International Marketing: Implications, Approaches, and Recommendations

This presentation provides an overview of international marketing, including the difference between local and international markets, the marketing mix, implications and approaches, international marketing approaches, home and international orientation, recommendations, and conclusion. It also includes a list of references for further reading.

INTERNATIONAL MARKETING

TABLE OF CONTENTS
 Introduction
 Difference between Local and International market
 Marketing mix
 Implications and Approaches
 International Marketing Approaches
 Home and International Orientation
 Recommendations
 Conclusion
 Reference

INTRODUCTION
 Company that is adopted is John Lewis Partnership.
 It is one of the retailers of United Kingdom.
 The company develops single strategy and common
development goals.
 The global expansion terms are said to be strategic and
coherent.

DIFFERENCE BETWEEN LOCAL AND
INTERNATIONAL MARKET
Local marketing
 Production, promotion, distribution, and sale
of goods and services in a local market.
 Low risk factors
 Requires less financial resources
 Deals with only a single market
 Company has same policies and strategies.
International marketing
 Production, promotion, distribution, and sale
of goods and services in international market.
 High risk factors
 Requires more financial resources
 Deals with numerous markets
 Company adopts different policies at times

MARKETING MIX
 Marketing Mix deals with how a business deals with price, product,
distribution and promotion to market and sell the product.
 The 7P formula when visited constituently will allow the business
to work as per the requirements of the customers and the market.
 So the 7P’s of marketing mix are;
Product: The product of the company should be meet the demands
of the customers and satisfy them. The products of John Lewis
Company provides an unparallel range of service to the customers
and makes sure their satisfaction is important.
Place: Choosing in which place the product should be distributed.
John Lewis Company uses multi-channel strategy for the
distribution of their products.
.

Continued......
Price: Price that is set will show how the customer gives value and the place in the market. John
Lewis believes that when the price of the product is fair enough it will draw more customers
Promo: Promo means advertising and marketing about the product. John Lewis used festivals as
sales techniques for the advertisement.
Physical: Providing a proof that the brand actually exists. The stores of John Lewis provides a
decent look, feel and friendly gesture to the customers to give it a physical evidence.
People: For a great brand to occur, right people are important. The John Lewis Organization
have more than 38000 employees who are well trained.
process: It means the steps that are taken to delivery a product. John Lewis has several
processes for the dispatch of the product.

IMPLICATIONS AND APPROACHES
 The main implications in the international marketing is meeting the needs
of the customers.
 It is important for every business to understand or predict what a customer
wants or needs.
 Through this the business can sustain the market and in the competition.
 Whereas approaches means the methods used to create a product that is
liked by the customer and maintain that customer permanently.
 If the customers swing to other companies for the same product there will
be a downfall in the company’s growth.

INTERNATIONAL MARKETING APPROACHES
 For a smart international marketing there are two approaches;
 Centralized Approach: In this approach the main decisions are
made by the marketing team at headquarters.
 And these teams plan and execute all the programs for
marketing
 Decentralized Approach: In this approach, the decisions that
are made pushed into the physical field when there are small
distributors.
 This approach will help in maintain a close working
relationships and will be the key for success.

HOME AND INTERNATIONAL ORIENTATION
 Ethnocentrism which means home country orientation.
 For these type of orientations, demos tic marketing is the
primary task and the overseas marketing is viewed as
secondary task.
 Many small companies enter into this home and international
marketing because of the following factors,
 There is low risk,
 No need of investment and
 No additional Selling Cost.

RECOMMENDATIONS
 There are certain recommendations or measures that are to be
followed to grow in the international or global market. They are;
 It is important for the company to understand what are the needs
of the local markets as per the product.
 For maintaining a good relationship with market it is important
to adopt to the collaborative approach.
 A feedback should be taken from the market so as to setup a
global marketing plan.
 Communication is very important because when in international
marketing it means working with others around the world.

CONCLUSION
.
 Few companies stand still in the competition market, such a companies must truly
understand the needs of the customers to reach growth stage.
 Growth stage means there will be an increase in sales and profit.
 So slowly they enter into higher marketing areas.
 For that, a market research should be done while selecting international market places.

REFERENCES
 Akbari, A. and Ng, L., 2020. International Market Integration: A Survey. Asia‐Pacific
Journal of Financial Studies. 49(2). pp.161-185.
 Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix.
Testing the effectiveness of the commercial marketing mix in a social marketing context.
Journal of Social Marketing.
 Marino, M., Lucas, J., Latour, E. and Heintzman, J.D., 2021. Missing data in primary care
research: importance, implications and approaches. Family Practice.
 Diaconescu, M., 2020. Some considerations regarding the new trends in marketing
approaches. Romanian Economic Journal. 23(77). pp.2-10.