Global vs Local: International Marketing Strategies and Approaches

This report provides a comprehensive analysis of international marketing strategies, focusing on the debate between global and local approaches. It investigates how product, pricing, promotion, and distribution differ across various international contexts, with specific examples related to Marks and Spencer. The report evaluates the circumstances under which businesses should adopt global or local strategies, details the marketing mix of selected organizations in international markets, and critically evaluates how the marketing mix is applied in diverse international contexts. Furthermore, it explains various international marketing approaches, compares home and international orientations, and assesses competitors, outlining the implications of each approach. The report concludes with recommendations on how organizations should structure themselves to maximize opportunities in international markets and references relevant academic sources.

INTERNATIONAL MARKETING
PART 2

TABLE OF CONTENTS
 Introduction
 Overview Of Key Arguments In Global Vs Local Debate
 Investigate How Product, Pricing, Promotional And Distribution Approach Differs In Variety Of International Context
 Evaluation Of Context And Circumstances In Which Business Should Adopt A Global Or Local Approach
 Determine And Articulate In Detail How The Marketing Mix Of Selected Organization In International Markets
 Critical Evaluation Of How The Marketing Mix Is Applied To A Range Of International Contexts
 Explain And Analyse The Various International Marketing Approaches Organization Can Adopt
 Comparison Home And International Orientation And Ways To Assess Competitors Outlining The Implications Of Each Approach
 Evaluation Of Various Marketing Approaches And Competitor Analysis In Relation To Organization And Recommendations On
How They Should Operate In International Context
 Recommendations On How Organization Must Be Structures To Maximize Opportunity In Organizational Context
 Conclusion
 References

INTRODUCTION
International marketing also supports business time to take
advantage of overseas market and opportunities which increasing
the share price of organization turn also office opportunity of
increasing customer base. Marks and Spencer is a British
multinational retailer which was founded by Michael Marks and
Thomas Spencer in Leeds in 1884.

OVERVIEW OF KEY ARGUMENTS IN GLOBAL VS
LOCAL DEBATE
 Globalization has taken place increasingly and many firms are now attempting to operate on a global basis. The
main problem of international marketing is to establish a choice between similar commodities across all borders
while employing local market strategies to help adjust to regional differences.
 Local values may be incorporated into global products, resulting in a better reputation for services and products.
 At the local and international levels, the company's behaviour might be affected in a variety of ways. The local
market can influence a customer's purchasing behaviour through motivation, attitudes, and religion. On the other
hand, customer purchasing pattern can be manipulated be impacted by phycological, personal, social and cultural
factors at global scale.

INVESTIGATE HOW PRODUCT, PRICING, PROMOTIONAL AND
DISTRIBUTION APPROACH DIFFERS IN VARIETY OF INTERNATIONAL
CONTEXT
 Product- Product is an item which is manufactured with the objective of meeting customer demand. The culture
and tradition pen every country differ from each other which is the reason of change in consumer trends and
purchasing behaviour an international context.
 Price- This marketing factor depends on consumer buying behaviour which totally relies on the income level and
disposable income off people of selected country. For example, the population of US and Canada have higher
income and disposable income which increases the spending potential of consumers.

CONTD.
 Promotion- Promotional strategies used by an organization is differently used
from country to country. Due to advancement in technology digital marketing has
strengthened the position in many developing countries. Mass media marketing
and digital technology of promotional marketing is also used in countries to
promote products and services into target customers.
 Distribution- and this is another an important factor of marketing mix.
Distribution relies on the type of product demanded by the customers of the
country. Many customers rely on purchasing products form stores physically
which is more feasible for them to select the right product as per their preference.

EVALUATION OF CONTEXT AND CIRCUMSTANCES IN WHICH
BUSINESS SHOULD ADOPT A GLOBAL OR LOCAL APPROACH
Some of the situations in which an organization must adopt global or local approach and in context of Marks and
Spencer has been discussed below:
 Increased communication
 Technological advancements

DETERMINE AND ARTICULATE IN DETAIL HOW THE MARKETING MIX OF SELECTED
ORGANIZATION IN INTERNATIONAL MARKETS
 Price- The prices of Mark & Spencer's items are determined by the customer's financial status. This allows them
to advertise their company through word of mouth and direct interaction with customers.
 Place- Mark & Spencer examine the area before extending their business. Place is an important marketing mix
factor that marketers consider.

CONTD.
 Product- Products can be manufactured in response to customer requests and
preferences by a global corporate firm. People in different parts of the world
choose different products as per their preferers.
 Promotion- From one country to the next, and from one culture to the next,
promotional techniques are different. Customers are lured to promotional events
by nature, but they should never be annoyed by them.

CRITICAL EVALUATION OF HOW THE MARKETING MIX IS
APPLIED TO A RANGE OF INTERNATIONAL CONTEXTS
In an international context, the marketing mix may be applied in a variety of ways. The application of marketing mix
has been discussed below:
 This tool may be used by international marketers to build their product ranges by studying and analysing the
product ranges of their rivals.
 International marketers might design pricing strategies by researching and evaluating pricing strategies produced
by competitors.

EXPLAIN AND ANALYSE THE VARIOUS INTERNATIONAL MARKETING APPROACHES
ORGANIZATION CAN ADOPT
Licensing- Licensing is a contract in which a licensor permits a foreign firm to use its intellectual property.
Some of the other structures which can be adopted by business are-
Initial
Division
structure
Franchising
Global
product
division
Global
functional
division
Mixed
matrix
Strategic
alliance
Joint
venture

COMPARISON HOME AND INTERNATIONAL ORIENTATION AND WAYS TO ASSESS COMPETITORS
OUTLINING THE IMPLICATIONS OF EACH APPROACH
HOME ORIENTATION INTERNATIONAL ORIENTATION
Home orientation refers to the marketing system
used within a country's borders and boundaries.
This sort of marketing is referred to as domestic
marketing.
A marketing plan is created for exporting
commodities to every country in the world.
The focus of this marketing approach is on a small
geographic area.
International marketing includes a wide range of
countries, counties, and states from across the
globe.
The fundamental for home orientation is a single
nation.
Many countries act as part of an overall strategy to
international understanding.
Evaluating competitors- Marks and Spencer objective is to identify opponents in the overseas market. This study
will assist Marks & Spencer in identifying variations in the competitors approaches to attracting customer attention
to their offerings.