Market Entry Strategy and Global Trends for Green Chef
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This report evaluates the market entry strategy of Green Chef, global trends relevant to the company, and how social media communications can be standardized or adapted in Denmark. It also includes information on segmentation and buying behavior in Denmark.
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INTERNATIONAL STUDIES
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 Market entry strategy...................................................................................................................3 Global trends and its application in local environment..............................................................4 Social media, adaptation and standardization..............................................................................6 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................1 APPENDIX......................................................................................................................................2
INTRODUCTION Market strategy refer to the business gaming plan for reaching up to the potential consumers and converting them into customers of their product and service. Such strategy consistofcompanyvalueproposition,dataoftargetcustomerdemographics,keybrand messaging and other high level elements. This report will identify the market entry strategy of Green Chef for understanding their consumer andretail environment. It will discuss about global trends and their application in local environment based on three trends. Also, it shows how social media communications can be standardized or adapted in Denmark. Further in appendix it would show the segmentation and buying behaviour and cultural insights. MAIN BODY Market entry strategy Market entry strategy is the planned source of distribution and delivery source of goods and service to the new target market. Such strategy is supportive for businessto gain the competitive advantage in the specific market. In import and export services it means creation, establishment and the management of contract within foreign country. There are some example for successful market strategy of the market such as joint ventures, sourcing, franchising, company ownership and licensing. The Green Chef new channel of distribution is the better sources of reaching to the target audience and this can be done through developing the more chain supplying products and services to different countries. This will helpful to enhance their sales and faster achievement of goals (Zou and Yu, 2020). Hello fresh has provided the go ahead launch to Green Chefin Denmark and as aligning with multi brand strategy, it can capture the new audience. From the provided options, the option 1 is more appropriate in Denmark as such itis th most famous tourist place where most of the people come to visit the city. In similar way this may help to generate the market of company and will be better advantage for them to grow the sales by providing the services to customers. As entering into the direct arrangement with leading the supermarket chain in country (Hilmersson and et.al., 2021). The option 1 is more appropriate than option 2 because the service provided in the supermarket would be more effective and many people visit the country where the service is provided by Green Chef is beneficial for the all variety of customers. Thus, meal kit services are more preferable by the
tourist as it is handy and easily carried by them. With the help of leading supermarket chain is the advantage for the company to sell their product in physical stores. It will be effective to grab the attention from target audience as most of the tourist get can make the effort to buy such unique meal kit which would be the easiest way to make use. While delivering to the online website can be more beneficial as such the customer will get the service at their door step. After the crisis, most of the audience prefer to make the online shopping and in similar manner Green Chef online website will work effectively to provide the profitable outcomes. Apart from this the market strategy should be productive as the creative ideas and implementing rewards influence the target audience to make effort in buying the product and service. In the case of Green Chef, the idea of meal kit is based on innovative process but thespecific aspect of getting the people attention is based on pricing. They must provide them with rewards and better offering, thus such strategies influences the buying motive of people and with same day online service it would be easier to conduct the business operation in profitable outcomes. Placing the product into supermarkets and online sources is a great way for implementing the strategy but pricing is the main factor which is considered by peoples (Chew, Shen and Ansell, 2020). They should enhance the techniques in their strategy for being more sustainable in the market place. Global trends and its application in local environment From sustainability to purpose : refocusing on the planet It is relevant with Green Chef as such it provides the meal kit service that is more sustainable way of getting the groceries than supermarkets as well as other traditional food retailer. While being the largest kit provider there is significant outcome over the environment with eliminating the food wastage and optimizing the packaging in the local ingredient sourcing. The importance of this trend in the country is focusing more on the productivity and less effect to the environment while avoiding the necessary terms of food wastage. In Denmark, the locally it works as focusing on more on environmental factors as with focusing on the customer needs. Such environmental concerns are useful for better future growth results and reflecting positively towards natural sources. In their marketing mix they should follow better promotion strategy such as more advertising of their product to target audience (Johnson, 2019). Their marketing strategies should be in favourable terms and based on advertising it would be helpful to execute the good relation
