International Marketing Strategies for Tantalum Corporation Report

This report delves into the realm of international marketing, focusing on strategies for Tantalum Corporation, a UK-based company specializing in connected vehicle strategies. The report explores the scope of international marketing, highlighting its benefits such as minimizing risks and opening up new opportunities through various approaches like imports, exports, contractual agreements, joint ventures, and fully owned manufacturing. It then provides a rationale for Tantalum Corporation's international market entry, emphasizing profit potential and competitive advantages. Furthermore, the report examines diverse market entry routes, including direct exporting, licensing, franchising, partnering, joint ventures, and buying a company, while also analyzing the opportunities and challenges associated with international marketing. The report also discusses international marketing objectives, parameters for market selection, preliminary screening, shortlisting, evaluation, test marketing, and commercial production. Finally, it examines market entry strategies such as joint ventures and buying a company, providing their advantages and disadvantages for Tantalum Corporation.

International
marketing

INTRODUCTION
International marketing is known as a process related to how business activities are being
performed, designed for planning, pricing, directing and promoting the flow of goods & services
from companies to consumers or users in many countries for gaining profit. Marketing objective
is same for local and international operations of the company. Each country possess their own
marketing traditions, mannerisms and culture and for expanding business globally business
organisation must get families with the environment to get success. Through globalisation of
business international brand image is created and helps organisations to expand (Akaka, Vargo,
and Lusch, 2013). Companies are able to make more money by selling services and products in
geographies which have demand for them. There are various challenges for companies which are
trying to expand themselves in foreign countries. Local company of UK chosen in this report is
Tantalum Corporation. This organisation makes connected vehicle strategies that helps people to
benefit from a comprehensive connected care ecosystem. This company is situated in Uxbridge,
UK and was founded in year 2014. This report will help in knowing about various ways by
which this company can operate internationally. It explains different approaches of international
marketing.
TASK 1
P1
This is related to business performance operations and activities that are designed for
planning and promoting flow of the company's services and goods. The scope of international
marketing means importance of operating business at global level. The scope of international
marketing is discussed below: -
International marketing leads to peace among nations – Business include various
activities like production, development, marketing and when dealing with high technology
products, it involves people across the world who come together for working. The functioning of
international companies enables employee interaction where people form different companies
come together to meet for both commerce and recreation (Berthon, and et. al., 2012). In context
of Tantalum corporation, it is seen that this company can deploying different functions of
business across world.

International markets minimises risk and open various opportunities – The
manufacturing of product costs a lot to the company. This operation must be cost effective when
nation becomes hub of all exports. When Tantalum corporation will operate in different
countries, then it enables this to have opportunity of importing and exporting various automotive
parts.
Imports – This is an easy type of international marketing. This includes importing of
products or services from other country to domestic country. This is possible when there is
demand in the domestic market which is of imported services or products. Different companies
can localise imported products on the basis of need of market. Tantalum corporation can import
advanced technology engines, auto parts for enhancing their services.
Export – Organisations can export their products to foreign markets. They can also
export these to franchisees in far markets where they are able to sale of products to various
localities in order to generate profits and revenue.
Contractual agreements – When business move across global boundaries, the scope of
international marketing increases opportunity of doing business. This expands market, consumer
base, volumes and profits. Tantalum corporation can grow exponentially by getting involving
into contractual agreements with other various overseas partners.
Joint Venturing – This is called as two organisation which come together for working.
Profit, loss or investment are pre decided in case of both time period and value. Entering into a
joint venture can be beneficial for raising overall scope of international marketing (Bertoli,
2013). Tantalum corporation as a local partner can be very helpful in business. This will help in
understanding marketing dynamics.
Fully owned manufacturing – Organisations can own a fully owned manufacturing in
country where there is high level of engagement. Tantalum corporation can use this facility for
selling products in the country or exporting them to nearby nations. This helps in controlling
quality.
P2
Rationale for Tantalum corporation to market internationally
International marketing is known as application of principles of marketing to more than
one country. This is doing marketing activities in many countries that is outside domestic
operational base of the firm. It is beneficial for Tantalum corporation to do business in foreign

