BTEC HND in Business: Unit 40 International Marketing Report

This report delves into the core principles of international marketing, examining how organizations like TESCO adapt their strategies to succeed in global markets. It begins with an introduction to international marketing and an overview of TESCO, a multinational retailer. The report then differentiates between global and local marketing approaches, exploring product, pricing, promotional, and distribution strategies. It analyzes the circumstances under which a company should opt for a local versus a global approach, and examines various international marketing approaches such as franchising and direct exporting. The report also compares home and international market orientations, concluding with recommendations for effective international marketing strategies and references for further reading.

International marketing

Introduction
International marketing is basically the marketing
principles through which the organizations market their
products overseas or across the national border and thus
capture their market share.
In short, international marketing helps the organizations to
expand in the wider geographies by focusing on the
specific target segment of particular market

Overview of organization
TESCO is the multinational groceries as well as the general
merchandise and retailer which is being established in 1919
by Jack Cohen and headquartered in England, UK.
IT mainly deals in a variety of products as well as services
like Superstores, TESCO metro, Petrol stations, club-cards
etc.

difference between global and local marketing
The principle of local marketing is simple i.e. in local marketing the comodity produced at one
location is utilized by the people of same geographical dimension. Therefor such companies
tends to fulfil the needs and demands of the consumers situated at the local level.
The principles of global marketing suggests that the comodities produced at one location is not
only designed or produced for the local reach, infect such commoditis are produced for the
customer base situated at the global level.

the product, pricing, promotional and distribution approach
Product
the basic marketing of product or service is aimed to target the needs of the market. But while considering this
aim of fulfilling the needs in the international market has to determine the various factors such as consumer
cultural background, religions, buying habit as well as levels of personal disposable incomers. In some situations
the organisation has to some strategies of marketing mix and products in order to fulfill the local wants as well
as needs. Standardisation is the process of adapting product in local market.
Thus by standardisation and customization the product can work well. Therefore the right approach used by
organisation depend upon the selection of foreign market, strength of brand as well as it depend upon the
product of the organisation.

circumstances when your chosen organisation needs to continue with
local approach and when to switch to global approach
If company has limited resources then in this
situation it has to work on local approach, this can
help the firm in gaining success and controling
over cost as well.
But if it has adequate resources and have great
market knowledge then it has to move to global
approach that would be better to gain success in
new market.

various international marketing approaches
Franchising the brand
franchising is the easier way to break into the new markets. Francising is done by the company in order to open the
doors in the international market and will facilite the company in making huge profit and will also enhance the
brand value. Moreover, sometimes franchise could serve as a backdrop of the organisation if any of the outlet of the
company had placed a negative image in the market place.
Direct exporting
Directing export is the type of international marketing in which a comodity is exported from one markert to the
another with the help of an agent or friend or partner situated overseas, where the comodity is been going to be
exported.

Compare home and international orientation
Home market orientation
home market orientation is the business approach in which companies tends to produce the
comodity which would fulfill the needs and wants of the consumers located at the domestic level.
These companies has the good knowledge of the local culture as they too belongs to the same
geographical boundaries (Morschett, Schramm-Klein and Zentes, 2015.).

Conclusions and recommendations
franchising is the easier way to break into the new markets. Francising is done by the company in
order to open the doors in the international market and will facility the company in making huge
profit and will also enhance the brand value.
Moreover, sometimes franchise could serve as a backdrop of the organisation if any of the outlet
of the company had placed a negative image in the market place.

References
Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. Strategic international management (pp.
978-3658078836). Springer.
Vellas, F., 2016. The international marketing of travel and tourism: A strategic approach.
Macmillan International Higher Education.