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with customer as well as expansion of product to right place where it encourages people to buy their products. The pandemic – the new normal – what is here to stay This trend could be relevant to this due to the new strategy is being followed by new trend which influence the audience and after the crisis such facility provide them access to make the use of such services. After the pandemic people are more preferable to ship online and mostly in food orderings. Green Chef provide various preferences as suitable for the audience to select for category of their choice and their online website provide the advantage as with the stores. This trend is essential because after the pandemic mostly people prefer to make use this sources. They can further make use of these sources to lead and enhance their stability in the market. This provides provide them the opportunity for making use of these resources in Denmark. Most of the people are travelling from across where Green Chef provides the variety of option with safety measures (Salvia and et.al., 2019). People are being concerned about health and mostly they prefer to make online food orders where Green Chef could be great option for healthy diet related service, beneficial for audience safety as well. The pandemic – future of where and how consumer shop After the pandemic crisis, the thinking process of consumer have changed as they are trying hard to makes less food wastage. The Green Chef is relevant with this trend as such after Covid-19 it gains the people attention to higher levels. This impact over the consumer shopping and eating behaviours in many peoples live. The significance of this enhance with the buying pattern of the consumer, nowadays consumer are more likely to get the online food ordering sources which give them facility for getting the doorstep service. In similar way, pandemic has changes consumer way of dealing with things in daily lives and their lifestyle as well. The food sector get most benefit from change in circumstances by introducing the meal kit business. For the future terms and increasing the growth with consumer meal kit shopping it is important to continue invest in the long term success through technology, new product offerings, services and developing more opportunities for existing and new customers with changing way people eat around world (Streets and et.al., 2019). As with growing amount of online food delivery they should provide the consumer to provide feedback so it would be easy to identify the trends and demands.
Social media, adaptation and standardization Social media is the best way to interact with the audience and with advertising the product is important to facilitates the better service to customer. With such social media communication strategy such audience get easily interact and get to know about new offerings and service being provided (Yu and Hu, 2020). The target audience is most of millennials where social media sources will the key role for forming relations with more customer of similar age group. Most of the people vary from young age group but there buying patterns are not suitable for as compared to the most of the youths. Green Chef provide the health and quality food packaging which influencing the image and buying behaviour of customer. Social media communication can be used for several aspects to make the communication with audience as some time the advertising strategies are unable to get with customer. The social media communication should be adequate so it can fulfil the needs of tourism and existing people as well. Social media communication develops and allows company to connect and engage with potential customer at social media platforms. With strong social media strategy the ability to develop aligning with content, Green chef can engage their audience. Thus, from various people, accessing to them is not easy in person to person but with the social media platforms effectively for business to expand their promoting activities and reach to audience. The major advantages of this would be youth as they consume such activities on daily basis where new ideas, innovations are able to reach them in efficient way (Johnston and et.al., 2018). Apart fromthis.Itcreatesthebrandawarenessandgenerateleadswithcreatingmeaningful conversations with target segment by posting videos, data, etc. this will not only build the credibility with potential customers. Although, the trust relations with target customers are most important which forms future growth aspect for successful business operations. While engaging on such platforms provide company and opportunity to build the trust with customers and employee as well. People are likely to trust and suggest or recommend from family and friend than official brand channel. While driving to the precautions relate to health and safety measures, it is essential to look for the customer issues as well. The communication is the great way to analysing the problems and interest of people, being social is the responsibility to drive thinking as leadership by solving issues.
For Green Chef, thestrategy work as the same, and they can maintain more suitable outcome in improving their performance. By use of social media platforms it would be easier to identify the new trends and on the same basis they can introduce the changes accordingly which should be reliable for better customer experiences as well. Most of the tourist travel to country and sudden changes or strategies are useful so the company can be more productive to get the specific goal or objective. They can implement the new packaging related with more hygiene and health concerns of people, so such sources will be excellent for generating unique content at scale. Thereare varioussocialmediapagesfor GreenChef such asFacebook, twitter, YouTube, Instagram and appsfor mobile user like ios and android. By such facilities new and existing audience can get the information about the services and raise their queries by direct messaging features and comments. The apps provide the additional information about product and servicesand more additional provide to the website (Kircaburun, Demetrovics and Tosuntaş, 2019). The main advantage for the company is offering the discount codes for meal kit delivery. For their website people get various discounts and offering and such marketing strategies enhance the customer relations for future growth. CONCLUSION From the above report it has been evaluated about market entry strategy of Green Chef for understanding their consumer and retail environment. Also, it had been discussed about global trends and their application in local environment based on three trends. They show how these trends are relevant with Green Chef, importance of trend and what changes should be implemented in such manner. Apart from this, it executes how social media communications can be standardized or adapted in Denmark for improving the communication with target audience and sources. Further, in appendix it has been summarized that how the segmentation and buying behaviour and cultural insights.
