ICON College International Marketing Report - BTEC HND Unit 40

This report delves into the realm of international marketing, examining key concepts, strategies, and market entry approaches. It begins by analyzing the scope and core principles of international marketing, including the rationale for expanding businesses internationally, emphasizing the benefits of global market reach. The report then explores various market entry routes, such as licensing, direct exporting, franchising, and joint ventures, evaluating their advantages and disadvantages. The selection criteria for entering a new market are also discussed, considering factors like government policies, competition, and economic conditions. The report further investigates market entry strategies, including joint ventures and direct exporting, while also addressing the global versus local marketing debate and the application of the marketing mix (4Ps) in diverse organizational contexts. It examines international marketing approaches and contrasts international and home orientations. The report uses the Tantalum Corporation as a case study to illustrate these concepts and strategies. The report concludes with an analysis of international marketing strategies, competitor assessment methods, and provides valuable insights for businesses seeking to expand globally.

International Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Analysing scope and key concepts of international marketing..............................................3
P2 rationale for market internationally with explaining various routes for marketing the
organisation..................................................................................................................................4
Task 2...............................................................................................................................................5
P3 Selection and key criteria to use while entering marketplace.................................................5
P4 Different strategies for market entry.......................................................................................6
Task 3...............................................................................................................................................8
P5 Key arguments for global and local debate............................................................................8
P6 P's of Marketing mix in different organisational context.......................................................9
Task 4.............................................................................................................................................11
P7 International marketing approaches that can be adopted......................................................11
P8 Compare International and home orientation and ways in order to assess competitors.......12
Conclusion.....................................................................................................................................13
REFERENCES..............................................................................................................................13

INTRODUCTION
International marketing refers to the marketing in which product and services are sold
internationally. It defined as the conduction of different operational activity in the business from
domestic to internationally. It includes planning, directing, pricing, along with promoting and
selling of product or services to the targeted customer in more than one country. There are many
differences in different countries such as culture, tradition etc (Hewett and Krasnikov, 2016).
which need to be analysed for standing the business in the international market. Such differences
need to be follow to understanding the international market. Organisation makes profit and
money by selling their product or services in different geographical area. Tantalum corporation
has chosen here for this report which is a local organisation. This was founded in yar2014 in
Uxbrige. This report has different scope and key concept which is regarding the International
Marketing.
TASK 1
P1 Analysing scope and key concepts of international marketing
This is said to be the business activity and operation which is performed in such a way
which can help in planning and promoting of the product or services of the organisation.
International marketing is having a wide scope which is discussed further.
International marketing creates friendly relation between nations- There are various
function which is performed in this which includes the production, development, marketing and
manufacturing of the product or services. This makes the both of the country to help each other
which the organisation helps them in creating the employment opportunities and the
infrastructural development in that country and the get in return the profit by selling their product
or services which creates better relationship with each other (Goh, Nguyen and Law, 2017). Due
to employment both of the country people interacts with each other which creates a good
relationship with each other.
Reduced risk of national market with opening opportunities- In the process of
manufacturing the products, it need lots of fund or cost. So, the search operation should be cost
effective so the nation can become the hub of experts.
Import and export- There are many companies who provides different product and
services to the international market. There is the opportunity of exporting these for franchising in

the market within the organisation who are able to sell to localities. It can help in generating the
profit and revenue.
Contractual agreements- When its time to conduct the business outside the domestic
countries, scope for international marketing get widen which help in expending market,
consumer base, profit volume etc.
Joint venturing- In this, there are two business or organisation who come together for
achieving the common goal. Whenever two organisation or business cones in the joint venture, it
gets beneficial for raise in scope for international marketing.
Fully owned manufacturing- In this, the company is having the full focus on the
manufacturing of product which makes them engage. Tantalum organisation should follow this
strategy which can help in selling or exporting the product in different nearby nations. This can
help to inter in the international market.
It can be evaluated from the above mentioned information that there are various entry
options for the chosen organisation in order to implement its project as well as achieve better
results for staff it is also identified that the joint venture import and export policies and contract
agreement are the most suitable which can be adopted by the firm in order to meet the
requirements.
P2 rationale for market internationally with explaining various routes for marketing the
organisation
Rationale for Tantalum Corporation for expanding the business internationally
International marketing refers to the applying the principle of marketing in at-least more
than one country. The main objective for international marketing is to grow the business for high
profit which by selling the products to other country (Felix, Rauschnabel and Hinsch, 2017).
This gives the opportunity to get develop in the technology which can be used by the Tantalum
Corporation. This can be the very profitable for the Tantalum Corporation for getting resources
for long period of time. This can help in increasing the revenue and the profit by selling their
product internationally which creates the competitive advantages and can help in improving the
standard of the country.
Different routes for market internationally

