Global Marketing Assignment 2022

GLOBAL MARKETING

CONTENTS
1. INTRODUCTION.......................................................................................................................1
2. OVERVIEW................................................................................................................................1
3. MARKET SELECTION AND SCREENING.............................................................................1
3.1 Market Screening...................................................................................................................1
3.2 Reason for choosing Sri Lanka as the new market................................................................2
3.3 Mission Statement & Objectives...........................................................................................3
4. MARKETING STRATEGIES....................................................................................................3
4.1 Modes of entry into new market............................................................................................3
4.2 Alternative target markets......................................................................................................6
4.3 targeting and Positioning.......................................................................................................7
4.4 Alternative generic strategies..............................................................................................10
5. RECOMMENDATION.............................................................................................................10
6. CONCLUSION..........................................................................................................................11
REFERENCES..............................................................................................................................12

1. INTRODUCTION
In the present condition of tough competition in the market each and every organisation
seeks a way to achieve competitive advantage by either introducing new product or expanding
their business overseas. Expansion of an organisation in global market is not so easy it requires a
lot of research and strategies to successfully enter into a new target market (Lessard, 2018). The
present report is based on Tim Tam, an Australian brand of biscuits. This study will examine
how this brand will select, target and position itself in Sri Lanka. The report will include modes
of foreign market entry, objectives to enter into new market and strategy that will be used by
TimTam biscuits for achieving success in the new market.
2. OVERVIEW
TimTam is one of the best chocolate biscuits brand in Australia, they manufacture biscuits
coated and filled in thin layer of chocolate especially for children as well as other customer
segments. Arnott' organization made TimTam biscuits, in order to run business effectively and
increase profitability, they wants to expand its business in Sri Lanka. These Biscuits is created by
Lan Norris, director of food technology in Arnott. In has been identified by the brand that for
achieving high profit and increased market share TimTam biscuits need to enter into different
new markets to globally. The company plans to enter into Sri Lanka analysing the market using
various strategies and tactics.
3. MARKET SELECTION AND SCREENING
3.1 Market Screening
Five stages of market selection procedure-
Global market entry evaluation process is based on five stages, this phases help to define which
international market offer the best advantages and opportunities for company services or goods
to succeed.
Step one- International markets decision
The most essential and primary step of business expansion is to take better decision; first
decision is whether company wants to go for international marketing. The questions are: is
organization is able to successfully conduct in global marketing? (Li & Belal, 2018). Do they
want to go for global business? All the answers are based on company, overall abilities, current
1

position in market and available resources. Before taking decision they can conduct market
research which helps to gather more information about new marketplace and helpful when they
take decision. They can collect information about the demand of products is higher or not in
market.
Step two- Market selection decision
Once they take decision where company wants to go for international marketing, it is
easy for them to sell their products. Selecting appropriate market is the second phase of this
procedure, which is important for overall TimTam brand. This type of decision is based on
different types of factors, such as capacity of production, current product mix etc. before
deciding which market is beneficial to enter, they need to conduct global marketing research that
supports company to identify local competition within new market place (Fenton et.al, 2019)
Step three- Market entry decision
Once company chose market and take decision of business expansion, next important
phase is market entry decision which is very difficult and challenging situation. In this stage
TimTam needs to create market entry strategy or plan and select the best and appropriate market
entry option.
Step four- Marketing mix decision
Marketing mix is the set of decisions related to marketing area such as price decision,
promotion decision, and product as well as place decision. In this stage, company takes decision
and chose which promotional strategy is best for them. While formulating the best marketing
mix for commercial purpose, organization carefully studies their new client’s behaviour and
target market group (Howells & Lowe2018). Success of global business expansion is depending
on effective marketing mix plans.
Step five- Implement and control organization decision-
The last and final stage of international marketing process is implementation of decision
taken by Company. They are accountable to manage all activities and operations of foreign
market. Structure and design of company is based on various factors including number of
consumer, entry options and type of goods realties of host nation.
3.2 Reason for choosing Sri Lanka as the new market
TimTam brand select Sri Lanka as international market to expand their business because in
Australia the growth opportunity is limited. Sri Lanka is one of the largest biscuit consuming
2