Croud Inc. is a local organisation that is looking to expand their operations in the international market. There is an identification of manner in which this business could expand internationally and determining how marketing contributes to business strategies.
- Demonstrating the manner in which marketing contributes to business strategies on an international level.
- Evaluating the entries to a selection of key market and defining success factors through consideration of Croud Inc.
- Investigating elements of marketing plan can be adapted or to kept standards when offering at international market for Croud Inc.
- Showing an approach through which international marketing efforts could be organized and evaluated.
International marketing is the procedures and techniques through which company can easily sell and promote various products in the market (Ringle, Sarstedt and Straub, 2012). Through this they can easily expand and diversify the business. Hence they can earn more revenues and thus they can easily enhance the market share. When firm expand at a bigger and huge level they can also maintain good reputation in the market and as well as in minds of all users. Project describes about the Croud Inc limited who want I expand their operations on a large scale. It further explain about the the different methods and the business strategies in the international markets. It further describes about the evaluation of the entry of international markets and the key factors which can affect success factors. There is also the investigation of marketing plan which can be adapted or standardized in the international markets and the evaluation of different international marketing approaches that client organization can adopt.
P.1 Scope and key concepts of international marketing
International marketing are the business in which company wants to establish itself and wants to expand itself. Thus they had to increases the efficiency and effectiveness level so that they can maintain unique position in the market. Marketing helps in deliver of goods and services according to needs and demand of user. When small organization have to expand their business operations on large scale. Thus they have to affect effective and efficient strategies and operations so that they can earn more revenues and they can easily enhance the market share. Through this they can easily deliver the products and services to all user.
Croud is the marketing agency which delivers various services to their customers such as social advertising, content marketing, analytical and SEO. Business try to perform innovation in their products and services. Hence as a result they can easily maintain good position in market. Hence manager can put more emphasis on the different and diversified activities so that they can maintain good position in the market. They have to guide and motivate the employees so that they can maintain unique position in the market. They are top deliver good and superior quality of products to many customers. Hence they can meet all demand and requirements and thus they can earn more revenues. Company can expand their activities and tasks in USA (Terpstra, Foley and Sarathy, 2012).Due to this they have to take care of different abbreviations which are related with IM. So hence there various points which company can easily consider at international level. So points considered by Croud are:
Import: In this company can take goods from other countries so that they can easily accomplish their goals (Turnbull and Paliwoda, 2012). Croud is marketing agency which helps in purchasing this hardware system and they can get this software at cheaper rates. So hence as a result they can easily get it a lower costs. Hence they can easily accomplish their targets. It is one of the largest and retail company which s operating in the country.
- Export: Management of the company can perform all the operations and strategies so that they can perform well. Thus company can easily expand their operations and task in USA and thus they can easily export their services to different services (Chung, Wang and Huang, 2012).
- Joint ventures: This is the company in which there are combination of two or more associations. Thus as a result they can easily maintain good and unique position in the market. Croud can perform Joint venture with a US marketing agency. Thus they can easily expand their operations (Czinkota and Ronkainen, 2013).
There are various points and methods through which company can easily target their operations at a larger scale. Thus they can easily expand their activities and task in a better and effective manner.
There are different concepts of international marketing. It includes:
Production concept: In this concept it basically focuses on production. It emphasis on the low price and mass scale of production. Plans and policies are created so that Croud can increase the production.
Product: In this seller only focus on product and its features. They do not emphasis on needs an wants of all consumers. So hence they do not focus satisfaction of all user.
Selling: They focus on selling the product to various customers. Hence they do not want that consumer come again to buy product. Hence they are targeted to new customers.
Marketing: In this seller identifies the needs and requirements of all consumers and then creates product. It delivers product according to user needs.
Societal concept: In this seller delivers products according to their choice and preferences and at same time it considers interest of society also. Thus it fulfils both interests that is of consumers and of society.
M1 Opportunities and challenges marketing internationally present
The company has to find out about the opportunities and challenges that they are going to face as they start operating internationally (Wilson, and et. al., 2012). The company’s manager has the job of understanding these problems properly and get the work done effectively accordingly. Given below are some challenges and opportunities that are usually faced by companies:
In a developed country like USA there are a lot of developed brands. Croud could target these companies and can become a leading media marketing company
Change of foreign rules and regulations is a big challenge for a firm as they get modified with every business section.
USA has favourable climate for working where making profit becomes easy.
Currency rates also become a major problem for the company working internationally as they get modified according to the economic condition of a country.
