Running head: INTERNATIONAL MARKETING 1

International Marketing

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Institutional affiliation

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INTERNATIONAL MARKETING 2

Table of Contents
Introduction..............................................................................................................................3
1. Task 1: Formal Brief......................................................................................................3
1.1. Market Research Requirements.................................................................................3
1.2. Business Case Justification........................................................................................5
1.3. International Marketing Risks....................................................................................6
1.4. Methods of International Marketing...........................................................................7
1.5. Finance and Pricing issues impact on International Marketing..................................8
2. Task 2: Report................................................................................................................9
2.1. Features of International Markets...............................................................................9
2.2. Operational Considerations for an International Marketing Strategy.......................10
2.3. Characteristics of an International Marketing Strategy............................................10
2.4. Legal Implications of developing an international marketing strategy.....................11
2.5. Amazon’s International Marketing Strategy............................................................12
Conclusion..............................................................................................................................13
References..............................................................................................................................14
INTERNATIONAL MARKETING 3

International Marketing

Introduction

With the major focus on the growth and stabilization of the global economy, a huge

number of enterprises has greatly considered expansion of their operations. This has mainly

included venturing into international business. The move to the global market has pushed for

adjustments on various fronts to ensure that the business adequately fits into the international

venture. This paper is going to elaborate on various aspects of international marketing for

Kickerco business. The vital elements of international marketing will be covered as an eye

opener for the firm as it considers venturing into the international market.

1. Task 1: Formal Brief

1.1. Market Research Requirements

In the aim of getting to adequately understand the consumer behavior, firms are

tasked with meeting various market research requirements. A strategic move should be put in

place to ensure that all the market needs are put into consideration as the business expands

into the international market. Any market researcher aiming at attaining a sufficient market

research needs to consider various elements (Ball et al., 2017). These will determine whether

the result of the research will be adequate for decision making to venture into the new

market.

A clear understanding of what needs to be known is very vital into ensuring that the

market research captures all the information that is going to be critical in developing a

business case. To have the business decision fully influenced, the market research will have

to provide accurate information about the potential market. This should be supported by

sharing all possible prospects upon venturing into the new market (Mayrhofer, 2012). A clear

focus must be considered to ensure that the market research will have an end goal in play.
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The market researcher will need to have their checklist of what they will constantly focus on

during the research to avoid diverting into unnecessary activities.

The research needs to be designed around the critical information need. The financial

implications of implementing the business venture must be considered so that the research

will offer predictions. All researchers should make efforts to make suer that they use the right

sources for all critical information. Methods of engaging the sources should be selected with

scrutiny so that the most suitable ones are implemented (Hartley, 2015). During the process

of collecting information, the researcher should make efforts to show that they value all the

responses. The team involved with the whole market research should be sure to capture all

the relevant and critical information.

Any participants in the research should be subjected to simple and logical language

that has high clarity and is easy to comprehend. This makes it easier for them to give accurate

responses to the raised questions that will give information about the consumer behavior in

the international market. Asking so many questions would put off the participants and should

be avoided. No assumptions should be made about consumer behaviors since this would

result in inaccurate research results (Ball et al., 2017). All the approaches to obtaining

information must be strategized in a way that the best information is adequately captured

from the respondents.

All the expectations in the target market need to be managed by ensuring that the right

information on specific issues is gathered. The researcher should be ready to adequately

communicate with the participants to ensure that the right information is captured. There is

much need to be aware of possible bias from the feedback that is obtained during the research

activity. The customer’s voice should be prioritized more that the business needs. Great care

should be embraced to ensure that the findings are not biased in any way (Hartley, 2015). On

meeting these requirements, the research team will be possible to give proper feedback on the
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customer behavior and expectations to have them taken care of as the business establishes in

the new activity.

1.2. Business Case Justification

Kickerco has a potential to grow in the international market. Having operated in the

national business environment, it is now time to have the business exposed to the

international market environment as it expands its operations regionally. This is going to be a

gradual process to ensure that the business is going to implement its growth strategy as it is

stated in the five-year plan (Santos, 2019). Giving the business time to manage any changes

that will be faced in the international business will be considered to make sure that there will

be minimal drawbacks in the long run.

In the company’s business development plan, international markets are a way to grow

the various revenue streams. Broadening of the customer base by engaging the international

market will open the business to more opportunities. This is going to be a chance for the

Kickerco to utilize its strengths in exploiting the present opportunities in the international

markets (Santos, 2019). Gaining exposure to a different business environment will be an eye

opener to the business on how to broaden its business operations to meet the needs of a

bigger customer base.

Identification of unique opportunities in the international markets is going to be basis

for organizational growth. Exploring the business opportunities in the various international

markets that the business will be involved with will give a chance for growth. New ventures

to meet specific market needs will result in the firm growing more as it seeks to offer what

the customers need (Ball et al., 2017). Business process will be adequately reengineered to

meet specific market needs and this will translate in the business identifying potential

improvements on processes to reduce on resource utilization.

