International Marketing: Evaluation of Target Market, Market Entry Strategies, and Impact of COVID-19

International Marketing
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Part 1 Evaluation of target market along with its opportunities and threats..........................3
Part 2 Identification and evaluation of market entry strategies..............................................5
Part 3 Recommendations regarding impact of COVID 19 pandemic on chosen market entry
strategy...................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
The ultimate objective and goal of any organisation is to earn maximum profits. There
are various ways through which this objective can be achieved, one of the main technique is to
expand the business in other countries with same concept (Cateora, c Gilly and Graham, 2015).
This process of expansion is not at all a easy task as before expansion there are various
considerable factors. This report is divided in three parts which discuss the elements those needs
to be considered before taking the step of expansion. This report focuses on planning of
expansion of Eggfree Cake Box in a totally new market i.e., India. First part of the report analyse
the potential of this new market, second part throes light on different strategies those can be used
to enter into a new market and in last, there is a discussion regarding impact of ongoing global
pandemic on chosen strategy of entering into a new market.
MAIN BODY
Part 1 Evaluation of target market along with its opportunities and threats
According to statistics, it is clearly visible that India has highest vegetarian population
(38%) (Countries with highest rates of vegetarian, 2020). Bringing an idea of egg less cake can
prove to be a very good strategy for increasing profits. Chosen organisation for this report is
Eggfree Cake Box. It was opened as a small store in east London in 2008. the main objective of
this business was to introduce people of London with the concept of celebration cakes without
using Eggs. They stressed on the point of no alteration with quality or taste even without eggs.
India is chosen as the new market due to the main reason that it has highest vegetarian
population in world. Population of this country strongly believes in this type of food and they
also have there religious beliefs associated with this concept (Cateora and et.al., 2020).
In India, there is a large untapped market which is interested in baked items, such as
cakes and pastries, but cannot have it. This is due to use of eggs in these items. In accordance of
this analysis, it can be stated that a big brand entering into this huge untapped market holds large
potential. Before entering into this market, it is necessary to analyse some of the factors those
can impact the entry:
 Political Environment: India is considered to be the largest democracy in the world
(PESTEL analysis of India, 2017). It is having a stable political environment
(Opportunity) and the regulations have stability. Due to these factors, introduction and
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