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MKT744 Global Marketing And Sales Development

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Added on  2021-08-30

MKT744 Global Marketing And Sales Development

   Added on 2021-08-30

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GLOBAL MARKETING
AND SALES
DEVELOPMENT
MKT744 (92125)
B00790553
Lathi Loshi
MKT744 Global Marketing And Sales Development_1
TABLE OF CONTENTS
1.0 - EXECUTIVE SUMMARY...............................................................................................3
2.0 - INTRODUCTION..........................................................................................................4
3.0 - COMPANY OVERVIEW................................................................................................5
4.0 - SITUATION ANALYSIS.................................................................................................6
4.1 - MACRO-ENVIRONMENT ANALYSIS (PESTLE ANALYSIS).........................................................6
4.1.1 - POLITICAL FACTORS.............................................................................................................................7
4.1.2 - ECONOMIC FACTORS...........................................................................................................................8
4.1.3 - SOCIO - CULTURAL FACTORS.............................................................................................................10
4.1.4 - TECHNOLOGICAL FACTORS...............................................................................................................11
4.1.5 - ENVIRONMENTAL FACTORS..............................................................................................................12
4.1.6 - LEGAL FACTORS.................................................................................................................................14
5.0 - MARKETING OBJECTIVES..........................................................................................16
5.1 - RATIONAL FOR OBJECTIVES................................................................................................17
5.2 - JUSTIFICATION....................................................................................................................18
6.0 - MARKETING STRATEGY............................................................................................19
6.1 - PORFOLIO ANALYSIS................................................................................................19
6.1.1 - THE ATTRACTIVENESS OF SOUTH AFRICA.........................................................................................20
6.1.2 - COMPETITIVE STRENGH OF STABLE OF IRELAND.............................................................................21
6.1.3 - MODE OF ENTRY................................................................................................................................22
6.1.4 - SEGMENTATION, TARGETING & POSITIONING.................................................................................23
7.0 - MARKETING TACTICS................................................................................................24
7.1 - PRODUCT............................................................................................................................24
MKT744 Global Marketing And Sales Development_2
7.2 - PRICE..................................................................................................................................25
7.3 - PLACE.................................................................................................................................26
7.4 - PROMOTION.......................................................................................................................27
8.0 - MARKETING ACTION PLAN.......................................................................................28
9.0 - CONCLUSION............................................................................................................29
10.0 - BIBLIOGRAPHY.......................................................................................................30
11.0 - APPENDIX 1 - MCKINSEY’S 7 S MODEL....................................................................37
11.1 - SHARED VALUES.................................................................................................................................37
11.2 - STRATEGY...........................................................................................................................................37
11.3 - STRUCTURE.........................................................................................................................................38
11.4 - SYSTEMS.............................................................................................................................................38
11.5 - STYLE...................................................................................................................................................38
11.6 - STAFF..................................................................................................................................................39
11.7 - SKILLS..................................................................................................................................................39
12.0 - APPENDIX 2 - PORTERS FIVE FORCES.......................................................................40
MKT744 Global Marketing And Sales Development_3
1.0 - EXECUTIVE SUMMARY
This report will evaluate the globalisation of Stable of Ireland into South Africa.
Founded in 2015, Stable of Ireland crafts handmade luxury ready-to-wear and home
textiles. As an SME, the short term objectives of Stable are to sustain online and