There are various route which can help the Tantalum Corporation to inter in the
international market. Which can help the business unit to start in initial level. Some of the route
for international marketing are discussed further.
Licensing- This is one of the sophisticated arrangement in which company transfer their
rights to manufacture its product on some specified payment. In this, the purchaser has the high
market share.
Direct exporting- This is the way in which the manufacturing department is able to sell
their product direct to the market after evaluating and analysing different resources. For this,
companies organises different sales program for the distributors to represent them in the market.
Tantalum needs to use this way which can help in increasing the productivity as well as the
profitability.
Franchising- This is one of the better way of entering into the foreign market which
expanding business over there. They are having the already established market. In this, the
marketing is having the awareness of their product which helps in selling the product by using
their brand name which gives the larger sales of the product (Bruhn and Schnebelen, 2017).
Tantalum Corporation can also use this but due to using the other brand name, they will not
make their own brand value but can make high profit which is based on their objective for the
international marketing.
Partnership- This can be very useful when entering the international market. This one is
the good idea to get establish in the market. There are number of organisation which can be
chosen for the purpose of partnership which can lead in getting high market share.
Joint ventures- It addresses to form the partnership, in which there is creation or
development of third manages organisation which can he easy for the purpose of business in the
partnership. In this, it follows the rule of one plus one is three. In this venture two companies
works together as one organisation who works together to achiever the organisational goal.
Buying a company- To buy a well established local company can be the best strategy to
get in the international market. Due to having different substantial market share and having all
the machinery and the supply chain this gives a boost to get in the market in less period of time.
It can be evaluated from the above mentioned information that there are various routes of
market which can be adopted by the organisation in order to international rising its process. In
context to this partnership and joint ventures is a best method which can be used by the chosen

organisation falstaff this will help in achieving the objectives as a performing the function in this
criterion in meeting the requirement according to organisational functions.
Task 2
P3 Selection and key criteria to use while entering marketplace
There are various strategies and criteria that can be considered by Tantalum organisation
while they are looking to enter into a new market. Some of these strategies are mentioned below:
Interactional marketing objectives:
Parameters for selection: In order to successfully screen and select a market in which the
organisation will be dealing it is necessary for the management to to decide on certain criteria
according to which the markets will be judged (Yoga and et. al., 2019). These are usually known
as the parameters for evaluation. There are a number of different parameters that can be used by
organisation while they are entering into foreign market. Some of the important parameters to be
considered by Tantalum organisation will include the government policies in market,
competition present in market, resources availability, economic conditions as well as stability of
political circumstances.
Preliminary Screening: The major objective of the following step is to successfully eliminate
various markets that are not fulfilling any of the criteria that are mentioned above. The
parameters are also often different for different products that are sold by the company. It is
necessary that the management of organisation is also keeping some important factors such as
size of population, per capita income, infrastructure of economy into consideration.
Short-listing of markets: With the help of the above steps all the markets that are not meeting
requirement or not fulfilling the criteria are generally eliminated form the list (Wu and Lin
2016). It is necessary that the organisation is successfully short-listing the options that are
available to them. Continuing with too many options at once will make it difficult for the
organisation to successfully enter the market and carry on their work with huge number of
markets at once.
Evaluation and selection: With the help of screening that is conducted on above steps feasibility
study and a cost benefit analysis is conducted. From this the best markets are chosen and product
is then decided to be launched in such markets.

