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Unit 3 International Marketing Level 4 City College

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Introduction

International marketing can be described as those promotional activities including several principles to satisfy varied requirements and wants of different customers residing across national borders. It is also known as global marketing which involves designing of promotional mix worldwide and customizing it according to preferences of various kinds of citizens living all over the world (Akaka, Vargo and Lusch, 2013). This report is based on Marks and Spencer which is a genial retailer that sells clothes, gifts, home furnishings and foods under St. Michael trademarks in UK, Europe, the Americans and Far east. It is headquartered in London in United Kingdom having number of employees around 84,939 and it's revenue is approximately £10,622.0 million. This assignment will discuss about scope or key concepts of global marketing along with criteria and selection process through different strategies of market entry. Different types of approaches and comparison between international and home orientations are described below.

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TASK 1

P1 Scope and key concepts of international marketing

There are various kinds of key concepts and scope on which international marketing is based in order to Marks and Spencer. It includes several techniques and methods that impacts more effectively as well as efficiently at global market. These concepts are helpful to enter in different market to expand business at international level which facilitates to improve productivity and profitability of Marks and Spencer. Several scope and key concepts of international marketing that can be adopt by Marks and Spencer are given below.

Scope of International Marketing

  • Imports :- This term can be described as to import products and services for a specific brand that works in same manner like it does for whole country (Bertoli, 2013). Marks & Spencer can adopt this technique to expand their business and gain better profits along with grabbing more market area.
  • Exports :- It is described as to manufacture a particular product as per order of customer of another country and deliver it to client. There is no need to establish any store or showroom in other nation but just to make product and deliver to foreign customer. Marks and Spencer can adopt this technique as it does not require huge amount of capital and risk factor is also less.
  • Contractual agreements :- This can be defined as that criteria when a business moves out to international level then its scope of international marketing expose it to greater chances of doing a lot more business. Such agreements may be like licensing or co-production or even technical assistance (Chung, Lu Wang and Huang, 2012).

Key concepts of International marketing

  • Globalisation :- It refers to expand brand at global level through several modes to enter wide market internationally. Thus, it is helpful for organisation to expand their business worldwide to gain more number of customers from different countries. Moreover, it will provide support to increase profits share of business successfully.
  • Export Marketing :- It is described as conduct production of product and services and export it to other country in different trade. Thus, it will provide opportunity to grab clients outside the particular nation without establishing venture in foreign countries. Marks and Spencer can increase their customer count as well as boost up brand image in proper manner.
  • International Trade :- This is described as exchange of capital, goods and services across international borders or territorie In case of Marks & Spencer, they can adopt this concept and through this, they are required to export or import trade goods to various customers and divisions. Thus, it will render help to increase regular productivity as well as profitability of business.

P2 Rationale for Marks & Spencer to wants market internationally

Various types of methods and techniques which are helpful to expand business of Marks and Spencer at global level to grab more market share. It will facilitate to attract new customers along with retaining current ones that results in to improving productivity as well as profitability of an organisation. Some of them which are acquired or may adopt in future are given below:

Joint Ventures :- This term refers to a collaborative association of any two brands for reasonable period of time. Through this, both companies generate a new firm which works its own protect separately and follow goals or objectives of it. For example, A joint venture of Marks and Spencer was initially used in Spain because it as felt that market knowledge and power of an existing retailer will help mitigate cultural distance and sometimes, adverse political climate. Moreover, this concept will facilitates to expand business by launching joint venture and increase profitability for both business entities randomly.

Direct Investment :- This can be described as to invests capital into another country to enter its market area for gaining more shares at global level (De Langhe and et. al., 2011). But in this method, Marks and Spencer is required to implement a huge amount of money because they have to establish themselves into different nation in order to build stores, showrooms, plants and so on. Large amount of capital and efforts are must so that risk or uncertainty is factor is quite high. Thus, it can be considered as a kind of choice to invest funds in proper manner which helps to promote brand in international market and support to grab clients from different countries at global level. Hence, the increase in customer count will automatically raise in quantity of productivity as well as profitability of company.

Franchising :- It refers to an arrangement where one party grants another one right to use its trademarks or trade-name as well as certain business system and processes to generate goods. For example, Marks & Spencer used franchise format that was hybrid between first trademarks franchising and business-franchising. It basically means that trade-name franchising is based on supply of merchandise and trade mark, such as gas service stations and auto mobile dealerships, while business format franchising relies on a transfer of formalized operating style (Fletcher and Crawford, 2013).

The above mentioned techniques have their own benefits while entering in another market to boost up productivity as well as profitability of an enterprise. Marks and Spencer have to analyse these methods and select the best one for attaining benefits through expanding business at global level.

