Global Marketing: Market Analysis, Competitors, and Business Environment

GLOBAL MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Market and competitor analysis...................................................................................................1
The Current Business Environment.............................................................................................3
Marketing Strategy (STP)............................................................................................................6
Marketing Plan (Marketing Mix).................................................................................................7
CONCLUSION................................................................................................................................9
RECOMMENDATIONS.................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
The current report gives emphasis on clothing industry. The chosen company in the
report is TK maxx which deals in home wears, accessories, men's, women's and children's
clothing. The selected company is of British brand and does not operate in India economy. TK
maxx is willing to operate in India to cover big market share and earn greater profit from Indian
market. The mission of company is to comply with four commitments to communities where it
operates its business activities which includes current and future associates, to environment,
vendors and business partner of supply chain to protect self-regard upcoming generation. In
addition to this TK Maxx has vision of being responsible retailer globally and repeating history
to give back best quality service to customers. The report also elaborates market share of TK
maxx which is on top in terms of revenue, CEO efficiency and employees productivity. It has
high profile of selling quality branded and label products 20-60% generally less than traditional
traders as it operates 400 outlets in world. The GDP of country is 7.3% in 2021 which likely to
increase more that grows opportunity for the business to establish in Indian market and sell its
goods. The current report also gives information regarding GNI per capita which is 5.97% that is
a positive indicator for enterprise to enter the mixed economy of India to enhance its turnover.
The Present report shows detail of population as well which is approx 1395.57 million that
encourage to TK Maxx to expand it targeted segment. In addition to this report will describe
market analysis, current business environment, the Marketing and entry strategy of TK maxx.
With respect to this the report will also show business's strategy implementation in Indian
market.
MAIN BODY
Market and competitor analysis
TK Maxx operates in Indian market with motive of earning higher profitability and
substantiality. The company has chosen the mixed market to take various advantages of the
country that can increase its presence in worldwide and make it able to get bigger market share
of industry (Can TK Maxx maintain its success?, 2020). There are several advantages of market
of India as its population can be easily influence by keeping lesser price as the every segment of
this mixed economy go for those products that are less expensive (Liu and Atuahene-Gima,
2018). There is huge scope of Fashion industry which can make TK maxx able to sell its
products in each state of nation as people of India are ready to accept new products regardless of
1

differentiating goods based on nations. The population of India is large so selecting a segment
for targeting audience can be easier for company as compared to choosing in other nation.
Gross Domestic Product of India is 7.3% which enhance scope of TK Maxx in retail
industry as clothing sector also contribute good share in GDP. The GNI of India market is 5.97%
that can help company to enter easily as the nation also support British companies to come in
nation and establish there organization which will eventually increases employment opportunity
in the country. With respect to this company also get advantage of lower cost of labour and raw
material etc.
The competitors of TK Maxx in Indian market is Aditya Birla Fashion, Reliance, Avenue
future mart, Shoppers stop, Trend limited etc. that are dealing in clothing industry from decades
and have trust of customers (de Guimaraes and et.al., 2018). With respect to Indian clothing
sector TK Maxx can face higher competition from these companies that can make difficult for
organisation to grow. A segment of specified population is loyal towards their national brand and
may not accept TK Maxx's clothes that can be the biggest competitive element for the
organisation. The Indian retail industry values and adhere taste and preference of their customers
as these competitors have knowledge of festival seasons of different religions of the nation which
can be barrier for TK maxx. Further, there are several barriers that can be hurdled for TK Maxx
for entering the market such as high cost of establishment, lack of appearance due to higher fame
of domestic companies, low existence in rural region of nation etc.
The existing companies in Indian market have been established decades ago and have full
knowledge of life cycle of retail industry that when to introduce any new products, when it will
decline from growing stage etc. The new business entering market have to invest capital in
research and development to adapt changes of industry which can be risk for organization as
taste and preference of Indian population changes easily so invested money might not give
desirable result to TK Maxx. In regard to this cooperating with existing level of competition
becomes tough for entering company. So overcoming competition the company need to face all
the challenges to establish, sustain and grow in foreign market. The important aspect that
entering company should focus before establishing into Indian market is economic condition as
this factor decide smooth functioning of any company. Economic condition refers to GDP of
country, consumption and investment rate which affects the business activities widely as
availability of raw material, customers, suppliers, technology etc. depends on country's
2