International Marketing: Scope, Concepts, Opportunities and Challenges

International
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Scope and key concepts of international marketing...............................................................1
Main differences between international and local marketing.................................................3
Rationale for willingness to market internationally...............................................................3
Opportunities and challenges associated with international marketing.................................4
Routes to market internationally and recommendation..........................................................5
Key criteria and selection process while entering international market.................................6
Market entry strategies...........................................................................................................7
Application of market evaluation criteria, entry strategies and recommendations................7
Conclusion and Recommendation..........................................................................................8
TASK 2............................................................................................................................................8
COVERED IN PPT................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
International marketing can be referred to procedure of executing principles of marketing
at an international scale. This provides assistance to the organisation in gaining the attention of a
large base of audience. It is aimed at fulfilment of needs and preferences of customers across the
globe. This is a concept which emphasizes upon extension of local marketing strategies as well
as tactics of a company to a global scale.
This project is based upon understanding the concept of local and international marketing
in context of Ma Baker. This is a micro organisation engaged in bakery sector and providing
homemade and natural bread. The report consists of scope and concept of international
marketing, rationale behind organisation marketing globally and routes to market internationally.
Further, it consists of market entry strategies together with their merits and demerits. Lastly,
recommendations are given for the company.
TASK 1
Scope and key concepts of international marketing
As per the thoughts of Czinkota and Ronkainen (2013), international marketing consists
of practices, institutions and activities across the boundaries of home country which seeks to
generate, transmit and exchange products and services holding substantial value for stakeholder
groups as well as society.
According to the ideology of Armstrong and et. al. (2015), it can be determined that
international marketing is the execution of marketing capabilities as well as orientation within
global operations.
In accordance with the views of Akaka, Vargo and Lusch (2013), it is acknowledged
that international marketing is the accumulation of practices that seek to result in an exchange
which satisfies people within geographical boundaries.
Scope
In a general way, international marketing can be referred to as a concept which is linked
with the performance of business in more than one country and it also evaluates how well
products and services of a firm are aligned with customers of more than one nation. In today’s
modern world which is highly dynamic, this concept of international marketing is having a wide
scope which is also enhanced because of increasing globalization in business environment that
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has facilitated better interaction between economies and nations. Further, the scope of
international marketing is explained below:-
Import: This provides one of the easiest and simplest forms of international marketing
where organizations import products from some different countries and sell these items among
potential consumers of its own domestic market. Mainly, use of imports is made by organizations
to enhance their current or existing product line.
Export: Under this process companies mainly export finished or semi finished products
to international market or their related franchises with the perspective of giving them opportunity
or right to make sale of these items or goods in their local or domestic market for enhancing the
quantum of sales. The revenue earned through making exports are utilized by international
organisations to make payments of their imports and also to cover the cost of product
development and lead to increment in profit.
Contractual Agreement- This provides way for expansion of business or operations of
an organisation through entering in a contractual agreement with some overseas partners. When a
organisations plans to expand its business, international marketing aids in this process trough
providing opportunity for enhancing market share, volume of sales, customers base and overall
profitability through providing option of entering into contractual garrets with some international
or global partner.
Fully owned manufacturing- A firm which is having significant interest in foreign
market is having an option of establishing a fully owned manufacturing facility in that country.
The factors like government policies, cost differences, technology enrichment, etc. encourage an
organisation to set up or develop a production unit in abroad with the aim of gaining full control
over manufacturing process and quality.
Joint Venturing- Hereby, two companies can unite to gain access into a potential
marketplace for the purpose of facilitating market expansion. In this case, the investment, gains
and loss are decided in advance in relation to value as well as time frame. A number of times,
this proves to be an effective strategy for corporations to enhance the scope of international
marketing.
Key Concepts
A large number of concepts are linked with international marketing and these are
explained in a brief manner underneath:-
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