International Business Strategy assignment : Vinomofo

Added on - 21 Feb 2021

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International Business Strategy
Table of ContentsBackground......................................................................................................................................1Key Descriptive Information...........................................................................................................1Overview of Vinomofo and its micro-environment....................................................................1Overview of new emerging market.............................................................................................4Conclusion......................................................................................................................................6REFERENCES................................................................................................................................7.........................................................................................................................................................7
BackgroundToday, every organisation whether deals at small or large level, specifically aims toexpand its business market at international level. This would provide opportunity to enhancecustomer base and generate high revenues to operate business successfully. In this regard, forexpanding business at global level, firms that operate business as SME (small to medium sized)are needed to evaluate both micro and macro environment(Verbeke, 2013). Through thisprocess, they can develop better international strategies to integrate opportunities of emergingmarket into business. Therefore, to analyse this concept, Vinomofo firm is chosen that operatebusiness as online wine retailer in Australia, Singapore and New Zealand. It offers a range ofunique wine and brands on amazing rates with high quality. This retailer recognises as one of theleading small enterprise that has maintained its sustained revenue growth. In this regard, to enterinto new business, market analysis has been done under this assignment in terms of competitiveposition of business. While macro-environment of Vinomofo is analysed by utilising the OLEeconomical theory.Key Descriptive InformationOverview of Vinomofo and its micro-environmentVinomofo is one of the leading firm in retailing market, that offers wines with 100%Mofo Happiness Guarantee. It is founded by two Australian Brothers-in-law Vinomofo AndreEikmeier and Justin Dry in 2011. Within just seven years, they have grown business to a tribe ofmore than 500k wine-loving mofos worldwide. It's main mission is “To build a place where firmcan buy best wine products and sell the same to wine-loving mofos”(Teagarden and et. al.,2018). In this regard, its co-founders thoughts that wine is not just a delicious drink, it hascapability to bring food alive as well as makes an individual smile and feel something. Winewith unique and good texture should never be domain or intimidating of some self-proclaimed‘connoisseurs’(González-Rodríguez and et. al., 2018). It provides a flavour to life, a goodcompany and a layer of richness. Having such an amazing thought, it is going to take businessmodel and wine from outside the Australia. According to Imogen Brennan (2016), the potentialfactors of this firm to expand business globally, can be measured in terms of growth, where in2016 it has become a successful wine retailing online business, that turns its profitability to overAUS $50 million per year (Australian Online Wine Retailer Vinomofo Goes Global, 2016).1
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