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Role of International Marketing Strategies to Expand Business Globally

578 Downloads1 I Published: 02 Nov ,2019

Introduction

International marketing refers to the set of activities performed by a company in order to position as well as promote its product or services at international market. This help a company to approach larger number of customer and make its brand recognised at global level (Papadopoulos and Heslop, 2014). This report is about Kicker Co which is a IT Software company which creates customised software for clinics and hospitals to help them in maintaining their meeting as well as drug store records or contact. It operates its business in UAE and now want to enter in global market by setting up business within UK and China. This report contains a detail description about market research requirement and assessment of risk at international market. It further detail about the features of international market along with operation consideration and characteristics of international marketing strategies.

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Task 1

1.1 Market research requirement for international marketing

Kicker co is a software company which create customised software for clinic so that doctors can manage their meetings and arrange drugs by remain connected with suppliers. It operates its business in UAE and now after gaining market acceptance it is planning to setup its business at international level by entering into UK and China .

So, for expanding business effectively Kicker co must perform market research before entering into it this will help in eliminating several risk that may leads to business failure at internation level. It includes cultural risk, political risk, customer acceptance and competition in market (Vellas, 2016). By performing market research company will be able to determine the demand of target market so that it can be able to deliver more customer centric service which provide maximum satisfaction. In addition to this market research also help in determining several threats and opportunities present in market which further support in formulating effective strategies to deal with competition and exploit market opportunities. Apart from this by market research also help Kicker co in positioning its business effectively by consider all the legal, environmental and cultural factors that are acceptable by that market.

1.2 Justification of business case for international marketing

Kicker co is a service sector company which offer customised software to hospitals and other small clinics to maintain their records and perform operations effectively. After gaining a huge success in UAE market it is now planning to approach international market (Cavusgil and et. al., 2014). The countries like UK and China provide a large number of opportunities to IT based companies and the reason behind this are given below:

  • The main reason behind the decision of Kicker Co. to enter into UK and China market is that both the countries are technological advanced which support company to enhance the quality of services by bringing new and innovative software. In addition to this the resources are available at cheap rate within China.
  • Operating business over international level help company in enhancing their innovation practices and management learning which contribute toward improving the performance of Kicker Co. that bring success.
  • Another reason for dealing in global market is that it provide Kicker Co. an opportunity to serve a large market share that brings more business growth as well as success opportunity.
  • The market of UAE is now become saturated for the company and the profit also get reduces. So, by entering into new market Kicker Co. will be able to earn higher profit in marketplace.

1.3 Risk that must consider for international marketing

Performing business at international market brings up several business opportunities which help Kicker Co in experiencing a huge growth and success at marketplace. In addition to this it also help company in earning higher benefit by servicing larger customer base (De Mooij, 2015). But apart from this it is also very essential for Kicker Co. to evaluate about several risk that are present in external market and may affect its operations. These risks are explained below:-

Legislative risk:-This is the major risk that every business faces while entering into new market as each country have its own rule and regulations. So, Kicker Co is required to comply with laws of UK and China related to trade in order to survive in that country.

Cultural risk:- It is also major consideration while entering into new market as lack of knowledge or adaptability to culture of new country may leads Kicker Co. to get failed in positioning its business. So for surviving in new market it is very essential for Kicker Co to gather knowledge about culture of potential market that further support it in offering services as per customer expectations.

Commercial risk:- It refers to the type of risk which is arises at international market either from trade partners or due to market condition which results in heavier loss to the company which newly entered in market. This risk is arises due to less knowledge about foreign market, in-adaptability to changing condition, varying situations etc.

M1 Different methods of international marketing

There are number of methods through which Kicker Co can enter into international market. It includes partnership, Joint venture, Franchising, direct exporting, licensing, strategic alliance and many more (Kotler and et. al., 2015). These all have there own benefit but apart from all these strategic alliance will be more fruitful to Kicker Co as it help in simplifying the market entry for country and also share they get a chance to share the knowledge of partner that leads to market adaptability.

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D1 Ways in which financial and pricing issues may affect international operations

Kicker Co. may face number of financial as well as pricing issues while performing its operations at international market such as inflation-deflation, currency fluctuation, increase in import-export duties. These issues may have an huge impact over the operations of company which includes

  • May affect its operations by creating more delays in its business activities through increase the internal cost of company,
  • Kicker Co may face several difficulties in import-export activities which also lead to increase in cost charge by company from customers.

