Presentation

ALLEN AND HANBURYS LTD’s

Adaptation and Standardization of Marketing Plan across

International Markets

Student Name:

Student ID:

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Speech:

Introduction to International Business

International commerce includes any commercial activities that transcend national
borders. The word "international business" refers to the international purchase and sale
of products and services. The government or a private corporation could own such
commercial channels. Specifically, the corporation will pursue foreign trade
opportunities to increase its manufacturing, mining, construction, agricultural, banking,
insurance, health, education, transportation, and communication operations (Bennett,
2019). Countries once separated by physical distances and economic and social
divisions are growing closer together. The founding of the World Trade Organization by
the governments of numerous nations has played a significant influence in the
expansion of their trade and diplomatic ties. National economies are getting increasingly
integrated into the global economy as the world continues to shrink and become more
interconnected. Increasing numbers of businesses are understanding that conducting

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business on a global scale can bring enormous opportunities for expansion and profit
(Czinkota, Ronkainen, and Moffett, 2014).

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Speech:

Company Background

Allen and Hanbury Ltd.

Foundation: In 1958, Glaxo Laboratories acquired the British pharmaceutical firm Allen
& Hanbury Ltd. Before 2013, this was the name of the specialized respiratory section. In
2021, the corporation that was founded in the 20 th century as Allen & Hanburys Inc.
copyrighted its name in the United States. Silvanus Bevan, a Welsh Quaker, and
pharmacist, founded the enterprise in 1715 at Old Plough Court, Lombard Street,
London. Bevan and his brother Timothy, who later became his business partner and
eventual successor, earned a sterling reputation for their honesty, ethics, and high-
quality narcotics.

Pharmaceuticals: By the end of the eighteenth century, the company had become a
famous pharmaceutical center, gaining significant respect among American medical

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specialists. In 1792, William Allen, FRS, an eminent physicist, and pious Quaker, joined
the corporation and established himself as its leader instantly. His second wife was a
descendant of the historic Hanbury family, ancestors of numerous renowned scientists.
Allen's family, the Hanburys, took over the firm after his passing (MedicinesUK, 2020).

Major Keyworks: Blackcurrant Pastilles from "Allenburys" in its Original Tin The
pharmacologist and business partner Daniel Hanbury, FRS, wrote to scientists from all
over the world to help spread the name of Allen and Hanburys. The corporation grew
steadily over the years, but major transformations did not begin until the second half of
the nineteenth century. Bethnal Green, in the East End of London, and Ware, in the
county of Hertfordshire, both received factories (MedicinesUK, 2020).

Products: The Ware plant, which started in 1892, manufactured infant formula, dietetic
products, medicinal pastilles, malt preparations, and galenical preparations. Allenburys,
which claimed to be the first company in Britain to mass-produce pastilles, had a facility
in Ware where it produced, among other things, Allenburys Glycerine Pastilles and
Black Currant Pastilles, as well as eighty other varieties of medicinal and crystalline
pastilles. The blackcurrant pastilles container for "Allenburys" was later altered. Ware
also made malt extracts and malt preparations, such as the "Byno" preparations that
blend malt extract and cod liver oil. Some were offered as Allenburys Bynol, Torch,
Brand Malt, and Oil, with the pharmacist's name and address prominently displayed on
the package. Allen & Hanburys, a British firm, manufactured cod liver oil for the first time
(MedicinesUK, 2020).

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Speech:

The Local vs The Global Marketing

The Global Marketing: The global vs. local marketing debate centers on the relative
merits of marketing efforts that are standardized across countries (global marketing)
and those that are tailored to the unique requirements of local markets (local
marketing).

Proponents of global marketing believe that their strategy can save money by
standardizing their marketing efforts across all markets. They maintain that, if the

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central message and product benefits are conveyed clearly, a single marketing plan
may be effective in a variety of countries and cultures.

The Local Marketing: Others, however, say that in today's culturally varied and fast
shifting global environment, a blanket approach to marketing is ineffective. They claim
that it is crucial to adapt marketing strategies for each specific market due to factors
such as cultural variations, language obstacles, and different consumer behaviors. They
think that if they focus their marketing efforts locally, they would be able to better
connect with their target audience and cater to their specific interests.

In conclusion, the main points of contention in the global vs. local marketing debate are
around the trade-off between standardization and customization, as well as the capacity
to gain cost savings versus cultural relevance. Factors such as the market for the

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product or service, the nature of the product or service, and the company's resources
will ultimately determine whether a global or local strategy is pursued.

