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International Marketing Strategies

   

Added on  2020-10-04

18 Pages4808 Words31 Views
International Marketing

Table of Contents1. INTRODUCTION.......................................................................................................................31.1 About The Brand...................................................................................................................31.2 Reasons for Entry in Hong Kong Market.............................................................................31.3 Aims and Objectives.............................................................................................................42. Justification and Evaluation of the Selected Target Market........................................................42.1 Segmentation.........................................................................................................................42.1.1 Criteria for selecting Market Segments.........................................................................52.1.2 Segmenting Consumer Markets ...................................................................................52.2 Targeting...............................................................................................................................62.2.1 Target Market Strategies .............................................................................................62.3 Positioning.............................................................................................................................72.3.1 Choosing Differentiation and Positioning Strategy.......................................................72.3.2 Differentiation and Positioning.....................................................................................93. Market Entry Recommendations ..............................................................................................103.1 Criteria for selecting Appropriate Market Entry Method...................................................103.2 Market Entry Recommendations.........................................................................................104. Marketing Objectives and Marketing Mix Strategies................................................................12REFERENCES .............................................................................................................................15

1. INTRODUCTION1.1 About The BrandFox's Biscuits company was established around 160 years ago and started from a tinyVictorian Bakery in Northern England. With time, they grew and became one of the leadingbiscuit brands in UK market. In the current scenario, they have three manufacturing sites andthey are Batley in West Yorkshire, Kirkham near Blackpool and Uttoxeter in Staffordshire. Theyare considered as one of the finest and deliciousness in unique way of baking. They have anapproach “More Yum per Crumb”. The vision of company is to make the customers happy byproviding them quality products with unique taste and remarkable experience (Yang and Fam,2012).(Source: Homepage of Company, 2017)1.2 Reasons for Entry in Hong Kong MarketThere is a common aim of every business that is expansion of it in other countries andmaking the business global in nature. Same goes for Fox Company and they are the leadingbakers in the UK market (Akaka, Vargo and Lusch, 2013). They want to introduce their brand inHong Kong market and there are various reasons behind the same which are described as below: Illustration 1: Homepage of Company

There is high demand of biscuit products and taste which is provided by cited companyhas high chances of acquiring market. In Hong Kong market, there is low price sensitivity which means that products can besold at monopoly rate like in higher price and thus, profit can be gained in an effectualmanner. There are various number of distribution channels which are present in the market ofHong Kong and thus, Fox can select certain funnels by which their biscuits can be sold.This element can be acquired by establishing and maintaining healthy relationships withsupermarket and other departmental stores in Hong Kong (Berthon and et. al., 2012). Another reasons which can be considered in style of packaging which can be done so thatcustomers can utilise while tea breaks. This can be done in various forms like 24 piecesin single box pack. Apart from that, stocks can be delivered to the supermarkets in bulk. 1.3 Aims and ObjectivesMain cause behind conducting this report is to formulate a plan for marketing of a foreignfood so that it can enter into Hong Kong Market. The main objectives of this assignment are: Determining and evaluating the target market (Section 2)Recommending ways of getting entry into the market (Section 3)Suggesting appropriate objectives of marketing and strategies of marketing mix (Section4)2. Justification and Evaluation of the Selected Target Market2.1 SegmentationIn order to reach every element and customer of market, market segmentation is utilisedby the companies. In this process, they divide the large market into smaller parts and thus, itenables them to analyse the market as well as actual needs and wants that can be justified withproducts and services so that satisfaction level can be maximised (Zhou and Barnes, 2012). Asper Kotler and Armstrong, there are certain factors which have impact on choosing the targetmarket and those are:

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