Unit 40 International Marketing.docx

Unit 40 International Marketing.docx - Pearson BTEC Levels...

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Pearson BTEC Levels 4 and 5 Higher Nationals Diploma in Business (RQF) Unit 40: International Marketing Submitted By Student Name: Md Lutfur Rahman Student number: 26091614120 Submitted To Mr R Chowdhury/Mr. Shifan Razick 1 | P a g e
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Table of Contents Introduction ...................................................................................................................................... 4 P1: Analyze the scope and key concepts of international marketing ............................................... 4 P2: Explain the rationale for an organization to want to market internationally and describe the various routes to market they can adopt .......................................................................................... 6 M1: Evaluate the opportunities and challenges that marketing internationally presents to an organization ..................................................................................................................................... 9 P3: Evaluate the key criteria and selection process to use when considering which international market to enter ............................................................................................................................... 11 P4: Explain, using examples, the different market entry strategies, including the advantages and disadvantages of each .................................................................................................................... 14 M2: Apply the market evaluation criteria, entry strategies and make recommendations for a selected organization ...................................................................................................................... 18 D1: Produce a critical evaluation of the international market context, including insight into how organizations should adapt their marketing strategies for various markets ................................... 18 P5: Present an overview of the key arguments in the global vs. local debate ............................... 19 M3: Evaluate the context and circumstances in which an organization should adopt a global or local approach, highlighting the implications of doing so ............................................................. 19 P6: Investigate how the product, pricing, promotional and distribution approach differs in a variety of international contexts .................................................................................................... 20 M4: Determine and articulate in detail how to adapt the marketing mix of a selected organization in different international markets ................................................................................................... 23 D2: Produce a critical evaluation of how the marketing mix is applied to a range of international contexts .......................................................................................................................................... 24 Presentation on P7 and P8 ............................................................................................................. 24 P7: Explain and analyze the various international marketing approaches organizations can adopt ....................................................................................................................................................... 30 2 | P a g e
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P8: Compare home and international orientation and ways to assess competitors outlining the implications of each approach ....................................................................................................... 32 M5: Evaluate various marketing approaches and competitor analysis in relation to an organization and make recommendations on how they should operate in an international context. ....................................................................................................................................................... 34 D3: Make recommendations on how organizations should be structured to maximize the opportunity in an international context .......................................................................................... 35 Conclusion ..................................................................................................................................... 36 References ...................................................................................................................................... 37 3 | P a g e
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Introduction Marks & Spencer plc is a major British multinational retailer which headquarters is situated in the City of Westminster, London. It was first founded by Michael marks and Thomas Spencer in 1884. It is a famous international company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company especially sells home products, clothes, and luxury food products. It also launches famous branded products like Kellogg’s Corn Flakes from November 2008. They are promised to provide the best of M&S Clothing and Home appliance, and highly delicious foods around the world. They targeted their physical stores and online shop to promote their business across Europe, the Middle East and Asia.
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