International Marketing Strategies of Ritz Hotel

UNIT 40- INTERNATIONAL
MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
TASK 1............................................................................................................................................3
Overview of the Ritz Hotel..........................................................................................................3
Differentiation between international and local marketing.........................................................3
Scope and key concepts of international marketing....................................................................4
Rationale for a company to want to expand market internationally defines different routes to
market a company can adopt.......................................................................................................4
Evaluate the opportunities and challenges that presently available in the new market...............5
Part 2 Key criteria and selection process that the company should use......................................5
Task 2...............................................................................................................................................7
Global v/s Local debate...............................................................................................................7
Difference in the marketing mix elements approaches..............................................................10
Task 3.............................................................................................................................................14
International Marketing Approaches.........................................................................................14
Recommendations......................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
International marketing referred to the process of doing the marketing in the international
level and it is the most important way of marketing and awareness about the product and service
provided by the hotel and organization. The report will explain the business strategies in
international context and it will explain the elements of marketing plan.
MAIN BODY
TASK 1
Overview of the Ritz Hotel
It is a multinational company that run the luxury hotel chain that known as the Ritz-
Carlton. It operates into multiple countries across the world with the support of subsidiaries and
offers hospitality services to the consumer. It is a five-star hotel in London and it is considered
one of the worlds’ most prestigious and best-known hotels. It was established by the Abdulhadi
Mana Ai Hajri in 1998. It is completely designed accordingly London and Paris by the Louis
XVL style. it denotes that it emphasizes over adaption (Tien, Phu and Chi, 2020). It posses’
three restaurant as well. It is a first hotel that have receive a Royal warrant from the Prince of
Wales for it’s catering and banquet. It has plan to make business internationalize so it selects a
specific country Ireland to expand its business in this country effectively.
Differentiation between international and local marketing
There is wide difference between international marketing and local marketing such as
local market is not as much broad like international market. International marketing requires
standardization in product, promotion and services while local market does not require any
standardization or adaption in the local market. it is one of the major differences that differentiate
international market from local market. In addition, international marketing is the promotion and
sales of the organization that offer to the consumer in different countries. It is bit complex and
needs huge amount of the financial resources for investment purpose. Another is that, if any
company expand it’s business at international level then it have follow different norms of the
different countries because each nation has it’s own laws so it is one of the major difference
between local and international market. On the other hand, in the local market company do not
require to follow different norms and needs small amount of financial purpose. There is a great
example of UK and Ireland. Ritz Hotel has established it’s business in London, UK and has plan
3

to entry into the Ireland. In this case UK is the local market for the Ritz Hotel while Ireland is the
new market that is considered international market. Both nations are quite different from each
other in term of customer preference, product, political and economic factors basis.
Scope and key concepts of international marketing
International marketing can be defined as the marketing that carries on around the national
boundaries. In other word, it is a activity that related to the sale of goods and services of one
country to other countries by following framed rule and regulation of other nation. International
marketing has wide scope in the market such as it includes exporting of goods and services in the
foreign market through which company enable to make good relation with the strong parties and
in exchange maximizes commercial benefits. There are four concepts of international marketing
such as export strategy, standardization, multidomestic and transnational strategy (Venkatraj,
2020). International business strategy is a type of trade off that takes place between global
integration and local responsiveness. According to global integration an organization is enable to
use it’s existing product at different countries. While local responsiveness is the process of
customization of products and methods that is untaken by company to fulfil needs of customers
in other countries. Ritz Hotel will get positive aspect from the international marketing because it
can adapt different concept of international marketing in order to successfully enter into it’s
targeted nation Ireland (Grover and et.al., 2018). To establish hotel in the Ireland, it is the best
option for the company because it is quite productive economic sector. Government of Ireland
provides financial facility to the foreign company to open it’s business in the Ireland. Another is
that Ireland has 5th position among best country for the travel with the lots of offers. So, it is the
great opportunity for the Ritz Hotel to expand it’s business in Ireland.
Rationale for a company to want to expand market internationally defines different routes to
market a company can adopt
International business allows organization to expand it’s business into different countries
through revenue of the company always keep stable. There are lots of reason so company always
seeks for making business internationalize such as international market provides various
opportunities and a growth potency. Another is that it gets lots of approaches to access wide
number of customers through which it enables to build large customer base. With this strategy
company enables to increase selling revenue of the products and services as well as brand image
in the international market. In addition, company get change to hire international employee who
4