countries as this will help in making more profits and money (Cavusgil, and Cavusgil, 2012).
International marketing can be very profitable for Tantalum corporation and it requires long term
commitment of resources. This company can grow revenue and profits by selling products and
services abroad. This creates competitive advantage and improves living standards of
international countries.
Various routes for market internationally
There are different routes which organisations chose for international marketing. These
makes it easy for different companies to start business in foreign markets. Some of the ways of
marketing internationally are mentioned below-
Direct exporting - This is referred as selling directly in market that is chosen by
company after analysing the availability of resources. Sales program is organised by the
companies for distributors to represent it in market. Distributors or agents represent company in
other markets. Tantalum corporation can use this kind of route for entering into foreign market.
Licensing - This is an arrangement in which a firm transfers their rights for using
services or products to another firm (Chung, Lu Wang, and Huang, 2012). This is particularly a
useful strategy in case when purchaser of license has larger market share. Licensing can be given
for marketing and production.
Franchising – This is a good way of entering into foreign markets and expand business.
Franchising is good for companies that have repeated business model. These are easy in
transferring into other markets. This is done when company is having unique business model and
strong brand recognition.
Partnering – This is very essential while entering into foreign markets. Basically,
partnering is a good idea while entering into Asian markets. There can be a variety of forms of
this type of route of international market. The forms of partnering can take form of simple co-
marketing arrangement or strategic alliance for the purpose of manufacturing. This is an
important strategy where markets have different social as well as business culture. Tantalum
corporation can use this strategy.
Joint ventures – These are form of partnership which involves creating of third managed
company. This follows 1+1=3 process and in this kind of venture two companies are working
together in specific market i.e. either geographic or product. In this, both companies share equal
risk and profits. This is a great idea for Tantalum corporation to start business in other countries.

Buying a company – Buying of present local company is the most appropriate strategy of
entering foreign markets. This is because company has substantial market share. This provides
status of being a local company and this will be receiving benefits of local market knowledge
and established customer base (Evers, Andersson, and Hannibal, 2012). This is not a good idea
for Tantalum as it does not have enough funds to take over another company.
Piggybacking - This is a very unique way of entering into international arena. If an
organisation is having unique service or product which can be sold to large domestic firm which
are presently involved in global markets that are needed to be approached. This minimises costs
and risks as these are sold domestically and bigger firm is marketing product of the company at
international level. This can be used by Tantalum corporation for entering into other markets.
There are different opportunities as well as challenges that organisations face while
marketing at international level. These opportunities and challenges in context of Tantalum
corporation are described below -
Opportunities Challenges
 As Tantalum corporation provides
automotive advancement, it is an
opportunity to expand into other
countries where new technology
engines and AI systems are introduced
(Fletcher, and Crawford, 2013).
 Expansion of business at international
level will enhance knowledge of
operating business to managers of this
company.
 This will help in attracting new talented
people of different countries to come
together and work towards a common
organisational goal.
 Brexit is a challenge for all
organisations as it leads to different s
uncertain trade situations.
 Marketing provides best results when
there is knowledge of both domestic as
well as international culture. But while
doing business at international level, it
is not easy to avoid conflicts due to
cultural difference.
 Global economy plays important role in
making expansion decision and political
challenges after Brexit needs to be
considered before doing market
expansion.

TASK 2
P3
There are different strategies for entering international market. In context of Tantalum
corporation these strategies are are listed below - International marketing objectives – This is initial step of market selection process. The
main objective of this step is to determine export marketing objectives of the company.
Organisation selects a particular market for serving as a particular international marketing
objective which is not be the best suitable for achieving international marketing
objective. Parameters for selection - In order to evaluate and select markets, it is necessary to
know parameters & criteria for evaluation. Various parameters for market selection are
market situation, firm's resources, government policy, nature of competition,
international environment, etc. Preliminary screening – The main aim of preliminary screening is elimination of market
which are not potential (Leonidou, and et. al., 2010). The parameters used for this
screening differ from various products. These parameters include size of population, per
capita income, infrastructural factors, etc. Short listing of markets – Preliminary screening eliminates market which are not
appropriate and can meet consideration of the company. There are large number of
markets left after the screening. These are again screened by using information about
markets. Evaluation and selection – Evaluation of above chosen markets are again evaluated in
reference to feasibility study and cost benefit analysis. These are ranked on basis of
overall attractiveness. The best market is chosen out of these markets and product is
launched by considering external environment and resources of the company. Test marketing - The marketing department tests market at small scale of launching of
bproduct in some part of markets. Feedbacks are taken to know market needs and
demands. This helps company to assess overall response of consumers from a particular
market.

