Before starting the module; Marketing Theory and Practice, I had a perception that it would be a bulky module and challenging to cover in a short time span. However, my thinking totally changed after starting the module as I found Marketing flexible, understandable and highly relevant to the business world. My expectation in marketing was to learn fundamental marketing theories and techniques that would help me build a sustainable business that would extend across the borders of my home country. This essay is going to cover weeks 20, 21 and 22 that is International Marketing, Marketing ethics and CSR, Managing Marketing Implementation
Every business today needs international marketing skills to be able to compete in an increasingly competitive global market place.
International Marketing, at its simplest level, involves the firm making one or more marketing mix decisions across national boundaries (Jobber, 2010). At its most complex level, it involves the firm establishing manufacturing facilities overseas and coordinating marketing strategies across the globe (Jobber, 2010). There are various reasons for going global, some of which are: to find opportunities beyond saturated domestic markets; to seek expansion beyond small, low growth domestic markets; to meet customers’ expectations; to respond to the competitive forces for example the desire to attack an overseas competitor; to act on cost factor for example to gain economies of scale in order to achieve a balanced growth portfolio. The methods of market entry that could be used are indirect exporting (for example, using domestic –based export agents), direct exporting (for example, foreign –based distributors), licensing, joint venture and direct investment. I found this par...
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...rnt that marketing can help you to persuade and communicate with customers in order to retain them and make them loyal to the business. Also the foundation on how a business can penetrate in the market with the 4 P’s in the marketing Mix helped me understand that before starting up a business we need to target on the location, people , place and promotion. Marketing has give me knowledge and skills to be innovative and build self confidence in public speaking skills.
REFERENCES:
Lecture slides
Principles and practice of Marketing, 6th edition http://www.marketingteacher.com/lesson-store/lesson-international-marketing.html https://blog.paymill.com/5-reasons-companies-go-global/ http://www.investopedia.com/terms/g/green-marketing.asp https://www.inkling.com/read/strategic-marketing-cravens-piercy-10th/chapter-15/implementing-the-strategic
Kotler, P., Brown, L., Adam, S., and Armstrong, G. (2004). Marketing (6th ed .). Pearson Education Australia.
The rise in globalization over the last few decades has helped facilitate and encourage corporations to expand into international markets. This paper will review the five common international expansion entry modes, and the pros and cons of each method. Finally, my employer is in the technology industry and I will breakdown and recommend which entry mode would work best for international expansion.
Promoting your company through blogs, podcasts, video, newsletters, SEO, eBooks and Social Media is called Inbound Marketing. The ultimate purpose of inbound marketing is to bring customers closer to the brand. Inbound marketing earns a lot of attention from the customers and makes it easy for them to find your company. It helps you to get new customers through the interesting content you would post on your social media, blogs, newsletters or more.
Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
Johansson, Johny K., Global Marketing: Foreign Entry, Local Marketing, & Global Management, Third Edition, Georgetown University, 2003
At the start of this module, I had no idea what to expect. When I heard the term “Marketing”, only one thing came to my mind: presentations. When I used to be in school, I remembered vaguely that my presentation skills weren’t exactly even close to Suze Orman, who is considered to be America’s most motivational speaker. In fact, they were so bad, I wasn’t sure of doing this course in the beginning. But then it wasn’t like I had a choice. I had opted for BA Hons. Business Management and the course came along with a module named Marketing.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Contemporary companies utilize global resources and markets to produce and sell their products. Managing a multinational company is vastly more complex than running a retail store in one location. Operating internationally increases the complexity
Why would a company go international? There are many reasons why companies would go international, but generally a company goes international so they can seek opportunities in domestic markets, or they seek solutions to problems that cannot be solved through domestic operations. There are many profitable possibilities by going internationally and these include greater profit potential, offers new locations to sell products, it may provide better access to needed raw materials, it may access to financial resources from many nations, and lastly it may allow labour-intensive activities to locate in countries with lower labour costs. For a small business to become an international business they must use five guidelines the first is global sourcing, exporting and importing, licensing and franchising, joint ventures, and wholly owned subsidiaries. The first two are market entry strategies and the remaining are direct investment strategies.
Nowadays, more and more companies are crossing borders and reaching potential consumers from every corner of the world. It is imperative that companies understand there is no such thing as a one-size fits all approach for international trade. Companies must take it upon themselves to know their company and industry, determine the appropriate market entry strategy, select a target market, develop a business plan, and seek assistance to make the expansion process as smooth as possible.
It is yet uncommon to see a company which is thriving financially and competitively that does not use the concept of marketing. Marketing is one of the important keys to success for a company.
Before the marketing strategy lecture for week one I had a basic knowledge of market-led and strategic market planning (Wilson and Gilligan 2005).However, my understanding of marketing before the lecture was that marketing is all about selling products. Nevertheless, after the lecture I discovered that marketing was more than I imagined; that it involves communicating, delivering and exchange of offering that have value for customers, client, partners and society (Piercy 2008).
Marketing is the activity; a set of instructions, and the process for creating communication, delivery, and exchanging offerings that have value to their customers and clients. The right marketing strategies allow for businesses to grow their brand. The underlying rule is to ensure consumers always get what they want and to always meet the supply of their needs to keep them coming back for more. In any business, marketing, is extremely important to a growing busin...
Inbound marketing is a relatively new concept when compared to its counterpart, outbound marketing. Inbound marketing was created as a solution to fill the needs of the times. Traditionally, the only way to reach your customer base was to put advertisements on the radio, television, magazines, or newspapers and cross your fingers that customers would find their way to your product/service. In contrast, inbound marketing evolved from the technology that is available to the everyday person. It is quicker, faster, and a more reliable type of marketing that ensures that the customer base you are trying to reach gets your message. It even gives the customer a voice to give the marketer feedback in real time -no matter either parties location.
History, Starbucks was chosen because it is an iconic figure in today’s society as well as a successful coffee conglomerate. Starbucks is becoming at the moment an international coffeehouse sensation. Three friends founded it in 1971 which includes Jerry, Zev and Gordon (Archer). These guys were zealous when it came to the notion of retailing what they considered to be the freshest coffee, coffee beans and other related products. Things began changing when these three friends wanted to develop this simple idea into a functional business (Archer).