Oktra's International Marketing, Innovation, and E-Commerce Report

This report assesses Oktra's potential for international expansion, focusing on an Asian market entry. It employs STP analysis to justify market selection and evaluates adapting or standardizing the marketing mix using a glocal approach. The report proposes a promotional strategy, emphasizing digital presence considerations for the new target market. It covers political, economic, social, technological, legal, and environmental factors, along with segmentation, targeting, and positioning strategies. The report also examines standardization, adaptation, and glocalization approaches, recommending Oktra to adopt a glocalization strategy. Furthermore, it outlines a promotional strategy based on the AIDA model, focusing on attention, interest, desire, and action. The report concludes with recommendations for Oktra to enhance its international marketing efforts and digital presence, ensuring successful market entry and sustainable growth. Desklib provides resources for students seeking similar solved assignments and past papers.

International
Marketing Innovation
and E-Commerce

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Background of Product and Target Country...............................................................................3
STP..............................................................................................................................................5
Glocalization...............................................................................................................................8
Promotional Strategy.................................................................................................................10
Digital........................................................................................................................................12
SEO...........................................................................................................................................13
Analytics...................................................................................................................................14
CONCLUSION..............................................................................................................................14
Recommendations.....................................................................................................................14
REFERENCES..............................................................................................................................16
Books and Journals ..................................................................................................................16

INTRODUCTION
Business environment is dynamic and to compete in the market there is need of bringing
innovation. A business organisation must analyse the updates in market and expand their
business constructs and social support on social commerce intentions (Peng, Wang and Rong,
2018). This report is based on Oktra. The company was established in UK in 1995. The
organisation provides interior designing services. The company is planning to expand their
business in Asia. This report is based on the target customers in the new market and the best
strategy that will help the company to achieve success. The use of digitalisation and web
presence that will help the company to attract customers is part of this report. In the end
recommendations are mentioned.
MAIN BODY
Background of Product and Target Country
 Political Analysis: It is important to note that political analysis consider the taxation
policy, tariffs and trade policy of the nation. It is seen that there are good trade relations
observed in Asia. They will welcome Oktra to expand their business and start operating
in Asia like in Singapore.
 Economic Analysis: It includes economic factors such as employment rate, inflation rate,
interest rate. It is analysed that the government in Asia is concentrating on economic
development and a new business will help to enhance employment in the nation (Chong,
Ong and Choo, 2019). Oktra will enhance the employment opportunities in Singapore
and other nearby countries in Asia.

 Social Analysis: It includes the needs and wants of the customers. The preferences of the
customers are different from each other. The social needs of customers in different nation
is different. It is necessary for Oktra to analyse the demand of customers in Asian
countries so that they are able to serve them effectively. The needs and wants of
customers in Singapore that is in Asian market are different from UK.
 Technological Analysis: It is important for Oktra to use updated technology so that they
are able to attract the customers in Asian market.
 Legal customers: The laws and legislations must be followed in order to start the
business in an effective manner. It will help Oktra to expand the business in an
appropriate manner. Oktra must register the business in Asian market and follow all the
laws applicable here.
 Environmental Analysis: Oktra must follow the principles of sustainability so that they
are able to form strong image in Asian markets.

STP
It is one of the method that helps a business organisation to select best customers that they
can serve. It is important to choose best customers and then provide them services as per the
requirements (Jin, 2018). The model is discussed below:
Segmentation: It is first step in this process that divides the overall population in small
segments. The task is to create various segments on some specific criteria so that they have
common needs and wants. The basis of segmentation that are used by Oktra are as follows:

 Demographic segmentation: It is a basis of segmentation where the group is divided on
the basis of age, occupation, gender, education level, etc. It is seen that it helps the
customer to choose best among them.
 Geographic segmentation: The audience are divided on the basis of country, region,
state, province, etc. As the customers living in same region have similar needs and wants.
 Behavioural segmentation: It is up to the behaviour of the customer group. The
audience are divided according to the way they interact with the business. It is necessary
to analyse how much they buy; the pattern is decided herein. Psychographic segmentation: It is necessary to understand the needs and wants of
customers. The Lifestyle, hobbies, activities, opinions, etc. are analysed in this basis of
segmentation.
Targeting: It is a process of selecting best individuals among the group analysed above. It is
seen that Oktra is planning to target the customers on the basis of geographic segmentation.
The plan is to grab the market of Asia and serve the customers over there. There is common
tradition and customs followed in Asia. It is important to note that there is need to understand
that psychographic segmentation. The lifestyle of the place keeps on changing because of
changes in trend. Oktra will conduct continuous research so that they are able to analyse the
culture of the place (Cui, Xiao and Zhang, 2021). By analysing the requirements of the
customers Oktra will be able to serve their needs properly. Targeting best customers will help
Oktra to satisfy the needs and wants of customers by analysing the requirements. Oktra must
works on the requirements of the customers and planning the budget.

Positioning: It is a process of setting image of the company in the minds of customers. It is
important to note that Oktra will work on setting positive image of the company. It is important
to note that in Asia they are planning to serve image that they will provide best interior designing
to the customers. They will provide online services as well as customise the offices according to
the requirements of the customers. It is necessary to work according to the set position in the
market. It is necessary to note that by setting image in the market the business organisation is
able to attract customers. It is necessary to set positive image in the market. Oktra has positioned
themselves as best office designers. They provide personalised services to the customers. They
provide value to the clients in exchange of money. It helps Oktra to serve the customers
effectively in London and get good revenue. The same will be used by Oktra to position their
services in Asian countries like Singapore.

