International Business Strategy And Report

Running Head: MARKETING
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MARKETING

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Table of Contents
Introduction......................................................................................................................................2
Analysis of the Singapore nation.....................................................................................................2
Industry (5) Forces...........................................................................................................................5
International business strategy.........................................................................................................6
Entry mode strategy.........................................................................................................................7
Strategies to increase the profitability.............................................................................................8
Conclusion.......................................................................................................................................9
Bibliography..................................................................................................................................10

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Introduction
Wickedly welsh is known as the chocolate organization and located in the Haverford
west, Pembroke shire, Wales. It makes its chocolate within the premises. Visitors have the
options to experience the hands on the demonstration of the chocolates within the shop. The
product of the organization is available within the 25 outlets in local area. In 2014, Mark Owen
started the business of Wickedly Welsh chocolate. The product range of the organization is
diabetic friendly. The organization creates the many range of the chocolates that is in the high
quality within the flavors. This is useful to reduce the blood pressure and many other factors of
risk like the diabetes and dementia in body. One of the organization product 24 unforgettable
Milk and Dark Chocolate Puddles is beautifully packed with the crafted chocolates. Anybody
will be delighted to get this product as a gift. There are many flavors of the organization which
are famous like Strawberries & Champagne Raspberry & Vodka and Hazelnut Praline with the
Cocoa Nibs within the dark and orange & Honeycomb, intense with the 42 percent Cocoa and
the Sri Lankan Chain Tea. The following discussion will cover the analysis of the Singapore
nation through the industry five forces and many strategies.
Analysis of the Singapore nation
Singapore is known as the one of the leading nation in terms of the business and
technology. Industry of the technology development of the Singapore is regularly growing with
the fast speed and has the positive impact on the technical advancement. This nation is the
sovereign city state which is the highly developed economy (Brouthers, 2013). This is officially
recognized as republic of Singapore. The analysis of the Singapore nation will be done through
the PEST analysis.
 Political factors
Singapore is known as the Parliamentary democracy in which head of the state is President and
head of the government is the Prime Minister. This is stable nations within the south East Asia.
This is the member of IMF, ASEAN, UN, and many other prestigious institutions. The Singapore
government focuses to attract the foreign direct investment and have the significant key to
success of economy of the nation. This nation has done the good work against the corruption

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(Song, 2014). This nation was placed the third least with the corrupt nation in the globe with the
transparency international corruption perceptions index. It faces the many restrictions regarding
the basic rights to the expression of freedom, peaceful assemble, and association (Human Right
Watch, 2019).
 Economic factors
The market of the Singapore is attractive as the 38th biggest economy within the globe. The
product of Wickedly welsh chocolate 24 unforgettable Milk and Dark Chocolate Puddles will
attract the customers as has the highly developed economy that is highly sophisticated and
creative work forces. This nation has seen the remarkable growth within the previous years. The
GDP in 2019 was expected to be around the $359.6 billion compare to the GDP in 2018 $323.9
billion with the $94105 GDP per capita (US News, 2018). The rate of Unemployment decreased
and reached to the 3.77% in 2018, compare to the 3.91 in 2017 (Plecher, 2019). The rate of the
corporate tax is charged with the flat rate of the 17%. It is also known as the largest recipients of
the foreign direct investment within the globe.
Main players of the chocolate in the Singapore are Royce and Marau. These both are the
leading players within the chocolate industry of the Singapore. Products of the organizations are
sold within the small rectangular slabs and dusted with the cocoa power coat. The product of the
organization is stored within the refrigerated conditions. Customers are full of praise for the
luscious mouth feels and delicate the texture as softer compare to the other types of the chocolate
bonbons. The share within the market of Singapore is 08% and 10%.

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Market share analysis
Potential
customers
Rate of
growth
(%)
2015 2016 2017 2018 2019 CAGR
(%)
Under 30 12 36000 40320 45158 50577 56646 12
Over 30 9 28500 31065 33861 36908 40230 9
Other 0 0 0 0 0 0 0
Total 10.70 64500 71385 79019 87485 96876 10.70
(Market Research, 2020)
 Social factors
It is known as the wealthiest country in the globe. This is the multi ethnic nation with the total
population of the 5.64 million in 2018. Life expectance for men and women are 79 and 84 years.
This nation is conservative because of the influence of the dominants faiths like Buddhism,
Taoism, Islam, Hinduism, and Christianity. The demographic analysis of the Wickedly Welsh
product 24 unforgettable Milk and Dark Chocolate Puddles will be effective. One of the
competitive organization Dove chocolate have the index number of 85 which used by the people
who are under 24. The organization Wickedly Welsh for the product 24 unforgettable Milk and
Dark Chocolate Puddles will analyze the demographic factor. The customers of the organization
will be male and female. The age is 18-55 that draws off the combination of the students of the
university and locals in the community.
Demographics Index
Under 24 85
25-34 74
35-44 88
45-54 108
55-64 130
Over 65 136
(Numerator, 2020)
 Technological factors

