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MKT6015 Understanding International Marketing Assessment Answer

BIRMINGHAM CITY BUSINESS SCHOOL UNDERGRADUATE POSTGRADUATE DEGREES

COURSEWORK FRONT SHEET

MODULE TITLEInternational Marketing

MODULE CODE: MKT6015

International Marketing 2019

Drawing on your understanding of international marketing topics, you are required to produce a report of no more than 3000 words to fulfil the following brief.

Prepare an outline marketing plan for a foreign brand, for entry into an international market (100% of marks).

The brand is not limited to any particular sector and not limited to a Singaporean brand. It can be any brand from any country and this brand will enter any country that it is not currently found in.

Please submit the hard copy of your assignment into the Europe Universities’ assignment drop box at Level 2 Wilkie Edge to the right of the Reception Counter (when facing the counter) at the same level. Please tap your Kaplan Student Card when submitting your assignment.

Assessment Guidelines Part One:

1. Evaluation of selected target market gained via secondary
research
10%
2 Suitability of market entry recommendations
10%
3 Suitability of marketing strategy recommendations
20%
4 Suitability of marketing mix recommendations
40%
5 Appearance/layout of report and referencing
10%
6 Understanding and application of international marketing
concepts and techniques gained from engagement with scholarly literature.
10%

Assessment Guidelines Part Two:

  1. The choice of brand must be agreed in advance with your tutor. Any such agreement does not absolve students of the responsibility to ensure that the brand is not available in the UK market.
  2. It is anticipated that the assignment can be completed from public sources information (e.g. databases, annual reports, press reports, websites, and promotional literature). If you wish to contact any organisation, then the explicit prior permission of the module co-ordinator must be obtained
  3. Appendices of not more than 500 words may be attached. Such appendices must contain supplementary information only and should not be used to circumvent the word limit.
  4. The 10% leeway rule on words applies to the main report only not the appendices

Answer

International Marketing 

Introduction

In the given report, the main aim is to understand the international marketing and also evaluate the global industry that would help to justify the strategic positions of competitors (Gutierrez, 2015). International marketing is an important step, but more important is how the international managers are ablet o relate and aim to recognize it.  For any marketing functions, the goals would be centric to the marketing and it would be aimed at the business functions, that would figure out how to deal with the customers. As the international marketing, is an outside domain, it is important to understand how there would be a centric approach, that has to be recognized and aimed at the deliverables and aim for the better insights. It would be aimed at the provision of the advertising, that could be recognized and be able to see, to the selling along with the advertising related to the people and activities. It would be aimed at competing for customers’ that could result in attention and purchases. For international marketing, the main scope of the marketplace, marketing that could be related to satisfying customer needs. It would also be important to understand how there can be marketing as the process to relate with the customers and also ensure how to build strong customer relationships that would be able to capture the value from customers in return.

In the given report, the target company would be IKEA, the product would be furniture which does it yourself(DIY) and the target market would be India, from Sweden, Norway.

Evaluation of India target market 

In most companies, it is important to understand how the domestic market operates and relates to the international market strategy. It would be an overall structure, to relate with the domestic markets which would be more bigger and large enough. It would equally be important to understand how there can be a relative relation to the managers attributes, which would be more adaptive learning that would include the languages and laws, and it would have to face the volatile currencies, it would be responsible to how it would be appropriate to face the challenge of the political and legal uncertainties, along with redefining the products, that would be appropriate to suit the customer needs and expectations. At the same time, to determine the business ways of recognizing the easiest and safest.

To focus on the ways of entering into the target market, it would be important to understand how there can be a potential aim to relate to the marketing dynamics (Hillson, 2017). It would be important for IKEA firms to offer better products or lower prices that could be related to the company’s domestic market. At the same time, it would be important to understand how there can be important dynamics and would be an approach to experience home markets.

The IKEA company has to focus on how to penetrate the different companies and it would be a resultant approach to relate with the foreign markets to evaluate how there can be a major profit opportunity aimed at the domestic market.

The IKEA company can also operate and relate with the base of the customer base that would understand India's economies of scale. The company can focus on the ways to expand, to reduce its dependence along with initiating it with the one market. At the same time, the company can also explore the ways of identifying the customers from the specific domain that could acquire international servicing. It is also important to understand how it could be dynamic to focus on the decision to go abroad. It would be important to understand the foreign regulations along wth the insights to incur unexpected costs

It would also be to explore the basis of the better prospectives and make related access as there would be on the managers that could attain an international experience. The Ikea would be focused on presenting the ideas, that would be more related to the foreign customer preferences along with experiencing a competitively attractive product.

