Global Marketing Plan for Bakkavor's Protein Alternative Meat Product in China

This document proposes a global marketing plan for the expansion of Bakkavor's protein alternative meat product to China. It includes PEST and SWOT analysis, market entry strategy, marketing objectives, and marketing mix.

Individual report

EXECUTUVE SUMMARY
Having incorporated the roots in the core market and global locations like China, Bakkavor
is one its future plans to make expansion to a new marketplace. Measuring the options and
development potential of the Chinese market, this document purposes an global marketing plan
for assisting the expansion of Bakkavor’s new protein alternative meet product to China. By
considering PEST and SWOT analysis, the firm was identified the business environment of new
market. By considering STP analysis, the company was segmented and targeted customers as per
its new commodity. Different market entry strategy is effective and offered an option to firm to
enter in Chinese market with its protein product. Marketing mix tool was effective to offer
information about products and pricing strategy which is considered by the firm to offer
customers.

Contents
EXECUTUVE SUMMARY............................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Marketing Environment...............................................................................................................1
Competitor review.......................................................................................................................1
STP analysis.................................................................................................................................1
Market Entry Strategy..................................................................................................................2
Marketing objectives...................................................................................................................3
Marketing Mix.............................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
International marketing is explained as the exchange of goods and services crosswise
national borders to meet the needs of the target audiences. It considers customer analysis in
foreign nations and finding out the target market. It is the multinational process of planning and
executing the conception, costing, advertising and distributing thoughts, goods and services to
make exchanges that fulfil people and establishment objectives (Blut, Teller and Floh, 2018).
This report is based on Bakkavor which is an international food manufacturing organisation and
specialising in fresh prepared foods. The firm want to expand its business in China with its
protein based alternative meat product which is not manufactured from animals but are in
appearance, taste and texture exactly same as beef or pork. This written document will consider
information about marketing environment, competitor review and STP analysis of the enterprise.
Further, it will discuss about market entry strategy, marketing objective and marketing mix of
firm.
MAIN BODY
Marketing Environment
PEST analysis- PEST analyses is an external analysis in which the external factor which affects
the business activities gets evaluated. PEST is an abbreviation for Political, Economical, Social
and legal. All these factors come out of control of any organisation and it is very important to
analyses these factors. The PEST analyses for Bakkavor are as follows:
Political: Political factor includes the rules and regulations which are formed by that
region or country government. This factor may include the rules which the government set like
trade regulations, taxes, corruptions and the so on. The company, Bakkavor is a food
manufacturing company; they have to manufacture the food according to the government rules
and regulations. For example there were some of the indigents which the UK government
prohibited to use in access so the company has to put that indigent according to the government
guidance’s. Also, any increase in the prices of food ingredient can also affect the manufacturing
process, for example the rise in the prices of wheat can affect the costing of production, it will
increase the production cost (Zhang and Wang, 2019). Therefore The Company has to make the
required changes according to these laws.
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Economic: The economic factor tells about the condition or the situation about the
country. Some of the examples may include employment rates, GDP of that country, trades,
import and exports and etc. The restrictions regarding the exports and imports in other countries
have affected the operational activities of the company. Apart from this, due the Brexit the
company faced a lot of problem in regarding the importing and transporting their goods. The
company was very much confused regarding their operational activities also because there were
many restrictions regarding movement of people and goods.
Social: Social factors tell about the taste, preferences, attitude and the like about the
targeted customers. This helps the company in getting known more about the customers so that
they have served them accordingly. The Bakkavor Company can analyse the factors about the
choices of food and food related taste of the customers. The company puts major focus upon
these factors so that they can gain a keen knowledge about the customers they are serving. The
company then serves those regions according to the taste of people. For example the company
believes to serve more non vegetarian food into the markets of China because there the
population eats non vegetarian food a lot.
Technological factor: The technological factor includes the technological advancements
and awareness of that region or company. The company uses the advance management
information system in which the company can store and save all the data and information about
the activities which the company incorporates. These data helps the company in making the
correct decisions about the operations of the company. From these data and information the
company also keep an account about their customers, through which they can serve their loyal
customers more effectively. This also enables the company in reaching the customers very easily
and through that is able to maintain a good relation with their customers also.
SWOT analysis- SWOT analyses is said to be an internal analyses in which the company
analyse the internal resources about the company. SWOT stands for strengths, weakness,
opportunities and threats. Through analysing the SWOT framework, the company can form their
strategies accordingly which also gets matches with the internal factors and capabilities of the
company. Here, Strengths includes the uniqueness which the company has, weakness includes
the shortages which the company has with them, opportunities includes the chances or the areas
where the company can exploit for gaining more growth and profits and threats includes the
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areas where the company have the risks. The SWOT analysis for Bakkavor Company is as
follows:
Strengths
 The company has a good goodwill into
the market of UK.
