Marketing in International Market | Report
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Added on 2020-02-03
Marketing in International Market | Report
Added on 2020-02-03
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INTERNATIONALMARKETING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................2TASK 3............................................................................................................................................3TASK 4............................................................................................................................................3REFERENCES................................................................................................................................5
INTRODUCTIONInternational marketing refers to a concept in which companies use to extend theirbusinesses beyond the international boundaries. Through the international marketingorganisations intend to make more profits with operations in both domestic and internationalmarket. The present report on International marketing focuses on the same element thatemphasise the importance of marketing in international market (Cavusgil and Cavusgil,2012).Further, report is based on Generator Hostels who wishes to expand its services ininternational market. Moreover, the study of this report also emphasise on applying models ofexpansion along with critical study of competitors. TASK 1The company has applied a model for expansion purpose which is based on Vernonmodel. This model is in much practice in modern era of globalisation which shows the practiceof expanding services in market with a product that are new for customers. The model was givenby Raymond Vernon who explained the patterns of internationalisation for organisations (Clarke,Tamaschke and Liesch,, 2013). For this model he explained the life cycle of products whichrefers to different stages that occur in the life of a product. This model can be best utilised byGenerator hostels which is a service organisation and provides staying facilities to customerswith lots of services. The company can make its expansion with a launch of new luxury suiteapartment. The model says that every product passes from certain stages which is introduction,growth and maturity stages. The Raymond Vernon has published the model that mainly describesthe internationalization patterns of the cited organization. The International Product Life Cycle Model (IPLC) mainly consists of the three differentstages the first phase is of new product in which the cited hotel launches their new services fortargeting the luxurious customers and travellers towards their home services (Covin and Miller,2014). In the present environment the customers are willing to purchase the luxurious and deluxehostel services to the traveller so that they may have leisure and pleasant stay within theorganization. Another phase of the model is maturing services of the cited organization in whichthe company export their services to the developed market that results in lowering down thelabour cost. Exporting the services in the different nation supports the cited organization inenhancing their market share and profitability ratio (Fletcher, Harris and Richey, 2013). The last1
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