International Marketing Strategies for Putney Pharmaceutical Company

This report provides a comprehensive analysis of international marketing strategies tailored for Putney, a pharmaceutical company. It begins by comparing international and local marketing, outlining the scope and key concepts of international marketing, and then detailing the rationale for Putney's expansion into international markets. The report explores various internet marketing routes, including direct exporting, licensing, franchising, joint ventures, assembly, and strategic alliances. It also provides a detailed evaluation of criteria and selection processes for choosing international markets, along with different market entry strategies. The report further discusses the marketing mix, compares global and local marketing approaches, and analyzes home and international orientation's impact on business operations. The conclusion summarizes the findings and offers recommendations for Putney's international marketing endeavors. The report provides a detailed overview of the content.

INTERNATIONAL
MARKETING

Table of Contents
INTRODUCTION..............................................................................................................1
Comparison of Intentional Marketing and Local Marketing are as under:....................1
Scope and Concepts of International- Marketing for Putney (Pharmaceutical
Company).................................................................................................................... 3
Steps to rationale International Marketing for Putney Company: ................................4
Setting International Marketing Routes for a Putney company :..................................5
Routes of Internet marketing which company should follow are as under: .................5
Evaluation of criteria and selection process to be used by the company while
choosing the international market to be entered by the company................................6
Different market entry strategies..................................................................................8
A variety of strategies are available through which company can enter into
international market. Also, selecting the best strategy can enable the company in
maximising its organisational strengths and efficiency.................................................8
Following strategies are available for companies who wants to enter into new
market:......................................................................................................................... 8
Conclusion and recommendation about how and why the company should enter into
an international market...............................................................................................11
Difference between global marketing and local marketing.........................................12
An overview regarding key arguments of global and local market.............................13
Investigation about how product, place, pricing, and promotional distribution differs in
various international context...................................................................................... 13
Analysis of various international marketing approaches ...........................................14
Comparison of home and international orientation and ways to access competitors,
their outline and implication of each approaches.......................................................15
Home orientation refers to position of the company in local market. And, international
orientation refers to position of a company at international level. Home and
international orientation can effect the companies outline in following ways:.............15
conclusion...................................................................................................................... 15
REFERENCES...............................................................................................................17

INTRODUCTION
In simple words, International marketing refers to doing business internationally
or beyond the national geographical limits. International marketing refers to conducting
the business in more than one country. Putney is a local company of UK. It is a
pharmaceutical company which is engaged in manufacturing medicines for pets. This
assignment will analyse the scope and key concepts of international marketing along
with various routes through which company can enter into an international market. This
study will also explain the criteria for selecting the best international market in which
company can enter with the explanation about entry strategy, discuss the various
modes of entry for the purpose of an effective entry into a new market. The assignment
will provide discussion about marketing mix strategies, various marketing approaches
that can be followed by the companies. This study will also give a comparision of global
and local market along with home and international orientation's impact over the
business operations of company.
Comparison of Intentional Marketing and Local Marketing are as under:
Basis of differentiations Local-Marketing International-Marketing
 Meaning
 Business Operation
Local marketing stats that
those market which is
available within the
geographical boundaries of
the nation, it covers small
area. The Putney is
pharmaceutical company
which is using traditional
marketing sources, due to
having small company in a
local
region(Alsarayreh,2017).
Recently the company
International marketing
stand for the global market
operations which extend
over the geographical limits
of the countries. Hence, it is
having broad level market
by various sources of
internet large companies
are based on that market.
International-Marketing is
having broad concept due
to having the largest chain

 Risk Factor
 Research Analysis
 Source of Marketing
Putney is running its
business in a single
country, because of
following traditional
marketing concept but now
it is trying to expand their
business through Internet
marketing to capture global
market.
It involves little risk due to
capturing domestic market
& having less competitive
firms.
It required less capital with
limited technology. The
government influences are
not impacting due to
domestic nature.
Local-market does not
require very high research
because the company is
aware by the domestic
market and their nature &
preferences of customers
are remained same.
In Local marketing the
company is depends upon
with global market
operations. It is having large
market of various
companies with heavy
competition, due to dealing
with more than one country.
The International Marketing
for Putney company
consisting tough
competition due to existing
relevant competitive firms
are available at
International market.
Hence, it involves huge risk
and appropriate capital by
using the latest technology.
Through Intetnational
marketing it may require
deep study and research
due to having variation in
customers by their
preferences, and having
less knowledge of foreign
market
In International marketing
there are many sources of
web marketing such as:
E-Mail marketing, search