 Commercial production – When production is tested in selected market, company can
proceed with mass production. Company do small modifications if required and
introduces product mix at this stage.
P4
Market entry is an aspect which is termed for entering into a new market and start
operating in that. There are market entry strategies designed for planed distribution and delivery
of quality products to customers (Meissner, 2012). Organisations must have effective and strong
marketing strategies so they can easily establish their good will in market. It is necessary for
tantalum corporation to possess a strong marketing strategy. This helps in clarifying aims and
objectives or ways of achieving market share. There are following types of market entry
strategies that can be used by Tantalum corporation -
Joint venture: This is a type of partnership in which a particular business project is taken
into consideration. As per joint venture, two companies are coming together for working in
business environment and having common goals. The projects are basically for maximising
business profit and minimising risk.
Advantages-
 Starting joint venture will help in providing the opportunity to Tantalum corporation for
gaining insight and expertise.
 Forming joint venture with other companies will help Tantalum corporation access to
better resources. The chances of success in joint venture are generally high.
Disadvantages-
 Joint ventures are flexible but and there are few times when this flexibility can be
restricted. At this time, both the participants are focussing on joint venture and in this
way, individual business suffers a lot (Paliwoda, and Thomas, 2013).
 There is no equal pay possible in joint ventures as it is not accepted in companies which
are working together and share same responsibilities and involvement.
Buying a Company: This is known as the most suitable strategy in which company can
buy already existing company. For this a suitable company that matches criteria for expansion is
selected. This is costly and determines true value of company in other markets.
Advantages-

 The business has already established plans and strategies so there is requirement of
managing all business operations.
 Business has a financial history and this is giving an idea for how to manage business.
There is convenience in securing loans and attracting investors. The existing employees & managers will posses experience that they can share.
Disadvantages-
 The personality and established relationship of seller have great impact on success of
business.
 There are some external factors like declining industry and increased competition can
affect future growth.
Direct Exporting: As per this market entry strategy, sales are made directly into market
by using resources or appointing distributes (Papadopoulos, and Heslop, 2014). Such
organisations which possess well established sales programme are likely to move towards
expansion by the process direct exporting. The main motive of business is to achieve goals in
appropriate manner.
Advantages-
 Expansion using this strategy is cost effective.
 The main organisation controls services and products in foreign markets. This is helpful in increasing consumer interaction directly. This is helpful in building a
healthy relationship with consumers.
Disadvantages-
 It leads to failure when agent become ineffective to perform task.
 It do not help in establish strong consumer base and more efforts needs to be made for the
same.
The market evaluation criteria helps Tantalum corporation to know how to enter foreign
markets. This includes what are the ways by which companies can enter foreign markets and
establish successful business. The different options that Tantalum corporation has for market
entry are buying a company , direct export, joint venture, etc. It is recommended for this
organisation that it can use joint venture strategy to enter into other foreign markets. Tantalum
corporation does not earn very high profits (Ringle, Sarstedt, and Straub, 2012). So joint

