In case of IM the firms looks to make their products available to the international customers. Therefore they have to deal with PESTLE factors of not only one but several other countries. Due to this factors such as tariff barriers, govt. regulations, etc. They also have to face competition from the international competitors also. But with high risk there are opportunities to earn high returns also in the form of growth, profitability, opportunity to earn economies of scale. The study looks to focus upon some of the key issue to be considered by a firm when the firm decides to enter the international market. The company to be discussed is Tesco PLC, the biggest retailer in the UK. During the course of study the probable strategies that could be adopted by the company to expand the business has been discussed using international strategic and marketing mix of Tesco (from an international, perspective), Porter’s diamond model, Uppsala model, country of origin effect and born global model. Marketing Mix: 4P’s Framework The concept of marketing mix can be described as the set of manipulable marketing elements that can be used by the company to achieve organizational objectives. The marketing mix consists of four key elements. Neil Borden termed these manipulable elements as the ‘Marketing Mix’. In the early 1960’s he suggested 12 elements which the company should keep in mind while formulating marketing program. Then E. Jerome McCarthy delineated the marketing mix as the 4Ps of the marketing mix. In simple terms the elements of the marketing mix can be used to lay the much required foundation for the overall marketing strategy. Product Tesco is one of the major retailers in the world. It provides shelf space to the products of some of the major global brands. Along with this the company also provides private label branded products. The product ranges from fresh food, groceries, clothing and apparels, health and beauty products, electronic garments. The vast ranges of products allow the company to target a wide range of customer segments starting from kids to adults. As the company product a vast product mix with lots of variation the company opts for brand positioning as compared to individual brand positioning. Price Tesco mainly uses market driven pricing. Here it is to be mentioned that with the rise in competition in the global retail market and the recent economic downturn has forced the retail companies to decrease the prices. A part form this the company also uses promotional pricing techniques, especially in case of clothing products. In the initial days the company adopted a market skimming strategy. Thus the company set high prices for the offerings. But once the competition increased the company had to adapt and shift to market driven pricing. Also the pricing strategy has been influenced by the economic conditions. The market driven pricing has been well punctuated by other pricing techniques such as promotional pricing. Place It is believed that the Tesco has one of the best distribution strategies. The key factor that influences the
International Marketing Table of Contents Introduction 4 Marketing Mix: 4P’s Framework 5 Product 5 Price 5 Place 6 Promotion 6 Summary 9 Internationalisation Process Theories 10 Uppsala Model 10 Eclectic Theory of International Production 11 Diamond Model Theory 12 Demand Conditions 13 Supporting Industries 14 Factor Endowments 14 Firm Strategy, Structure, and Rivalry 14 Born Global Model 14 Evaluation 15 Advantages 16 Disadvantages 16 Country of Origin Effect 17 Conclusion 18 References 19 Bibliography 20 Introduction International marketing can be defined as the process where a firm looks to enter the international market by providing the products to the international customers…
Companies save a lot by not up-selling at the opportune moments during in-bound calling since out-bound calling these days is considered to be invasive and eventually disastrous to the customer association. There is a benefit that arises from a quality outsourced customer care and that is the capacity to produce relatively higher retention rates.
Mulberry depicts a British lifestyle brand that produces pilferer bags made of leather, binocular bags and dispatch bags. It provides products of a variety of range including women’s wear, menswear and footwear. The company has got it name in the London Stock Exchange by the name of MUL.
It is a strategy that applies techniques in use in the home country to other countries abroad. International marketing ensures diversification of markets, market growth and economies of scale for companies that involve themselves in this kind of marketing.
signment paper is based on international marketing. The objective of the assignment is to bring to light the role of Information Technology in international marketing; discuss the scope of information systems in international marketing activities; emphasise how the adoption and integration of IT has revolutionised the international marketing environment for marketing managers and businesses.
At the heart of international strategy lies selection of foreign market and the entry models which are appropriate for the desired market (Ellis, 2010, p.450). A comprehensive and exhaustive analysis of the market plus the entry mechanisms are essential for any firms planning to venture into foreign market if the corporation would want to remain in operation and break-even.
Whatever the product or service offered by the manufacturer or service provider can reach the consumers only through effective marketing techniques.
Globalization has opened the doors widely open for business community as they can market
It has been found that almost 48% of eBay’s total profit comes from the international business. eBay has always developed a proper plan before entering into any international market. In 2006 the company decided to enter in China through joint venture or
There are various reasons for business selling beyond its domestic borders. The geographical size of the country determines the size of the market. After the domestic market gets saturated, a businessman has to think beyond the national borders. At times
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