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Venturing into the international market is not only going to give the business an

opportunity to generate revenue but will also aid in the creation of relationships. Interacting

with the various stakeholders involved in the setup of an international market will make the

business known and the network will be growing gradually. It is through these business

relationships that are made that a business can build on brand awareness across the

international markets (Santos, 2019). Constant tracking of the market share will be done to

determine the effectiveness of the approach into the international market. Venturing into the

markets of other nations is going to be a great move by Kickerco to support its growth

strategic plan.

1.3. International Marketing Risks

All business ventures are prone to various risks in relation to their operating

environment. International business is equally subject to specific risks that could be unique

for any operations that are not within the borders of one country. These risks are of a wide

variety ranging from the economic, cultural, and legal perspectives of the international

business environment (Mayrhofer, 2012). All firms are subject to macro environmental

elements that cannot be evaded and may require for specific adjustment for the business

activities to fit in.

Various economic risks are involved with the venture into international markets.

Various countries have varying trends of the economic sector. Business may be good in an

international market that has its economy on an upward trend and vice versa. An unexpected

swing in the exchange rate of the foreign market would mean a lot for the business as it tries

to thrive in the venture. A debt crisis in an international market would subject the business to

high taxes as the government tries to recover (Mayrhofer, 2012). This will lead the business

into having low or no significant margins. Economic risks are very damaging since they may

not only cause the downfall of the business but also of the whole market.
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Cultural risks in international markets revolve around the practices that are embraced

by the locals of the international market. There are certain products and services that may not

be accepted in specific markets because of the cultural beliefs and practices that are in place.

The market niche may be tiny such that the business may take a long time before reaching the

break even point. This risk goes hand in hand with the ethical practices that a firm must

adjust to in the aim of fitting into an international market (Ball et al., 2017). Some of these

locations may have restraining enforcements on ethical and cultural practices that businesses

must follow. The firm must ensure that it adheres to the set guidelines together with its

suppliers and international partners.

Legal risks are another very prominent encounter that international businesses cannot

evade. Each international market has specific statutory guidelines on how businesses from

other nations need to be registered and ran. Restrictions on how far a firm can go into

exploiting the opportunities in the market would be a major drawback to business growth.

Regulations on operating hours would also have the business running on minimum time

hence less revenue is generated in a day (Hartley, 2015). This risk can go a long way into

restraining the business operations and must be seriously taken into consideration when

deciding to venture into an international market. International business will always be subject

to various risks due to the diversity of the business engagements involved.

1.4. Methods of International Marketing

Various approaches have been put in place to implement international marketing. The

entry into an international market is usually in the aim of exploiting a specific opportunity

that is expected to become a revenue stream for the company. International marketing has

mainly encompassed any business activity that happens across the border (Hartley, 2015).

These activities aim at meeting the needs of various global customers who are present in the

international market.
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Direct export is the common method of international marketing. A company produces

their products in their home country and sells them to customers from other countries.

Indirect exporting involves the business selling to a third party who takes care of the

distribution and retail in the foreign market. Licensing has the parent company granting a

license to an organization in the foreign market to produce and sell the product in their brand

name. The parent company then receives all royalty payments. A business may opt to use

contracting which involves getting another company to do the production in the foreign

market. This saves on the costs involved with exportation of the products. A joint venture is

another international marketing method that has also worked out well. Two or more

businesses come together with common goals to exploit an opportunity (Ball et al., 2017). By

sharing of knowledge, expertise, and resources, they come up with a company to operate in

the foreign market and share the profits. These are the most common approaches that have

been put in place for entry into international markets.

1.5. Finance and Pricing issues impact on International Marketing

International marketing has been constantly impacted by issues that rotate around the

economy. The financial status of a foreign market will constantly impact a business that is

running its operations. Countries that are in deep debts tend to have their taxes on all fronts as

high as possible to optimize on revenue collection (Birn & Forsyth, 2018). This in turn

pushes the businesses into having their prices higher than usual to compensate on the high

charges and maintain profits. For nations that have robust financial systems and are stable

economically, running an international business may be a whole different experience. Low

taxes will result in reasonable prices of the commodities.

Pricing of goods and services in an international market is influenced by various

elements that revolve around the business environment. The costs incurred during business

operations directly relate with the commodity pricing. Low costs translate into high prices
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and vice versa. The sensitivity of customers on the pricing also determines the charges that a

business will enforce for various goods and services in an international market (Mayrhofer,

2012). What the competition is offering also determines a lot in the pricing model of all the

other substitutes. International businesses do not want to run prices that will leave them

making losses or will not be reasonable to the customers.

2. Task 2: Report

2.1. Features of International Markets

International markets have been characterized with various elements in the business

world. There is a general broader market for the goods and services compared to local

markets that give businesses limited opportunities. This gives a firm a chance to grow its

operations even more. Intense competition is faced because of the already existing players in

the foreign market. This translates into businesses requiring broader competence as they

setup and run operations (Ball et al., 2017). All businesses in an international market are

subject to various uncontrollable variables which include the external environment factors

prevailing in different countries.

High risks and challenges are involved with the venture into international business.

