International marketing Essay Example | Topics and Well Written Essays - 3000 words - 1

International merchandise - Essay ExampleIn case of IM the firms looks to make their produces available to the international customers. wherefore they have to deal with PESTLE factors of not only one but several other countries. Due to this factors such as tariff barriers, govt. regulations, etc. They besides have to face competition from the international competitors also. But with high risk there are opportunities to earn high returns also in the form of growth, profitability, hazard to earn economies of scale. The study looks to focus upon some of the key issue to be considered by a firm when the firm decides to enter the international market. The company to be discussed is Tesco PLC, the biggest retailer in the UK. During the course of study the probable strategies that could be adopted by the company to expand the business has been discussed using international strategic and market ripple of Tesco (from an international, perspective), Porters diamond model, Uppsala model, country of origin effect and born global model. Marketing Mix 4Ps Framework The concept of marketing mix can be described as the set of manipulable marketing elements that can be used by the company to achieve organisational objectives. The marketing mix consists of four key elements. Neil Borden termed these manipulable elements as the Marketing Mix. In the early 1960s he suggested 12 elements which the company should preserve in mind while formulating marketing program. Then E. Jerome McCarthy delineated the marketing mix as the 4Ps of the marketing mix. In simple terms the elements of the marketing mix can be used to lay the much required foundation for the overall marketing strategy. Product Tesco is one of the major retailers in the world. It provides shelf plaza to the products of some of the major global brands. Along with this the company also provides private label branded products. The product ranges from fresh food, groceries, clothing and apparels, health and beauty p roducts, electronic garments. The vast ranges of products allow the company to target a wide range of customer segments starting from kids to adults. As the company product a vast product mix with lots of variation the company opts for brand positioning as compared to individual brand positioning. Price Tesco mainly uses market dictated pricing. Here it is to be mentioned that with the rise in competition in the global retail market and the recent economic downturn has forced the retail companies to decrease the prices. A break up form this the company also uses promotional pricing techniques, especially in case of clothing products. In the initial days the company adopted a market skimming strategy. Thus the company set high prices for the offerings. But once the competition increased the company had to adapt and shift to market driven pricing. Also the pricing strategy has been influenced by the economic conditions. The market driven pricing has been well punctuated by other pri cing techniques such as promotional pricing. Place It is believed that the Tesco has one of the best distribution strategies. The key factor that influences the