Currently, we intend to introduce Allen and Hanbury Ltd. to Europe. And for this reason,
we must focus on local marketing, as this plan will help us capture the greatest number
of local customers. Consequently, if we pursue a worldwide marketing plan, there is a
danger that we will not be able to attract actual customers, as each market has distinct
preferences, ages, incomes, genders, races, and other aspects. The European market
as a whole will not be uniform, as each country has its market, hence Allen and
Hanbury Ltd. must advertise their goods using a local marketing strategy.

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THE WAY MARKETING MIX DIFFERS IN AN INTERNATIONAL
CONTEXT

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Marketing Mix on Allen and Hanbury

Adapting Allen and Hanbury Ltd's marketing mix to an international setting demands a
strategic strategy that considers the specific needs and preferences of each target
region.

Product: Allen and Hanbury Ltd may need to adapt its product offering to match the
unique requirements and preferences of international clients. To comply with local rules
or cultural standards, the corporation may be required to offer various product sizes,
packaging, or ingredients, for instance (Albert Wesley Frey, 2018).

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Promotion: The corporation may need to adjust its promotional strategy to each target
market. This may entail modifying the messaging and media used to reach customers in
each region, as well as the cultural references utilized in advertising (Albert Wesley
Frey, 2018).

Price: Allen and Hanbury Ltd may need to change its price strategy to account for local
market realities, such as currency volatility and pricing competition in the target market.
Additionally, the corporation may need to consider the purchasing power of customers
in other nations and alter prices accordingly (Albert Wesley Frey, 2018).

Place: The business may need to modify its Place channels to reach customers in
several countries. For instance, the company may need to form agreements with local
distributors or retailers or develop its retail outlets (Albert Wesley Frey, 2018).

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Standardization vs Customization

Standardization: In the Marketing Mix, it is a must to talk about standardization and

customization. The arguments for standardization state that the process of adapting the
product to local markets does little more than add to the overall cost of producing the
product and weakens the brand on a global scale. In today’s global world, where
consumers travel more, watch satellite television, communicate, and shop
internationally over the internet, the world is smaller than it used to be (Bowman, 2014).
Because of this, there is no need to adapt products to local markets. Brands such as
MTV, Nike, and Levis's are all successful global brands where that have a standardized
approach to their marketing mix, all these products are targeted at similar groups
globally.

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Customization: On the other hand, customization means customization of products
according to customers’ needs, such as income, expectations, gender, and many other
factors (Sood, 2016). As Allen and Hanbury Ltd. is going to enter the European market,
we are thinking of choosing customization of products because all sorts of customers
will not have the same capacity for buying and there we need segmentations for
marketing.

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Speech:

THE CONTEXT AND CIRCUMSTANCES IN WHICH AN

ORGANIZATION SHOULD ADOPT (LOCAL VS GLOBAL
APPROACH)
The context and conditions in which an organization should choose a global or local
strategy can be questioned in several ways, including:

Cultural Differences: The success of a marketing strategy is substantially influenced

by cultural variations. In some markets, a global strategy may be more effective, whilst,
in others, a local strategy may be more suitable. Marketing techniques must be adapted
to account for cultural differences.

Market Maturity: The choice between a global and a local approach can also be
influenced by the maturity of a market. As consumers are more familiar with the product
and brand in developed areas, a global approach may be more effective. In emerging

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markets, where consumers may be less familiar with the product and brand, a local
approach may be preferable.

Consumer Behaviour: Consumer behavior can also vary significantly between

markets, which can impair the efficacy of a global or local marketing strategy. To
guarantee that their marketing efforts are successful, businesses must comprehend
consumer behavior in each market.

Resource Restraints: The choice between a global and a local approach may also be
impacted by resource limits, such as funding and labor. A worldwide approach may be
more cost-effective, but organizations with limited resources may not be able to
implement it.

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In conclusion, the context and conditions in which an organization should choose a
global or local approach are complicated and varied, and businesses must consider a
variety of aspects to make an informed decision.

International Marketing Approaches

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Multinational Company

When a company operates in multiple nations, we refer to it as a "multinational

corporation" (MNC). It also meets the requirement that at least 25 percent of its income
comes from international markets. Typically, multinational firms have a central
headquarters that coordinates global administration and a global network of offices,
factories, and other facilities. There are numerous variations in the names of global
corporations. Certain of them may have larger budgets than some small nations
(Malhotra, Nunan, and Birks, 2020).