It would be also advocated and be based on how the company would be able to explore and understand the foreign country’s business culture and how it could deal with the adequate deal of foreign nationals (Johnson, 2015)

Market entry recommendations 

For the India, market, the entry recommendation would be based on the standardization that would match with the respected marketing program. It would be important to stress over India's marketing entry recommendation and it would be based on the integrated 4-Ps that could provide a better approach. As India, the market is huge, there is a thriving population, which would aim for the theoretical propositions that would be likely be based on the assumed standardization that would include the entire marketing program. It is also important how the Indian market, would be able to explore the related concepts of the uni-dimensional constructs. It also has to be based on the idea of the related concepts and how it can be presented with the specific dimensions and would focus on the key derivation (Maniatis, 2016). It can be dependent on the integration of the facilitation to the managerial utilization as per the practice. 

As observed, how there would be a related factors of influences there has to be a proper assessment of the structure, that would be based on two new categories such as the one category would be based on the India influences of the macro and micro marketing environment along with providing a better provisional steps for the indirect or direct effect that could be positioned as per the organization’s objectives along with synchronizing the strategies. It also has to be presented and be related to the organization’s motivations that would be understood based on the opportunities that could relate to the business environment. There also has to be based on the standardization and would aim for the adaptation or the combination that could synchronize to the two strategies. The Indian market would ensure, that the internationally acclaimed products, can be supportive of their presence and can aim for the manifestation of contextual along with the motivational factors.

Contextual factors would be based on the given genre on the macro and microenvironment that could be outlined with the two perspectives. There would be based on the perspective and it would be based on the organization that would relatively be constructive and be adopted with the standardization strategy. It also has to be based on the situations that could aim to synchronize with the international markets and it would include the fact that would be fruitful as per the macro environments that could indicate the standardization (Razmerita, 2016). It is important to understand how there can be economic and cultural consistencies that could be related to the international markets and it would aim for the political, include the legislative along with the infrastructural similarities that could indicate the new realities of international business. It would be based on the realities that could be generated and would be based on the progress in communication technologies, and identifying the globalization along with holding the reluctance of the regional economy along with the political integration. The Indian market is more related to the microenvironment factors that would aim for standardization too. 

The Indian market, by targeting the centralized management can help the organization to relate with the people and also be adaptive to the process of the standardization that could be aimed at the center of the factors that could provide the standardization strategy. In another perspective, the Indian market, would aim to provide better provisions that could integrate all such facts such as the perspective, include the other factors and would aim for the organization to create a better adaptation strategy. In another perspective, the company can relate with all the Indian cultural, political set up and would be based on the economic and infrastructural differences that could be related to the identified market of the business environment. It would be governed with the doubled presence and can be estimated to the manifestation of ethnocentrism along with holding nationalism. Overall that a decentralized management system at the organization level point. In India, there can be a better decentralization approach and it would be a better incentive to build the platform.

Marketing strategy recommendations 

The IKEA product should be aimed to provide a better balance of affordability and can make and relate with consumers that could be aimed to make their purchases and at the same time can be helpful to note how there can be the number of sales that could be achieved by the IKEA. It also aims at the profitability target to achieve the objective. It would be a resultant impact that could help to distinguish the set of strategies that could be aspired and related by IKEA. The company can focus on the profitability achievement and it would include the specific pricing based on the resultant ‘shut out’ competitors · Another way of the defined relation to the sales target attained through the pricing. It would be aimed at competing for customers’ that could result in attention and purchases. For international marketing, the main scope of the marketplace, marketing that could be related to satisfying customer needs. It would also be important to understand how there can be marketing as the process to relate with the customers and also ensure how to build strong customer relationships that would be able to capture the value from customers in return. For any marketing functions, the goals would be centric to the marketing and it would be aimed at the business functions, that would figure out how to deal with the customers. As the international marketing, is an outside domain, it is important to understand how there would be a centric approach, that has to be recognized and aimed at the deliverables and aim for the better insights. It would be aimed at the provision of the advertising, that could be recognized and be able to see, to the selling along with the advertising related to the people and activities. The company can aim for the marketing strategy that could provide better recommendations-:

Product adaptation

It would be centric to altering the product and at the same time, it can be aimed to provide the local conditions or preferences. It would be done at the different levels that could relate to the adaptation. A company would be based on the centric approach and it would be more related to the version that could put the Indian comfort. Such as the DIY is a unique concept and the Indian customers would welcome the innovation, which could settle the better version and estimates.

Product Invention

The company can focus on the desired product invention that would be including better incentives.

