International Entrepreneurship and Marketing Mix Model: A Case Study of Luminary Bakery Ltd.

This report discusses international entrepreneurship and marketing mix model with a case study of Luminary Bakery Ltd. It explains the advantages and disadvantages of marketing mix and provides reflection on learning from formative exercise. The report covers the attributes of the products, target audiences, price, and brand of Luminary Bakery Ltd. It also discusses the importance of international entrepreneurship in expanding the business and improving the brand image. The report concludes with the Gibbs reflective cycle and the skills required to manage the situation effectively.

International
Entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
Part 1................................................................................................................................................1
Critically evaluation of the model that have been used in CW1 ...........................................1
Part 2 ...............................................................................................................................................3
Reflection on learning from formative exercise ....................................................................3
CONCLUSION................................................................................................................................5
REFERENCES ...............................................................................................................................7

INTRODUCTION
International entrepreneurship is considered as an approach where an entrepreneur is able
to conduct its business activities across the national borders though any mode such as exporting,
licensing, opening sales office in another country. International entrepreneurship assist in
expending the domestic market because when the domestic market covered then entrepreneur go
for international business(Zucchella, 2021). It enables the entrepreneur to increase their sale
which help in generating profit and revenue. In this report, Luminary Bakery Ltd. has been taken
into consideration which is a social enterprise bakery that assist in creating jobs and provide
training and support to the most disadvantage women in the community. The report will explain
the marketing mix model with its advantages and disadvantages. Further, it will discuss
reflection on learning of international entrepreneurship.
MAIN BODY
Part 1
Critically evaluation of the model that have been used in CW1
Marketing mix
Marketing mix is a model or considered as a marketing tool which is consisted of various
elements and used by the organisations in order to promote its products and services. It ensure
the organisation that it is able to offer products at the right time, right place and right price to the
customers(Elgarhy, and Mohamed, 2022). The company is able to make plan for successful
product offerings and avoid unnecessary cost by using its strengths. In relation to the Luminary
Bakery Ltd., with the help of marketing mix the company is able to be proactive and helps in
understanding the requirements of the customers and determining whether the product and
services is suitable for the customers.
Marketing mix help the organisation in developing the marketing mix plan for the product that
are based on the analysis and interpretation of the factors which are discussed in relation to the
Luminary Bakery Ltd.:
 Attribute of the products: Luminary Bakery Ltd. Offers wide range of the products to
its customers which includes baked goods, celebration cake, gluten free, letterbox
brownie, letterbox treat, seasonal etc.
1

 Target audiences: Luminary Bakery Ltd(Batat, 2022). target the customers which are
from the urban and semi urban area and even it targets the customer who are health
conscious therefore it provides products that are gluten free.
 Price: The price of the products of Luminary Bakery Ltd. is raging from between 5
pound to 46 pound where brownies are 12 pound to 18 pound and cakes are ranging from
45 pound. The company also offers the gift box that ranges from 26 pound and offers
cheesecake blondie at 16 pound.
 Brand: The brand is known for the social enterprise which provide opportunity to the
women who have social and economic disadvantage, to build their future by offering
them courses, work experience and paid employment with in their bakery.
Advantages of the marketing mix
Marketing mix has many advantages to the business organisation which are described as under:
 Promotes the business to target audience: An organisation sells its products to the
customers by knowing their opinion and perspective regarding the offerings. This help
the organisation in targetting their audience, thus an organisation make the marketing
strategy in an effective way to reach out to the targeted customers(Ramkumar, Raja, and
Kureethara, 2021)(. The company research the market in order to know the preference,
habits, behaviour, wants and tastes of the customers and also know where they like to
hang out on the social media. All this information provide assistance to the organisation
to promote their business through effective strategies. In relation to the Luminary Bakery
Ltd., an organisation knows the needs of the customers and also use social media
platform inn m order to promote the products so that it can reach out to the possible
audience.
 Helps in understanding the customers: An organisation make the market research so
that it can develop the marketing strategy. The market research helps the company to
know the trends that are prevailing in the industry and make it enable to keep up with
trends and shifts of the behaviour of the targeted audience. With this digital world, the
company is able to get the information about the prospective customers by making deep
analysis of their behaviour(Sawmong, 2022). In relation to the Luminary Bakery Ltd.,
the company make analysis of the behaviour of the customers through the factors rich as
online activity, buying activity, mobile activity and interactions at the stores and shops.
2

