Topshop's Indian Market Entry: A Marketing Mix Strategy
Added on 2019-12-03
13 Pages4265 Words142 ViewsType: 142
|
|
|
Global Marketing Management
Table of ContentsINTRODUCTION ..........................................................................................................................1Various competencies of brand and the ways through which they are utilized to market theproduct.........................................................................................................................................1Analysis of internal strengths and weaknesses pertaining to the brand......................................2Analysis of organizational external opportunities and threats pertaining to the brand...............3Evaluation of organization's competitor analysis pertaining to the chosen brand......................5Evaluation of target market selection and positioning of Topshop product and services in USmarket..........................................................................................................................................6Overview of realistic marketing objectives that Topshop should set in the target marketpertaining to the product/service.................................................................................................7Analysis of entry mode strategies that Topshop should pursue in the new market....................7Evaluation of international marketing-mix strategy that Topshop should follow to launch thenew product in new market.........................................................................................................8Analysis of internal marketing budget strategy relevant for Topshop plan................................9CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................1
INTRODUCTION In the present scenario, companies are growing at a greater speed to retain in the diversemarket place and make the offerings to the customers and expand the market share.In order toexpand across the national boundaries, different aspects are ascertained and managed to takeappropriate decisions to make entry into the new market. This report discusses about thecompetencies that are related to the brand which helps in analysing different dimensions andperspectives that will properly evaluate the market trends.Topshop has been chosen to evaluatedifferent strategies that will help to make the entry into India’s market with the new product thatis offered as per the tastes and preferences of customers. As the trends modify sooner over thelimited time frame. Topshop is the multinational retailer of the fashion brand which offer thedifferent shoes, clothing and the accessories and make up for the women's. It has 500 store whichare opened worldwide to make he offering. Various competencies of brand and the ways through which they are utilized to market theproductThere are several competencies that are related to the brand and essential to determine theentry of products in the new market. Competencies reflect the portfolio of business that helpsTopshop in making their product offerings to reach the market and significantly, meet thecustomer needs (Canel, Bejou and Khumawala, 2015).Topshop is the multi clothing brand whichrequire expansion with the boundaries of India to make the offering of the product and theservices. Generally, it is the growth strategy that is adopted by Topshop to make the offering.There are four growth alternatives which are available for Topshop:1
Market penetration: This is the strategy which was adopted by Topshop to grow theirmarket share by providing special discounts and various facilities to expand and make theoffering more attractive and affordable.Market development: This is the strategy which is adopted by Topshop to enter intoIndian market with the help of the new product range as per the market demand. Thereare 142 stores of Topshop which are opened worldwide.Product development: The major objective behind this strategy is to develop a newproduct to the existing market to expand the market share. Topshop include variousbrands to make the offering to the customers with the help of the unique collection ofdifferent designers.Diversification: Topshop adopted this strategy to offer the new product range in themarket of India.With this strategy it can be easily determined that Topshop adopted these strategy tomake the offering to the customer of India. As India is developing with the objective to adopt thefashion trend and grow their level of standard.All these competencies are beneficial as they help in developing the conceptualframework that is utilized to enter in the new market with the product that they are offering to thecustomers as per their need specification (Kanibir, Saydan and Nart, 2014.). Topshop effectivelydetermines the respective elements that are based on different aspects. This competency providesa clear image that can be efficaciously presented and would help Topshop to market the chosenproduct to the target group.Analysis of internal strengths and weaknesses pertaining to the brandThe internal strengths and weaknesses determine effective process to analyze theelements that help to evaluate different aspects. Topshop is a multi-branding store which they areoffering to obtain competitiveness and competencies that are utilized while carrying out theoperations to make offerings. Thus proper analysis will define the respective strength andweakness of the brand which will determine the different aspects that are related in order toenter into a global market with the formal shoe range. The strengths and weaknesses are stated asbelow:Strengths:2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Enhancing Sales Volume and Profitability through Effective Marketing Strategieslg...
|16
|5976
|190
Marketing Essentialslg...
|19
|2132
|86
Relationship Marketing in the Global Marketlg...
|20
|5434
|29
International Business Management: Market Selection and Entry Modes of Hayward Tyler (Luton)lg...
|15
|4423
|291
International Business Management: Market Selection and Entry Modes of Hayward Tyler (Luton)lg...
|17
|4984
|464
Marketing Roles and Responsibilities in TopShoplg...
|14
|982
|51