Backward inventions

It would be focused on the desired ability that could result in the product forms which would integrate the approach that could build by the foreign country’s needs. 

Forward invention

This would be more desirable, as the Ikea would be able to synchronize its products by the resultant approach and make a constructive mark as per the product. It would be an advantage to relate with the developed countries and can aim to deliver with the smooth supply and be able to understand the country's requirements. It can study, the preferences and would aim to deliver with the fruitful product trial and acceptance.

To have the Indian  Marketing Strategy

It would be aimed at the resultant approach to constructively be related to the same advertising and also be based on the campaigns that could use the home market or chang. It would be aimed at the that could help to represent the local market and it would be centric to the communication adaptation strategy. Indian marketing has to be more related to the focus on the product and communication.

It would be aimed to provide a better approach that could engage the company as per the dual adaptation strategy and it would be aimed to provide a better message. It is also there can be a company that could be a resultant approach to making customized levels. The Indian market is vast and can be explored with the related Indianized touch to the products, slogan or simply with the modification to the products or process.

It would be important to understand how the domestic and the international market operate, that be helpful to explore in the substantial geographic or national markets. It would be also evaluating and would be aimed to deliver at the par to the overall global position. It is important to understand and locate the global firm that could aim to provide a better insight to relate with the firm which can operate with more than one country. The international marketing strategy would be aimed for better relations to capture the R & D. production, logistical, includes the marketing, and financial advantages that would be able to integrate the costs and reputation which can aim for the better agenda of the domestic competition.

Marketing mix recommendations

PRODUCT

The company has introduced the “Do it yourself” which focuses on the consumers. It would be more related to how there can be based on the lower cost along with providing the use of packaging. It would be more related to the Asian country's wand introduce the flat-pack distribution channel. It would be important to understand the consumers that would be more related to public transportation and it would aim to affected homes that would be presented with the purchase. IKEA Group it can be more aimed for the product such as the product named can be  “DUKTIG”, that would mean the well behaved and relation to the kids' toy, "EFFEKTIV" meaning efficient.

PRICING

There is also how it can be a centric approach for the individual product Pricing that would be essential fort he marketing mix. The IKEA product should be aimed to provide a better balance of affordability and can make and relate with consumers that could be aimed to make their purchases and at the same time can be helpful to note how there can be the number of sales that could be achieved by the IKEA. It also aims at the profitability target to achieve the objective. It would be a resultant impact that could help to distinguish the set of strategies that could be aspired and related by IKEA. The company can focus on the profitability achievement and it would include the specific pricing based on the resultant ‘shut out’ competitors · Another way of the defined relation to the sales target attained through the pricing.

Economics of Scales

It would be based on the large-scale economies that could be related to long-term producers and can integrate the price cheaper. It would include the destruction of Pricing and have to focus on the “Price Wars”, and at the same time, it would be the promotional Pricing that would relate to the sales process.

PROMOTION 

Based on the given relation to balance the slogans, tags and also aim for the better-devised campaigns. It would have to undergo related advertisement campaigns.

Publicity

It has to be based on the Indian market commitment and would be related to the building the approaches. It can be based on the setup and would relate to the distinguish marketing campaigns and relating to the public events (Watson, 2018).

International marketing is an important event, but more important is how the international managers are ablet o relate and aim to recognize it.  For any marketing functions, the goals would be centric to the marketing and it would be aimed at the business functions, that would figure out how to deal with the customers (Wu, 2015). As the international marketing, is an outside domain, it is important to understand how there would be a centric approach, that has to be recognized and aimed at the deliverables and aim for the better insights. It would be aimed at the provision of the advertising, that could be recognized and be able to see, to the selling along with the advertising related to the people and activities.

Conclusion

It is important to understand and locate the global firm that could aim to provide a better insight to relate with the firm which can operate with more than one country (Wu, 2015). The international marketing strategy would be aimed for better relations to capture the R & D. production, logistical, includes the marketing, and financial advantages that would be able to integrate the costs and reputation which can aim for the better agenda of the domestic competition (Wang, 2016).

In most companies, it is important to understand how the domestic market operates and relates to the international market strategy. It would be an overall structure, to relate with the domestic markets which would be more bigger and large enough. It would equally be important to understand how there can be a relative relation to the managers attributes, which would be more adaptive learning that would include the languages and laws, and it would have to face the volatile currencies, it would be responsible to how it would be appropriate to face the challenge of the political and legal uncertainties, along with redefining the products, that would be appropriate to suit the customer needs and expectations. At the same time, to determine the business ways of recognizing the easiest and safest.

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