Task 2

2.1Analyse feature of international markets

Internationalisation of business is not an easier task it require lots of research and gain of knowledge regarding the current condition as well as issues that potential market is facing. This help in formulating an effective strategy that help in establishing its business appropriately and provide with actions that must be take to deal with threat present in new market (Hoppner and Griffith, 2015). But before formulating strategy for international market, Kicker Co. must analysing the following features of international market:

Market competition:- This feature requires a deep analysis over the number of competitors present in new market that offer same services to customers and strategies used by them to operate their businesses. It help Kicker Co. so that effective strategies could be made to enter and operate business in that country. This help in minimizing the risk of failure.

Cultural aspects:- It includes analysis of several cultural factors such as language, consumer habits, regional value and demographics that must be consider by Kicker Co. before serving this market (Tiago and Veríssimo, 2014). This will Kicker Co in producing more effective and customer centric product or services.

Political and legal factor:- Each country have several rule or regulation which greatly affects the ability of performing business operations. So Kicker Co must gather information regrading the laws, taxes, license to be taken for business and currency risk involve, before entering into market for performing operations effectively.

2.2 Operational consideration while developing an international marketing strategy

Before developing an international marketing strategies, there are number of operations that must be performed by Kicker Co. which help it in ensuring formation of effective action plan which brings greater market success. These operations considerations are explained below:

  • Market research:- Kicker Co. must conduct a market research before entering into new country. This help it in gathering information regarding the customer expectation, economical condition of country and risks present in new market which support in delivering services as per customer expectation (Lovelock and Patterson, 2015).
  • Financial readiness:- Another major consideration for Kicker Co. before entering into new market is finance required to execute this plan and sources through which finance will be arranged by the company.
  • Change management:- In this Kicker Co. is required to changes the current management structure of company for making employees ready to adopt new working cultural challenges. For this company can provide training to its existing employees regarding the working culture, laws or policies followed by another country.

2.3 Characteristics of an international marketing strategy

Marketing strategy is refers to the set of tactics which are used by a company to promote its product or services as well as in making customers aware about the brand. For entering and positioning itself effectively Kicker Co is required to formulate an effective international marketing strategy which leads to maximum customer awareness. Hence, the international marketing strategy must involve following characteristics:

  • Large scale operations:- International marketing is performed over a broader scope which covers larger number of people (Surugiu and Surugiu, 2015). Hence, it is very essential for Kicker Co to formulate its marketing strategy as per the dynamics and cultural aspects of target market so that it can attract maximum customers.
  • Dominance of MNCs and developed countries:- For an effective marketing strategy Kicker Co is required to firstly analyse the marketing strategic used by MNC's and other companies within that country. This help them not only in entering with an effective marketing strategy but also support in improving company's performance by bringing regular innovation in product or services using this information.
  • International restrictions:- An international marketing strategy must be formulate by considering all the factors like trade restrictions, law and legislations related with trade practices of home as well as host countries. This help in avoiding much interference of government that may affect the brand image of Kicker Co at host country and leads to business failure.

M2 Legal implications associated with developing and implementing international marketing strategy

In order to develop or implement effective international marketing strategy, it is very essential for Kicker Co to ensure legal implication so that governmental interference can be minimised (Bowie and et. al., 2016). It includes following legal consideration as per marketing elements:

  • Product:- Kicker Co is required to consider the standard that are fixed by government of UK & China related to software services company is offering. In addition to this it must also follow Information technology law and also required to take software licence from host country.
  • Place:- First thing to be consider for marketing strategy development and implementation is that Kicker Co required to register its appropriate business structure under company law.
  • Price:- Under this Kicker Co is required to strictly follow the pricing limits that are fixed by government for which the customers are liable to pay over the product or services.
  • Promotion:- In this marketing strategy, Kicker Co is required to follow the guidelines fixed by the government related to restricting practices that are done by companies to mislead the customers.

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D2 Evaluate organisation's international marketing strategy

For operating its business in international level Kicker Co has formulated an effective marketing strategy which support in executing this plan effectively. For internationalising business, Kicker Co has decide to enter into the market of China and UK through strategic alliance. the reason behind this is that both countries are technological advance and this services will be highly in demand. In addition to this the labour or other resources are also available to company at lower rate.

This software will be promoted with the help of online advertisements using social media sites, newspapers and through magazines related to medical field by targeting clinics and hospitals.

Introduction:

International marketing communication is defined as the set of activities which are performed by a company to inform and persuade customer to buy product or services.

