Aim of Unit 40: International marketing
Unit 40 International marketing focus upon the marketing efforts which could be dealt internationally. The unit would also focus upon the challenges that an organization could face in order to do marketing internationally. The era of globalization has led to create a global economy. For this purpose business could be spread across regional borders. In order to gain international market organizations needs to appreciate the cultures, regulations and politics of cross borders. Strategies on the basis of such market and consumers could be made for smooth running of business in international market. The efforts of marketing could help in getting into the international market successfully.
LO1Demonstrate an understanding of how marketing contributes to business strategies in an international context
LO2Evaluate entry to a selection of international markets and define the key success factors
LO3Investigate how elements of the marketing plan can be adapted or standardised across international markets
LO4Demonstrate an understanding of how to organize 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
In order to understand the international context of marketing focus should be made on its definition and scope. The reason for the internationalization of organizations could be taken as an example for internationalization of marketing strategies. Moreover the macro and micro factors are equally important in determining business strategies. Internalization has become a major achievement for businesses in today’s world. The business strategies which contribute towards the achievement of internationalization along with its factors and objectives could help in better understanding of the topic.
LO2 Evaluate entry to a selection of international markets and define the key success factors
It is very important to choose the correct international market for a particular business. The selection process must be made efficiently and carefully according to the needs of business. The challenges and opportunities that could be faced during such process should also be taken into consideration along with legal and ethical norms. Planning of contingency and risk management also forms a very important part in the selection of international markets. In addition strategies and factors determining success could also be taken into account.
LO3 Investigate how elements of the marketing plan can be adapted or standardised across international markets
Marketing plan for capturing international market would happen if pricing and proper use of technologies are made efficiently. Various technologies like computer software, communication processes have been developed which could be used as promotional tactics. Giving services to people on an international context also comes under the plan of marketing.
LO4 Demonstrate an understanding of how to organize and evaluate international marketing efforts (multinational, global, transnational, meta-national, etc.)
Efforts upon marketing could be made by performing various roles in different zones. The structure of an organization with an international context becomes the first part of the study. Assessments upon international markets, competition and performance will also help in understanding international marketing efforts. Apart from that performing orientation upon international and regional market also comes under the purview of the study.
Learning Outcomes and Assessment Criteria
|LO1 Demonstrate an understanding of how marketing contributes to business strategies in an international context||LO1andLO2 |
D1 Produce a critical evaluation of the international market context, including insight into how organisations should adapt their marketing strategies for various markets.
|P1 Analyse the scope and key concepts of international marketing. |
P2 Discuss the rationale for an organisation to want to market internationally and describe the various routes to market they can adopt.
|M1Evaluate the opportunities and challenges that marketing internationally presents to an organisation.|
|LO2 Evaluate entry to a selection of international markets and define the key success factors|
|P3Evaluate the key criteria and selection process to use when considering which international market to enter. |
P4 Explain,using examples, the different market entry strategies, including the advantages and disadvantages of each.
|M2Apply the market evaluation criteria, entry strategies and make recommendations for a selected organisation.|
|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.)|
|P7 Explain and analyse the various international marketing approaches organisations 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.||D3Make recommendations on how organisations should be structured to maximise the opportunity in an international context.|
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This unit links to the following related units:
Unit1: Business and the Business Environment
Unit18: Global Business Environment
Unit43: Tapping into New and International Markets