on traditional approaches
like:
Direct mailing letters & files,
to their targeted clients,
creates brochures, print,
local media, Broadcast,
referral and depends on
pharmacist etc.
engine marketing or
Optimisation (SEM and
SEO)
Display advertising by
various links, pay per click,
social media marketing,
websites etc.
Scope and Concepts of International- Marketing for Putney (Pharmaceutical Company)
 Marketing Influences: In today's world there is a need, to influence people for
recognise healthcare benefits and veterinary products for their pets, such as
ciprofloxacin flavoured tablets for use in dogs and cats to manage diseases
associated with bacteria and provide treatments of skin infections. Hence, with
the use of company websites they can be introducing about their company
throughout various information(Astuti, Silalahi. and Wijaya, 2015).
 Regulating Continuous Process: The International-Marketing is helps continue
to develop and establishing strategies for moving towards growth or success for
selling their products by using techniques of online marketing. Currently many
brands are practising to growing their business through online marketing
strategy. Thus, Putney company initially promoting online image for its veterinary
products of pets.
 Integrating Overall Social Media: The company should stop investing on
content marketing or traditional techniques and accept investing on social
marketing which is growing da by day. By the use of social networking sites it is
possible to interact with their clients and find their queries, problems related with
the nature of product and to take corrective action by resolving their complains.
That is why social media is playing important role for developing international
marketing channels by sharing & caring. These are YouTube, Facebook, Twitter,
LinkedIn, Instagram, Pinterest etc.

 Expanding through Digital-marketing: It is cost efficient techniques by fewer
efforts. There are easy methods to recording data and results through google
analytical and insight tools offering by social media channels. So company
should try to expanding its business activities with brand development by getting
real time results. Today, at global market operations, people are engaged and
getting connected to the internet that is why they are ready to trade through it
with their flexibility(Bahl. and Chandra, 2018).
Rationale for International Marketing for Putney Company
The rationale for international marketing for Putney company is achieving growth
and attaining competitive advantage. The motive behind international marketing is to
target foreign customers by successful marketing campaign for creating awareness
regarding product or services to the right people at the right time. For achieveing this
motive the firm will focus on market research and market planning should be
considering for targeted their clients by the selection of various internet marketing
channels.
Apart from this, size of market is another reason of marketing across
international boundaries to be determine geographical proximity and demographic
environment for products & services of Putney (Hamzah. and Sutanto, 2016).
International marketing will helps company in checking trends & working culture of
people according to their region. Thus, the reason behind international marketing is to
create awareness, increase demand and attain competitive advantage for existing
products and services of business.
Setting International Marketing Routes for a Putney company :
The company should follow various routes of internet marketing by the nature of
market and their availability with the purpose of easy accessibility or flexible changes.
The company is based on pharmaceutical medicines or health care industry thus, it
takes a series of decisions through certain process of international marketing. The
International marketing routes are setting on the basis of organisational objectives,
present and future opportunities, domestic and international opportunities, resources
and strength of the Putney company(Fernandes, 2018).

Routes of Internet marketing which company should follow are as under:
 Direct Exporting: It refers selling goods domestically in another country without
any marketing production or organisation overseas. It is divided into two parts
first one is direct exporting which stats selling their product without involving
middlemen just like online marketing, and in second case indirect exporting, a
company sells its products in abroad through middlemen or an agent.
 Licensing: It indicates an international company allow trading to business firm
(licensor) to foreign company (licensee) for manufacturing their products for sale
in the licensee's country or in their other specified market.
 Franchising: Franchising is stand for the power of brand, it is a special form of
licensing for growing international business where each company franchiser
grants another independent company franchisee to do its franchiser's business in
a prescribed manner(Helm. and Gritsch, 2014).
 Joint venture: It is an enterprise formed with foreign countries by their
international business company sharing ownership and controlling with a local
company in that country.
 Assembly: Under this route, an international firm producing most of the
components or ingredients in one or more countries with the strategy of carry out
the labour intensive assembling in the abroad where labours are cheap and
abundant. Hence, the company can follow such route for developing their
international business to run out smoothly.
 Strategic Alliance: Under such strategic alliance, two or more competitive firms
pooling their resources in a collaborating to leverage their critical situations for
conman gain. This is route is also helpful for company to adapting such source
for internet marketing because it there is a new entity may be formed( Hume and
Hume, 2015).
By the given routes the company Putney can developing its international
marketing by taking international support. Company follows joint venture route for the
purpose of entering into the international market. As, this rout enables the company to
perform its business activities with an experienced domestic company which helps the

company in taking effective decisions for the company for its better growth in the
international market.
Evaluation of criteria and selection process to be used by the company while choosing
the international market to be entered by the company.
As Putney wants to enter into an international market, company needs to
consider many factors that may influence the business of the company in international
market. These factor should be consider by the company before taking decision about
in which country the business should be expand in order to get maximum profitability.
Following criteria should be taken into account by the company:
 Company's goal: Putney needs to decide its overall objectives first before
entering into new market in order to make strategies regarding international
marketing accordingly.
 Product and services: business of every company majorly depends upon what
kind of product is producing by the company. Putney should choose that market
in which it thinks it may sell the maximum amount of products.
 Competition: it is the major criteria to be consider. The amount of competition
influences the profitability and market share of the company. The company
should select that market in which there is high probability of gaining profit and
also selling a greater amount of pet medicines in the market.
 Investment: investment in the market differs from market to market. Putney
should evaluate the amount of investment of different country's market first and
after analysing all the investments, it should decide to enter in that market which
fit perfectly to its capacity.
 Risk: Putney needs to evaluate the level of risk it can beer for international
marketing purpose. After comparing it with the risk of market in which company
wants to enter, it should take decision whether company should enter in that
market or not
after analysing all these factors, Putney needs to follow the following selection process:
1. Determination of objectives: First and foremost Putney needs to determine its
organisational objective. The selected international market should be that which
can enable the company to achieve its organisational objectives.

