International Marketing Analysis - PDF

Lord and Taylor
5/2/2018
International Marketing

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Table of Contents
Introduction................................................................................................................................2
Phase 1- Preliminary analysis and screening.........................................................................2
About Lord and Taylor.......................................................................................................2
Home country Constraints..................................................................................................2
Host Country’s Constraints................................................................................................3
Phase 2- Adapting the marketing mix to the target market....................................................3
Product...............................................................................................................................3
Price....................................................................................................................................4
Promotion...........................................................................................................................4
Distribution........................................................................................................................4
Phase 3- Developing the marketing plan...............................................................................4
Situation analysis...................................................................................................................4
Objectives and Goals..........................................................................................................4
Strategy and Tactics...........................................................................................................4
Mode of Entry....................................................................................................................5
Budget................................................................................................................................5
Action programs.................................................................................................................5
Phase 4- Implementation and control.....................................................................................5
Objectives...........................................................................................................................5
Standards............................................................................................................................5
Assign responsibilities.......................................................................................................5
Measure Performance.........................................................................................................6
Correct for error.................................................................................................................6
Conclusion..................................................................................................................................6
References..................................................................................................................................7

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Introduction
This report is aimed towards the marketing plan for Lord and Taylor for the Saudi Arabia
market by considering the four phases i.e. Preliminary analysis and screening, Adapting the
marketing mix to the target market, Developing the marketing plan, and Implementation and
control.
Phase 1- Preliminary analysis and screening
About Lord and Taylor
Lord and Taylor is the oldest departmental store of United States with headquarters in New
York. The objective of the stores is to enhance the performance of high-quality stores and
their services. The key resources of the company are its human resource and trendy offerings.
However, the performance of the company is slowly going downwards which is resulting in
improper financial performance and investors are thinking to disinvest their money. The
stores are very much expert in promoting their fashion and offerings to their customers with
the help of famous celebrities. The company follows democratic management style. The
products of the company include footwear, electronics, clothing, housewares, fragrances,
jewelry, bedding, and beauty products (Lord & Taylor, 2018).
Home country Constraints
Political- the USA possess a tough democratic system and operative law, with elections that
are conducted transparently and fairly (David, 2017).
Economic- The GDP of the country is $16.760 trillion, which makes it world’s largest
economy.

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Social- Same as other developed countries, US deals with issues of the aging population
which can result in a serious labor scarcity and increasing rates of tax in future.
Technology- Technology and innovation are the keystones of the US economy (Pestle
Analysis, 2014).
Host Country’s Constraints
Political- Saudi Arabia is an empire in which the supreme power is possessed by the King.
The regulations of the government are business friendly.
Economic- Saudi Arabia is the Middle East’s largest economy and the ironic Arab country
(Reddy, 2017).
Social- Devotion towards Islamic values and upkeep of social constancy in the matter of fast
economic change has been reliable objectives of Saudi Arabia’s growth plans.
Technology- New high technology resource makes Saudi Arabia the most densely armed
country in the world.
Competition- Al Bandar Trading is the leading departmental store of Saudi Arabia
(Euromonitor International, 2018).
Geography- The most of the land of Saudi Arabia is covered by oil reserves. Oil revenue is
utilized to subsidize prices of airports, roads, hospitals, and airports.
Phase 2- Adapting the marketing mix to the target market
Product- Lord & Taylor is one of the oldest departmental stores in the US. It offers various
products such as accessories, clothes, housewares, etc. The store will design its products as
per the choice and demand of the Saudi Arabia people under the same brand name. The

