Street Light Company: Evaluating International Marketing Strategies

This report analyzes international marketing strategies for Street Light, a UK-based local social network company. It contrasts local versus global marketing, evaluates the marketing mix in international contexts, and discusses when the company should switch to a global approach. The report also explores various international marketing approaches, including transaction cost and adaptation perspectives, and compares home and international orientations. Furthermore, it assesses competitors in the international market and provides recommendations for Street Life Company to maximize opportunities in the international context, emphasizing the importance of research, market assessment, and adapting marketing strategies. The conclusion highlights the significance of international marketing for increasing profit margin and growth.

International marketing

INTRODUCTION
The international marketing is the procedure of exchanging goods
across the world for meeting the requirements of the customer.
International marketing allows the entrepreneurs to start their
venture in global areas and this is also known as global marketing.
The aim of international marketing is to analyse the target market
of the foreign country and helps in identifying the various global
opportunities. International marketing is the strategy which is
adopted by each company for expanding their business globally so
as to earn more profit margin and revenue (Samiee, 2020).

MAIN BODY
An overview of the chosen organisation in context of their current market
and performance
Street Light is a UK based organization and it is a local social network that helps
the British individuals in connecting with the nearby organizations,businessness ,
groups and residents.
The company was established by an entrepreneur as well as a software developer
Matt Boyes.
The company was established on 16spetember in 2011 and it a local based UK
company.
The company provide quantitative fieldwork services, including exit interviews, hall
tests, mystery shopping, face to face panels, door to door and on street interviews.
Street Life helps in providing solutions that supports in getting as close as possible
for the customers in analyzing the context nature and instigating strong real time
communication.

Local marketing v/s global marketing
 Local marketing refers to the
marketing within the national
boundaries. Marketing to the
limitations where scope is
limited. It is much more
focused because it has smaller
target audience.
 Commercialization of goods and
services are limited to local
market only.
 Here company face only one set
of economic, competitive market
issue, needs to deal only one set
of customer.
 Global marketing means creating
international strategies to expand
business. Expanding the reach of
business across the globe and
operating and managing the market
at large.
 Commercialize in the way that it
offers goods and services to the
worldwide.
 Create different strategy for the
product or service for entire
market.
 Here deep research is needed as
market is broad knowledge about
the market could be less.

Local marketing v/s global marketing
 Local marketing focuses on
customer and products different
segmentations.
 Specialization in functions
within the department of
marketing is possible.
 Here nature and taste of
customer are almost same.
 Promotion techniques used as
including television commercial
for the local market.
 Limited technologies could be
used.
 Global marketing evaluate that
there are consumers with needs,
wants all across the globe.
 Wide range of marketing skills is
required in global marketing.
 There are variation in
preferences and taste of the
customer.
 Advertisement that should be
sync for the worldwide audience.
 Here using and sharing of the
latest technologies.

Critically evaluate the marketing mix in a range of international
context.
 The four P’s are the key factors which involve in the marketing mix
strategy of international marketing.
 They are called as product, price, place and promotion and these
are constrained by the internal external factors in the overall
business environment.
 Product: The product refers to the goods and services that a
company is offering to the customers according to their needs and
 Price: price is the cost which customers pay for buying the
products

Evaluate the circumstances when your chosen organisation needs
to continue with local approach and when to switch to global
approach. Also, discuss implications of both the approaches.
 There are many circumstances in which the Street Life company needs
to choose to switch to global market like for increasing the revenue and
profit margin the company expand their business in the global market.
 companies wants to grow more and for increasing their productivity as
compared to the local marketing there is more exposure of the products
in the international market.
 For competing new sales the companies choose to switch their business
into the global market.
 Diversification is also very important while running the business and for
diversifying the business the Street life company wants to go into
international market(Rangkuti, and Aslami, 2022).

