Scope and Key Concepts of International Marketing

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.)

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.