2. Selection parameters: different parameters like, firm's resources, international
environment, nature of competition, etc. all these parameters of Putney should
be based on the product manufactured by the company i.e. pet medicines. They
must be lay down by Putney before selecting international market in order to
select the best market for the company.
3. Preliminary screening: this step is to be done by Putney in order to eliminate
those markets which will not be potential for the company. The screening needs
to be performed as per the set parameters by the company in earlier step.
4. Short listing of markets: after preliminary screening Putney needs to short list
all the markets which can help the company to achieve its international market
objectives and suites to its set parameters as well.
5. Evaluation and selection: Putney needs to evaluate all the short listed markets
with its objectives, goals, parameters etc. and select the best suitable market for
international marketing.
Through above stated process, Putney can be enable to select best market for
international marketing in order to maximise its profitability and market share as well.
Different market entry strategies
A variety of strategies are available through which company can enter into
international market. Also, selecting the best strategy can enable the company in
maximising its organisational strengths and efficiency.
Following strategies are available for companies who wants to enter into new market:
Direct exporting
This strategy allows the company to directly sale its product into international
market through agents and distributors. They work as representative of the company
who sale company's product into the market.
Advantages
 Agents become the face of company. It enables the company in selling its
product and reaching maximum amount of customers. This is a cost effective strategy as company need not to establish an office for
selling its product.
Disadvantages

 In case company fails to select the best agent for selling its product, it may lead
to beer a huge loss by the company.
Licensing
This strategy can be a little complex comparing to other strategies. As in this
strategy, company allows another company to use its intellectual properties for the
purpose of performing its business internationally in exchange for a set payment. Before
providing licence to another company, licensor company needs to provide a detailed
description about to what extent the licence can be used, consequences of wrong use
of licence, company needs to limit a control over the licence(Kyriakopoulos, Hughes.
and Hughes, 2016).
Advantages
 If the company selects a company for selling its license which already have a
large market share, it may enhance the probability of selling large amount of
product into international market.
 The company adopting this strategy needs to make a low capital investment for
international business. This strategy includes a low level of risk with it.
Disadvantage
 Every country has their own intellectual property laws. Company needs to follow
all the laws before selling these properties to another company. In case of any wrong use of the licence by the licensee, and licensor do not
provide description about the consequences of it, the company may has to beer
a huge loss or even penalties in case of any unlawful use.
Franchising
It is a typical strategy which provides the company a rapid international
expansion. Strong business unites like dominoes, blackberry, being human etc. Uses
this strategy in order to expand their business internationally. Franchising helps those
companies who have single business model. For example dominoes performs its
international business through franchising. It has opened various franchises in all over
the world. This strategy is useful for the well known brands only.
Advantages

 It helps the company in rapidly growing internationally. Franchises can be the best strategy for international expansion as it enhances
the probability of gaining profit.
Disadvantage In case, a company not having a well known brand, uses this strategy, it may fail
in international business performance. As customer may not attract more towards
the brand.
Joint venture
Joint venture is kind of partnership in which two companies come together and
create a third party which works independently. Risk and profit sharing are being
decided in advance by the companies. Putney is using this strategy for its international
business expansion. For this purpose, company has created a joint venture with a
domestic company of that market. It helps the company in performing the business
activities more efficiently by using the domestic company's experience in the market.
Advantages
 It helps the companies in reducing the risk of business in international market. It makes the company to take maximum advantage of the experience of
domestic. company in the market for the purpose of its efficient working.
Disadvantage
 In this strategy company needs to share its profit earned from the international
market with the another joint venture company. It reduces the total earning of the
company.
By using any of the above strategy, companies can enter into a new market
globally. Company should select the strategy only after analysing advantages and
disadvantages of all the strategies and should select the best strategy for the company
as it thinks fit.

Conclusion and recommendation about how and why the company should enter into an
international market
As per the above study, Putney should enter into international market as it
provides the company in enhancing its profitability as well as market share. International
marketing helps the company growing its market without taking care about geographical
limits. It provides the company an opportunity to extend its business globally and attract
maximum amount of customers towards the product of the company.
As the company is working for pet pharmaceutical production, before entering
into an international market, company needs to evaluate and analyse many factors like
competition in the market, consumer behaviour regarding the pet medicines in the
market, political environment of the country, and all other factors that may influence the
business operation of the company in international market.
Also, Putney needs to analyse all the modes of entry into an international market
like partnership, licensing, joint venture, franchise, etc. along with their advantages,
disadvantages, and impact over the business operations on international level. Joint
Illustration 1: International marketing
source:(what is international marketing- definition and factors.2017)