Marketing Plan for Farmhouse Gold Milk in China

FINAL GROUP REPORT
MARKETING PLAN
FARMHOUSE GOLD MILK, CHINA.
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EXECUTIVE SUMMARY
This research is an insight into my understandings and learning when it comes to creating a
marketing plan for the international market. It helped me learn more about the selected country
China, along with the factors that influenced our decision in choosing this country as the one for
brand introduction because of its diverse culture and nature of accepting western businesses.
This research also shows our skills in working together as a team to recommend a variety of
marketing strategies that will help introduce Farm House Gold Milk brand in an efficient manner
and such that will aid in its progress at initial and progressing stages.
It will also show our efforts on working as a team to cater to the various obstacles that might
come while introducing this brand in China and the ways in which we can tackle them
effectively.
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CONTENTS
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
DESCRIPTION & JUSTIFICATION FOR COUNTRY RECOMMENDATION......................................4
Geographic Factors..................................................................................................................................4
Economical Factors.............................................................................................................................4
Political/Legal Factors.........................................................................................................................5
Technological Factors..........................................................................................................................5
COMPETITION IDENTIFICATION.........................................................................................................5
Nature of the Market:..........................................................................................................................5
Demand for the Product:......................................................................................................................5
Change in the Industry Structure over the Next Five Years:................................................................5
CULTURAL PROFILE: CHINA................................................................................................................6
Hofstede’s Theory of Cultural Dimensions.............................................................................................6
China’s Culture through Hofstede’s Theory............................................................................................6
1. Power distance:............................................................................................................................6
2. Individualism:..............................................................................................................................6
3. Masculinity:.................................................................................................................................7
4. Uncertainty Avoidance:...............................................................................................................7
5. Long Term Orientation:...............................................................................................................7
6. Indulgence:..................................................................................................................................7
Comparison of Chinese & Australian Culture.........................................................................................7
COUNTRY OF ORIGIN.............................................................................................................................8
1. Country-of-origin:........................................................................................................................8
2. Consumer ethnocentrism:............................................................................................................8
3. Consumer animosity:...................................................................................................................8
4. Consumer disidentification:.........................................................................................................8
5. Consumer affinity:.......................................................................................................................8
MARKET SEGMENTATION....................................................................................................................8
Segmentation Characteristics...................................................................................................................8
1. Demographics:.............................................................................................................................8
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2. Geo-Graphics:..............................................................................................................................9
3. Psychographics:...........................................................................................................................9
4. Benefits sought from the product:................................................................................................9
5. Behavioral Patterns for the product:............................................................................................9
6. Media Preferences:......................................................................................................................9
TARGET MARKET...................................................................................................................................9
POSITIONING..........................................................................................................................................10
MARKET ENTRY & EXPANSION STRATEGIES................................................................................10
STRATEGIC RECOMMENDATIONS....................................................................................................11
1. Positioning.........................................................................................................................................11
2. COO..................................................................................................................................................11
3. Product Modification.........................................................................................................................11
4. Distribution........................................................................................................................................11
9. Pricing...............................................................................................................................................12
10. Culturally Adapted Promotion.........................................................................................................12
CONCLUSION.........................................................................................................................................13
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