SOUL CHAIN: Marketing Research Report on International Market Entry

This marketing research report analyzes SOUL CHAIN, a UK-based online food delivery service, focusing on its current local marketing strategy, including product, price, place, and promotion elements within the marketing mix, as well as its STP approach, including segmentation, targeting, and positioning. The report identifies the American market as a key opportunity for international expansion, highlighting the growing demand for food delivery services. It analyzes potential market entry modes, emphasizing the advantages of online marketing and minimal asset investment. The report provides recommendations for international marketing strategies, considering competitive pricing, digital marketing, and customer satisfaction to achieve growth and success in the American market. The report concludes that SOUL CHAIN should leverage digital marketing and customer satisfaction to expand its business operations.

Marketing Research

EXECUTIVE SUMMARY
Marketing is significant business functions that is created, keep and satisfy the customers.
Every business enterprise performs market research to gain information about its potential
customers and their requirements. This aids organisation to develop effective marketing
strategies to achieve the business objectives. Present report is based on analysis of market
research of SOUL CHAIN which is online food delivery service provider. Present market
analysis has provided understanding that start ups have achieved growth in business. SOUL
CHAIN is actually a B2C that is business to customer's organization. Findings of report has
provided understanding that company needs to expand their business in America as international
market as they will get various opportunities to achieve growth and success in business
operations.

Table of Contents
INTRODUCTION...........................................................................................................................1
Brief overview of firm and its local strategy..............................................................................1
Analysis of potential international markets.................................................................................4
An analysis of potential market entry modes..............................................................................5
Recommendations for international marketing strategies in those market/s .............................7
CONCLUSION................................................................................................................................7

