International markets are changing rapidly with increasing trends of global business. Global markets give the company the opportunity of magnifying themselves towards fostering competitive advantage. However, success of global industries is highly dependent on their effectiveness of international marketing. International marketing is effective application of marketing principles to satisfy the need and demand of the customers across the national boundaries (Gomez, Sherard and Rosenberg 2016). Right international marketing techniques can optimize the global marketing opportunities and marketing performance of global industries. Proper market entry strategy, effective targeting of market, marketing elements can lead to high level of international marketing performance (Bragg et al. 2017). This dissertation proposal is concerned with assessing the most suitable marketing techniques in the global industries. Moreover, dissertation proposal will evaluate both suitable international marking entry strategy and marketing techniques for the global industries. In order to assess the global marketing techniques, the research will select some global companies from different industry for conducting research on them.
Over the last few decades, the reputed organizations of different industries are highly inclined to seek marketing opportunities in global markets. Global markets have become the right platform for the organizations to gain high level of competitive advantage. Hence, such organizations have given immense importance on their international marketing market entry strategy and marketing techniques for success operating their international business operation. Contemporary international marketing techniques have gone beyond just selling the products and services to the global customers (Brouthers, Nakos and Dimitratos 2015). Moreover, contemporary global marketing techniques are highly emphasized on providing customized products and service to the customers, selecting appropriate customer segment, building good relationship with the customers, effectively promoting the products and service to them. Global companies are extremely conscious about choosing the best international marketing strategy for accessing most useful organizational resources in global markets (Jean et al. 2016). Furthermore, the global industry focuses on leveraging their company assets and products globally and adapts with the unique and different customers demands of each global market.
Effective international marketing technique is the key for the success of global industries in global markets. The global industries must crucially choose the marketing technique for their global markets to adapt with the uniqueness of global customer demand (Schmid, Grosche and Mayrhofer 2016). Hence, such industries should be highly concerned about the most suitable marketing techniques, which can be effective for them in order to meet the unique demands of the global customers and gain high level of competitive advantage. This dissertation will be concerned with evaluating the most suitable international marketing techniques for the global industries. The focus of the research will also be on selecting the most suitable international marketing strategy keeping up the level of international business performance. Hence, this dissertation is extremely significant for the global industries for suggesting them to most reliable and suitable marketing techniques best for them.
With increasing trends of globalization, most of the well established and reputed organizations are being highly inclined towards expanding their business in global markets. However, choosing right global market and most suitable marketing techniques have become an ever increasing problem for the global industries to get high level of global business success. The complex nature of global markets often makes the global industries confused about choosing the right marketing techniques. Most of the retail, food and fashion companies are facing issues in choosing right international marketing elements for gaining competitive advantage in global markets (Samiee, Chabowski and Hult 2015). This dissertation will highlight on those issues for assessing the most suitable marketing technique for them.
What is the Issue?
In the current situation, the global industries are facing extreme issues in choosing right international market entry strategy and marketing techniques for gaining global competitive advantage. This research will be helpful in identifying those issues and recommending most suitable marketing techniques for global industries.
How and when it is going to be inspected?
In order to identifying the most suitable international marketing technique, this dissertation will conduct research on most reputed global companies from different industries of United Kingdom. Moreover, the research will identify their issues of international marketing and recommend most suitable international marketing technique for these global industries.
What would be the research shed light?
The dissertation will focus on the most relevant international marketing techniques for the global industries of United Kingdom. The recommended international marketing techniques will perfectly handle the critical situation of global industries towards operating successfully in global markets.
The aim of the research is to understand and study the market entry strategy and marketing techniques used by the global industries to expand and develop globally.
What are the most suitable international market entry strategies and marketing techniques in global industries?