 Helps in making brand for the business: The marketing strategy helps the organisation
in leading the business and also helps in expressing the culture, values and purpose of the
business. Thus, when the company communicate its vision to the audience so it increase
the brand value for the company. As regard with Luminary Bakery Ltd., the company
offers its best services to the customers which enhance their experience that makes the
brand value for a concern.
Disadvantage of marketing mix
 Costs of marketing: Marketing involves high cost to make promotion of the products
and brand of the organisation by using various elements of marketing such as websites,
social media marketing, email marketing, billboards, online videos, television ads etc.
Therefore, it is difficult for the smaller organisation to invest in the marketing campaign
because it needs high cost. Even the local advertising also very costly because there is
high competition in the market. With reference to the Luminary Bakery Ltd., it has its
website over which it make promotion of the products and also it uses the social media
platform in order to attract more customers.
 Time and effort may not yield a return: An organisation which have good brand image
can easily spend time and efforts on the marketing campaign because they are good
resources and when they fail so they regroup the resources and move ahead. Whereas,
there is low return on investment to the company on marketing campaign and when it
fails so it take many months to reset again.
Part 2
Reflection on learning from formative exercise
Learning helps an individual to enhance their knowledge and experiences which
provides motivation and enable him to boost the confidence level(Yang, and et.al., 2021). Gibbs
reflective cycle is a self reflection model which was developed by the Graham Gibbs which
assist the individual in learning from the different experiences for which they have to go through
the specific activity. The model has been depicted as under:
 Description: I have learned about the international entrepreneur from this assignment
and research the market to bring some innovative product and services. I have acquired
knowledge how competitors that provide competition to the organisation by using their
3

differentiation technique in the market. Therefore, I learned how an organisation conduct
research in order to bring new product in the market which help in knowing the
preference of the customers(Han,and et.al.,2022). Then, I get to know appropriate market
or the target market where a new products is being introduced by an business concern
which help in enhancing the sales and profits of the company. Moreover, I have learned
various market entries strategies that are adopted by the organisation while entry into the
two different market in different region. I gained information about the marketing mix
strategies that are used by the company in order to promote the products, so that the
customers can be encouraged to buy the products. All this learning help me in completing
my assignment and enhance my knowledge and experience.
 Feelings: I was very excited to learn about the start-ups which are initiated by the
international entrepreneur in the another countries. I attend my classes daily where the
lecturers help me in learning many more things about the international business. I make
various practical and also make industrial visits in order to know the experience of the
organisation that helps me in learning how the company target its market or know the
opinion of the customers(Hoeper, and et.al., 2021). When I was leaning about the new
entries strategies in the market so many question arise in my mind which I made clear
with my lecturer such as how these strategies help the entrepreneur in getting profit and
how an entrepreneur can analyse the environment before entering into the market. By
learning marketing mix strategies and its implication I feel motivated as I gained many
information about the entrepreneurs which can help me to be an entrepreneur in future.
 Evaluations: I went to the industrial visit where I get to know about the process of
making products of an organisation and how they can collect information about the
preferences of the customers and made products accordingly. The situation was good
enough when I saw the process of manufacturing of the products and their packaging and
went out for the delivery to the customers. I also participate in the survey program that
was conducted by the company to gain reviews of the people(Akin and Ulusoy, 2022). It
was very interesting as I move out and get reviews and learned many more things such as
the trend prevailing in the market, likes n ad dislikes of the customers and so on.
However it was really bad when scrutiny was conducted by the organisation to know the
opinion of the customers regarding the product of the company. It was conducted both
4