INTRODUCTION
Marketing is one of the most important part to for increase number of customer. In this
report is to be focus on distinctive information which is used to identify and determination of
marketing opportunities. This report is based on SOUL CHAIN organisation. The company
basically located in United Kingdom and provide different kind of services in three function is
speed, quality and integrity. Further, there are various important elements of marketing have
been discussed in context of organization. A brief introduction of SOUL CHAIN and present
local marketing strategy in UK is also determined by analysing its marketing mix along with
segmentation, target markets and positioning of business. Further, analysis of potential
international markets is also done by using secondary research method and determined the
potential market modes for organization.
Brief overview of firm and its local strategy
Headquartered in UK, SOUL CHAIN is identified as British start up success story that
directly employs over 300 people. The company is online food delivery organization that makes
money by charging customers a fee per order. Presently they have secured around 200 million of
financial resources which help them in growing at home and international scale. This funding
will also use by the organization to make improvements in technology for their restaurant
partners and drivers. This organisation is to be focus on multi cavity and single cavity model
must be used to improve overall conditions. Their mission is to bring together the world's best
fast quality services is to be provided and run for the long period. SOUL CHAIN mainly
considers the customer satisfaction as key to business success.
Their mainly strength is their quality, convenience and transparency is their forefront.
SOUL CHAIN is actually a B2C that is business to customer's organization. Some of its major
competitors are not much in market. Further, marketing mix of company is analysed to gain
understanding about the opportunities of organization to expand its business in international
market.
 Product: SOUL CHAIN ensures about quality of work or hassle of travelling and prior
planning. Brand mainly delivers the ordered food directly to the consumers. The
objectives behind this is to provide fast and quality delivery services. It has used the
technology as major sources of business operation. Company is interconnected with
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various best manufacture UK and provides the best delivery services to customers by
taking online orders.
 Price: It is important elements of marketing which provides an understanding about
effective price policies of organization which helps to sustain in competitive business
environment. In this context, It has also become a huge online portal and this has been
possible just because of effective pricing policies which are undertaken by brand (Yeung
and Yee, 2012). From the analysis, it is identified that SOUL CHAIN has adopted a value
added pricing policies because it offers the quality items for a reasonable price to their
customers across 50 countries. Presently company is facing competition from different
brands and it has adopted competitive pricing policies which enables to maintain
reasonable prices for its manufacturing and designing. It has also made its delivery
services more affordable which has ultimately resulted in more orders and high revenue
for SOUL CHAIN.
 Place: SOUL CHAIN is an international food delivery services provider that allows the
placing food orders from the local manufacturing through their websites and online.
Distribution network of SOUL CHAIN is spread ion local market across 200 countries
and it has also deals with CDM centre in the domestic market (Banterle and et.al., 2014).
In order to expand business, company is focusing on increasing their service from
domestic to international market. This will be achievable only when they will raise their
modular of custom-made service delivery.
 Promotion: Utilization of digital marketing and internet has played an important role in
creation major brand awareness among customers for SOUL CHAIN. It mainly believes
in delivery of something new and innovative periodically in terms of provide best
manufacturing, offers and incentives in order to maintain the loyalty of its customers
through the process of email marketing. Moreover, company has also used social media
to present its several commercials. It also has its Facebook page that displays its regular
intelligence as well as interactions in order to maintain its visibility and brand values
among the made-to-order. It also started form various subject matter traditional mold
making craft with the latest technology.
Thus, it can be said that company has properly applied its marketing elements that will provide
them support in expansion of business from domestic to international level.
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STP approach :- There are something new different factor must be used improve marketing
conditions. This is help to Morden marketing or future development in overall marketing
strategies.
 Segmentation :-Market segmentation is analysed as process of dividing a market of
potential customers in to various groups on the basis of their different characteristics. The
market segments which are created will be combined of various consumers that will pass
on similarly to the marketing plan of action and who will share the similar traits just like
the similar needs, percept, needs or situate. For expansion of marketing and business,
SOUL CHAIN data driven audience segmentation and a focus to mapping the customers
engagements with the important brands is paying off as its expand in Asia (Hsu, 2012).
Company has also adopted a step by step strategy of cultivating group of potential
customers in specific target audience then expansion of business to new one. The location
is to be allow for the fast and easy export. Further, For expansion of business in
international market, organisation needs to apply geographical segmentation method and
divides its market on the basis of geography. In this, company will tend to analyse the
requirements of customers in different market in order to develop an effective marketing
plan.
 Targeting :- It is an important part of improvement of marketing of business which has
been adopted by organisation to target its potential customers in country for selling their
quality of services and one of the most important part of top ten sea fort. After market has
been separated in to various segments, the marketer of company has selects segments or
series (). In this context, SOUL CHAIN has also targeted young and adults customers in
different geographical segments of UK, who are likely to purchase such kind of extra
services in manufacturing sector provide online. Company has also developed an
objective to achieve growth by working with different special steel and treatment of extra
long run. Moreover, company can also provide its services at affordable prices in order to
attract more and more customers. The quality of services is to be focus on price and
increase number of customer in depend on pricing factor.
 Positioning: It can be considered as occupying a specific place in minds of target
consumers. Integrated marketing communication has become an important part of
positioning, as the SOUL CHAIN needs to customize their message keeping in mind the
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products and services benefits sought, important medium of choice for company's target
market. On the other hand, regular message update to each and every customer is more
beneficial for future development. It is help to set a new position in market segmentation
and satisfy the most existing recruitment. There are more than 20 years of experience to
in such kind of activity.
Analysis of potential international markets
This is to be focus on international market have been able to successfully implement
itself in the market of UK. The company have also been able to generate adequate amount of
revenues and profits from the same. Since, it is the era of globalization and it becomes important
for the entity to enter into international market as well to generate more market share and
revenue, SOUL CHAIN can enter into American market as to take its business to an altogether
new level. America has been a hub for food chain companies where people residing there always
require their meal presented in such a manner that least of their time is wasted (Christopher and
Peck, 2012). SOUL CHAIN have been designed with the same concept where people working
there can directly pick the package of manufacturing sector, who are not delivering and then
deliver the same to the end consumer. American market has been quite extensive and vast in
terms of food. However, numerous competitors are available in the market. However, due to
extensive demand of home delivery services, the availability of delivery services remains less.
