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Concept of Market Segmentation & Targeting

   

Added on  2020-11-12

14 Pages4323 Words427 Views
STRATEGICMARKETING

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Analysing the opportunities and threats in the French market through PESTLE analysis....1TASK 2............................................................................................................................................4Modes of market-entry and suitable mode for Hart's bakery.................................................4TASK 3............................................................................................................................................6Concept of market segmentation and targeting and critically evaluate the target market......6Market segmentation..............................................................................................................6TASK4.............................................................................................................................................9Porter's generic strategies and how the company can gain advantage by these strategies.....9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONStrategic marketing is the way of defining the uniqueness of company from itscompetitors by identifying its strength in order to provide better values to consumers in terms ofboth products and services. Strategic marketing is used for identifying the needs and desires ofcustomers for creating a plan to reach out to them to accomplish satisfaction among customers.The company considered in this assignment report is Hart's bakery which is a UK basedcompany in the food & beverages sector (Wilson and Gilligan, 2012). Hart's bakery decided tolaunch organic chocolate product in United States of America. This report will identify theopportunities and threats faced by Hart's bakery in order to launch their chocolates in UnitedStates market by using PESTLE analysis. This report will also assess the three modes of marketentry and will suggest best available mode to enter in US market Along with marketsegmentation and targeting. Also, to identify the competitive advantage of the company byapplying porter's generic strategy.TASK 1Analysing the opportunities and threats in the French market through PESTLE analysis.Background of the companyHart bakery is a small business firm in United Kingdom who is providing a variety ofproducts such as, breads, lunch, coffee and many more bakery items to their customers. Thecompany wants to expand their business in developed countries such as United States forintroducing their new product i.e. chocolates to the customers in UK. United States is taken forexpansion because this is a developed market and support the expansion of small and mediumsize businesses. This country has huge potential for the Hart's bakery due to eating habits ofAmerican people. The people of America are attracting towards the organic products andchocolates is the one among the many products which is preferred by the people. So, thecompany decided to launch its organic chocolates into the US market for getting theopportunities to expand its operations.Pestle analysisThis analysis is used for identifying the external or macro environmental factorsresponsible for growth or hindrance of an company. These factors have different impact ondifferent sectors of a economy. The analysed results can be used for identifying threats and1

weakness in SWOT analysis. An organisation needs to perform this analysis in order to know thethreats and opportunities which lies in the targeted country. Factors like political, technological ,social, environment affects the company in performing well (Sargeant and MACQUILLIN,2016). Management of a company is liable for doing this analysis in order to get to know aboutthe factors responsible for less productivity and areas in which a company can improve. Pestlestands for:Political-These factors are related to the intervention of government in the US economy.These factors generally includes taxation policy, stability of government, labour law,environmental law which effects the growth of organisation. Hart's bakery must follow theserules and regulations for support from government in their operations.Threats-Regulations of US government on GMO food is a major problem for thecompany.Opportunities- Hart's bakery should use GMO free organic chocolates with labelledcalories and constituents to attract more customers and stay active in the market.Economical-These factors have a significant effect on the organisations profit. Thesebasically includes Economy growth, rate of interest, exchange rate, inflation etc. These have ahuge impact mostly on B2C organisations. Since Hart bakery is a B2C company, it needs to keepan eye on these factors for less impact in case of changes in these laws.Threats- Unemployment rates and state of government can affect the companyperformance because of high prices. Opportunities- Hart's bakery can introduce different types of sizes of their organicchocolate so that people wont find it expensive. If they can't afford the bigger size, thenthey can purchase smaller size at less prices.Social-These factors focus on identifying customer needs and emerging trends. Thesefactors includes change in family demographics, change in attitude and cultural trends andlifestyle change. These factors have direct impact on how marketers interpret their customersneeds.Hart bakery should identify the changes in trends and behaviour of consumers forproviding them good quality products.Threats- Different cultural taste of food and increasing awareness of healthy eating habitsamong American peoples is a threat to company's product. 2

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