 They also have big customer base
which are very much satisfied with the
products offered by the company.
 The company is a global company
which has the market spread all over
the world.
 The quality of food provided by the
company is very good that why people
considers to buy this company product.
Weakness
 The financial management of the
company is not so strong; they have to
bring improvements in this field.
 The company also needs to bring more
innovation and creation regarding the
food they are offering to the market.
 The technology used by the company is
also not very advance which affects the
operations effectiveness and efficiency
of the company.
Opportunities
 The company has the opportunity to get
expand into the markets where the
company has never ever set its
footprints before (Andika and Susanti,
2018).
 The company can also opt for merging
itself with the other companies also so
that they can gain an easy way growth
and profit into the targeted market.
Threats
 The company faces a lot of competition
from various companies which has
affected the company profit a lot.
 The risk also includes any changes in
the prices of raw materials which can
affect the prices of food products. This
can decrease the customer base which
the company has.
Competitor review
The company has many competitors; some of them are as follows:
Nature’s way food: The Company was establishing in the year 1969. They are very famous for
offering the organic and fresh food and salads to the market. The company is very much famous
in USA. They are originally famous and popular for the breakfasts they provide. The breakfast
which they provide are very healthy and a lot of varieties can be seen in them.
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Green core group: The Company was establishing in the year 1991 in Ireland. The company
provide the convenience food to the customers (Eggers and Moeen, 2018). The company is very
much famous into the market of UK and considers as a strong competition for the Bakkavor
Company.
STP analysis
STP stands for segmentation, targeting and positioning. It fundamental conception in
marketing growth as without it companies would have comparatively generic marketing plan of
action and basically fail to compete efficiently. The phases in STP is usually referred to as an
activity with segmentation being organised first, then the selection of one or more markets and
then lastly the implementation of positioning (Wu and Li, 2018). In Bakkavor, this concept can
be used by the administration in context of Protein alternative meet product during market
expansion in Chinese market. The brief explanation of it is as below:
Segmentation- Within it the company categorised and segmented its products so that it can
identify its target audiences. In Bakkavor, the firm can categorised its protein alternative meet
product on the basis of demographic, geographic and psychographics base. In context of it, in
Chinese market, the administration of respective organisation can make segmentation on the
basis of age, country, habit, cultural beliefs, income, occupation and interest etc.
Targeting- After making segmentation, within this phase, the management of respective
firm can make targeting to its protein alternative meet product (Andika and Susanti, 2018). In
Chinese market, they can target gym people and trainer, young age people, middle, upper-middle
and upper class and 20-40 age groups of people.
Positioning- It is the final phase; it is developed for each target segment. It is at this step
that products are positioned competitively in the segment and an explained marketing mix is
developed. Bakkavor acknowledges and has developed a USP for each brand in those segments.
In context of this respective firm, the management can positioned its products through
distributing online way. In Chinese market, the firm will position itself as a manufacturer of
healthy and protein alternative meet product.
Market Entry Strategy
It is a planned distribution and delivery tool of products and services to new target market.
In import and export services, it mentions to the creation, incorporation and administration of
contracts in a foreign nation. There are ranges of market entry strategy that can be adopted
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Bakkavor in term of expanding business in Chinese market. The description of some of them is
as under:
Direct exporting- It is selling directly into market which have selected by the firm to use
in the first instance the firm own assets. Many firms, establishments, once they have
incorporated a sales program turn to agents and distributors to represent them further in that
marketplace. By adopting this option, the respective firm can also enter is business with its
protein based alternative meat product in Chinese market (Wuryandani, Ismoyowati and
Nugrahini, 2018). It can be effective for the establishment as agents and distributors work closely
with this company and help in representing it in target market.
Licensing- It is a comparatively sophisticated arrangement where a company transfers
the rights to the utilisation of a commodity and service to another venture. It is specifically
beneficial tool and strategy if the buyer of the license has a moderately huge market share in the
market they want to enter. In context of Bakkavor, the management can select this option to enter
in to Chinese market with this protein alternative meet product. It can be beneficial for the firm
because the organization get advantageous from the licensee enterprise’s local market
knowledge.