International marketing techniques encompass the techniques, which are most used to satisfy the unique needs and demands of global customers. According to French and Russell-Bennett (2015), international marketing techniques integrate the marketing efforts applied in different international markets and customize the product offerings as per different customer preferences of global customers. Moreover, Felzensztein et al. (2014) opined that marketing techniques of global industries are intended to adapt with the uniqueness and differences of the global customers. The global markets can be the most effective platform for the global industries towards gaining high level of competitive advantage through application of most suitable marketing techniques.
Market selection is the most significant component of international marketing technique, as it is not possible for the organizations to enter in all the existing markets. Several factors like political restriction, product specification, market accessibility, special requirement, distant location and business community affect the selection of international market. Based on such factors, the organizations choose either polycentric or regiocentric and geocentric approach for selecting best market for them. Polycentric approach is concerned with selecting several most important foreign markets (Kuazaqui 2015). Regiocentric approach is concerned with selecting several large economic regions and geocentric approach consider world as large global market.
Market strategy is planned method of delivering goods and services to the target market and distributing them there. One market entry strategy cannot work for all global markets. According to Richter et al. (2016), direct exporting strategy produces products or services in home market and sells them directly to the global target market. The potential profits of the global industries are quite greater, as this strategy eliminates the needs of intermediaries. On the other hand, Backer and Morrison (2015) opined that licensing is a kind of sophisticated arrangement, where global organizations transfer the rights of using the products and services to other organizations. It is beneficial for the global organizations, when the purchaser of license has large larger market share in the targeted global market. In franchising strategy, the parent organizations allow some other firms in global market to use their trademarks and ownership for serving the global customers. Tesco uses franchise strategy for entering in Indian and Malaysia. Papasolomou, Kitchen and Christofi (2017) stated that partnering strategy is concerned with making partnership with an organization in global market for collaboratively but independently operating global business. Swire Group of United Kingdom has adopted partnering strategy for operating the Shanghai. Furthermore, the global industries can also adopt joint venture market entry mode for entering in global market, where a parent company makes a third independent company by joining with other company in global market.
The intension of international marketing techniques is to attract the global customers and create competitive advantage in global markets. Cluley (2016) opined that global marketing techniques help the global industry to customize their products and service as per the unique needs and demands of the global customers. Moreover, there is no specific definition of international market, as it is all about adapting with the uniqueness of the global market for gaining competitive advantage. On the other hand, Ramasobana, Fatoki and Oni (2017) opined that effective international marketing techniques enhance the market appearance of products and services to the global customers. Hence, such techniques help in encouraging the purchasing intension of global customers towards increasing sales of international business. Effective customer relationship strategy is intended towards building and maintaining good relationship with the global customers and leading global customer loyalty.
Marketing research is the most important part of international marketing, which can be extremely complicated. Wedel and Kannan (2016) opined that most of the global companies concentrate on outside data for helping their business decision regarding global business. Moreover, wrong perception regarding product fit with the global companies can lead to failure of global business. On the other hand, Lu, Pattnaik and Shi (2016) opined that lack of adaption in marketing and sales channels can lead to failure of international marketing technique. Such lack of adaption results in brand inconsistency in different international markets. The global industries can only attain global business competitiveness through proper fit between product offerings and global markets. However, most of the global companies are inclined to launch same products and service for varying global markets. It ultimately leads to misfit between the product offerings and markets. Furthermore, Haryani, Motwani and Sabharwal (2015) pointed out that the chances of global advertisements being misunderstood are great because of cultural differences among the customers in global markets. Global industries can also face the issues of pricing because of different levels of competition in the global markets. Apart from that, Alves, Fernandes and Raposo (2016) opined that the global industries may also face issues in terms of selection of distribution channels. Moreover, the global organizations often wrongfully select distribution channels without considering the preferences of the customers.