TASK 2

P3 Key criteria and selection process

Internation marketing is beneficial for any company if proper planing and execution will be done. It helps to expand business in worldwide market by which they can attract new customers along with retaining current ones. This will facilitate to boost up productivity as well as profitability of organisation. It is important for Marks and Spencer to follow an appropriate criteria to select effective procedure with several steps.

Step One – Country Identification

This stage includes to determine an appropriate market of specific country in which particular organisation so that they can expand its business in correct place (Gilligan and Hird, 2012). Selecting an accurate market for improving brand image is very important because in this procedure, single wrong decision may spoil everything. Marks and Spencer have to identify right country to expand market as per opportunities for product manufactured by them. It is a very important aspect to determine an appropriate nation which is suitable for business so that it can be expanded in proper manner along with increasing profitability of business. It includes a target to attract new clients along with retaining the current ones through grabbing people from other countries properly which facilitates to gain more profit share.

Step Two – Preliminary Screening

It refers to that stage in which company is required to do screening of various applicable choices to select best one. It is necessary to observe and analyse several factors of particular country such as currency stability, exchange rates, level of domestic consumption and many more. These elements will facilitate to know exact status of nation which helps to make appropriate decision. Thus, it is an essential criteria to choose best one option from number of alternatives as it is main factor which decides future benefits of organisation through adopting the same.

Step Three – In-Depth Screening

This step is all about to gain information in detail by observing, analysing and evaluating various desired components so that appropriate decision making can be done by organisation. Marks and Spencer have to critically study about deep explanation to reduce risks and uncertainty along with enhancing profitability of company. Moreover, correct decision making is very significant because it will facilitates to direct efforts in right direction for thoroughly analysing all the alternative choices along with evaluating approx outputs which helps to attain desired profits.

Step Four – Final Selection

This level is that while the final selection of specific country is done by an enterprise to expand brand into new market for betterment of productivity (Malhotra, 2011). Marks & Spencer have to analyse each and every factor such competitors in other market for reducing negative impacts and enhance effects of opportunities. Thus, selection of mos effective as well as efficient choice is must because it is mainly considered as factor of deciding loss and profits in future.

Step Five – Direct Experience

This step refers to make an experience directly which should be done by managers of Marks and Spencer to visit that place for having a look on present conditions of that country in reality.

P4 Different market entry strategies and its advantages and disadvantages

There are different types of strategies which can be adopt by various organisations like Marks and Spencer to make an entry in another country to expand business. Several modes are helpful to companies so that they can easily become part of other market to boost up productivity as well as profitability (Paliwoda and Thomas, 2013). Some of market entry strategies that may apply by Marks & Spencer along with advantages and disadvantages are described below.

Joint venture :- This can be described as a new firm established by two companies with new concept or idea in separate manner.

Advantages

Disadvantages

· Beneficial factor is that, partner's goals are converge and competitive targets diverge.

· Conflicts over asymmetric new investments.

 

Franchising :- this cab be described as techniques which is semi-independent business owners pay funds and royalties to parent firm in return for correct to become determined with its trademarks to sell products and services.

Advantages

Disadvantages

· It includes low political risk and cost for company.

· This methods will allow simultaneous expansion into different regions of world.

· Maintenance of control over franchise may be difficult.

· It requires monitoring and evaluating performance of franchise and rendering ongoing assistance.

Direct exports :- It is described as to make products and export them into other country as per requirement and demands on customers (Ringle, Sarstedt and Straub, 2012). There is no requirement to establish new plant or stores there but only have to sell products to another nations for clients.

Advantages

Disadvantages

· It control over selection of foreign markets and choice of representative companies.

· It helps in better protection of trade marks, patents, goodwill and other intangible properties.

· This reflects higher start-up costs and greater risks as opposed to indirect exporting.

· Greater information is required for an organisation.

 

The above mentioned strategies are helpful to enter in new market mote effectively as well as efficiently. Company can select best one for implement to gain desired benefits. Several changes or modifications are easy to implement because company is very much aware about legal laws of government of country (Samiee and Chabowski, 2012).

TASK 3

P5 Overview of the key arguments in the global vs local debates

Various kinds of marketing methods are available which have their own impacts on different organisations as per their nature of core products. To sell product in local market have different goals along with techniques and global marketing methods are actually vary differentiated from the local one. It is mandatory for Marks and Spencer to establish separate planning and teams of sales for achieving profits which are desired.

Local arguments in debate :- This is all about to expand business or sell product am country from whose culture and preference of people in in knowledge of company. It can be considered as quite easy phenomenon to planning and executing strategies and policies in more effective as well as efficient manner. This will facilitate to improve productivity and profitability of Marks and Spencer if it wants to improve its brand image in local market. The organisation can make an appropriate target along with techniques to gain benefits. Major advantage in local area is that, firm has already established brand image and grabbed market share and required to put less efforts to enhance it (Terpstra, Foley and Sarathy, 2012).