Test Marketing: In this step the products are tested in market in small scale. Feedback is taken
from consumers based on prices, quality and satisfaction that they have gained from the product.
Commercial production: Once the screening of market is completed it is required by the
organisation to make sure that they are continuing with production testing within the new
market. According to testing organisation will make modifications which are required in product
and services in order to start commercial production of products and start selling it.
It can be analysed and evaluated from the above-mentioned information that there are
various international marketing objectives which are used by the organisation. It include primary
screening, parameters for selection, evaluation and selection and various others for staff has to be
meet in accordance with the requirements so that the chosen organisation can perform its
functions and achieve better results.
P4 Different strategies for market entry
There are a number of different strategies that are available to an organisation when they
wish to enter a foreign market. The strategies for market entry is to be analysed well by
management keeping all their benefits and drawbacks into mind (Vătămănescu and et. al., 2017).
A string presence in effective marketing strategies will successfully help the organisation to
maintain good reputation within the market it is entering into. Various strategies that can be
followed by organisation while entering into new foreign markets are:
Joint Ventures: This refers to a partnership business type. In this specific business projects are
conducted between organisations. Two huge organisations come together in it to work together
under similar market conditions and with a similar objective. Tantalum organisation can use this
strategy in order to enter a new market. Below mentioned are benefits and drawbacks of this
strategy:
Benefits: With the help of this strategy Tantalum organisation can successfully gain expert
knowledge in the market. They will also have availability of huge resources in order to easily
survive in foreign markets.
Drawbacks:It is often seen that flexibility of joint ventures in restricted in some industries within
some business situations. Individual businesses have to suffer due to this (Saura and et. al.,
2017). Also conflicts amongst employees arise in such situations due to unequal pay which is
usually based upon involvement and responsibility in employees.

Direct Exporting: In this particular strategy of entering market the organisation is making
direct sales within the new markets. They are using different channels of distribution in order to
enter the market successfully. Companies with good network of distribution find it easy to
pursue this strategy. It is helping in enhancing profitability of business.
Benefits:It is a cost effective way which will help business in expanding and increasing their
business. It is a great method to build consumer interaction which will maintain healthy
relationships with the consumer. Organisation can also control their products and services in
market through it.
Drawbacks: In order to use this strategy organisation requires to effectively make agents in the
market who are also acting as C&F agents for business. Due to this ineffectiveness in business is
seen and business cannot successfully achieve all their goals and objectives.
Buying a company: This is a marketing strategy that a company uses in order to enter the
potential foreign market. They are buying a company within the same industry which can be its
potential competitor. It will help the organisation to successfully determine its true value in the
market.
Benefits: The business operations can be carried out smoothly as there is already set plan and
strategy within the business. The financial history of business is providing the new organisation
with various ideas on how to conduct the business further (Tang and et. al., 2017). The managers
and employees are already trained and experienced to carry out various functions in future.
Drawbacks: There is huge capital required by business in order to carry out this strategy. Often
businesses go out of fund and capital a buy a company. After buying company it is difficult to
make harmony in employees of both the organisation due to difference in culture, values and
believes.
It can be evaluated from the above mentioned information that there are different
strategies of market entry useful to the organisation in relation to this strategy is also include
benefits and drawbacks which has to be managed by the firm in order to meet the requirements
for start it is also evaluate the chosen company can perform its function by using these strategies
and implementing strategies accorded the requirements so that it can achieve better results