The risk taking capacity of the company becomes high and they can deal at any market area
Another major problem is political risk as government in some areas is not very supportive
For Cloud, Societal concept can be selected. It selects this concept then it can fulfil needs and wants of all users as well as it can fulfil interest of all people living in society. Through this it can fulfil both interests and thus it can maintain good and unique position in minds of all customers and in society. It do not select other concept as they do not fulfil user's needs (Cadogan, 2012).
P.2 Various routes to market an organization could select
Business is a combination of different and diversified activities and tasks in an belter and effective manner (Yang and Fam, 2012).Thus as a result they can easily accomplish their objectives and targets. Through this they can easily earn more revenues. Croud has a knowledge of different factors and they have knowledge of different factors and they have certain reasons through which customers are attracted and they can become a global marketing agency.
- Domestic market is a small company where they cannot increase their sales. Croud is the largest company who want that it can attract number of different customers from various countries. Through this they can easily expand their operations and activities on a larger scale. Through this they have to create strategies so that they can easily expand their operations.
- Due to limited scale and scope of operations domestic market cannot grow faster as compared to international markets. Hence this is the growth of management of Croud company.
- Cloud is a marketing agency which can easily advertise for different associations. Hence as a result they can advertise their operations at a larger scale.
So keeping in mind these reasons to get into the market world, certain ways that enable them to market internationally must be adopted by the management. This section is important as it support business that leads to the growth and expansion of the organization. The organization has to find proper ways so they can provide their services efficiently to their clients to maximize sales and profit (Zhou, Wu and Barnes, 2012). The different ways to deal at international market are as follows:
Strategic alliance: It is also knows as joint venture consideration in which two different business start working together with each other but in this case one is a big company while another one works in small considerations with the goal of expanding its business and profit (Paliwoda and Thomas, 2013)
- Email marketing: Online marketing media is another important aspect. This is done from the place where the company is operating in all the countries. This approach is important in terms of maximizing the profit as well as expanding the operations with some investment.
From the above two approaches, online platform is more suitable for Croud as the company is also able to deal with clients in different countries too. This enables the company to earn more profit using little more investment and as a result they do not need to make allies with some other big firm of USA.
There are various reasons which help firm to internalize their operation's in various countries are:
Increase their sales: Cloud has to internationalize their operations so that they can increase their sales in less time and they can enhance their profits.
Enter in new markets: They want to internalize their operation's as they have to enter into the new markets. Thus they can attract many new users in less time.
Create Jobs: As they expand their operation's they also want more people to work in their company. Hence they can hire new employees and generate more jobs in economy.
Enlarging consumer base: In this company can targeted to more customers. Thus it can increase the customers by expanding their operations in many countries.
P3 Key criteria and selection process to use when considering which international market to enter
For business to expand and enter a new market, identification of the best suited market area where management wants to expand its operations is needed. For international market evaluation the process requires a lot of considerations and analysis. Therefore the firm has to take account of market considerations properly and start doing business in that area. It becomes essential for Croud to organize appropriate market study so as to make business compete at all other working options (MARKET ENTRY STRATEGIES, 2018). The international market entry process is based on following things:
Country identification: The management has the job to analyse and underpin the market area where the expansion of business will take place. A general overview of market need to be determined so that work could be completed efficiently. For this the under developed, developing, and developed economies need to be distinguished. From these Croud selected developed economy which is USA so that chances of success get maximized (Malhotra, 2011)
Preliminary screening: Screening of economies is done and ranks, number and weight to all the countries is given. For this, stability, exchange rate and other essential factors of macro environment need to be included. USA is evaluated as the best economy in terms of business where many more have achieved success (Meissner, 2012)
- In depth screening: In this stage, in depth screening is done where all the sections micro or macro are studied properly. It also includes evaluation of local condition and climate change which is important to select country which could give better results.
- Final selection: This is the fourth stage in which the country which has good interference and goal for working is selected. Thus the best country to start performing operations is derived.
- Direct experience: In the last stage all the people organize a personal experience. Managers travel to these countries or regions and analyse all sections themselves and then start operating at those locations.
All the above aspects should be adopted by Croud when they start working in USA. This will help in selecting the most suitable region that gives most profit.
Key criteria to enter into market are:
Geographical factors: When internationalizing the operations in many countries. Cloud has to evaluate the climate and land. If there is suitable climate then only it can expand theuyr operations.
Labour and raw materials: Cloud has to monitor that labours can be available at cheaper rate and good quality of raw material can be available so that firm can easily expand their activities.
Growth and profits criteria: In the company evaluate that there can be prospective customers in international countries as then only they can increase their sakes. Thus they can easily enhance their profits.
Transportation: Proper transportation is requires do that products can be delivered item to various customers. This helps in increasing satisfaction level of all users.