venture will be best strategy as profits and success are shared equally by both partnership
companies.
International market demonstrates various business market strategies and plans for
planning expansion. There are countries in which consumers are dependent on pricing of the
product. There are some countries where consumers are more attracted to technology and
automation. For such countries, it is seen that price doesn't matter to them. As Tantalum
corporation is more into innovation and technology of auto mobile so this must use market where
consumers are looking for high tech innovations in automobile.
TASK 3
P5
Marketing plan is essential for every business for operating in local and global market.
Every organisation follows different rules and regulations in doing business operations (Hilton,
2019). Management analyses local and global presence of business and develops effective plans
for attaining organisational goals and objectives. Tantalum corporation is involved in supplying
new technology features in vehicles. It has well developed reputation in local markets where it
operates (Samiee, and Chabowski, 2012). For entering into foreign market there is need to have
more effective strategy and planning. Local debate is defined as local marketing plan that is
helpful in attracting customers of same nation. On the other hand, global debate is defined as
marketing plan which is prepared by managers for marketing services and products in other
countries.
Global Local
This includes business activities or strategies
needed for working in international markets.
This is associated with business plan for
marketing that helps in attracting local
customers.
This is helpful in creating different
opportunities for increasing profitability and
efficiency of the company. It helps to create
various opportunities which increases
There are less opportunities in local markets
because of less or no competition.

productivity and profitability (Neville, 2017).
The management of global area develops new
innovation and trend with help of various trade
policies.
Generally, there are low market trends and high
customer relationship that has to be dealt for
running smoothly business activities.
Companies have wide scope in this for
generating higher profits and revenue.
There is not wider scope in local markets.
There is requirement of strong marketing plans
for surviving in global business environment.
It involves local management skills and
marketing skills.
It is analysed from above discussion that local market does not help business to have
competitive advantage (Jun, 2018). There is no use of advanced skills and investments. On the
other hand, in case of global markets, it is seen that marketing plans and skills are required for
sustaining in international markets. It can be concluded that Tantalum corporation of UK can
establish successful business at international level by adopting strong and effective marketing
strategies.
P6
Marketing mix is a very important factor that is used for analysing company's strategies
and competitive advantage within business environment. This is useful in identifying strategies
for increasing productivity and efficiency. In context of Tantalum corporation, marketing mix
aspects are described below -
Product- Product is defined as tangible or intangible goods or services that fulfils needs
and wants of the consumer. This is representation of the company's offerings that are offered to
customers. This is known as services and products given by Tantalum corporation to customers
(Terpstra, Foley, and Sarathy, 2012). Tantalum corporation is the market leader in auto tech
innovations and this has aggregated differentiated services for connected cars. This is unique
factor that provides advantage to this company in entering international markets.

Price - Price is defined as amount which is fixed for selling the service and product to
the customer. It is ensured by the companies that they have to manage price of the product on the
basis of product's features. This is related to the pricing strategy provided by the company. For
having good sales, a company must keep prices of it's products moderate so that it fits economic
status of all people. In context of Tantalum corporation, it is seen that this organisation provides
it's vehicles and other automation engines at a relatively higher rate.
Place - This is known as placing of product in market. Marketing is all about placing the
right product at right place in right time. Thus it is ensured by Tantalum corporation that it is
offering it's products in market appropriately. Place plays a effective role in sales of the
company. Tantalum corporation sells it's products in local markets. It has opportunity to sell
products in international market.
Promotion - Promotion includes many ways by which marketing agencies disseminate
relevant product information to consumers and differentiate a particular service or product. This
includes channel used by managers of the company for promoting their services and products.
When Tantalum corporation wants to do expansion it's business across globe, then they
must consider all the above factors in order to get success in foreign markets. Tantalum
corporation develops effective strategies in order to do business internationally.
TASK 4
P7
The different international approaches of marketing that Tantalum corporation can adopt
are Geocentric approach, ethnocentric approach, poly centric approach and Re geocentric
approach. These approaches are explained below -
Ethnocentric approach - This is one of the international marketing approach i.e. which
is helpful for companies in recruitment process in foreign markets. The human resource
department is responsible for adopting right candidate who can work in the organisation
effectively in foreign market (Wilson, and et. al., 2012). According to this approach, key
positions of the company are given to employees of parent company. Different managerial
decision including vision, mission, objectives are developed at headquarters. This can be useful
for Tantalum corporation to adopt this approach.