On the other hand, Moreover, consumer spent around $30 billion on new things in
manufacturing, so that they can get their product on right time (Cavusgil and et.al., 2014).
As per the data of 2016, 48% of the US diners started preferring tools changes services.
This organisation is to be provide the services of motorcycle, cars and other external
components. A tremendous growth is expected to take place in food delivery services by the year
2022. Majority of attraction can be expected from the side of people, belonging to the age group
of 15 years to 35 years as they are the people who opt for using these kinds of services at a large
extent. The global demand of delivery services has also increased by 32% in comparison to the
data being extracted in the year 2016 due to its convenience measure. 40% of the total orders that
are made from America are now for home delivery. This is to be increase number of customer in
market share. It can be ascertained that there is a tremendous growth in overall delivery services
of America. However, the companies currently functioning on this business are not able to fulfil
the requirements and demands of the end consumers. Therefore, it arises the requirements to
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introduce SOUL CHAIN in the market of America. It will help in satisfying their requirements
with the expansion of the organization as well. Since, America is the most potential and success-
oriented market for delivery services, it will be the best place for expansion strategy of SOUL
CHAIN.
An analysis of potential market entry modes
As the online food delivery service or company are doing all their business through
online marketing form only they would not certainly require any particular store or physical area.
Online manufacture ordering is different and new type of business which is leading to major
profits to firm with minimal or no kind of investment within company. They would allow
customer to order food from their favourite restaurant any type of dish or cuisine selected with
use of mobile app or webpage and then ordering company like that of SOUL CHAIN would be
delivering that order respected customer.
These type of companies would certainly be entering into international markets with
limited number of assets or capital. But it could be analysed that there are many potential market
entry modes through which they could enter into international or national market. This entry
mode would be defined to as taking certain degree of risk in order to control or invest in more
than one country or market of their choice. There are many ways in which business or companies
could enter into market of other country but this is divided into two modes namely equity and
non equity. The equity mode would be having joint venture and wholly owned subsidiaries while
on other hand non equity would be like that of exporting and contractual agreements.
Exporting:
This would be including the sale and purchase of products and service on bases of cross
border within the boundaries of two or more countries. It could be said to have three subtypes
namely indirect, direct and cooperative as first one is most safe type of entry (Modes of Entry for
International Markets, 2018). This would not be requiring limited amount of risk as exposure of
foreign market is not there. Direct entry would be defined to as like indirect one but under this
there is no agent who is present in between seller and buyer of the product. While in cooperative
one company which is trying to enter into foreign market would be coming into agreements with
some other local seller or organisation so that they both in collaboration do the transaction or
business.
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So for SOUL CHAIN indirect mode of entry if they are planning to take up export as
their option would be very good. In this way they would not be taking much amount of risk and
other restaurants that are there in USA could tie up with SOUL CHAIN to increase their sale.
Licensing:
Under this type SOUL CHAIN would be getting some specified rights to use the property
of that company with which they would be coming under contractual agreement. All the
properties that SOUL CHAIN would be using that of other American company would be
including like that of patents, copyrights or trade marks (Modes of Entry for International
Markets, 2018). In exchange of their use of these intangible properties they should be paying off
certain fee to that particular company. This is most profitable form of market entry which will be
including low risk and low political exposure but higher return to investment.
They could be choosing this form of market entry to do their entry in USA so that profits
are higher and their risk to loss is also lower. In this way they could also be having lower risk to
political influence of USA.
Franchising:
Under this SOUL CHAIN could be giving their right to sell products and service to some
other company which is small and semi-independent business with allowing them to use their
trade mark. The main advantage of this type of market entry could be defined to as the semi-
independent company is local one so they should be having good knowledge of market so they
could easily help big company which is trying into international market to make profits.
Joint venture:
This is coming into an agreement with the local company so that their risk in that new
country is been divided also it would be helpful to use each other strength to grow and develop
their business. As on the same time that local company is having customer base and knowledge
of market so that it would not be difficulty for them to get themselves settle into that market.
Wholly owned Subsidiaries:
Under this type of market entry company would be entering new market of some other
country with motive of 100% ownership. They either acquire the existing company of that nation
or they could start their own set up with owning land or property into that country. This type of
market entry is having the highest amount of risk as compared to the others which are mentioned
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above. As in this SOUL CHAIN would be opening new branch in USA with the motive to gain
market share.
Recommendations for international marketing strategies in those market/s
As SOUL CHAIN would be opening their new branch or they are planning to grow their
business in USA with the help of any above market entry mode. So it is advisable that they are
taking up either indirect exporting or franchising as their option of market entry in USA. Both
these would be requiring the lowest amount of capital or risk involved in these two is minimum
so they could gain more market share if they are using them (Standardisation vs Adaptation in
International Marketing. 2018). They would be doing their business on international level so
their marketing strategies should also be very good and according to the standard of international
business.
There are mainly two types of international marketing strategies which are
standardisation and adaptation both of them could be recommended to SOUL CHAIN. Under
standardisation one company would be having very cost effective in their use of international
marketing. This involves same kind of products and policy to promote them in that particular
market as well. But this could only be done after company is having deep knowledge about
market and that about customer of that market. This is used only when consumers are
homogeneous in both the markets and they are also intensifying the forces of globalisation.
While on the other hand adaptation would be customer oriented strategies which is implicating
various changes into products and service. Company could be easily taking advantages from the
local market customer and this international marketing strategy could be used by SOUL CHAIN
as per recommendation.
CONCLUSION
From present report, it is concluded that marketing research plays important role in
providing information about producers, customers and end users in market. In UK, Start up have
achieved major growth in present competitive market as they provide new and innovative
products and service which tends to attract the customers. SOUL CHAIN is also a British start
up which consider consumer satisfaction as key to success of business. It provides online food
delivery service to customers. Marketing mix of company has provided understand that company
has potential to expand its business in international market if they continue to provide quality
and focus on increasing its distribution network across the countries. Further, America is
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identified as potential international market where organisation can expand its business and
achieve high growth opportunities. In this report is to be focus on SOUL CHAIN organisation.
The company basically located in United Kingdom and provide different kind of services in three
function is speed, quality and integrity.
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