Scope and Aspects of International Marketing

This report discusses the scope and key aspects of international marketing, the rationale for marketing internationally, various routes to market the organization, key criteria and selection process for entering a market, different strategies for market entry, and the differences in the P's of marketing in different organizational contexts. It also explores different international marketing approaches that can be adopted and compares home and international orientation in assessing competitors.

International marketing

Table of Contents
Table of Contents.............................................................................................................................2
Introduction......................................................................................................................................3
TASK 1............................................................................................................................................3
P1 Scope and key aspects of international marketing.................................................................3
P2 Rationale for this to market internationally and explain various routes to market the
organisation..................................................................................................................................4
TASK 2............................................................................................................................................5
P3 key criteria and selection process to use while considering the market for entering.............5
P4 Different strategies for market entry......................................................................................6
P5 key arguments in global and local debate...............................................................................6
P6 How P’s of marketing differs in various organisation context...............................................7
TASK 4............................................................................................................................................8
P7 Explain and evaluate different international marketing approaches that can be adopted......8
P8 Compare home and international orientation and ways for assessing competitors................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

Introduction
International marketing is known as the operational activity and task in which a company
starts doing business in new foreign market. The main objective of all organisations is to earn
more profit and money. For doing so, the strategy used by companies is entering the international
markets. There are various opportunities for a company while operating business in foreign
markets. This is helpful in making good money and reaching the potential customers of
international countries (Bijaoui, 2016). The company considered in this report is Tantalum
corporation. This company is involved in making comprehensive connected ecosystem. This
organisation was started in Uxbridge in the year 2014. This report will tell about scope and
aspects of international marketing. It also consists of rationale for this to market internationally
and explain various routes to market the organisation. There is explanation of selection process
while entering new markets. This report will help in analysing various approaches of
international marketing. There is description of home as well as international orientation in order
to assess competitors.
TASK 1
P1 Scope and key aspects of international marketing
International marketing is known as the factor which is helpful in doing business in foreign
countries and making money. It is helpful for promoting and manufacturing of products and
services across the globe (Trąpczyński, and Wrona, 2013). International marketing has a white
scope in market. This is described below-
International marketing helps in in maintaining peace among various Nations - in a
business organisation, there are various departments like production, marketing, research and
development, manufacturing, etc. Which are performed effectively in order to gain customer’s
interest. There are various countries which do business for commerce and recreation.
International markets open various opportunities- the manufacturing of services and
products in international market will help in reaching potential pool of customers. This is helpful
in managing the operations in cost effective manner.
Export and import - there are various organisations which manufacture product and
services in international markets. There are various local organisations which manufacture their

product in international market through import and export. This helps in developing a country's
economy.
Contractual agreement - there are some cases in which business operations are conducted
outside national market for maximizing profits (Yeates, ed., 2014). This is helpful in increasing
the customer base and profit volume.
Joint ventures - this explains that there are two companies which combine their operations
for attaining success in market by having common objectives.
P2 Rationale for this to market internationally and explain various routes to market the
organisation
Rational for tantalum Corporation to expand its business internationally
International marketing is known as the marketing of products and services in more than
one country. major objective of doing business outside the country is to make more money and
attract a lot of customers towards the organisation. In the same way, tantalum corporation is is
planning to expand its business in other countries. This company deals in automation and
technological advancement of automobiles. There is lot of opportunity for this company to
generate more revenue while conducting business operations at international level.
Different routes for market internationally
For business operations, there are various routes that are used by companies for entering
international markets. Some of these are given below-
 Licensing- it is known as the arrangement in which an organisation transfer the rights for
selling of products and services of the company.
 Direct exporting- it is known as selling of products and services directly into
market.there is evaluation as well as analysis of resource availability before direct
exporting.
 Franchising - it is known as the way in which products and services are launched in
various foreign countries.