online and offline because to ask people about the product sometimes feel very irritated
and they refuse to answer the questions and move on and same in online mode they skip
the pages.
 Conclusion: I have have develop many skills and learn many more things from this
experience. But it can be more effective or interested when the other people show their
great interest in providing their reviews. When I would go again on the industrial visits so
I will take practical training from the organisation to build a new set up(González de
Castilla, Müller, and Smirnova, 2022). I will be able to learn the abilities of being an
entrepreneur and make my career in this area. For this, in need to develop various skills
such as critical thinking so that I would be able to take effective decision and solving the
issues that can arise in managing the business. I am required to learn leadership skills so
that I can be able to manage the team that will a help in managing the operations of the
business.
 Action: In order to improve the situation, that can arise again I am required to learn some
skills that can help me in managing the situation such as communication skills which
should be effective. This skills help me to ask question and interaction with the people
regarding the products of the company. I will always keep on learning new skills and
information enhance knowledge which help me in getting hired by the organisation. This
will help me in developing my self confidence and make me self aware and assertive. I
will gain the skills of public speaking which help me in speaking in varieties of situation
and make me able to offer thoughts during meetings and contribution to the decision
making by communicating the complex ideas. It makes me able to communicate the
message to the people as well.
CONCLUSION
From the above discussion it has been concluded that the international entrepreneur has
great importance as it help in expanding the domestic market and expand the business
international. It helps in globalisation of the competitors and the customers as well which
increases the opportunity for the business for the growth and motivated the company to bring
innovative products. It also help the company in improving the brand image by providing their
bes services to the customers which increase their experience and make them loyal. The report
has discussed about the international business and the marketing mix mode which is used by a
5

business concern in order to [promote the products and services. This help the organisation to
make the people aware about their offerings. Further the report has explained the advantages and
disadvantage of the marketing mix nad provided reflection on learning by using the Gibbs model.
6

REFERENCES
Books and Journals
Zucchella, A., 2021. International entrepreneurship and the internationalization phenomenon:
taking stock, looking ahead. International Business Review, 30(2), p.101800.
Elgarhy, S.D. and Mohamed, L.M., 2022. The Influences of Services Marketing Mix (7ps) on
Loyalty, Intentions, and Profitability in the Egyptian Travel Agencies: The Mediating
Role of Customer Satisfaction. Journal of Quality Assurance in Hospitality & Tourism,
pp.1-24.
Batat, W., 2022. The death of the traditional marketing mix (7Ps) and the rise of the experiential
marketing mix (7Es). In Strategies for the Digital Customer Experience (pp. 178-194).
Edward Elgar Publishing.
Ramkumar, U.V., Raja, M.A.S. and Kureethara, J.V., 2021. Organisational Agility and 7Ps of
the Marketing Mix for the Post-COVID-19 Period: A Case Study of the Indian Informal
Food Sector. Uma Vakadae Ramkumar, Manivannan Anand Shankar Raja, Joseph
Varghese Kureethara." Organisational Agility and 7Ps of the marketing mix for the post-
COVID-19 period: A case study of the Indian informal food sector". Journal of
Contemporary Issues in Business and Government, 27(5).
Sawmong, S., 2022. A study of rice mill innovation for using in household that effects the
marketing mix satisfaction of farmers in Thailand. Journal of Public Affairs, 22(2),
p.e2315.
Yang, and et.al., 2021. An improved Fourier-series-based IGBT model by mitigating the effect
of Gibbs phenomenon at turn on. IEEE Transactions on Electron Devices, 68(7),
pp.3453-3459.
Han,and et.al.,2022. Computationally efficient Bayesian inference for probabilistic model
updating with polynomial chaos and Gibbs sampling. Structural Control and Health
Monitoring, 29(6), p.e2936.de Castilla, A.G., Müller, S. and Smirnova, I., 2022. On the
analogy between the restricted primitive model and capacitor circuits. Part II: A
generalized Gibbs-Duhem consistent extension of the Pitzer-Debye-Hückel term with
corrections for low and variable relative permittivity. Journal of Molecular Liquids,
p.119398.
Hoeper, and et.al., 2021. COMPERA 2.0: a refined 4-strata risk assessment model for pulmonary
arterial hypertension. European Respiratory Journal.
Akin, H. and Ulusoy, S., 2022. Limiting Gibbs Measures of Theq-State Potts Model with
Competing Interactions Hasan Akin and Suleyman Ulusoy.
González de Castilla, A., Müller, S. and Smirnova, I., 2022. On the analogy between the
restricted primitive model and capacitor circuits. Part II: A generalized Gibbs-Duhem
consistent extension of the Pitzer-Debye-Hückel term with corrections for low and
variable relative permittivity. Journal of molecular liquids, 360.
7

8