Explain and analyse in detail the various international
marketing approaches the company can adopt.
 Marketing approach can be defined as the process of identifying the way to
make the business More attractive as compare to our competitors.
 This helps in the overall development and growth of the company.
 There are many approaches which has been adopted by Street Life company
for setting their Business in international market.
 Some of the approaches are the transaction cost approach and it is one of the
oldest approach adopted by the companies was the transaction cost
approach.
 For entering into the international market it is very essential for the company
to decide the cost of the products so as to make them easy for the customers
to purchase.
 Another one is the adaptation perspective approach and this is the way of
identifying the benefits of adaption various features of the marketing mix as
compare to the local marketing (Väyrynen, 2019).

Home and International Orientation
Home Orientation
 This helps in carrying out the
business activities within the local
market.
 The scope is very limited in home
orientation
 The area which is covered in home
orientation is single nation
 Government intervention is very
low in home orientation.
 The risk involved in home
orientation is low.
 Very few financial resources are
required in home orientation
International Orientation
 This helps in carrying out the
business activities across the world
i.e. in the international market.
 The scope is very wide in home
orientation.
 Multiple countries are involved in
international orientation.
 Government interventions are very
high .
 Risk factor is very high in
international orientation.
 High number of resources are
required in international orientation.

Compare home and international orientation and ways to assess competitors
 Home orientation can be defined as the process of doing business
in the home country whereas selling products or services in the
foreign countries is defined as international orientation
 The scope of home orientation is limited as the market is also
limited whereas the scope of international orientation is very wide.
 There is one nation and same language and same culture in home
orientation as compared to international orientation as there are
different cultures and languages to adopt.
 Single currency is required in home orientation and multiple
currencies are required in international orientation.
 In home orientation there is goof familiarity with the culture and
local people of the country but in international orientation less
familiarity with the culture is there.
 Risk factor is very less in home orientation as compared to
international orientation where risk factor is very

Competitor Analysis of international orientation
 A competitor analysis, also stated to as a competitive analysis, and it is the
procedure of classifying competitors in the business and exploring their
diverse marketing approaches.
 the competitor analysis concept can also be used for the comparison to
classify your firm's assets and flaws relative to each entrant.
 For expanding the business into international market, the Street Life company
should also focus on analyzing the competitors.
 This involves the process of Identify recent and upcoming competitors in the
market.
 The process of competitor analysis involves finding and analyzing of market
share.
 The Street Life Company have to Perform SWOT for a competitor analysis.
 Also the company have to build competition portfolio for competitive analysis.

Conclusions and recommendations for the company to maximise
the opportunities in international context.
 International marketing is considered to be one of the most
important approach which is used by the companies in order to
expand the business in international target market (Paul, 2019).
Also for maximising the opportunities in the international context
there are many recommendations that have to follow by the Street
Life Company like research new territories, assess the market
opportunities, adapting different marketing strategies, it would be
very beneficial for the company to work with the local partners as
they know the needs and requirements of the local customers over
there.

CONCLUSION
 International marketing is very important concept used by many of
the companies for increasing their profit margin and growth. This
also helps in increasing the productivity and overall performance of
the company. The Street Life Company uses the various marketing
strategies in the international market for getting more success as
compared to the local context. The different approaches for
international marketing that the company can adopt are also
described in the report and the recommendations are also
discussed so as to have a better understanding of the term.

REFERENCES
 Books and references
 Liu, P. and Natalia, K., 2021, October. The Role of Marketing Strategy in
Entering the International Market. In 2021 5th International Conference on
E-Business and Internet (pp. 24-28).
 Samiee, S., 2020. International marketing and the internet: a research
overview and the path forward. International Marketing Review.
 Väyrynen, I., 2019. What are the different approaches that global
companies have towards local marketing in the Nordic region and their
driving forces? Case study of Reebok and Beiersdorf.
 Sinkovics, R.R. and Sinkovics, N., 2020. The Internet and international
marketing–from trigger technology to platforms and new
markets. International Marketing Review, 37(3), pp.437-446.