retail sales, with the long term objective to expand internationally; South Africa being
a prime location due to its economically steady and technologically advanced status.
A thorough PESTLE analysis has been conducted, covering political, economic,
socio-cultural, technological, environmental and legal factors that would effect the
internationalisation strategy. The evaluation demonstrates greater prospects than
risk, with the South African textile industry value expected to rise 6 billion in 7 years.
Careful consideration has been given to the methods employed to execute Stable of
Ireland’s business plan, namely market penetration and exporting. Porters Five
Forces and Mckinsey’s 7 S model have also been used as a means of analysis in
this report to further explore the competitive environment amongst other factors.
MKT744 Global Marketing And Sales Development_4
2.0 - INTRODUCTION
International marketing is the utilization of marketing standards to fulfil the diverse
necessities and demands of various individuals living over the national precincts.
[ CITATION Vel16 \l 2057 ]. An advantage of international marketing is the rise in
returns because the additional transactions equivalents to more returns. So it is
gainful for organisations to access international markets[ CITATION Oum15 \l 2057 ].
However, a disadvantage of international marketing is infrastructure because the
anchor nation infrastructure may not be established which may cause hindrances for
the organisations[ CITATION Sur15 \l 2057 ]. Nike, McDonalds and Coca cola are
examples of organisations who are involved in international marketing. McDonalds’s
brings a native taste, truly, to various nations with regional menu necessities for
instance, the McArabia, a flatbread sandwich, to their middle eastern menu,
macaroons to their French menu and McSpaghetti to their Philippines
menu[ CITATION Mat17 \l 2057 ]. An controllable factor in international marketing is
the marketing mix which consist of product, price, place and promotion[ CITATION
Gup17 \l 2057 ]. According to [ CITATION Cat15 \l 2057 ] the phases of international
marketing are infrequent foreign marketing, regular foreign marketing, international
marketing and global marketing. This report will firstly scrutinize and critically
evaluate South Africa business environment by utilising an PESTLE analysis
framework. Secondly the operational environment utilising Michael Porter 5 Forces
and finally the internal analysis of the company utilising the McKinsey 7S framework.
The discoveries will influence the direction of the marketing strategies and objectives
for internationalising into the South African business environment.
MKT744 Global Marketing And Sales Development_5
3.0 - COMPANY OVERVIEW
Launched in 2015 by Sonia Reynolds and Francie Duff, STABLE’s aspiration is to
exhibit the absolute greatest of Irish chic and customs to people of the same mind
internationally, who place significance on and are enthused by its opulent customs,
innovation, splendour and culture. STABLE work alongside the cream of knitters and
weavers from across Ireland, encompassing North and South, young and old.
Respected and valued, they are an integral part of the team. STABLE wish to
commemorate and share their creations by designing and crafting clothing, scarves
and household accessories with the purest Irish Wool, Alpaca, Merino, Cashmere
and Linen. STABLE foster and encourage the astonishing talents across Ireland,
endorsing the excellence of these current originals, to place Ireland where it belongs
on the global stage of luxury textiles[ CITATION Sta212 \l 2057 ].
MKT744 Global Marketing And Sales Development_6
4.0 - SITUATION ANALYSIS
Situation analysis refers to a group of methods that leaders use to examine a
company’s interior and exterior setting to understand the company’s consumers,
proficiencies and company environment[ CITATION Str18 \l 2057 ].
4.1 - MACRO-ENVIRONMENT ANALYSIS (PESTLE ANALYSIS)
The uncontrollable factors of international marketing are political, economic, socio-
cultural, technological legal and environmental factors which are out of the
organisations control[ CITATION Gup17 \l 2057 ]. PESTLE analysis is an outline or
instrument utilised to scrutinise and examine the macro-environmental components
that could have an intensive influence on an business functioning[ CITATION
Cad14 \l 2057 ]. A Macro environment is the main exterior and uncontrollable
aspects that impact an organisation leadership and influence its execution and
strategies. These components incorporate the economic elements; socioeconomics;
lawful, political, and social conditions; innovative changes; and natural
forces[ CITATION Kne13 \l 2057 ].
MKT744 Global Marketing And Sales Development_7
4.1.1 - POLITICAL FACTORS
With president as head of state and government, South Africa is a parliamentary
republic. The president selects ministers and a Deputy president to make up the
cabinet that oversee national matters. Prior to 1994, the state was administrated by
an apartheid regime[ CITATION Gum17 \l 2057 ]. Pretoria is the governmental
capital of South Africa, whilst Cape Town is the law-making capital and Bloemfontein
the legal capital. The political background in South African is frequently obscured by
violence, dishonesty, widespread marches, administrative bias and misconduct.
These challenges regularly slow the evolution of economic growth. Consequently,
gaining the support and assurance of the investors and general public taking into
consideration the political issues becomes one of the utmost significant jobs of the
president of South Africa[ CITATION Lem21 \l 2057 ].
MKT744 Global Marketing And Sales Development_8

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