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REFERENCES Books and journals Chew, B.C., Shen, X. and Ansell, J., 2020. Alipay entered Malaysia: a closer look at the new market entry strategy driven by Chinese tourists.Qualitative Research in Financial Markets. García, I., 2020. Cultural insights for planners: Understanding the terms Hispanic, Latino, and Latinx.Journal of the American Planning Association.86(4). pp.393-402. Hilmersson, M., and et.al., 2021. Serendipitous opportunities, entry strategy and knowledge in firms' foreign market entry.International Marketing Review. Johnson, D.K., 2019. Global trends in private agricultural research.Agriculture Innovation Systems in Asia.pp.103-113. Johnston,W.J.,andet.al.,2018.Behavioralimplicationsofinternationalsocialmedia advertising:aninvestigationofinterveningandcontingencyfactors.Journalof International Marketing.26(2). pp.43-61. Kircaburun, K., Demetrovics,Z. andTosuntaş, Ş.B., 2019. Analyzingthelinksbetween problematic social media use, dark triad traits, and self-esteem.International Journal of Mental Health and Addiction.17(6). pp.1496-1507. Pícha, K. and Navrátil, J., 2019. The factors of Lifestyle of Health and Sustainability influencing pro-environmental buying behaviour.Journal of cleaner production.234.pp.233-241. Plomaritou, E. and Menelaou, A., 2020. Charter Market Segmentation in Response to Trade’s Needs.Journal of Economics, Management and Trade.6(1). pp.78-87. Salvia, A.L., and et.al., 2019. Assessing research trends related to Sustainable Development Goals: Local and global issues.Journal of cleaner production.208.pp.841-849. Streets,D.G.,andet.al.,2019.Globalandregionaltrendsinmercuryemissionsand concentrations, 2010–2015.Atmospheric environment.201.pp.417-427. Yu, S. and Hu, Y., 2020. When luxury brands meet China: The effect of localized celebrity endorsementsinsocialmediamarketing.JournalofRetailingandConsumer Services.54.p.102010. Zou, L. and Yu, C., 2020. The evolving market entry strategy: A comparative study of Southwest and JetBlue.Transportation Research Part A: Policy and Practice.132.pp.682-695.
APPENDIX Appendix one segmentation and buying behaviour In Denmark, Green Chef has advantage to target tourism which help to generate the market of company and add value to their company profit as well. Most of the target customers are the tourist who are millennials, it drives that meal kits are time saving form them and influences daily practices. By using meal kits they can use meal kits and no longer to visit the supermarketsin order to get their groceries (Pícha and Navrátil, 2019). Tourism buying behaviour is more favourable rather than existing customer of country, due to several ways they will likely make benefit. People from young age group make the use of online sources which is convenient for them to get the online meal kit facility at their place and such will be directed towards increasing. Thus, various technology and ideas can be introduced for improving the chain of this to each more target audience. Many people in countrymay not be able to get the about such facilities being provided in the specific country. The major use of technology factor drive the business to more sustainable profit and it will result in positively as it will be appropriately align with their interest and buying behaviour. In this situation company has the great advantage and it can also lead in target markets as most of the youth prefer to have such facilities which give them various facilities (Plomaritou and Menelaou, 2020). Their lifestyle which means attitude, behaviour, decisions are proved for helping young people experience as better life outcomes. Appendix two cultural insights Communicating to the audience is important to get over their views and opinions so further changes can be implemented concerning the negative aspect. Building strong relationship with customer is important which takes time for being professional and personable with customers. For proper communications segmenting the target audience is necessary and the use of social media communications to gain the attention of consumer for providing the quality of service being provided by the company. Hofstede's culture dimension is theory of framework for cross cultural communications, it discusses the effect of culture of society on values of it members. It shows how does it relate with behaviour by using the structure traced from factor analysis. Similarly, the value of culture for green chef is important which reflect the result on it members and such behaviour conclude the outcomes to the business activities. It is important to get information about various sources and difference between countries. By following Hofstede 2
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theory Green Chef can analyse their culture to seek such differences and manage them on their own basis (García, 2020). The target audience can get the attention from competitors as well while understanding the preferences and conveying the message is important to build and manage the relation with them. By use of these sources it would identify difference in value and beliefs concerned with goals. Lack of communicating sources with audience can lead to mismanagement and several inadequate results for company image. By understanding the difference and introducing the use of social media communication will be easier to convey message to audience efficiently. 3