 Partnering - this is defined as the way a for entering into foreign and international
markets. In context of tantalum corporation, there is a pot unity for this company to
expand its business in Asian market.
 Joint ventures - these are defined as type of partnership in which a new company is is
developed by combining of two business organisations. the new developed company has
common targets and these are achieved in specified time frame.
 Buying a company - this is known as the best strategy when a company is planning to
expand its market in foreign level.
The best strategy that can be used by tantalum corporation is partnering. festivals and
opportunity to grab market share and maximize profits of the company.
TASK 2
P3 key criteria and selection process to use while considering the market for entering
The different Strategies for entering into foreign market in context of tantalum
corporations are mentioned below –
International marketing objectives – this is defined as the way in which market is selected for
launching a new product or service in foreign country (Huang, and Sarigöllü, 2014). The main
aim for the company is to make more profits and revenue.
 Parameters for selection - these are known as those factors which will help in evaluating
market. It is important for business to analyse various parameters for selecting the best
market in which organisation can expand its business operations.
 Preliminary screening - this is defined as the evaluation and selection of markets. this is
known as elimination of the markets selected in the above step. The best market which
includes all the potential to develop a profitable business is used by the tantalum
corporation.
 Shortlisting of market - the screening test conducted above clarifies that what are the
different markets in which the company can operate business operations. In this step, the
best suitable market is chosen in order to attain success.
 Test marketing- this is known as testing in which customers are analysed in the chosen
market. This step is known as the estimation of success of business.

 Commercial production – this is known as this step in which production testing is done
in selected market. Product mix is generated in this last step.
P4 Different strategies for market entry
Market entry is a concept used for estimating the ways for entering markets. Different
companies develop strong and effective marketing strategies for establishing good reputation
within marketplace. There are following types of market entry strategies which can be used by
Tantalum corporation are mentioned below -
Joint venture: This is defined as the way of conducting business in which two or more
companies come together and do business in collaboration. The profit and loss is incurred by all
the partners.
Advantages-
 This will provide help the company in gaining insight and expertise.
 Tantalum corporation will be able to use resources more effectively after entering into
joint ventures. High profits are gained when tantalum corporation starts joint ventures in foreign
countries.
Disadvantages-
 These are flexible but the main problem is this both the partners do not take initiative to
manage if business fails. The new organisation has to suffer all losses.
 Equal pay is not provided by the company
Buying a Company: tantalum corporation is able to buy already existing companies and a
criteria is selected that matches the expansion criteria. This is very expensive for the
organisation.
Advantages-
 There are well established strategies and plans with the company. This company has the potential of securing loans and attracting different investors.

Disadvantages-
 The personality and established relationship of business affects the success of company.
 Increase in competition affects future development and growth.
Direct Exporting: The sales are made directly into market by the utilisation of resources. This
type of business is done for increasing the possibilities of success.
Advantages-
 Expansion is cost effective. The main organisation controls services and products in foreign markets.
Disadvantages-
 There is failure if third party is not able to synchronise work.
 It does not help in establish strong consumer base and more efforts needs to be made for
the same.
P5 key arguments in global and local debate
There are various business organisation which are using effective strategies for attaining
business operations in foreign markets. Global business organisations have the opportunity for
increasing the profitability of an organisation as the number of potential customers are more.
Within this business environment, there are requirements of meeting the needs and demands of
customers so that profits and revenue can be generated (Fan, Lau, and Zhao, 2015). Business
organisations working at global level have a wider scope due to the increased market share.
While operating business in international markets, there are several strict regulations and policies
which become challenge for these organisations to conduct business operations in different
foreign countries. On the other hand, while operating business in local market, there is less
competition. Also, there are less opportunities for enhancing the profits and revenue generated
by the company. Market share of local companies as limited and main objective of these
companies is to develop healthy relationships and attaining business goals. In the local
organisations, Employees are provided benefits so that they can help in growth and development
of business. For company to enhance its growth and market share, it is important to to expand in
international markets as there are availability of resources.