Global arguments in debate :- To enter in global market is totally different thing because it is full of risks and uncertainty. This is due to reason of lack of information about cultural values or beliefs along with needs, wants, demands, preferences and tastes of people. To enter worldwide market or expand and business in another country, it is mandatory to study about various factors and laws before preparing an accurate plan for execution. There are different types of issue or problems can be generated then Marks & Spencer have to be ready to tackle these aspects. They required to observe and analyse about threats and opportunities so that positive elements can be utilised by company at correct time for improving range of profits. If problems are determined earlier then it becomes easy to reduce their negative impact.

The above mentioned markets such as global and local are different for organisations to manufacture products or services and sell to customers to complete their desires. It is essential to make different strategies and policies for both markets as nature of them is exactly differentiated from one another.

P6 Approach of Marks and Spencer differs in a variety of international contexts

Different approaches are necessary to make more effective as well as efficient strategies or policies to enter in global market. Several factors are there in procedures of company which should be changes or modifies as per requirement then only survival of brand ion another country will be comfortable. International marketing contains various elements that should be analysed by Marks & Spencer is described below.

Product :- This term can be described as final good which is ready to sale for fulfilling desires of clients. Company is required to make a modified product as per demands of customers of new market then only better profitability can be attained. Thus, products are responsible of attracting new customer as well as retain current ones which facilitates to boost up profitability of business.

Pricing :- An important component is price of product including cost of manufacturing and profitable margin of company. It is necessary to decide pricing as per budget of income bearing by target customers and benefits of organisation as well. Additionally, it is necessary for organisations to provide goods or services ate reasonable price so that more number of individuals can afford them as it helps to grab more market share.

Promotion :- Various kinds of promotional activities are carried out by firms to inform people about their product or improving sales. It is mandatory to increase number of clients and sales through several activities like advertisements, banners, posters and so on. Moreover, promotional activities are very important because they make people aware about effectiveness and benefits of particular product to convince for purchase the same repeatedly.

Distribution :- This factor is extremely important as companies have to make sure that specific bulk of product should be distributed to several distribution channels. It is necessary to provide goods Available in market as per demands of customers. Thus, it is mandatory to supply required units of goods to respective stores or centres so that people can purchase immediately to fulfil their requirements.

The above mentioned factors are essential for nay organisation which wants to expand their business in other country like Marks & Spencer. It seems to be necessary to make sure about building appropriate strategies to gain productivity as well as profitability (Whitelock, 2013).

Comparison of Marketing Mix

Factors

United Kingdom

United States

Product

It serves several products like blazers, cardigans, cashmere, jeans, linen, shirt, skirt and many more. Footwear section for women includes boots, sandals, loafers, pumps, heels etc.

It includes Jackets, coats, trousers, t-shirts, swimwear, shorts, cardigans, jumpers, joggers, wallets, ties, luggage, briefcase and many more.

Price

It involves competitive pricing strategy in its marketing mix for its product portfolio

This considers a dynamic pricing policy and during off seasons, festive seasons and seasonal time it offers incentives and discounts to its customers

Place

It has almost 850 stores in UK having major business.

It has several limited stores to provide goods or services.

Promotion

This company utilise print media, advertisements in T.V, mobile applications and other social media campaigns.

They place magazines, newspapers, radio, television channels, billboards and hoardings on regular basis.

TASK 4

P7 Different approaches of international marketing

International marketing is to carry out a firm across the border from its native country, when a business expand in international markets, it includes all the marketing factors like planning, pricing, promotional, distribution ideas, that are comes under the marketing techniques. Marks & Spencer is a supermarket retail, which deals in clothing, food products and grocery items, and it need to be careful about two core approaches:

Product Approach : A company should focused on its trading goods and services in international market, the products must have specific target in globalisation. Marks & Spencer is dealing in various kinds of products, so it needed to be analysed the requirements of customer, in order to achieve success, customer satisfied products and services are roots of emerging industry in global market era. There are a number of things which matters to grow in international market, is that quality of company, financial and geographical conditions and resources applied to accomplish a activities.

Institutional Approach : International marketing aims numerous institutions such as retailer, mediator, importers, suppliers, production, manufacturing, everyone who is part of marketing. These institution assists to expand there business in other country as they know their local market. Thus, it will provide support to Marks and Spencer for gaining more marker area through institutional approach which helps to increase number of customer for brand along with improving profitability.

Decision-making : In business decision-making is essential as it solves so many problems, that may occur due to controllable or uncontrollable factors. Controllable factors includes product quality, price, cost, profit, production, sales, promotional tool, etc., whereas the uncontrollable elements are government policies, competition, supplier' s decision. So in this approach various kinds of approach handled to get rid out of problems.