In order to launch product in global market, the global industries should use standard marketing mix and adapt marketing mix as per the differences in the markets. The general aim of global product strategy is to meet needs of the global target market. According to Katsikeas (2014), the global industries must consider the cultural background, buying habit, religion and levels of disposable income of the global customers before developing products for them. Moreover, the global firms should adapt their product development for satisfying the local requirements and demands of the global customers. While considering the evidence of Coca Cola Company, it can be seen that the organization add sweet in their drinks in varying portion for different countries depending on the customer preferences.
Gnizy and Shoham (2014) opined that global industries must consider the cost of product development in the international markets based on fixed and variables cost for determining the global pricing of products. The organization must also determine the competition prevailing in the international market for similar types of products of other companies. Moreover, Fan, Lau and Zhao (2015) stated that the global customers are always inclined to compare the price of global products with their local product before taking any purchasing decision. While considering the example of Marks and Spencer, the organization has adopted competitive pricing for its international market, where the prices of the products are set based on the competitors’ prices.
The success of global business is highly dependent on customer convenience of the product and service at right place at right time. Papasolomou, Kitchen and Christofi (2017) pointed out that the global industries should adopt the distribution channels based on the availability of distribution channels to the global customers. USA prefers product movement from manufacturer to wholesaler to retailers for reaching at the target customers. Hence, the global industries operating in this country must follow this distribution channel to offer products to the customers. Furthermore, Wedel and Kannan (2016) opined that promotional message should accustomed as per the differences cultural attitude, political climate, religious practices and technological assess of the customers of different international countries. While considering the evidence of Tesco, the organization has become more focused on social media promotion for promoting products in USA market because of increased usage of social media sites among the customers. On the other hand, in China, the organization uses mix of social media and mass media promotion for increased exposure of products to the customers.
International market segmentation strategy involves separation of wide target customers into subset of customers or nations based on their common characteristics, requirements, choices and preferences. In demographic segment, the global industries segment global customers based on their age, gender, education, occupation and income. Moreover, target market is segmented based on the revenue and numbers of employees, sector of business and country. On the other hand, French and Russell-Bennett (2015) opined that behavioral segment strategy segments the international customers based on their attitudes, knowledge and response to the products. It is the best beginning point of building the market segment of the global companies. Furthermore, Kuazaqui (2015) pointed out that psychographic segmentation strategy segments the international customers based on the personality, attitude, lifestyle and other preferences of the customers. Moreover, the global industries use the activities, lifestyle and interest of the global customers for choosing them as their customers. Cluley (2016) pointed out that global industries must prefer differentiated targeting strategy rather than undifferentiated targeting strategy for meeting the core needs of the global customers. In such targeting strategy, the global industries should target different international target markets with specific product mix for meeting the customized demands of the global customers.
Relationship marketing is the strategy of fostering customer loyalty, interaction and long-term customer engagement. According to Haryani, Motwani,and Sabharwal (2015), the goal of customer relationship marketing is to create strong emotional customer connection to a brand for leading ongoing business, free word of mouth promotion from the customers, which can generate customer lead. Moreover, such marketing technique focuses on increasing volume of individual sales. On the other hand, Gnizy and Shoham (2014) opined that the global industries can build effective customer relationship marketing through provide usages of social media and wide information on the web. Such technique can also assist the global industries to better know about the customized preferences of the global customers. Hence, these industries can provide customized products and services to the global customers for gaining competitive advantage.
Diversity marketing is the most important international marketing technique for global industries, where the global industries connect with different global customers in different ways. As per Gomez, Sherard and Rosenberg (2016), diversity marketing technique acknowledges that marketing and advertising must offer alternative ways for communicating with diverse employees in different international markets. Moreover, the global industries should offer products and services based on the cultural, religion, attitude, interest and preferences of diverse customers in global markets. On the other hand, Schmid, Grosche and Mayrhofer (2016) opined that diversity marketing technique always tries to adapt marketing strategies based on the multicultural aspects of different global markets.
