Waitrose & Partners: International Marketing Analysis Report

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Added on  2023/01/18

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This report provides a comprehensive analysis of international marketing strategies, using Waitrose & Partners as a case study. It begins with an introduction to international marketing and an overview of the Waitrose organization. The report then delves into the key arguments comparing international and local marketing approaches, highlighting the advantages and disadvantages of each. A detailed examination of the international marketing mix, including product, price, promotion, and distribution strategies, is presented, with specific adaptations for the Chinese market. The report explores different approaches to global marketing, such as ethnocentric, geocentric, and polycentric strategies, and compares home and international orientations. Recommendations for Waitrose's international expansion are provided, emphasizing transparency and adaptive product offerings. The report concludes with a summary of the key findings and a list of references, offering valuable insights for understanding and implementing effective international marketing strategies.
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INTERNATIONAL
MARKETING
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Content
Introduction
Overview of national organisation
Discuss the key arguments in International VS local marketing
International Marketing Mix and Extended international marketing mix
Different approaches to global marketing suitable for selected
organisation and circumstances to switch to global market
Compare home and international orientation
Recommendations
Conclusion
References
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Introduction
International marketing is basically a marketing tactics in which an
organisation adopt different activities and practices so that offerings
of a company can be promoted in global context. By using this kind
of marketing approach, customers base of a company can be
increased in exponential manner. To prepare this presentation,
selected organisation is Waitrose & Partners which is a Britain
based supermarket offering food products to their customers in
standardised manner.
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Overview of national organisation
Waitrose is a UK based
supermarket which is the
biggest employee-owned retailer
in Britain and a subsidiary of
John Lewis Partnership. This
organisation is headquartered in
Berkshire, England. This
company is founded in 1904.
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Discuss the key arguments in International VS
local marketing
Global marketing is referred to the selling of offerings either
services or products to foreign countries.
It involves an appropriate planning, placing and promotion of
products to global people which are prepared by an organisation.
Advantage of global marketing is that it assists an organisation in
serving global customers due to which high profits can be earned.
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Local VS Global debate
Local marketing Global marketing
Under this marketing, people from
near by region of organisation are
targets and satisfied.
In this kind of marketing, global
customers are served, satisfied and
targeted.
To perform this marketing, limited
resources are required.
In order to perform this kind of
marketing, heavy capital and
skilled manpower is needed.
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International Marketing Mix
Marketing mix is stated as a framework
which benefits an organisation in
evaluating their competitive
advantage in marketplace. In case of
England, manager of concerned firm
can use standardisation but to
operate in international market,
adaptation is needed.
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Marketing mix between domestic market and
international market of Waitrose
Component UK China
Product Population in UK is habitual to use standardised
services and products without being price sensitive.
For example, if product will be of good quality,
customers are ready to pay high amount to Waitrose.
Services offered by company is related with
availability of wine, bar, supermarket online
shopping etc.
People in these regions have average wealth and they prefer to purchase
those products that can serve their needs. For example, to operate in
China , Waitrose will have to offer those products which can serve needs
of customers in proper way. For example, to operate in China , Waitrose
will have to offer those products which can serve needs of customers in
proper way. People are not going to buy the costly products that do not
serve their needs. For example, company can offer services like online
shopping, home delivery etc
Price Due to disposable income, UK population can spend
high amount is purchasing products of Waitrose.
Company can target customers via premium pricing.
For example, Company can target customers via
premium pricing for luxurious items and average
pricing for those items which are of daily use.
Due to less purchasing power, people in china purchase those products
which are genuinely priced. In this context, Waitrose will required to
adopt adaptation by using economic pricing or bundle pricing strategy.
This is because, in China people have limited income and they will not
purchase products if they are highly priced
Promotion Best way to promote services and products in
through is through traditional media like Hoardings,
newspaper advertisements etc. Also, social media
can be used. For example, to promote their new
services, manager of company perform online
campaigns where sample of products will be given to
some customers on random basis.
To advertise in China, digital and social media are best alternatives.
Here, traditional media is not so influential. In this aspect, manager of
Waitrose will require adaption to digital media promotion. For example,
by using Instagram and Facebook, health benefits of food provided by
Waitrose can be shared. This will help in attracting million of customers.
Distribution Organisation can distribute and organise their
products directly through their outlets and
wholesalers. Also, products are available through
online websites.
Waitrose can export their products to China for distribution. In case of
distribution also, manager of firm will require adaptation as direct
selling of product is not possible. For example, through e-commerce and
official website of company, services can be offered to people in global
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Extended international marketing mix
Component UK China
People To manage their employees, company
can provide them regular training and
benefits. Due to which they are
capable to satisfy customers as per
their requirements.
In case of China, employee can be managed
via benefits and regular training in this
context standardisation can be adopted.
Process Organisation can use both online and
offline processes to service their
customers and resolve their queries.
Also, company can use TQM so that
overall quality of their products can
not be compromised.
Company can implement online processes
to resolve query of customers. Here,
adaptation will be required. This is because
offline processes will not be capable to
solve issues of customers in global context.
Physical evidence Main physical evidence of company in
UK is their main office, branches,
outlets, products, official websites etc.
Physical evidence of company is their
website, official sites and their products.
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Circumstances to switch to global
market
There are different circumstances in which an organisation can leads
towards global market. Some of these reasons are listed below:
Saturated domestic market
Earning high profits
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Different approaches to global marketing
suitable for selected organisation
There are basically three approaches in context with global marketing
which are stated below:
Ethnocentric approach
Geocentric approach
Poly-centeric approach
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Comparison of home and international
orientation
Home orientation is an expect in which an organisation gives more
superiority to their domestic market rather than international market.
Organisation uses this orientation prepares products to serve their
local customers on primarily basis. Main example of this orientation
is ethnocentric approach in which standardisation is used by
organisations to serve global people. Here, rivals can be assessed by
their revenues and sales.
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