Legal Approach : Legal approach considers only legal laws of marketing, there are some laws which are safeguard of purchaser and seller, for example, consumer protection act, that protects customers.

Functional Approach : In functional approach, it includes all marketing functions like buying, assembling, selling, transport, standardization, grading, storage and warehousing, financing, risk taking.

The above discussion concluded that several approaches are helpful such as product, institutional, decision making, legal and functional in international marketing which should be evaluated.

Approaches to international Marketing

Global strategy: This includes to an important criteria of adopting minimum changes while surviving in global market. Marks & Spencer is required to apply less modifications in company because they have to maintain themselves as per global market trends along with sustaining at their position for long time.

Adaptation strategy: The adaptation includes to making certain changes in product and promotional activities in Marks & Spencer to attain target or objectives of business successfully.

Customised strategy: This involves the concept of manufacturing new product or service to gain specific market goals along with sustaining at international level.

P8 Compare between international and home orientations to assess competitors

Home orientation refers to the location of a company where it is established, so it is well known about everything about its native place where it is performing its business whereas international orientation is different from that it need to analyse each bit of information in company context (Yang, Su and Fam, 2012). International and home orientation is totally different terms because international incurred at global level whereas home is seen as identifying the competitors within the nation. Therefore, both the terms are used for analysing the rivalries which is faced by company while running their business entity. Thus, major difference between these two terms are discussed as follows:-

Home orientation

International orientation

If marketing analysis is conducted in home country then it falls under this category

Whereas, if assessment of rivalries are conducted outside the nation which means on global marketplace then it is known as international orientation

Consume minimum cost

Incurred large amount of funds in order to conduct analysis at global market.

Involvement of local government and authorities

Consent from political bodies of another nation is required which means trade policies must be considered by Marks and Spencer while dealing at international market.

Involvement of domestic consumers.

Foreign consumers are taking part in this orientation.

Minimum risk

High level of risk.

Steps to follow for assessing competitors in international market by Marks & Spencer which are as follows:

  • Identify Your Top Ten Competitors
  • Analyse and Compare Competitor Content
  • Analyse Their SEO Structure
  • Look at their Social Media Integration
  • Identify Areas for Improvement

Hence, it has been understood that both the factors are totally distinct from each other due to their roles and responsibilities towards company. Basically, assessment of competitors is indispensable for organizational success because it helps managers while designing company goods and product in order to attain set objectives or targets. Therefore, both the concept are distinct as it helps in guiding company towards corrective path.

Conclusion

The above report had concluded that international marketing can be described as those promotional activities including several principles to satisfy varied requirements and wants of different customers residing across national borders. It includes several techniques and methods that impacts more effectively as well as efficiently at global market. Various types of methods and techniques which are helpful to expand business of Marks and Spencer at global level to grab more market share. Internation marketing is beneficial for any company if proper planing and execution will be done. Several modes are helpful to companies so that they can easily become part of other market to boost up productivity as well as profitability. To sell product in local market have different goals along with techniques and global marketing methods are actually vary differentiated from the local one. International and home orientation is totally different terms because international incurred at global level whereas home is seen as identifying the competitors within the nation.

References

  • Akaka, M. A., Vargo, S. L. and Lusch, R. F., 2013. The complexity of context: A service ecosystems approach for international marketing. Journal of Marketing Research. 21(4). pp.1-20.
  • Bertoli, G., 2013. International marketing and the country of origin effect: the global impact of'made in Italy'. Edward Elgar Publishing.
  • Chung, H. F., Lu Wang, C. and Huang, P. H., 2012. A contingency approach to international marketing strategy and decision-making structure among exporting firms. International Marketing Review. 29(1). pp.54-87.
  • De Langhe, B. and et. al., 2011. The anchor contraction effect in international marketing research. Journal of Marketing Research. 48(2). pp.366-380.
  • Fletcher, R. and Crawford, H., 2013. International marketing: an Asia-Pacific perspective. Pearson Higher Education AU.
  • Gilligan, C. and Hird, M., 2012. International marketing: strategy and management(Vol. 17). Routledge.
  • Malhotra, N. K., 2011. Basic marketing research. Pearson Higher Ed.
  • Paliwoda, S. and Thomas, M., 2013. International marketing. Routledge.
  • Ringle, C. M., Sarstedt, M. and Straub, D.W., 2012. Editor's comments: a critical look at the use of PLS-SEM in MIS quarterly. MIS quarterly. 36(1). pp.iii-xiv.
  • Samiee, S. and Chabowski, B. R., 2012. Knowledge structure in international marketing: a multi-method bibliometric analysis. Journal of the Academy of Marketing Science. 40(2). pp.364-386.
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