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P1 Scope and Key Concepts of International Marketing

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Added on  2020-11-12

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The report has developed over Homebase Group that is UK based multinational organisation. The company is aiming over expanding their business at global market for increasing international recognition and gaining more revenues (Akaka, Vargo and Lusch, 2013). The report will work over concept and scope of selection procedure, global marketing in regard of carrying out the marketing strategies to enter in new international evaluating its demerits and merits. It will discuss the marketing mix and determine different strategies or approaches that can be adopted by enterprise.

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P1 Scope and Key Concepts of International Marketing

   Added on 2020-11-12

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International Marketing
P1 Scope and Key Concepts of International Marketing_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Scope and key concepts of international marketing..............................................................1P2 Rational for an enterprise to want to market internationally.................................................3M1 Opportunities and challenges that marketing internationally...............................................4TASK 2............................................................................................................................................4P3 Key criteria and selection process..........................................................................................4P4 Different market entry strategies and its advantages and disadvantages...............................5M2 Market evaluation criteria and entry strategies, and make recommendations......................6D1 Critical evaluation of the international market......................................................................7TASK 3............................................................................................................................................7P5 Overview of the key evidences in the global vs local debates...............................................7M3 Circumstances in which your client organization should adopt a global or local approach.8P6 4P's of marketing mix differers in a variety of international context....................................8M4 Way to adapt the marketing mix of organization in different international markets............9D2 How the marketing mix is applied to a range of international contexts................................9TASK 4..........................................................................................................................................10P7 Different approaches of international marketing.................................................................10P8 Compare between international and home orientations to assess competitors....................11M5 Various marketing approaches and competitor analysis in relation to an organization.....11D3 How organisations should be structured to maximize the opportunity...............................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONInternational marketing can simply be termed as the application of principles ofmarketing to more than a single nation. However, known as global marketing, this outlinenumerous marketing practices to more than one nation designing marketing mix and customisingthis as per the preferences of the country. The foremost decision which any firm has to undertakeis whether to operate business internationally or organisation may require to globalise to oweextensive domestic market shares. International marketing methods can help in emphasisingeconomies of scale, higher benefits opportunities and extensive share of market etc. The reporthas developed over Homebase Group that is UK based multinational organisation. The companyis aiming over expanding their business at global market for increasing international recognitionand gaining more revenues (Akaka, Vargo and Lusch, 2013). The report will work over conceptand scope of selection procedure, global marketing in regard of carrying out the marketingstrategies to enter in new international evaluating its demerits and merits. It will discuss themarketing mix and determine different strategies or approaches that can be adopted by enterprisefor deploying significantly at the global market. TASK 1P1 Scope and key concepts of international marketingInternational marketing can be defined as framework of rules, institution and processassociated with the services and goods exchange between the company and individual. A marketcan be termed in distinct manner, involving by consumer, geography, commodity or evenconsumer's behavioural trait. Hence, in brief, international marketing can be termed as externalinternational borders of a nation. Key distinguish between the domestic and internationalmarketing terms is that marketing practices incur in more than one country. Homebase hasexpanded its business across United Kingdom and Republic of Ireland (Bertoli, 2013). Thecompany is planned to deploy its in France in regard of achieving large market share. Thecompany will support in leveraging assets, experience and service into the international trade.Key Concept of International Marketing: Some certain concept of global marketing i.e.essential for business, are needed to identify by Homebase to form business in different marketstypes. Here are set some certain aspects: 1
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Global Marketing: It is paramount of Homebase in regard of attaining service at nationallevel. Globalisation: It is another international marketing concept that carry out distinctcommunication means such as social media, print etc. Export Marketing: In this stage, company mainly focus over products transportation andin distinct trade (Chung, Lu Wang and Huang, 2012). Multi-domestic Marketing: As per this, operations and business activities extendactivities at global level. International Market: The concept is fundamental for Homebase in order to createglobal recognition. By this, they need to export and import their services to distinctclients and branches. Scope of International Marketing: It is needed to consider to employ global marketing method that consist of high scope inbusiness, nowadays. Due to different strategies of marketing, deployment has confined withinborders of nation. Here are discussed some certain scopes that are determined for Homebaseexpansion in France: Exports: It is just similar for the nation as this is for brand. Organisation need to exporttheir finished services and product at global market in regard of deploying their brandrecognition overseas. Imports: It is essential for international marketing of business in which specific productis purchase form certain nation along with selling them in other market in disciplinedmanner (De Langhe and et. al., 2011). Homebase can deliver more distinct service byimporting in-demand products and effective services to clients. Joint-venture: In this, more than two brands comes under this to enter a newmarketplace. The benefits, losses and investment initially determined in specific valuesand time period. It is fundamental for business to emphasise focus over obstacles andscope to enter into new market. Such as Vodafone and Telefonica applied to shareorganisation's mobile network functioning business as joint-venture. Fully Owned Manufacturing: According to this method, business operate numerousactivities or operations in the host country or deploy in global market. This is required bythe different resources assistance such as land, advanced technology and manpower etc. 2
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