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company will make some changes in the packaging of the products and will make it more
attractive by following all the standards of the retail sector.
Price- Lord and Taylor will follow the strategy of competitive pricing in order to sell its
products in Saudi Arabia market. Besides this, the company can work on offering in-house
brands for kids, men, and women. Normally, in-house brands are valued between medium to
higher range due to its finest quality. During seasonal time company can follow dynamic
pricing strategy.
Promotion- Lord & Taylor will focus on delivering a common message on every
communication medium. The company can make use of TV ads, print media, and social
media campaign. Besides this, it can appoint sales officers to sell the products through
personal selling. It can offer coupons, freebies to the customers to promote its services.
Distribution- The distribution channel of Lord and Taylor will involve intermediaries such
as wholesalers, retailers, and distributors who will supply products to the stores. Besides this,
it can offer its products directly through its official website.
Phase 3- Developing the marketing plan
Situation analysis- From the above analysis it can be said that Saudi Arabia is a good market
to expand in because there is only limited number of famous departmental stores. Besides
this, the government of the country also supports and invite different countries to establish
their business.
Objectives and Goals- The objective of the company is to design unique products for the
customers that can represent their personality. Lord and Taylor's goal is to be one of the top
departmental stores and open maximum number of stores in different countries.

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Strategy and Tactics- Company will adopt various strategies to cover the Saudi Arabia
market but before starting the business company will perform a survey on the customers in
order to identify their purchasing power and preferences of the products.
Mode of Entry- In spite of political turbulence the market i.e. Middle Eastern offers different
opportunities for global investors (The World Financial Review, 2013). Therefore, the
company can enter in the Saudi Arabia market through wholly owned subsidiaries.
Budget- In Saudi Arabia Company can adopt envelope budgeting in order to maintain the
money track. Similar to common budgeting, the distribution of some amount to each of the
items on which money is spent. After that, the allocated amount is kept in different envelopes
with a particular label (Nelly, 2017).
Action programs- Here company will follow some steps in order to implement its program:
Collection of all the resource needed
Pruning of the unnecessary items
Organizing and Prioritizing
Working (Mind Tools, 2018)
Phase 4- Implementation and control
Objectives- Company will try to attain its objective by implementing its set objective of
offering trendy and designer products to the people of Saudi Arabia
Standards- Company has set some standard till 2020 i.e. presently, it will open its single
outlet in Saudi Arabia but till 2020 it has planned to open 5 more outlets in order to cover a
large area. The company will set some performance standards which will help in analyzing
the growth or success of the company.

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Assign responsibilities- Company will create a different team for the Saudi Arabia market
that will be responsible for managing the operations of that market.
Measure Performance- After the implementation of the marketing plan its performance and
success will be measured by increased brand awareness, customer loyalty, and website
traffic.
Correct for error- While measuring the performance with the set standards whatever will be
the deviation that will be analyzed and if possible corrections will be made in order to
continue to operations.
Conclusion
In the conclusion, it can be said that the above-mentioned marketing plan will support Lord
and Taylor to enter successfully in the Saudi Arabia market and perform effectively.

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References
David, J. (2017). Pestle analysis of USA. Retrieved from
https://www.howandwhat.net/pestel-analysis-usa/
Euromonitor International. (2018). Retailing in Saudi Arabia. Retrieved from
http://www.euromonitor.com/retailing-in-saudi-arabia/report
Lord & Taylor. (2018). Lord & Taylor is. Retrieved from
http://www.lordandtaylor.com/About-Us
Mind Tools. (2018). Action Programs. Retrieved from
https://www.mindtools.com/pages/article/newHTE_83.htm
Nelly, G. (2017). Budget: 4 Types of budgeting strategies and how to plan a simple one.
Retrieved from https://wiki.debtcc.com/personal-finance/budget-4-types-of-
budgeting-strategies-and-how-to-plan-a-simple-one.html
Pestle Analysis. (2014). PEST Analysis of USA, the Largest Economy of the World. Retrieved
from http://pestleanalysis.com/pest-analysis-of-usa/
Reddy, S. (2017). Pestle Analysis Of Saudi Arabia (UAE). Retrieved from
http://www.sachdevajk.in/2017/09/07/pestle-analysis-of-saudi-arabia-uae/
The World Financial Review. (2013). Entry Strategies for Middle Eastern Market. Retrieved
from http://www.worldfinancialreview.com/?p=719

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