Task 3
P5 Key arguments for global and local debate
Marketing plan can be defined as a document that is used by an organisation in order to
successfully carry out a function or activity. When an organisation decided to go international it
is important for organisation to make sure that they are deriving a business plan that will help
them to expand their business internationally. It is required by the organisation to undertake
assessment of all their local as well as global consumers. Tantalum organisation is successfully
supplying a number of new technologies and different features for vehicles. They require to plan
according to foreign market and also keep local consumers into mind (Sadiku-Dushi and et. al.,
2019). Local debate consists of market plan that is made for the consumers that are in the native
country of the business. Whereas a global debate consists of plan that is made for the
international consumers that will be buying products and services of the organisation in the
foreign market.
Global Debate:
 It is necessary that all the business activities and plans are successfully focusing upon
fulfilling the needs and requirements of the consumers who are present in the
international or global markets for business.
 The organisation can successfully enhance productivity as well as profitability through
conducting business globally. There are a number of new opportunities that can be gained
by business when they are entering into a new market.
 Organisation can also take feedback from consumers in international market and develop
various new products and services for the consumers.
 The scope to generate profits in the foreign market is always high when compare to the
local markets. This will also help them to enhance their revenues which is resulting in
increasing profits.
 The policies on which global market are operated are very strict and it is required by
organisation to take proper care of them (Royo-Vela and Hünermund 2016). They are
required to maintain competition in strong imperative market as well.
Local Debate:
 It is necessary that all the strategies are made within business in order to work upon the
existing consumers in the local market.

 The opportunities present in local market are low when compared to the international
market due to huge competition present in such market.
 There are no changing market trends it is required by organisation to focus upon the
relationships they are building with their consumers. It is necessary to make the
consumers loyal towards the organisation.
 The employees who are chosen from local market are successfully helping business to
make sure that they are they are effectively known with market trends and help setup
business in local markets.
With the help of the above comparison it is clear that organisation finds it difficult to
attain growth and expansion in the local market (Olson and et. al., 2018). It is necessary that they
are successfully using various capabilities and skills in order to enhance the growth and
productivity of market. In order to survive in international market organisations require to
prepare strategies which will help them in providing competition in the international market.
Tantalum Corporation can use debate in order to decide on international strategies they want to
prepare while expanding their business successfully.
P6 P's of Marketing mix in different organisational context
Marketing mix refers to different aspects in marketing that are helping organisations to
derive a marketing strategy successfully. It is an excellent strategy that helps organisation to sell
their products successfully in an entirely new market to them. Various elements are designed and
integrated within organisation under this strategy in order to met the requirements of
organisation. Using marketing mix also helps businesses to gain a competitive edge over
competitors in international market. Below mentioned is marketing mix for Tantalum
organisation:
Product: The products and services that are sold by an organisation in order to earn revenue and
profits are considered under it. Tantalum corporation is now dealing in Auto Tech innovations
along with a number of other services in this sector (Nurcholis, L., 2018). Company can
successfully enhance their products and work upon their growth in the international market as
well.
Place: This refers to the location from where the business is operating. Along with this the
distribution network that are used by organisation are also involved in it. Tantalum corporation is
selling all its products in local market due to which it only have limited opportunities. It is

therefore required by the organisation to grow and expand in international business selling
products out of their geographical boundaries.
Price:It refers to the strategy that organisation is using in order to charge prices from their
consumers. It is necessary that organisation is successfully taking into account a number of
factors before deciding on the strategy that organisation wishes to opt for (Ng and et. al., 2016).
The willingness to pay, demand in market, perception, production cost, price of competitors are
various factors that are effecting the pricing strategy. Tantalum organisation can use competitive
pricing while entering into a new market. This will enable organisation to successfully focus
upon the competition in market. They can easily attract consumer's towards them by using the
competitive pricing strategy in international market.
Promotion:It is the strategy that is used by organisation in order to successfully market their
products and services to the potential consumers. There are a number of different channels which
are used by organisation in order to successfully communicate their products and services to the
consumers. Tantalum organisation need to use strategies for promotion which will help them to
enter international market promoting their products to potential consumers.
With the help of all the above mentioned factors organisation can successfully formulate
various strategies in order to successfully work in international market. Regular adjustments
according to international market are required in order to enhance effectiveness of strategies and
achieve all the goals and objectives in Tantalum Corporations. It can be evaluated from the
above mentioned information that the marketing mix can be used by the organisation in order to
meet the requirements and evaluate it functions so that it can achieve better results.
Task 4
P7 International marketing approaches that can be adopted
There are a number of different marketing approaches that can be used by an organisation
in order to successfully enter and earn profits in the international market without facing any
major difficulties. There are various approaches for marketing that can be considered by
Tantalum Corporation such as ethnocentric approach, re geocentric approach, poly centric
approach as well as geo-centric approach. Below mentioned is a discussion conducted on all of
these approaches:

Ethnocentric approach: This is the approach where an organisation is focusing upon enhancing
their recruitment process in the international market successfully (Navruz-Zoda and et. al.,
2016). It is the duty and role of Human resource management in an organisation to look for
various candidates who can meet all the required objectives of business through recruiting
competent staff. In this the ethnocentric approach helps in making sure that the employees from
parent company are given importance. It is also necessary that they are always considered to be
the higher authority in the organisation. They are required to decide about all the visions,
missions, goals and objectives in the business. Tantalum corporations can successfully use this
approach in order to earn a number of benefits from this approach in future.
Geocentric approach: The following approach is used in order to successfully hire the
candidates that are best suited for the certain jobs that are to be conducted within the business.
When talking directly the nationality and origin or employees does not plays an important role in
such business hiring. It is necessary that the employee is equipped with all the talent and skills
required for performing the particular job. A diverse workforce is focused upon in such approach
and truly global companies are using this approach successfully. This is not a suitable approach
for Tantalum organisation.
Poly centric approach: In this approach organisation is successfully using international
recruitment. It is an effective approach through the help of which organisation is hiring
candidates from all over the world who can help in growth and development of the organisation.
Recruitment is conducted by the managers in host country major advantage of using this
approach is that business can successfully get employees from parent company as well as fresh
talent that is already aware about the marketplace (Liang and Nguyen 2018). Due to better
knowledge of the local market organisations are successfully enhancing productivity and
increasing their profits as well.
Re geocentric approach: In this approach the organisation is choosing managers from a number
of different nations. All these are effectively working in their own areas and managing the
international business of organisation successfully. One of the major benefits brought to the
organisation by these approaches are that managers can easily manage the employees as they are
well aware about all the needs and requirements of the local culture. Tantalum corporation can
successfully make use of this approach so that they are getting a manager from the host country

itself. The individuals are also having knowledge about culture and language which helps them
to easily deal with employees and consumers.
P8 Compare International and home orientation and ways in order to assess competitors
It is necessary for the business to make sure that they are evaluating the competition
present in market so that they are effectively carrying out all the required operations in a
business. With the help of this organisation can generate a number of strategies in order to
achieve all the goals and objectives in stipulated time period (Kim and Kim 2018). However
management of foreign markets is a difficult task for a number of businesses. Tantalum
Corporations need to focus upon a number of different legal regulations, business environment
and environmental factors if they are entering into a new market.
The management of foreign markets is difficult due to the changes in external business
environment. Due to lack of knowledge about rules and regulations in new market it is often seen
that new business find it difficult to enter into the market and achieve profits. When taking
Tantalum Corporation into context it is seen that the organisation successfully enter into Asian
market which is a growing market for Auto mobiles. There are a number of modern as well as
traditional methods present for the organisation and both of these can be successfully used in
order to makes sure that business is earning maximum profits through it.
The business is using traditional approach in order to successfully assessing and
identifying all the competitors that are present in the foreign market. Whereas modern
approaches are used in order to make sure that various changes are adapted by business in order
to successfully enhance productivity in business (Khan and et. al., 2016). Together using both of
these techniques successfully business is required to make sure that they are bringing in benefits
for the organisation. This also helps business to understand a number of different threats for
organisation and prepare for it. Businesses can also look into various future opportunities that are
coming their way. In this way Tantalum Corporation can make use of all the political factors for
their maximum benefit. Business can easily work in international market and enhance their
productivity in order to achieve all their goals successfully.
Conclusion
With the help of the above mentioned report it can be clearly concluded that organisation
require to change their strategies and functions effectively in order to deal with changes they are

facing while entering into international market. There are a number of strategies through which
organisations can enter into market. The report also mentions all the benefits and drawbacks of
these strategies using which organisation can enter into these markets. It is necessary to learn
about all the opportunities, challenges and competitors in the market. Organisation can
successfully work in international business using marketing mix that enables them to deal with
competition in new market place.
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