The firms that engage in foreign markets are subject to various uncertainties that make it

challenging to run business activities. Most international businesses involve large scale

operations to ensure that the firms focus on revenue generation by diversification to make

maximum profits. International business restrictions are a common characteristic that is faced

in all foreign markets that businesses venture into (Birn & Forsyth, 2018). The markets are

highly sensitive with external business factors being strongly influential to the status of

business operations. With the subjection to international regulations and processes, the

process of setting up an international business is lengthy and time consuming. Most of these
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characteristics will be found in almost all foreign markets that various businesses venture

into.

2.2. Operational Considerations for an International Marketing Strategy

The development of an international marketing strategy needs to consider specific

operational elements. All areas of the strategy should aim at making the product stand out in

the foreign market so that it may gain a uniqueness that will build the brand awareness. The

product must be constantly considered so that appearance, quality, and packaging meet the

operational standards of the foreign market. How a product looks may aid much with its

adequacy to customers. Pricing will have to be considered to ensure that reasonable charges

are set with reasonable discounts and credit terms in place. Various promotional activities

need also to be conducted in all available platforms to make the products well known to the

market. High standards of customer centricity need to be enforced to aid much in the

retention of the buyers (Ball et al., 2017). The frontline employees will need to have the

desired customer service skill set to attain this goal. All these are the most important

operational considerations that need to be implemented in the execution of an international

business.

2.3. Characteristics of an International Marketing Strategy

International marketing strategies have been characterized by various elements over

the years. Research is one of the main features that has aided in defining the relevant business

operations for a specific foreign market. The business must adequately establish whether

whatever they are offering is needed in the target market (Birn & Forsyth, 2018). Digging

into the status of the market calls for a lot of research in all aspects to determine the

feasibility of the venture. Infrastructure is another common feature of international

marketing. This is the mainly the channel of conducting business and creating an interaction
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between the business and the customers. If the business wishes to run an ecommerce site,

they are obligated to ensuring that high availability is achieved to attain customer satisfaction.

Product localization needs to be emphasized on to make it more acceptable to the

market. This is achieved by making use of the preferred language on labels, using the most

preferred flavors for that market, and implementing the most embraced distribution channels

in the foreign market. Communication is another key characteristic of international

marketing. It is mainly how the business and the market communicate to each other. The

most efficient means of communication for a foreign market is put in place to pass on brand

awareness and market the product to potential customers (Ball et al., 2017). A set of tools for

inbound and outbound communications is setup to aid in communication.

2.4. Legal Implications of developing an international marketing strategy

The development of international marketing strategies comes with legal implications

attached to it. Businesses are obliged to comply to all the legal regulations that are in place in

the foreign market that they are investing in. Any requirements on licensing, work permits,

taxes, business registration, safety standards, and environmental conservation need to be met.

This will ensure that the firm runs its operations smoothly without having to cross paths with

the law (Birn & Forsyth, 2018). The company may require appointing a lawyer to assist in

any relevant legal procedures during startup and as operations are being ran.

All business operations must be deemed legal and should not break any laws of the

foreign market. It is the responsibility of the management to ensure that all business elements

adequately adhere to the laws of the land. Issues of counterfeiting, confidentiality, intellectual

property, and copy rights must be enforced. All forms of corruption must be eliminated in the

international business strategy to avoid any downfalls in the long run (Mayrhofer, 2012). The

stipulated international standards of running a business ought to be adhered to without fail.

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Running any international marketing strategy will call for adherence to all these legal

elements.

2.5. Amazon’s International Marketing Strategy

Amazon is a well-known global ecommerce business that offers a wide variety of

products and services to its customers. In its strategy to adequately serve the international

market, Amazon embraced the internet as the main tool of trade. The dynamism of

technology has seen the business evolve over the years as people across the world continue to

embrace online business. The growth of the internet and the cloud technology has seen the

company constantly growing its operations (Birn & Forsyth, 2018). The business has put in

place a robust system that gives customers a perfect experience from purchasing through

logistics all the way to delivery. The streamlining of that process has made it easier for the

business to retain its customers.

Since the business operates entirely on the internet, the implementation of various

technologies has made it easier to grow its international strategy. Search engine optimization

has been one way so that the website ranks high in search results. Customers have it as one of

the options they have for online shopping. Social media marketing has made it easier to reach

to a large audience (Ball et al., 2017). Constantly running analytics on site access has given

the business insights on the rates of conversion and this has been a basis for business

adjustments to meet market needs. Amazon has excelled in the running of the international

business.
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Conclusion

International business is a broad venture that calls for scrutiny in so many areas. The

diversity of the discipline has seen it grow gradually to desired levels and this is going to be a

major way to support international trade. All the characteristics of international trade need to

be considered fully as an entity tries to do a setup in a foreign market. It is wise for firms to

invest in knowledge about international business to avoid losses incurred because of legal

actions for violating the set regulations.

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References

Ball, D., Geringer, J., McNett, J., & Minor, M. (2017). International business. McGraw-

Hill/Irwin.

Birn, R., & Forsyth, P. (2018). Market research. Capstone Pub.

Hartley, P. (2015). Business Communication. Taylor and Francis.

Mayrhofer, U. (2012). Marketing international. Économica.

Santos, J. (2019). International business strategy.