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To move to the supplementary innovation driven economy, policies of the competition will be
critical to maintain the environment of the business which rewards innovation through the
effective technology. Organizations in the Singapore are protected from harms of the anti-
competitive practices which focus on the innovating and competing to deliver the better quality
services and products at the competitive prices to a customer that is the driving force for the
growth of economy in the recent years (Trantow, et al., 2013).
Industry (5) Forces
The porter’s five forces model is very useful to understand the strength of the present
competitive position and expected position (Indiatsy, et al., 2014). The analysis of the chocolate
industry in Singapore will help to understand the competition within the market and develop the
business strategy.
 Rivalry within the existing players
Many organizations are competing against the Wickedly Welsh product 24 unforgettable Milk
and Dark Chocolate Puddles and planning to take over on supremacy of the business for many
years. The businesses like Royce and Marau will be main competitors. The competition will be
strong (high) within the businesses as sell the same products within the some respect.
 Entry of competitors
The competitor’s entry will be difficult as there are already many establish organizations in the
market of Singapore. These are mars, kraft, Royce, and Marau. This creates the barriers
regarding the entry as very hard regarding the new organization to start. There is requirement of
the high initial capital.
 Substitute threat (moderate)
Supermarket within the Singapore incline to copy the popular chocolate and deliver own brand
on shelves with the cheap price. Chocolate scores the high compare to the substitutes as easy to
preserve.

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(Smith, 2020)
 Buyers bargaining power (moderate-high)
Wickedly Welsh product 24 unforgettable Milk and Dark Chocolate Puddles are scattered around
the globe and are within the billions. The increase number of the competitors offers the similar
products with the low rate can cause the customers loyalty alteration.
 Suppliers bargaining power (Low)
There are large numbers of the suppliers in the Singapore. The Wickedly Welsh product 24
unforgettable Milk and Dark Chocolate Puddles has high bargaining power compare to suppliers.
The organization has the choice to purchase the raw materials at low price and more within the
bulk compared to medium size organizations could.
International business strategy
This refers to the plans which guide the commercial transactions that take place between
the entities within the different nations (Ang, Benischke, & Doh, 2015). The international
business strategy refers to the actions and plans of the private organizations and the objective is
to increase the profit. The international business strategy for the Wickedly Welsh product 24

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unforgettable Milk and Dark Chocolate Puddles will be based on thee standardization strategy. It
will help the organization to treat the entire world as the one market with the meaningful
variation. The assumption of the organization will remain the same as one product can meet the
requirements of the people everywhere. Tools and equipment’s with the informational
technologies are widespread and require little customization for the local conditions. This
organization will be capable to expand in the Singapore by the use of standardization strategy. It
will be effective to meet the local taste of the Singapore people. This strategy will help the
business to produce the efficiency through centralizing the common actions like design of the
product, gaining the economics of the scale within the manufacturing by simplifying the chain of
supply and minimize the costs of the marketing and increase the response of local people. The
Wickedly Welsh will use the cultural control mechanism to consider the cost or implication.
 Cultural controls
The organization Wickedly Welsh product 24 unforgettable Milk and Dark Chocolate Puddles
will be control in the Singapore through deriving the maximum profitability and output and
important attribute to measure the efficiency of the organization. It will help the organization to
adopt the values and norms. Employees within the organization incline to control the own
behavior by following the cultural norms of the business. This will minimize the direct
supervision dependence while applying more effectively. Organization with the robust culture,
automatically flourishes the self-control that minimize the requirement for the control
mechanism.
 Functional structure
This will be effective regarding the set of every portion of the business that groped according to
the purpose. There will be department of the marketing, sales, and production. It will work very
effective for the Wickedly Welsh product 24 unforgettable Milk and Dark Chocolate Puddles for
every department that rely on the talent and knowledge for the employees and support the
organization.