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Global Company

Businesses with a global presence are referred to as global companies. Many qualities,
such as a company's vast size, extensive product catalog, cutting-edge technology,
inventive marketing, strategic planning, and global reach, can be used to classify
businesses into distinct categories (Majaro, 2014). By establishing subsidiary offices in
other countries, multinational firms expand their manufacturing and promotional reach.
They see a scenario in which they can travel borders and conduct business in the
currencies of numerous nations. These businesses maintain accounting records across
a variety of countries, which are consolidated after each fiscal year (Malhotra, Nunan,
and Birks, 2020).

Transnational Company

Transnational firms and multinational corporations share numerous commonalities. The

primary distinction is that transnational firms often have a decentralized management
structure with many locations in the countries where they operate. In contrast to

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traditional multinational organizations, which are national enterprises with foreign
subsidiaries, transnational corporations divide their operations over multiple nations to
retain high levels of local responsiveness (Majaro, 2014). A transnational firm is
characterized by large-scale activities, international trade, and the absence of a
"corporate home" country. A major advantage of being a multinational firm is the
enhanced responsiveness to local markets in the locations where it operates (Majaro,
2014). A company's transnationality can also be discussed in terms of the value it
provides by spreading its activities to other countries. To remain competitive in the face
of rising globalization, many managers have chosen to expand their companies'
transnational presence by hiring senior executives from a range of countries and
seeking to make choices from a global viewpoint, rather than from a single location. The
objective of strengthening international ties can be promoted by transnational
collaboration. Transnationality promotes the global rePlace of concentrated resources in
certain nations (Malhotra, Nunan, and Birks, 2020).

Multidomestic Company

A multi-domestic company is a type of multinational corporation that operates

independently in each country or region where it has a presence, rather than having a
centralized, global strategy. Each subsidiary is responsible for its own products,
marketing, and operations and operates in its local market as if it were a separate,
domestic company. This approach allows companies to tailor their operations to the
unique characteristics of each market and respond to local competition, but it also
makes coordination and consistency across markets more challenging (Malhotra,
Nunan, and Birks, 2020).

By entering into the European Market, Allen and Hanbury Ltd. is thinking of becoming a
multinational company headquartered in the United Kingdom. By becoming an MNC, we
will be able to spread our business in a vast area and the original control will remain in
our hands.

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Marketing Orientations of International Marketing

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Home orientation refers to a focus on the domestic market, while international

orientation refers to a focus on the global market.

Ethnocentric Approach

A business with an ethnocentric orientation would expect that its domestically

successful products, marketing strategies, and procedures will also be successful in
overseas markets. All of a company's worldwide marketing initiatives are coordinated
and carried out with minimal modifications to product development, specifications, price,
Place, and promotion. For example, Walmart consistently offers the same assortment
(Malhotra, 2019).

Regiocentric Approach

In a regiocentric approach, rather than focusing on individual nations, a corporation

implements a regional marketing campaign that encompasses a cluster of nations that
share economic, cultural, or political similarities. In this regard, Russia, Ukraine,

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Slovenia resemble one another in appearance and culture. There is a strong sense of
regional pride among the populace (Malhotra, 2019).

Geocentric Approach

Businesses with a geocentric orientation market to "global consumers" who share their
values and tastes worldwide. One can approach the global market either geocentrically
or regiocentrically, with the latter needing a lesser scale of activity. With its different
product lines, Nokia, for instance, caters to a universally constant consumer base
(Malhotra, 2019).

Polycentric Approach

A "polycentric approach" means using a country-by-country approach to global

marketing or spreading commercial operations across numerous international markets.
In a world where countries have radically varied economies, political systems, and
cultural values, the best way to collaborate is through a polycentric approach.

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McDonald's, for example, offers regional delicacies in India, Italy, and Canada, like the
Maharaja Mac, the McItaly, and the McLobster (Malhotra, 2019).

Before entering the international market, it is a must for a firm to target which kind of
orientation they are going to use. Allen and Hanbury Ltd. is thinking of choosing the
ethnocentric approach for its business because we are thinking that the products will be
equally successful in the international market like the local market. So now we will just
take care of the very minimal change which will be needed for the specific local market.

Speech:

Ways to Assess Competitors

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Numerous techniques exist for evaluating the competitors, such as:

Market Research: To gain an advantage over the competition, it is important to conduct

market research to learn about their strategy, tactics, and market share. Methods such
as polls, focus groups, and sifting through secondary sources like company reports and
market data might help in this endeavor.