Implications of Ethnocentric approach
When there is ethnocentric approach in the organisation, there is advantage of having
domestic employees as the executive managers in foreign countries. In this way, there is no
threat of capturing of different organisational culture.
Geo centric approach – This is international marketing approach which is used for hiring
the best person for doing job of his or her nationality. There are different talented people across
the world and in order to enter foreign markets, it is needed that individuals must be skilled and
talented. Such approach is used by truly global companies. This approach is not suitable to
Tantalum corporation.
Implications of Geo centric approach
This is negative approach to be used by Tantalum corporation as if it wants to expand it's
market in other countries, it has to hire foreign people. There is no such chance for this company
to place existing employees to foreign countries.
Poly centric approach - This is an international marketing approach which is used at
international recruitment. Candidates are hired on based on their skills and their willingness to
create good culture at workplace. As per this approach, nationals of host country can be recruited
by managerial positions for carrying out operations in a smooth manner. The main advantage of
this approach is that there is difficulty of expatriates of parent country are removed. There is
better productivity because of knowledge of host market. Government supports such kind of
companies in an efficient manner.
Implications of Poly centric approach
In this approach as nationals of host country are recruited by managerial positions for
carrying out operations in a smooth manner. This approach requires support of government
authorities for working in effective manner. s
Re geocentric approach – This is an approach of international marketing in which
managers are selected from various countries lying within geographic region of business. In this,
managers are selected from regions of world which closely resembles the host country. The
benefit of using this approach is culture fit which means managers are from same region or host
country. There is less cost occurred in hiring natives. The nationals of host country can influence
in better manner and they can also affect decisions made by managers. There is disadvantage of

using such approach which includes managers in various region may not understand the
viewpoint of other managers who are employed at headquarters. Tantalum corporation can use
this strategy as this approach helps to hire managers of same region as host country. These are
well versed in language and culture and this provides better understanding of problems.
Implications of Re geocentric approach
In this approach, managers are selected from regions of world which closely resembles
the host country. This is effective approach which will help in managing all business operations
effectively.
P8
Assessing competitors is essential in order to know what strategies can be adopted for
accomplishing business objectives. At local level, it is necessary to gather information about
other companies selling the same product. Local competitors are working and follows same
application of legal regulation, business environment and government policies. Foreign markets
are new to the organisation and there is no information about how to manage work. Companies
which are trying to establish business in foreign market do not know the regulations and
procedures they have to follow. Thus, a good research will help organisations to grab necessary
information to smoothly function in international market. In context of Tantalum corporation, if
it wants to enter any Asian market, it had to pre determine all norms and regulations that is
followed by automobile companies there. There are basically two types of marketing approaches
i.e. traditional and modern method. Traditional way is used by Tantalum corporation to analyse
competitor and foreign markets. An organisational structure to maximise opportunities must be
designed in such manner that it remains open to adopt new methods that are more effective and
results in productive outcomes (Zhou, Wu, and Barnes, 2012.). Organisational structure must
facilitate business at international market and designed through assessing all the opportunities
and threats available in that market. Business environment keeps on changing and when new
policies are introduced with expanding business at international level other markets are assessed
properly and strategy that may results in productive outcomes is implemented.
Make recommendation on how your client organization should be structured to maximize
the opportunity in an international context
It is recommended for Tantalum corporation that multidimensional structure is used by
this company as employees are divided into departments based on product areas and/or

geographic regions. The organisations can be divided into various product divisions like Food
and Beverage, Media, Entertainment, Automotive and Agriculture, Periodical Distribution and
Marketing, Signs, Packaging, Forest Products and Port Service, and Investments and
Partnerships. In international markets, sustainability is directly linked to the strategy that is
adopted by the company. Thus, an effective strategy is developed for remaining successful in
international markets.
CONCLUSION
From the above discussion, it is concluded that entering into international market
provides wide range of opportunities for the company. It becomes easy to increases sales and
profits by selling products and services in foreign markets. An effective market research before
entering into foreign markets helps in analysing marketplace thoroughly. By the use of this
analysis, companies develops string strategies that can be adopted to capture new market and
customers. Main objective of companies is to increase their profits and that is only possible if
they take risks and enter into foreign markets. It is stated from the above discussion that there are
different ways by which companies can enter into foreign countries. These include Buying a
company,Joint ventures,Piggybacking, Partnering and Franchising. An effective and strong
strategy must be adopted by a company like Lidl so as to earn more profits and money.

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