Research strategy is the planned action of giving direction, thoughts and efforts towards successfully conducting a particular research. Such research strategies are adopted for gathering most suitable information regarding topic of the research. The most commonly used research methodologies are like “focus group”, “case study”, “survey” and “interview”. In focus group, the interview questions are asked to group of people regarding their attitude, belief and opinion about the topic of the research (Lewis 2015). On the other hand, case study strategy is associated with selection of most suitable and relevant case study based on the topic of the research.
Survey strategy is mostly used for gathering quantitative data regarding the research topic from the selected respondents. In such strategy, survey questionnaires are formed based on topic of the research. Such survey questionnaires are distributed among the selected respondents for collecting most relevant research information from them. On the other hand, interview strategy is concerned with conducting interview session with the organizational heads of the concerned organizations relevant to the research topic (Choy 2014). This dissertation proposal has selected interview strategy for collecting qualitative information from the organizational heads of the global industries. Such qualitative research strategy will provide detailed information regarding the suitable international marketing techniques followed in the global industries.
Research design integrates all the efforts towards conducting successful research paper. Research approach helps in collecting most relevant and accurate research information for reaching at desired research result. Two popular research approaches are like inductive and deductive. Inductive approach helps in designing new and innovative theories and models and gathering most suitable research information. On the other hand, deductive approach helps in using previously designed theories and models for gathering authentic research information (Lushey and Munro 2015). This dissertation will be focused on using deductive approach for accessing accurate research information. Such strategy helps in saving the time and money of the research towards its successful completion.
Research design is extremely important for understanding the proper meaning of the research topic. It enhances the knowledge regarding different research variables. Most commonly used research designs are like explanatory, exploratory and descriptive research. Explanatory design facilitates in assessing core relationship among different research variables of the research topic. Hence, it is quite helpful in linking one research variable to other for conducting the research in effective manner. Furthermore, exploratory research assesses the background of the research topic. Hence, this design identifies the current issues associated with the topic of the research (Dumay and Cai 2015). On the other hand, descriptive design provides proper explanation of the research topic. Hence, this design will be selected in this dissertation proposal, which will facilitate in establishing proper research questions and objectives.
Compliance with ethical consideration is extremely important for successful completion of research paper. In this research, it will be ensured that no selected respondents will be forced to participate in the data collection process. Moreover, the respondents will not be forced through any way towards providing information. The participant will be allowed to leave the process anytime after enlisting their name in the process. Furthermore, it will be ensured that all the data collected from the respondents will be used for personal purpose and not for any commercial purpose. The data collected from the respondents would be protected any unethical usage. Lastly, the research will maintain the data protection acts for protecting the collected data from unauthentic access.
Every academic research may have some research limitations that can hamper the overall result of the research. Likewise, the research paper may also face some limitation towards its successful completion. Most importantly, this research may face the limitation of time constraints. It may not be possible to gather adequate numbers of respondents to gather most suitable research information. Hence, it can hamper the overall result of the research. On the other hand, the research study may also face the limitation of monetary constraints. In such limitation, it may not be possible to gather more numbers of authentic secondary sources for collecting most authentic secondary information regarding the research area. Hence, such limitation can also hamper the ultimate research result of the research.
Data collecting is extremely important for gathering most suitable information about the research (Farooq and O’Brien 2015). This research will use secondary sources for collecting secondary information on the most suitable marketing techniques in global industries. It will help in constructing effective literature review of the research paper (McCusker and Gunaydin 2015). Such secondary information will be gathered from the authentic journals, books and websites. However, this research paper will mostly be based on primary method of data collection. In this method, interview technique will be selected for collecting most useful information from the organizational heads of the global industries. The research paper will select 5 managers from the global companies of different industries for assessing their international marketing techniques. These five companies will be like Tesco, Unilever, Vodafone, Marks and Spencer and Glencore companies of United Kingdom, who are also operating in global markets. The research paper will use observation and narrative analysis of interview transcript generated in the interview session with the 5 managers of different global organizations.
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