Joint venture- It is specifically a form of partnership which considers the creation of a
third independently administrated firm. It is an activity in which two ventures agree to work
together in a specific market and form a third establishment to commence it (Shah, Azhar and
Bhutto, 2019). It is an effective and beneficial market entry method and crucial for respective
firm to enter or expand its business in Chinese market with its protein alternative meet product as
risks and profits are normally shared equally by both ventures.
From the above mentioned market entry strategies and tools, joint venture is an effective
method or technique to enter and expand business in China. It is crucial as revenue and risks are
shared by both entities equally. Along with this it may offer specialist knowledge of local
markets, entry to needed channels of allocation and evaluate to supplies of raw materials,
national authorities contracts and local manufacturing services.
Marketing objectives
The marketing objectives formulated by the establishment fro incorporating its root in the
China market are defined as below:
 To maximise the sales of the firm by 5% within next upcoming 11 months.
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 To increase the revenue and profitability of the respective firm by approx 7% in a span of
10 months.
 To develop the customer base of the establishment by 6% within a time frame of 6
months.
Marketing Mix
It refers to the set of actions, strategies that a firm utilises to publish its brand or
commodities in the marketplace (Zhang and Wang, 2019). It may also consider packaging,
positioning, people or other components. The marketing mix analysis of Bakkavor is as under:
Product- It refers to the process and activity of converting raw material in to final products
and finished goods which have vale and customer are ready to buy it. In Bakkavor, the
management offer fresh prepared foods to its target audiences. In term of business expansion, the
firm manufactured protein alternative meet product which is not manufactured from animals but
are in appearance, taste and texture exactly same as beef or pork.
Price- It indicates to the cost which is invested by the administration of company in
production of goods, distribution and other activities of business (Eggers and Moeen, 2018). In
context of Bakkavor, the management can consider penetration, discount and competitor pricing
strategies to sell it in Chinese market.
Place- It mentions to the area and place where goods and services are accessible and
consumer can reach easily to buy and get benefits of them. In reference to Bakkavor, the firm
can select Shanghai city to offer its product through grocery stores and outlets as well as it can
also offer this product though online way.
Promotion- It refers to the activity and process which is executed by the firm to create
awareness about the goods and services of company (Abe, 2019). The management of respective
firm can promote its protein alternative meet product by using different promotional tools and
channels like news paper, TV, social media and web advertisement etc.
CONCLUSION
It has been summarised form the defined information that marketing is an effective process
of selling, trading and promoting goods and services of a company. By using PESTEL and
SWOT analysis, the firm can determine the external and internal business environment of the
new market in which the firm want to make expansion. In term of targeting and positioning new
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product in to known market, the management can use and implement STP analysis to
acknowledge the market. In term of making growth and expansion in business, the firm can
operate it at global level by entering in another unknown market. For getting entry in new
marketplace, the firm can consider different marketing entry strategies and routes like joint
venture, licensing and many more. Marketing mix is an essential tool which offer information
about the product, its cost, place of availability and different promotional tool that can be use to
offer information about commodities to people.
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REFERENCES
Books & Journals
Abe, Y., 2019. Japanese Market Entry Strategy. The Case of Yamanouchi Pharmaceuticals in
Western Europe. In The Internationalization Of Japanese Business (pp. 150-155).
Routledge.
Andika, A. and Susanti, F., 2018. Pengaruh Marketing Mix Terhadap Keputusan Pembelian
Parfum di Azzwars Parfum Lubeg Padang.
Blut, M., Teller, C. and Floh, A., 2018. Testing retail marketing-mix effects on patronage: A
meta-analysis. Journal of Retailing, 94(2), pp.113-135.
Eggers, J.P. and Moeen, M., 2018. Entry Strategy for Nascent Industries: Introduction to a
Virtual Special Issue. Strategic Management Journal.
Holtbrügge, D. and Berning, S.C., 2018. Market entry strategies and performance of Chinese
firms in Germany: The moderating effect of home government support. Management
International Review, 58(1), pp.147-170.
Shah, S.A., Azhar, S.M. and Bhutto, N.A., 2019. Halal marketing: a marketing strategy
perspective. Journal of Islamic Marketing.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce. Internet Research.
Wuryandani, S., Ismoyowati, D. and Nugrahini, A.D., 2018. STP analysis in marketing
pigmented rice as functional food. KnE Life Sciences, pp.128-135.
Zhang, J. and Wang, R., 2019. Research on the Marketing Strategy of New Energy Vehicles in
SL Company. American Journal of Industrial and Business Management, 9(2), pp.306-
314.
Online
MARKET ENTRY STRATEGIES. 2020. [Online]. Available Through: <
http://www.tradestart.ca/market-entry-strategies>.
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