Competitor Analysis: The term "competitor analysis" refers to a thorough investigation

of the businesses that are in direct competition with a given firm. This requires
researching the products, prices, marketing methods, and target demographics of the
competition.

SWOT Analysis: Analyzing one's company's strengths, weaknesses, opportunities, and

threats using a SWOT analysis is a useful technique. In the context of competitors, this
can be used to better appraise their strengths and weaknesses.

Customer Feedback: Information about competitors' goods and services can be

gleaned from customer reviews. This data can be gathered through social media
listening, customer service encounters, and surveys.

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Online visibility: A company's website, social media platforms, and reviews can reveal
a lot about its marketing approaches and how customers feel about the brand.

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The Limitations and Benefits of Various Marketing
Approaches and Competitor Analysis
International marketing strategies and competitive analyses can have a substantial
effect on the mission and orientation of a firm. Here are some advantages and
disadvantages of foreign marketing strategies and competitive analysis:

Speech:

Global marketing approach:

 Advantages:

Cost savings resulting from economies of scale

Increased brand uniformity across markets

Utilization of a single marketing strategy

 Limitations:

Not necessarily culturally sensitive or pertinent to local markets.

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A universal strategy may not be effective in all markets.

Possibility of alienating local clients due to a lack of cultural resonance.

Local marketing approach:

 Advantages:

Ability to adapt marketing activities to local market requirements and cultural variances

Increased client interaction and comprehension of regional market demands

Enhanced brand image and consumer loyalty

 Limitations:

Due to the necessity of tailoring marketing efforts to each market, expenses are
increased.

Maintaining brand consistency across many markets is challenging.

Conflict potential with global marketing methods.

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Transnational marketing approach:

 Advantages:

Capacity to strike a balance between standardization and customization in marketing

efforts

Enhanced customer engagement and comprehension of local market requirements

Economies of scale allow for savings in certain sectors.

 Limitations:

Comparatively more difficult and resource-intensive than global or local marketing

strategies.

Conflict potential with global or regional marketing tactics

Inability to achieve a balance between standardization and personalization in all

markets.

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The following are the benefits and limits of competitor analysis:

 Advantages:

Enhanced comprehension of rival strategy, market share, and behavior

Capability to make judicious marketing and business practice selections

Enhanced capacity to adapt to competitor actions and remain competitive

 Limitations:

Time-intensive and resource-intensive

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Reliance on secondary information sources, which may not always be reliable or
current.

Risk of becoming excessively focused on competitors, as opposed to the organization's

own aims and purposes.

In conclusion, the decision between global, local, and transnational marketing tactics
and the usage of competition analysis will depend on the organization's mission,
direction, and resources, as well as its objectives. Companies must evaluate the
advantages and disadvantages of each technique and decide based on their own needs
and circumstances.

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Reference list

Aaker, D.A. (2011). Brand relevance making competitors irrelevant. San Francisco,
Calif. Wiley.

Adams, V. (2017). Global Vs. Local Marketing. an Analysis of the Usefulness for Global
Companies. Grin Publishing.

Albert Wesley Frey (2018). The Effective Marketing mix; Programming for Optimum
Results. Hanover, N.H.] Amos Tuck School Of Business Administration.

Bennett, R. (2019). International business Principles. London: Financial Times

Management.

Bowman, D. (2014). Market Response and Marketing Mix Models : Trends and
Research Opportunities. Boston: Now.

Czinkota, M.R., Ronkainen, I.A. and Moffett, M.H. (2014). International Business.
Hoboken (N.J.): Wiley.

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Johansson, J. (2011). Global Marketing: Foreign Entry, Local Marketing, and Global
Management. McGraw-Hill/Irwin.

Majaro, S. (2014). International marketing : a strategic approach to world markets.

London: Routledge.

Malhotra, N.K. (2019). Marketing research : an applied orientation. Harlow, England

Pearson.

Malhotra, N.K., Nunan, D. and Birks, D.F. (2020). Marketing Research : an Applied
Approach. 6th ed. Harlow, England ; New York: Pearson.

MedicinesUK (2020). All Medicines for Allen & Hanburys Ltd - (emc). [online]
www.medicines.org.uk. Available at: https://www.medicines.org.uk/emc/company/5#gref
[Accessed 6 Feb. 2023].

Sood, S. (2016). Brand Equity and the Marketing Mix : Creating Customer Value.
Cambridge, Mass.: Marketing Science Institute.

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