MKT 6215 Global Marketing Management Assignment Brief

MKT 6215Global Marketing Management Assignment brief Individual projects

Suggest a foreign company / brand that is selling in the UK marketplace. Discuss the factors that made the UK an attractive market for the company / brand, considering company vision, mission, and values; triggers for export initiation; environmental analysis (macro, micro, meso); entry mode; market attractiveness (STP, competition); standardization/adaptation of the marketing mix (product, place, price, promotion); and significant changes made for successful trading in the UK.

Paper For Above instruction

International business involves cross-border transactions including buying and selling raw materials, inputs, or finished products, operating plants in foreign countries, and financing operations across borders. Unlike domestic business, international trade requires adapting to different legal, economic, and cultural systems, currency conversions, and product adjustments. A truly global firm leverages technology, adapts to political changes, and maintains a broad 'global mindset' in supply chains, markets, and customer engagement (Johanson & Vahlne, 2009).

Choosing a foreign company/brand operating in the UK requires understanding the factors that make the UK an attractive market. Factors such as the company's vision, mission, and values influence its strategic approach. For example, a company with a strong commitment to sustainability will find the UK's regulatory environment and consumer preferences favorable for eco-friendly products (Kotler et al., 2015). Triggers for export initiation may include saturation of home markets, competitive pressures, or strategic expansion objectives (Cavusgil et al., 2014).

The environmental analysis encompasses macro, micro, and meso factors. Macro-environment factors include economic stability, legal framework, cultural norms, and technological infrastructure. Micro-environment analysis assesses the company's internal strengths and weaknesses, while meso factors examine industry-specific dynamics such as competitors, suppliers, and customers (Porter, 1980). For example, the UK’s mature retail sector and high consumer spending are micro and meso-level attractions.

Entry mode decisions are critical. Options such as direct investment, partnerships, franchising, or exporting require balancing control, risk, and resource commitments. For instance, a company might choose joint ventures for local market knowledge or franchising for rapid expansion with lower risk (Root, 1994).

Market attractiveness involves segmentation, targeting, and positioning (STP). Companies analyze customer demographics, preferences, and behaviors to identify segments. Competitive analysis pinpoints direct rivals, market share, and differentiation strategies. Consideration of various factors like consumer needs and competitive intensity guides market entry decisions (Kotler & Keller, 2016).

Standardization versus adaptation of the marketing mix depends on product type, cultural differences, and market expectations. For example, product features may be standardized for global brands, but packaging, pricing, and promotional strategies often require localization to suit UK consumers (Levitt, 1983). A foreign brand may adapt its pricing to reflect local purchasing power while maintaining core brand messaging.

Significant changes for success in the UK can include product reformulation, packaging modifications, pricing adjustments, or promotional campaigns tailored to UK culture. For instance, a beverage brand might introduce sugar-free options in response to dietary trends or localize advertising to appeal to UK sensibilities (Hollensen, 2015).

In conclusion, expanding into the UK market requires thorough analysis of both internal capabilities and external environment, strategic choice of entry mode, and careful adaptation of marketing elements. A combination of standardized core offerings with localized marketing strategies often provides the best pathway to successful international expansion.

References

• Johanson, J., & Vahlne, J.-E. (2009). The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership. Journal of International Business Studies, 40(9), 1411–1431.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). International Business. Pearson.
• Porter, M. E. (1980). Competitive Strategy. Free Press.
• Root, F. R. (1994). Entry Strategies for International Markets. Lexington Books.
• Levitt, T. (1983). The Globalization of Markets. Harvard Business Review, 61(3), 92–102.
• Hollensen, S. (2015). Marketing Management: A Relationship Approach (3rd ed.). Pearson.
• Johanson, J., & Vahlne, J.-E. (2009). The Uppsala internationalization process model revisited. Journal of International Business Studies, 40(9), 1411–1431.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). International Business. Pearson.