Factors affecting marketing communication

Local customs:- Kicker Co must formulate its marketing strategies by considering the practices or rule of conduct established in particular community or country as this enables them to gain acceptance of people in the market.

If the local customs are not considered by company, then it influence its image in negative way and firm may face criticism in market.

Culture:- Company is required to formulate effective marketing strategy as per the values and beliefs of host country society as avoidance of which leads to market in-acceptance of product or services.

In order to formulate effective marketing strategy company must focuses over cultural norm and beliefs for gaining market acceptance. It help in attracting large number of customer if Kicker Co respects the culture of host country.

Language:- Kicker Co must perform its promotion activities in host country language as if they use their native language then it may arises the risk of miss-communication among people which also affect goodwill of company.

Kicker Co must perform advertisement in the native language of host country in order to remain more meaningful and understandable to customers.

Ethical considerations:- Kicker Co must perform its marketing activities in ethical manner as avoiding this may leads to legal compliances or risk which affect its sustainability at market.

Kicker Co must provide real information about its services to customer and must not manipulate the information that may mislead or harm the customer interest in any manner. It must perform its marketing activities in ethical manner.

Role of technology in international marketing communications

Relation management:- Use of technology help in maintaining the effective relation between customer as well as company by providing more customised services.

For instance by using customer relationship management tool Kicker Co will be able to maintain its client record for keeping in touch with them for maintaining healthier relation.

Customer interaction:- Technologies provide company an opportunity to directly communicate with its customers through several medium.

For instance, Kicker Co can promote its brand over social media sites that help it in maintaining a better customer interaction in form of feedback which also support toward in improving their services.

Market approach:- With the help of several technologies like internet, broadcaster etc. Kicker Co will be able to approach larger market.

For instance, Kicker Co can use several mediums for promotions and interactions like TV advertisements, electric billboards and internet that further support in approaching larger market by creating brand awareness. By using these technological medium Kicker Co. will be able to conduct its promotional activities more effectively.

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Requirement and implementation of different sale and marketing communication strategy

Requirement:-

  • Marketing and sales strategies is required as it help in offering services as per the customer requirement.
  • It is essential to make customer inform about the product or services offered by company.
  • These strategies also help Kicker Co in knowing its customers more effectively.

Implementation

  • Marketing and sales strategy will help in increasing the brand awareness
  • It work toward increasing the sales at market place
  • It help in taking actions effectively that leads to maximum customer satisfaction.
  • It will support in increasing profitability of Kicker Co.

Glocalization

It refers to the product as well as services that are developed and distributed internationally but also adjust fro accommodating customers at local market.

Impact of glocalisation on communication

  • This help Kicker Co in removing the cultural barrier by forming up a communication channel for several nations.
  • It affect the communication strategies as company is required to form up by considering the cultural norms of particular country.

Conclusion

From the above given information it can be concluded that globalisation of business open up several growth and development opportunities for a company. But in order to set up business effectively at global level company is required to perform market research. This help in gathering information regarding the laws that must be consider for performing operations at foreign country, feature of international market, culture, economical and political factor of that country. These all help in forming up an effective international marketing strategies which help it in achieving business success.

References

Books & Journals

  • Bowie, D. and et. al., 2016.Hospitality marketing. Routledge.
  • Cavusgil, S. T. and et. al., 2014.International business. Pearson Australia.
  • De Mooij, M., 2015. Cross-cultural research in international marketing: clearing up some of the confusion.International Marketing Review.32(6). pp.646-662.
  • Hoppner, J. J. and Griffith, D. A., 2015. Looking back to move forward: a review of the evolution of research in international marketing channels.Journal of Retailing.91(4). pp.610-626.
  • Kotler, P. and et. al., 2015.Marketing. Pearson Higher Education AU.
  • Lovelock, C. and Patterson, P., 2015.Services marketing. Pearson Australia.
  • Papadopoulos, N. and Heslop, L. A., 2014.Product-country images: Impact and role in international marketing. Routledge.
  • Surugiu, M. R. and Surugiu, C., 2015. International trade, globalization and economic interdependence between European countries: implications for businesses and marketing framework.Procedia Economics and Finance.32.pp.131-138.
  • Tiago, M. T. P. M. B. and Veríssimo, J. M. C., 2014. Digital marketing and social media: Why bother?.Business horizons.57(6). pp.703-708.
  • Vellas, F., 2016.The international marketing of travel and tourism: A strategic approach. Macmillan International Higher Education.
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