International Marketing: Key Trends, Strategies, and Tesco Analysis

This report delves into the realm of international marketing, examining the strategies employed by multinational corporations (MNCs) to navigate the complexities of a globalized market. It begins with an overview of the challenges and opportunities presented by international expansion, emphasizing the need for tailored marketing approaches. The report then explores key trends impacting international marketing, including the influence of social-cultural factors, economic conditions, government policies, and technological advancements. A significant portion of the report focuses on a case study of Tesco, analyzing its market entry strategies and the application of Porter's generic strategies to gain a competitive edge. The report concludes by highlighting the importance of adapting marketing strategies to specific market conditions for achieving sustainable growth and maximizing market share. The report utilizes academic sources and journals to support the analysis.

International
Marketing

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
ASSESSEMENT 1..........................................................................................................................3
Section 1......................................................................................................................................3
Section 2......................................................................................................................................4
Section 3......................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Due to digitalisation and innovation in technologies most of the organisation are expand
their business globally in order to cater needs and demand of each individual and earn maximum
profit margin. Therefore they have to formulate international marketing strategies in order to
influence various individual to make purchased of firms products and services so that overall
objectives can be achieved. There are various challenges that are faced by globally operating in
terms of formulating product, pricing, and distribution and communication strategies. This report
is about international marketing and consumer behaviour such as various key trends that impact
operation of MNC’s. It critically evaluates market focus, products and services and development
of various strategy of TESCO that helps in expansion of business.
ASSESSEMENT 1
Section 1
As stated by (Schellenberg, Harker and Jafari, 2018) standardisation refers to setting steps,
procedure that need to be followed by each individual while performing task so specific outcome
can be gained and objectives of organisation can be gained. On the other hand adaptation means
that companies need to adapt to various external changes of environment in order to grow and
sustain in competitive market condition. organisations for international marketing have to
evaluate various key trends that impact or influenced operation or strategies of firm so that best
outcome can be gained. Therefore various key trends that impact companies are social –culture,
economic condition, policies and legal laws made by various government of different countries
or technological changes.
As per view of (Baker and Saren, 2016) Different countries have different social- culture
and tradition so companies in order to attract individual that live in particular society have to
understand their requirement and preference. In other term marketing manager need to frame
marketing strategies as per recent trends in customers so that they can be easily motivated to
make purchased for growth of firm. Such as most of the people spend their time in playing
games and watching video on different social media sites such as Facebook, Twitter so
organisation have planned to use such medium to attract numerous individual. It have helped in
decreasing overall cost of company and effectively increasing awareness among customers by
providing them necessary information about company and its products and services. Therefore it
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can be stated that technological changes and increase in awareness among customers about
various innovative techniques have adversely affected international marketing strategy.
As noted by (Cherunilam, 2020) company while entering into new markets have to
understand or considered legal policies, rules and regulation that are made by government for
smooth operation of business and effective growth of firm. Government changes its policies and
procedure as per external factors in order to protect local communities or supplier such as put
some restriction in form of tariff and tax while import and export of products and services.
Various some country government such as UK have make free trade regulation to encourage
export and import for economy development and growth of enterprise. Therefore as per
Cherunilam, companies while formulating international products and services or communication
strategies have to understand policies so that firm can easily expand its market share and gain
competitive advantages. Another factor that impact on marketing strategies is economic
condition of particular country such as disposable income of customers, level of education and
interest rate. Company need to set its prices as per income level of individual so that they can be
motivated to make purchased and objectives of organisation can be attained. Education level
also affect marketing strategies of firm as highly educated people prefer products and services
that are of high quality so company need to provide information regarding content of products
and brand image of enterprise. Therefore it can be stated that all economic condition and policies
of government need to be considered by organisation at time of expansion of business in new
market.
Section 2
Walmart is planning to enter into UK in order to earn more profitability and market share
therefore it need to planned different strategies to sustain in new market condition. Porter generic
force model can be used to analysis various strategies that can be used by firm to cover new
target market segment for earning profitability. Differentiate strategy is used by Walmart to
influence various individual and gain competitive positioning in international market for long
term growth and success of enterprise (Rust, 2019). Therefore, it can be stated that there are four
strategies that can be used by enterprise while operating internationally such as:
Cost leadership: It is type of strategy in which company plans to market its products and
services by reducing its cost to maximum so that large number of customers can be attracted to
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select specific company for satisfaction of their needs and requirements. Walmart marketing
manager by brining economic of scale and training employees about the method to reduce
wastage is able to provide maximum benefits to customers. It can easily informed people that it
offer qualitative product and services due to economic of scale and optimum utilisation of
resources in order to retained customers satisfaction.
Differentiate leadership: It is another strategy that is used by Walmart to gain competitive
advantages in retail industry. Company have used different techniques to manufacture and
deliver of products and services to end user so that their requirements can be fulfilled beyond
their expectancy. Strong brand image and product differentiate have contributed in effective
growth and success of enterprise in various international market (Meyer and Peng, 2016).
Walmart have use of online medium to market its products and services at the same time have
provided 24 hours services to customers so that their problem and grievance can be effectively
satisfied. It have make sure that its use innovative and differentiate technologies so that
customers can be provided well experienced and company can expand.
Focused cost: Firm can also make used of focus cost strategy to market its products and services
in international market but it have limited scope as cost of products are reduce for target or few
individual (Christopher, 2016). Walmart marketing manager have avoided such types of strategy
as it helps in adding of limited new customers thus company is not able to get maximum rate of
return form such strategies. Company can reduce price to attract middle class people to make
purchased so that sales volume and profitability of organisation can be increased.
Focused differentiation: It is last strategies that are used by organisations that want to
differentiate products and services for focused or target market thus firm can earn limited market
share. Walmart by differentiate its technology or products and services for few individual in
international market can earn more profitability and market share (Hirshberg and Shoham, 2017).
But it has limited scope of expansion so manager has make modification in their marketing
strategies as per needs and preference of such individual so that organisation can sustain its
business for long period of time.
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Section 3
CONCLUSION
It can be concluded from above report that various key trends or external factors that effects
organisation marketing strategies that need to be effective understand by manager so that
company can removed various challenges of international marketing. Different country have
different policies, social culture, technological trends and economic condition so company while
planning strategies have to effective understand them to get best outcomes. At last it can be
concluded that Porter generic force is best model that can be used by enterprise to make various
international marketing strategies so that it can earn maximum market share.
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REFERENCES
Books and Journals
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Cherunilam, F., 2020. International business. PHI Learning Pvt. Ltd..
Christopher, M., 2016. Marketing: an introductory text. Macmillan International Higher
Education.
Hirshberg, R. S. and Shoham, A., 2017. A behavioral model of international channel
relationships. Journal of Business-to-Business Marketing, 24(4). pp.257-282.
Meyer, K. and Peng, M. W., 2016. International business. Cengage Learning.
Rust, R. T., 2019. The future of marketing. International Journal of Research in Marketing.
Schellenberg, M., Harker, M. J. and Jafari, A., 2018. International market entry mode–a
systematic literature review. Journal of Strategic Marketing, 26(7). pp.601-627.
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