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Entry mode strategy
Foreign direct investment is known as the form to controlling the ownership within the
business in one nation by the entity that is based within another nation (Dobrivojevic, 2013).
This is distinguished from the foreign portfolio investment through the notion of the direct
control. This is strongly recommended to organization for the alliance and green field strategy
regarding entering in the market of Singapore to set the business. The good strategy will be the
green field strategy as enter in the market without the help of another business that is already
present in the Singapore. Wickedly Welsh product 24 unforgettable Milk and Dark Chocolate
Puddles will become capable to identify the market within the detail and localities can be
targeted. The product quality can be effectively monitored and Wickedly Welsh product 24
unforgettable Milk and Dark Chocolate Puddles will come with the innovative flavors and the
effective strategies.
Strategies to increase the profitability
There are highly favorable conditions of the tax in the Singapore with the less barriers
regarding business which actively attract the investors from the global market. The sector of
tourism is the main reason to enter within the market. There are huge numbers of customers
within the market (Radanliev, 2015). The organization has the option to establish the business by
inviting the more number of customers. The business also has the option to manufacture the 24
unforgettable Milk and Dark Chocolate Puddles as per the preference of localities within the
Singapore. The organization has taken the more initiatives regarding the many marketing
strategies to promote the market presence within the confectionary market of the Singapore. The
strategies of the organization will be effectives to find the new customers and increase the rate of
conversion by review the structure of current pricing.
Market penetrate strategy will be effective to manage the greater dominance within the
market (Slangen, 2013). This strategy will help to focus and capture the large share within the
existing market. Ansoff matrix is the strategic planning theory which delivers the framework to
support the senior management, executives, and marketers which devise the strategies regarding
the future growth. This marketing model is useful as help the businesses to decide the strategic
direction regarding the portfolio of the product and target markets. The completion in the

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businesses has been seen regularly as the main tenet of the Singapore’s economic strategy. It
maintains the policies of free and open economy which support the nation’s economic growth
and allow the nations to be regularly ranked as the most competitive economies around the
globe. Privatization of the state owned entities is regularly increasing as dynamic economic
environment because of the globalisation, competition laws and policies which are critical for the
economic development of nation as define the environment rules in which organizations interact.
Conclusion
In the limelight of the discussion it can be concluded that Wickedly Welsh product 24
unforgettable Milk and Dark Chocolate Puddles will get the huge success. Organization will
become more capable to maintain the profitability within the long term by maintaining the loyal
customers. The Wickedly Welsh for the product 24 unforgettable Milk and Dark Chocolate
Puddles with the external analysis will gain the competitive edge. Organization will gain the
effective information to design the business plan by changing preferences of the customers. The
business will regularly work for the society to protect the equity and goodwill. It will expand
business within the international market by analyze the business factors.

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Bibliography
Ang, S. H., Benischke, M. H., & Doh, J. P. (2015). The interactions of institutions on foreign
market entry mode. Strategic Management Journal, 36(10), 1536-1553.
Brouthers, K. D. (2013). A retrospective on: Institutional, cultural and transaction cost influences
on entry mode choice and performance. Journal of International Business Studies, 44(1),
14-22.
Dobrivojevic, G. (2013). Analysis of the competitive environment of tourist destinations aiming
at attracting FDI by applying Porter’s five forces model. British Journal of Economics,
Management & Trade, 3(4), 359-371.
Human Right Watch. (2019, 02 23). Industry of the Singapore. Retrieved from Economic
Growth: https://www.hrw.org/asia/singapore
Indiatsy, C. M., Mwangi, M. S., Mandere, E. N., Bichanga, J. M., & George, G. E. (2014). The
application of Porter’s five forces model on organization performance: A case of
cooperative bank of Kenya Ltd. European Journal of Business and Management, 6(16),
75-85.
Numerator. (2020, 02 23). Dove Chocolate. Retrieved from Snapshot:
https://snapshot.numerator.com/brand/dove_chocolate
Plecher, H. (2019, 09 04). Rate of Unemployment in Singapore. Retrieved from Statisca:
https://www.statista.com/statistics/378643/unemployment-rate-in-singapore/
Radanliev, P. (2015). Green-field Architecture for Sustainable Supply Chain Strategy
Formulation. International Journal of Supply Chain Management, IJSCM, ISSN, 2050-
7399.

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Slangen, A. H. (2013). Greenfield or acquisition entry? The roles of policy uncertainty and MNE
legitimacy in host countries. Global Strategy Journal, 3(3), 262-280.
Song, S. (2014). Entry mode irreversibility, host market uncertainty, and foreign subsidiary
exits. Asia Pacific Journal of Management, 31(2), 455-471.
Trantow, S., Hansen, A., Richert, A., & Jeschke, S. (2013). Emergence of innovation–eleven
strategies to increase innovative capability. In Automation, communication and
cybernetics in Science and Engineering 2011/2012 (pp. 161-189). Springer, Berlin,
Heidelberg.
US News. (2018, 06 05). Overview of the Singapore. Retrieved from usnews:
https://www.usnews.com/news/best-countries/singapore