Glocalization
It is important to note that business organisations are expanding their business. After
globalisation there is free trade seen among the businesses. It is necessary for a company to
know about the rules and regulations of the place of expansion so that they are able to perform
effectively. It is examined that the culture of each and every place is different and that is the
reason it is required to know about the same (Siji, 2021). To expand the business in an effective
manner a company must conduct proper research and analysis about the global market. In the
present case there is need by Oktra to conduct study related to Asian market. The various
approaches that can be adopted are mentioned below:
Standardization: It is an approach that believes that a union of culture has similar
environment and customer demand. It is believe that all the Nations have similar type of culture
in demand around the globe. It is argued that there are less trade barriers scene in global market.
Standardization also believes that the technological differences are also less and the strategy in
entering the global market is easier. They will leave that to enter the global market the target
must be lower cost so that they are able to attract the customers in global market. (Adam,
Mahrous and Kortam, 2017). Companies normally adjust their prices according to the places and
provide globally standardized product. As per the standardization approach, there is no need to
make extra changes in the products and services offered by the company the task is to provide
the same functional reliable as well as low price product in the nation. The long term success of
the organisation is concentrating on the wants of the people rather than identifying the
differences among them. The process states that there is need to provide a long-term standardised
product for the markets.
Adaptation: Adaptation is another approach that focuses on customisation. It is
important to note that the fundamental basis of adaptation is to enter the foreign Market by
considering all the environmental factors. All the important point such as climate, occupation,
taste, education, language, law and societies act must be taken into consideration. It is approach
that helps the company to achieve goals and objectives effectively (Alsaad, Mohamad and
Ismail, 2019). It is necessary to work in an effective manner so that taste and preference and
satisfy needs and wants of customers of that place. It is necessary to note that there is need to
adopt specification so that they are able to satisfy the customers.

Glocalisation: It can be defined as method of conducting the business by serving the
products and services. It is important to modify the products at global level and provide them
according to their requirements. Oktra earns revenue of around $117.76 million in UK. It helps
the business organisation to know about the trends about the market. It is necessary to work upon
the need of local market. It helps to make the product flexible and unique that is acceptable by
the people over there (Mekdessi, Makdissi and Al Jazzar, 2019). It is necessar y to note that
glocalisation makes a product globally acceptable. It makes the every one satisfied with the
products. The needs and wants of the customers are highly satisfied by the company. It is
important to work according to the requirements of the customers.
It is seen Oktra will go for glocalisation so that they are able to provide best to the
customers as per the requirements of the customers. It is necessary to understand the culture of
the place so that they are able to provide them best services. It is seen, Oktra will be able to get
economic growth of that place and earn good amount of revenue by using glocalisation. There is
need to analyse the competition and in the market and provide such services that enhance the
image of the business organisation. It is important to note that glocalisation is one of the best
approach to expanding foreign Market (Rodklai, 2021). By analysing the needs and wants of the
customers, Oktra will work in the Asian market and be able to provide them highly quality
services. It will help Oktra to adjust in the culture of the organisation enhanced their sales. To

achieve brand recognition and sale gets enhanced, Oktra will use Glocalisation strategy to enter
Asian market. Along with that glocalisation helps to connect with the customers of that nation. It
is necessary to note that the employment opportunities are also provided to the people of
international market there is overall development and chances of success in the case. The focus is
on pricing strategy of the marketing mix.
Promotional Strategy
Promotion plays a vital role in the success of organisation. It is necessary for a company to
choose best way of promoting their goods and services in order to achieve success. Oktra
company will use this model in order to advertise their product and service. The various steps
used are explained below:

Attention: It is necessary to attract the customers. In relation to Oktra, they attract the
attention of the customer so that they are able to know more about them. It assist Oktra to
influence the customers towards the organisation.
Interest: Customers are now aware about the product and services of the Oktra in global
market as well. The next step is to enhance their interest in the Oktra so that they a become loyal
customers of the company. The Oktra company will also provide best services to the customers
and this will enhance their interest in the organisation.
Desire: Now the company has to make such an image of their products that customers
desire to buy from them. By providing best services Oktra company will able to create a positive
image in the minds of customer in Asian market so that they make repetitive purchase. It is
necessary for the company to communicate on regular basis with the target audience so that they
are able to know about the needs and wants (Mamonov and Benbunan-Fich, 2017). It will help
the company to provide highly satisfied services to the customers.
Action: It is the last and ultimate goal. Under this the Oktra company initiate such actions
that will make customers avail service from them. The promotional strategy that is use of social
media marketing and SEO will be used by Oktra and it will be beneficial.
 Advantage:
 It helps Oktra to sort the current marketing activities and convert the customers towards
them. It assist Oktra to focus their efforts when optimizing their marketing activities that are
based on the customers' journey in Asian markets.
Pull or push strategy
 Pull strategy: It is a strategy that involves directing the marketing efforts to channel
partners. It is seen that target is to enhance the demand of the products and services. The
focus is to target the customers and provide them best to the customers (Loon and Chik,
2019). The company pull consumers towards their services under this approach.
 Push strategy: In this strategy the business organisation attempts to take their products
to the customers. In this strategy the marketing team works to use different marketing
channels to push their products of the company. They provide best marketing strategies