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Scope and Key Concepts of International Marketing

   

Added on  2020-06-06

18 Pages5232 Words79 Views
International Marketing

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Scope and Key concepts of international marketing..............................................................1P2 Various route to enter into international market and about rationality of expansion............3M1 Evaluation of challenges and opportunities faced by organisation in international market.4TASK 2............................................................................................................................................5P3 Selection process and key criteria which is used about selection of international market toenter.............................................................................................................................................5P4 Advantages and disadvantages of different market entry strategies......................................6M2 Market evaluation criteria and entry strategies and recommendations................................7D1 Critical evaluation of the international market and marketing strategies to respond criticalmarket situation...........................................................................................................................8TASK 3............................................................................................................................................8P5 Key arguments in local and global debates............................................................................8P6 Product, price, promotional and distribution approach differs in variety of internationalcontext.........................................................................................................................................9M3 Evaluation of circumstances in which clients adopt global and local approach.................10M4 Determine and articulate in details how to adopt marketing mix in international market.11D2 Critical evaluation of how the marketing mix is applied to range of international context11TASK 4..........................................................................................................................................11P7 Analysis of the different international marketing approaches.............................................11P8 Comparison between home and international ways to tackle competitors .........................12M5 various marketing approaches and competitor analysis and recommendations.................13D3 Recommendations on how organisation should be structured to maximise an internationalcontext.......................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTIONMarketing is the study of the behaviour of customers to build good relation. It can beformed with the help of the coordination among four different elements which are known as 4P'sof marketing which includes selection and production of product as per customer preferences,determination of effective price to influence their buying behaviour, building good distributionchannels which helps to easily reach towards to their end customers and implementation ofpromotional strategies. Globalisation helps the organisation is to earn large number of profits andimproves their market share. In this regard management is need to effectively apply theprinciples of international marketing which helps in identification of the factors prevails outsidethe domestic boundaries. Through expansion of their business operations large number ofbenefits which are gathered by organisation includes high market share, large opportunities toearn profit, attainment of economies of scale etc. Glastonbury Festival Organisation isconsidered as five day festival of performing arts which happens near Pilton, Somerset, England(Akaka, Vargo and Lusch, 2013). In the present report explain about, concepts and scope of international marketing,different routes which are available for organisation to enter into new market internationally,criteria and selection process which is used while selecting international market to enter,application of different market entry strategies and their advantages and disadvantage and keyarguments which are arise between local and global debate. Also, about difference in product,price, promotional and distribution approach while use in international context and differentinternational marketing approaches.TASK 1P1 Scope and Key concepts of international marketingOverview about Glastonbury Festival Glastonbury Festival is music festival which was inaugurated on 19 September 1970,around 47 years ago. It is five day festival of performing arts which are organised near Pilton,England and Somerset. In addition to the music events there are many other activities areprovided simultaneously like comedy, theatre, circus, festival host dance, cabaret dance andother arts. Pop and rock artists are headlined which provides their best regarding attraction oflarge number of audiences. There are different kind of albums and films are recorded at

Glastonbury Festival which are released. It provides the opportunity regarding attainment ofmore television and newspaper coverage. It is observed that around 175000 individuals are attend their festival which helps to raisethe large amount of funds for the betterment of various charity organisations. To provide theirperformances effectively need to have good infrastructure in terms of security, transport, waterand electricity supply (Berthon and et. al., 2012).Concept of international marketingIt is the process of identification about the needs of global customers and satisfy themwith the application of different approaches better then their competitors present in domestic andinternational market. This will includes about taking the various steps which helps to bringcoordination among the marketing activities in relation to the factors which are present in globalenvironment. It also known as multinational process about the planning and execution of theideas across the boundaries for attraction of huge amount of individuals towards their activities.Glastonbury Festival organises different events locally to raise funds for charitable organisations.Now the aim of organisation is to provide their concerts in France to attract more audiences andexpansion of their reach in all over the world. Application of international marketing approacheshelps in their recognition among the individuals of France which improves their popularity andbrand image (Cadogan, 2012). The major concepts behind the adoption of internationalmarketing approaches in context of their expansion in France are mentioned below:Study of the behaviour of individuals reside in France about their the favourite eventsProvidence of such art which helps to attract the people in more numberSetting of the effective price as per the paying capacitySelection of effective distribution channels to distribute their passes and ticketsBring awareness among the individuals of societyScope of International marketingThe scope includes about the different methods which helps the organisation is to enterinto new market. Such methods can be named as exports, contractual agreements, jointventuring, strategic alliance, management contracts etc. Through use of these methodsGlastonbury Festival attains the support of local parties which are operating in France. Theprinciples of all these methods are defined below:

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