International Marketing Report: Approaches, Strategies, and Analysis

This report delves into the realm of international marketing, providing an overview of different approaches and strategies. It explores the concept of polycentrism, ethnocentrism, and geocentrism as key international recruitment methods. The report also compares home and international market orientation, emphasizing the influence of globalization, technological advancements, and the internet on international market opportunities. It highlights the importance of market analysis for making informed business decisions and mentions various foreign marketing approaches. References from academic journals are included to support the analysis. The report is designed to offer insights into international marketing and its impact on business operations.

INTERNATIONAL
MARKETING

P7 International marketing approach that
organization can adopt
• International Marketing termed out as the act of business activities that is mainly designed to design,
value, encourage, and direct the flow of a business’s goods and services to consumers or users in more
than one state for a profit. Thus, approaches to international marketing are outlined as-:
• Polycentrism- It is termed out as the international recruitment method in which HR can recruits the
personnel for the international business.
• Under this, the nationals of host country mainly get recruited for managerial positions to carry
operational activities for subsidiary firms.

CONT..
• Ethnocentrism- This is one of the method of international recruitment in which HR recruits the right
person for the right job for undertaking international business activities.
• Henceforth, this can be stated that Ethnocentrism in marketing termed out as the preference of products
from one's own home country rather than purchasing items from other countries.
• Geocentrism- This is termed out as geocentric which can be termed out as firm management looks at
opportunities on a global scale.
• They do not put focus on the way that business gets done in a given country this aids to represent that
how to conduct business anywhere in the world, based on common ways of communicating.

P8 Compare home and international market orientation
• International marketing is termed out as the process of good and services in the international
environment and application of marketing principle that aids to fulfil the individual and organisation
objective in more than one country.
• Thus, it can be stated that globalisation, technological advancement and availability of internet creates
wide range of opportunities to enter into international market to maximise the profit and also enhance
brand image of an enterprise.
• This is inclusive of the uncertainty risk, challenges and huge level of competition so that the marketers
must take steps towards to analyse the international market for taking the key business decision.

CONT..
• Henceforth, this can be stated that there are number of the foreign marketing approaches that is mainly
depends over the components such as domestic countries, need of the commodities, suitability of the
commodities as per the requirement in foreign market, production capacity that aids to meet out the
needs and wants of the foreign markets.
• Moreover, this can be stated that there are many of the non-active direct foreign marketing, occasional
foreign marketing, day-to-day foreign marketing, international marketing or multinational marketing
and global marketing.

REFERENCES
• Zhu, Z., Zhao, J. and Bush, A.A., 2020. The effects of e-business processes in supply chain operations:
Process component and value creation mechanisms. International Journal of Information
Management, 50, pp.273-285.
• Johanson, J.E., 2019. Strategic Design. In Strategy Formation and Policy Making in Government (pp.
101-119). Palgrave Macmillan, Cham.

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