to Savoy hotelwhich is a popular hotel in London. While expanding its services in different countries, it faces alot of challenges that will be discussed in this report. The report will include a description of keyconcepts related to marketing along with various routes or methods an organisation can adopt toenter into new market. Various factors which can influence marketing plan of Savoy hotel willalso be determined in the present study. Furthermore, approaches of international marketing thatcan help an organisation to expand its business will also be discussed in this report. TASK 1PART 1: LO 1Introduction to the organizationThe Savoy hotel is a luxury hotel is located in the strand in the city of Westminster incentral London, England. Established by the impresario Richard D'Oyly Carte with profits fromhis Sullivan and Gilbert opera productions, it opened in the year 1889. It was the first in theSavoy group of hotels and restaurants owned by Carte's family for more than a century. TheSavoy was the first luxury hotel in UK, introducing electric lights throughout the infrastructure,electric lifts and bathrooms in most of the lavishly furnished rooms, constant cold and hotrunning water and many other innovations. Carte hired Cesar Ritz as the manager and AugusteEscofiier as chef de cuisine, they developed an unprecedented standard of quality inentertainment, hotel service and attractive dining, attracting royalty and powerful or rich guestsor diners (De Mooij, 2015). The hotel became popular all over UK, but there is a great need forexpanding its business in various other countries to increase their profitability. The hotel isplanning to increase its business in Nepal which is a developing country. Sources to define international marketing and the main differences to local marketing International marketing is a process in which marketing activities are adopted to cater theglobal or international market (Domestic and International Marketing, 2017). Generally, the1

organizations start their business within their home country. Once these business achieve successthey proceed their firm to a next level and becomes an international company where they seek toenter in different markets in various countries. Therefore, it is essential for an organization to beaware of rules and regulations of the country they are expanding into (Hakansson and et.al.,2015). On the other hand domestic marketing is when commercialization of goods and servicesare limited to the home country. There are various differences in international and domesticmarketing as described below - Basis of comparison Domestic marketing International marketing Meaning It refers to marketing withinthe geographical boundaries ofthe country. It means the activities ofpromotion,production,advertising, distribution andselling extend the geographicallimits of a nation. Area covered Small Large Government interferencelessComparatively, high Business operations Within a single country More than one country Use of technology Limited Sharing and use of the latesttechnology. Risk factor Low Very high 2Illustration 1: Domestic and International Marketing (Source: Domestic and International Marketing, 2017)

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