Unit 40 International Marketing
Unit 40 International Marketing HND Business
Aim of Unit 40 International Marketing
International marketing is the process of distribution of products and services to a wide range of customers worldwide. This unit focuses on the methods utilised by different organisations towards international marketing. Moreover, the organisations face various challenges in this field and thus they are required to implement strategies that would take the organisation towards success. The organisations are required to acquire knowledge about the political, cultural and regulatory issues that create obstructions in delivering marketing strategies to different nations. This unit also provides information on the impact of the marketing strategies implemented by the organisations on the consumers as well as the organisation.
By the end of this unit a student will be able to:
- Demonstrate an understanding of how marketing contributes to business strategies in an international context.
- Evaluate entry to a selection of international markets and define the key success factors.
- Investigate how elements of the marketing plan can be adapted or standardised across international markets.
- Demonstrate an understanding of how to organise and evaluate international marketing efforts (multinational, global, transnational, meta-national, etc.).
LO1 Demonstrate an understanding of how marketing contributes to business strategies in an international context
International marketing refers to the implementation of marketing principles for satisfying the needs and demands of customers worldwide. Every organisation possess certain underlying principle for acquiring position in the international market. Thus, the organisations are required to identify the needs of their customers so as to fulfil their demands. This section would help in the evaluation of certain factors that influence the internationalisation of the organisations. The organisations further implement marketing strategies for the accomplishment of their objectives.
LO2 Evaluate entry to a selection of international markets and define the key success factors
It is important for an organisation to choose the correct international market to expand its business. For this, the organisation is required to proceed through process of selection of the international market. They are also required to identify the opportunities and challenges as per their strengths and weaknesses including legal and ethical considerations. The organisations are also responsible for preparing a contingency plan and a risk management plan to mitigate the identified risks. Information regarding international marketing strategies and key factors of success would help the organisation to excel in the international market.
LO3 Investigate how elements of the marketing plan can be adapted or standardised across international markets
For entering into an international market, the organisations are required to prepare a marketing plan. This would help the organisation to acquire knowledge about the people, pricing strategy, promotional strategy and advanced technologies that could be incorporated for acquiring a position in the international market. This also focuses on the adaptation of product and pricing strategy of the organisation in the international context. Further, acquiring knowledge about untapped markets would help organisations to flourish in the international market.
LO4 Demonstrate an understanding of how to organise and evaluate international marketing efforts (multinational, global, transnational, meta-national, etc.)
A range of international marketing efforts would help the organisation to establish in the international market. The organisations need to plan an organisational structure on the basis of the international market. Efforts of negotiation are also to be considered while establishing in the international boundaries. The organisations are also required to assess their performance for acquiring a competitive position within the international segments.
Learning outcomes and assessment criteria
|LO1 Demonstrate an understanding of how marketing contributes to business strategies in an international context|
|P1 Analyse the scope and key concepts of international marketing. P2 Explain the rationale for an organisation to want to market internationally and describe the various routes to market they can adopt.||M1 Evaluate the opportunities and challenges that marketing internationally presents to an organisation.||LO1 & 2 D1 Produce a critical evaluation of the international market context, including insight into how organisations should adapt their marketing strategies for various markets.|
|LO2 Evaluate entry to a selection of international markets and define the key success factors|
|P3 Evaluate the key criteria and selection process to use when considering which international market to enter.||M2 Apply the market evaluation criteria, entry strategies and make recommendations for a selected organisation.|
|P4 Explain, using examples, the different market entry strategies, including the advantages and disadvantages of each.|
|LO3 Investigate how elements of the marketing plan can be adapted or standardised across international markets|
|P5 Present an overview of the key arguments in the global vs local debate. P6 Investigate how the product, pricing, promotional and distribution approach differs in a variety of international contexts.||M3 Evaluate the context and circumstances in which an organisation should adopt a global or local approach, highlighting the implications of doing so. M4 Determine and articulate in detail how to adapt the marketing mix of a selected organisation in different international markets.||D2 Produce a critical evaluation of how the marketing mix is applied to a range of international contexts.|
|LO4 Demonstrate an understanding of how to organise and evaluate international marketing efforts (multinational, global, transnational, meta-national, etc.)||D3 Make recommendations on how organisations should be structured to maximise the opportunity in an international context.|
|P7 Explain and analyse the various international marketing approaches organisations can adopt. P8 Compare home and international orientation and ways to assess competitors outlining the implications of each approach.||M5 Evaluate various marketing approaches and competitor analysis in relation to an organisation and make recommendations on how they should operate in an international context.|
This unit links to the following related units:
Unit 18: Global Business Environment
Unit 43: Tapping into New and International Markets