Tapping Into New and International Marketing
Added on 2021-02-20
23 Pages7043 Words158 Views
Tapping Into New andInternational Marketing
Table of Contents
INTRODUCTIONInternational Marketing is described as the results of business operations aimed atplanning, pricing, promoting and directing the distribution of products or services to customersor clients in further than one country for gain (Alon and et.al, 2016). The only distinction amongregional marketing terms and global marketing is that marketing operations occur in many morethan one country during the latter situation. The marketing goal stays very well for advertisers,regardless of whether domestic or foreign. The goal is to create money by selling geographicallydemanding goods or services. Moving Worldwide passes hand in hand with many difficulties,apart from production modifications and fresh regulatory structures, global advertising is one ofthe biggest obstacles to be addressed, but it can be managed with a few understanding and someguidance. Hallmark mayonnaise is popular company that provide mayonnaise in differentcountries for different customer. The company wants to expand their business at global level tomake the product appeal to customers across all markets they have looked into the 4P's of globalmarketing. It will help to meet only the people but also their habits as they want to have a globalpresence. Most of the market have different cultural so global marketers decide to interact withmarketing programme in an industry (Bang, Joshi and Singh, 2016). In the report consist ofscope and key concepts of international marketing, rationale for the business and critical analysisof opportunities and threat. Along with analysis different market entry strategies and theiradvantage and disadvantages than provide recommendations to team for international tradingblocs and agreement for Hallmark Mayonnaise. Additionally, key elements of global vs localdebate and provide differences between merchandise and service import and export. Defineapproaches of product, pricing, promotional and distribution to analysis the decision of adaptionand standardization.TASK 1Scope and concept of international marketingHallmark mayonnaise is a very famous and best selling mayonnaise in London'sNorthwest that thinks in “Distinct individuals need distinct Mayo's”. The company mainlyconcentrate on business entity to select honourable and clear approach for formulate businessoperations. The company wants to cover large market and expand their business activities intodifferent countries. It provide its product at fair price in Australia that is known as well
developed nation and form have chance to spread out its operations in several areas in efficientway. Concept of international marketing: It is the application of marketing principles tosatisfy the varied needs and wants of several individuals occupy the across national borders. Theinternational marketing is covering different market activities in more than one nation. It is alsoknown as global marketing. There are three international marketing concept like - 1.Orientation to foreign trade 2.Guidance to sales in foreign markets 3.Orientation to international marketing Through international marketing present the performance of different business activitiesto designed plan, price, promote and direct the flow of a company's goods and services to endusers in more than period of time (Boso, Debrah and Amankwah-Amoah, 2018). Differentconcepts linked with global marketing that important for involve by supervisor of marketingdivision: Recognise and analysis of individual's behaviour who living in Australia. Launch mayonnaise into different countries to increase taste of customers. Set fair price of product according to income level of individualsScope of International marketing: All the business activities such as development,production and marketing especially in case of high tech products include individuals fromaround the world to work together. Since the number of potential markets is developing so it isessential to complete information and get out from mess. There are defined scope of theinternational marketing in the context of Hallmark Mayonnaise. For international marketing company following these marketing strategy that helps toHallmark mayonnaise to enter into the market - Ethnocentric: Ethnocentric strategy will be best suited for small businesses only joiningglobal operations. If business is small and want to invest money into international marketto enter into foreign market in overseas functions. Before enter require to analysis offoreign country to recognise characteristics of similar to native nation and sell to them.This strategy seems most fitting whenever the number of sales in foreign countries isnegligible compared to the company's total sales.
Poly-centric: Poly-centric will be fainted for businesses that are completely committedto global marketing and will be likely to invest to the degree needed to reach their goals.The benefit of this strategy that it will be most impressive path to encourage ofmanagement. As a result management provide a free hand to set rules and apply themaccordingly. The another benefit of this strategy that chances of knowing the client betterand supreme degree of marketing orientation. Geocentric: The particular strategy apply for global attitude and effectively developmarketing strategy. Through the approach create coordination and control. The particularpolicies based on high cost. It may prove more successful area like manufacturing andresearch than in marketing. If company wants enough data regarding to foreign marketsituation, set target segment so it will be recognised on a regional or global basis andbuild up suitable approach. Regio centric: According to this strategy conduct foreign activities through anorganisation where identify the common features in nation happiness to a specificgeographical region. Therefore apply the similar approach in all the selected countries asper the region. Justification: Hallmark mayonnaise select geocentric strategy because in this strategyhave less risk to compare other strategy on the part of firm. Since not much investment isdevelop according to international activities. If company face any type of loss so they can easilysettle amount without any problem. All other three strategy based on high cost and forinvestment require tofollow different procedure. So geocentric strategy is suitable for thecompany. PESTLE Analysis of the global business environmentAnalysis of global business environment - Examination of a business's global climate iscalled global environmental examination. This research is one of the evaluation process of abusiness, that also includes other analyses, such as the assessment of the sector, the evaluation ofthe business and the evaluation of businesses, consumers and rivals. It is classified into two partsfirst one id macro and second micro level. In this analysis many factors play crucial role such aseconomical, social and others. In the context of Hallmark Mayonnaise conduct PESTLE analysis of Australia wherethey are operating business activities in effective manner.
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