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    Scope and Key Concepts of International Marketing

    University: Nelson college london

    • Unit No: 40
    • Level: High school
    • Pages: 12 / Words 2951
    • Paper Type: Assignment
    • Course Code: Y/508/0599
    • Downloads: 299
    Question :

    Case Study

    International marketing recognises the need of people across the world. Coca Cola is a leading brand that targets global audience using a marketing mix which is necessary to understand regional differences to gain the importance of international marketing. Organisation should determine the values, customs, languages and currencies which varies country to country. Just like the marketing environment, the international market has to be carefully scrutinised. The potential market, degree, type and size of competition, promotional differences as well as challenges to trade have to be analysed alongside the cost effectiveness of various types of transport. It is important for the organisation to assess the scale of investment and consider both short term and long term targets to gain adequate return.

     The product must possess features that is capable to attract consumer in the market. With the help of differentiated marketing an organisation will segment its overseas market and offer a marketing mic to meet the need of each of its markets. The major benefits of standardization is the cost that lowered, profitability is increased and the task of supplying different markets becomes substantially easier. There are three main approaches that can be applied which includes poly-centrism, ethnocentrism, Egocentrism.

    A soft drink manufacturer like Coca Cola typically provide a range of standards items that are sold throughout the glove with the help of marketing mix. Also, a company would produce some products which cater for particular taste and which are relevant to particular cultures. New products might be tested in regional area, before consideration of which other areas of the globe to roll out that product to.

    Learning outcomes

    LO1. Discuss an understanding of how marketing contributes to business strategies in context to international market.

    LO2. Analyse entry to a selection of international markets and define the factors that provides key success.

    LO3. Explain how elements of the marketing plan can be adapted or standardized across international market.

    LO4. Provide an understanding of how to organise and analyse international marketing efforts (multinational, global, transnational etc.)

    Learning Outcome Pass Merit Distinction
    LO1. Discuss an understanding of how marketing contributes to business strategies in context to international market. P1. Evaluate the scope and fundamental concepts of international marketing. P2. Examine the rationale for an organisation to enter in international market and demonstrate the various ways to market they can adopt. M1. Analyse the opportunities and challenges that marketing internationally present to an organisation. D1. Provide a critical analysation of the international market context, including insight into how organisations should adapt their marketing strategies for various markets.
    LO2. Analyse entry to a selection of international markets and define the factors that provides key success. P3. Analyse the key criteria and selection process required to enter in international market. P4. Explain different marketing entry strategies including its advantages and disadvantages of each with the help of suitable example. M2. Using marketing evaluation criteria, entry strategies and make suggestions for a Coca Cola organisation.
    LO3. Explain how elements of the marketing plan can be adapted or standardized across international market. P5. Provide an overview of the key arguments in the global vs local debate. P6. Examine how product, pricing, promotional and distribution approach differs in the context to international market. M3. Analyse the circumstances which an organisation should adopt a global or local approach presenting the implication of doing so. M4. Discuss and detailed out how to adapt marketing mix of a selected organisation in context to different international market. D2. Critically evaluate how marketing mix is applied to a range of international market.
    LO4. Provide an understanding of how to organise and analyse international marketing efforts (multinational, global, transnational etc.) P7. Examine and evaluate various international marketing approach that organisation can adopt. P8. Compare and contrast domestic and international orientation and ways to analyse competitors outlining the implications of each approach M5. Assess various marketing approaches and competitors analysis in context to an organisation and make recommendations on how they should operate in an international market. D3. Produce recommendations on how an organisation should be structured to maximum the opportunity in context to international.
    Answer :

    INTRODUCTION

    International marketing is defined as operating marketing functions across the border or in more than one country (Ransom, 2018). Concepts of international marketing used by multinational companies who has multiple branches in other countries as well. This report will discuss the case study of Coca- Cola. Company was established in the year 1892 founded by Asa Griggs Candler. Coca-Cola company works in beverages industry. Headquarter of the company is established in Atlanta Georgia, United States. Company serves its products across the globe. Henceforth, this report will discuss about the scope and key concepts involve in international marketing. This report will also emphasis over rots that can be adopted in order to expand business internationally. Furthermore, in this report suitable basis will also discuss in order to select which international market company should cater in order to expand the business at international level. Different market entry strategies will also discussed which will also focus over advantages and disadvantages of each method. Strategical differences will also summarised in case of company entering into international market.

    LO1

    P1. Scope and key concepts of international marketing

    Marketing in international context is considered as an international marketing. Concepts and scope of international marketing can be summarised in the following ways.

    Concept of International Marketing: International marketing is about to study the perspective of buyers. It also emphasis over developing such products that can satisfy the needs of target customers in international market. Products distribution is also an essential part of international marketing concept which also involves after sales services of company.

    Scope of International Marketing

    International marketing entertain several advantages for the business organisations that can be summarised in the following manner.

    Expand Opportunities: International marketing drives to expand business opportunities for the corporate organisations (Smallbone and Do, 2018). It improves the reach of company's products in the target market. It enables companies to expand the business opportunities by improving its target customer base.

    Export: International marketing drives the export for business organisation. The concept of international marketing has an fundamental objective to improve the product demands at internation level which also causes to increased exports of companies products. Management of Coca-Cola has achieved major improvement in its sales and export after the international marketing campaigns launched by company.

    Contractual Agreement: International marketing improves the brand reach of the company at international level (International Marketing, 2016). With the support of internation marketing company management of Coca-Cola has also engaged with various contractual agreement with dealers and other associated entities that has also drives the management to cater the target customers in internation

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