The above comparison shows that a business cannot achieve the growth in local market
because of lack of competition.. Tantalum Corporation can formulate effective marketing
strategies in order to started business at international level.
P6 How P’s of marketing differs in various organisation context
 Product - there are several type of goods and products which are sold to clients and
customers. In reference to tantalum corporation, this company is providing auto tech
innovations and other services in cars. This is a a unique concept and it is easy to attract
foreign customers.
 Price - this is defined as the pricing strategy which means estimating the cost or price that
a customer has to pay for product offered by the company. There are various factors on
which pricing strategy of company depends such as willingness to pay, demand of the
product within customers, etc. For initial stage, tantalum corporation will provide its
product and services at lower rates than other companies offering similar services.
 Place - this is defined as location at which business will be operated in in market. These
are physical outlets as well as online web stores. In context of tantalum corporation,
products are sold in local market where there is store of this company. While functioning
in international market of Asia, this company has to open stores.
 Promotion - this is defined as marketing and promoting of products and services for
reaching pool of potential customers. Tantalum corporation will adopt effective
marketing strategies for promoting its products and services in international markets.
TASK 4
P7 Explain and evaluate different international marketing approaches that can be adopted
There are various marketing opportunities which are useful for businesses to sustain in
international markets. Some of the projects which can be used by tantalum corporation are
described below-
Ethnocentric approach- this approach states that main focus of a company while enhancing
the business in international market must be on recruitment process of the company. Skilled
and talented employees must be hired who can work in foreign market and attend the success

which the company needs. By using this approach, tantalum corporation will be benefited
and it will not have to face market challenges while enhancing market share.
Geocentric approach - this is defined as the approach in which main objective of the
company must be on hiring the best talent that can work within the company. It is the main
role of human resource department for hiring the right candidate who will be able to achieve
the organisational goals. In this, there are several decisions of the company related to
mission, vision as well as cause of the company which must be created in headquarter for
hiring right kind of people who can work for the company.
Polycentric approach - this is the approach used by a company e for international
recruitment. the main objective of the company should be development of positive work
culture so that people of foreign countries will be suitable in working within organisation.
Regeocentric approach - as per this approach of international marketing there is need of
appointing the best managers and executive from the domestic company e who will be able
to manage and handle all the work associated with business operations and foreign country.
P8 Compare home and international orientation and ways for assessing competitors
There is competition within market when business operations are carried out. There must be
development of effective strategies and planning in order to attain objectives and goals specified
in an organisation (Singh, 2012). When operating business in local markets, local regulations and
rules associated with culture of that place must be followed in order to have profitable business.
On the other hand, while conducting business in international market there is need of analysing
the marketing strategies that can be used for attracting lot of customers towards the products
offered by company. In reference to tantalum corporation, it is essential that for entering into
Asian markets, they must analyse custom and regulations which are followed in automobile
companies in that country (Michailova, and et. Al., 2017). This company has to follow various
methods and searches for identifying the basic requirements of customers reciting in Asian
markets. The use of modern method is helpful in in adopting the business environment changes
and increasing the profitability of business.

CONCLUSION
From the above report, it has been concluded that international marketing is a new trend
which provides opportunities to business in maximising profits and money earned. It is essential
for the company to have effective strategies for meeting the potential customers. There are
various researches conducted by the organisations before starting any new business in
international markets.

REFERENCES
Books and Journals
Bijaoui, I., 2016. SMEs in an era of globalization: International business and market strategies.
Springer.
Trąpczyński, P. and Wrona, T., 2013. From going international to being international-strategies
for international competitiveness. Poznan University of Economics Review. 13(1).
Yeates, N. ed., 2014. Understanding global social policy. Policy Press.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-
132). Springer, New York, NY.
Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business
intelligence through the lens of marketing mix. Big Data Research. 2(1). pp.28-32.
Singh, M., 2012. Marketing mix of 4P’s for competitive advantage. IOSR Journal of Business
and Management. 3(6). pp.40-45.
Michailova, S., and et. Al., 2017. Rethinking ethnocentrism in international business
research. Global Strategy Journal. 7(4), pp.335-353.