Developing an International Market Entry Strategy for Wenzel’s

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author Note

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Table of Content
Introduction................................................................................................................................2
Background to the organization.................................................................................................2
Identifying markets/Europe....................................................................................................2
Bakery market in Oceania......................................................................................................5
Market environment analysis in Australia.............................................................................6
Market segmentation..............................................................................................................7
Selection and Justification of the target markets........................................................................8
Market entry strategies and implementation..............................................................................9
Marketing mix approach............................................................................................................9
References................................................................................................................................11

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CW1: Developing an international market entry strategy for Wenzel’s
Introduction
This research report develops an international market entry strategy for the
organization Wenzel -The Bakers located in UK. The major purpose of the report is to
implement the international entrepreneurship strategy deriving an in-depth insight from the
concept. International entrepreneurship strategy has to be based on real-world facts, thereby,
the operation of Wenzel has been considered. This report is a comprehensive piece of
research and it consists of the information related to products, markets, market size and the
relation of political, cultural and economic effects on the regions. Overall, the report focuses
on two different international markets and one of the markets is located inside Europe and
another is located outside the Europe.
Background to the organization
The organization Wenzel was founded in 1975 and since its inception it has become a
favourite brand of locals in the domestic market environment of London. Overall gains of the
firm has till now been tremendous which is enabling Wenzel to expand more in other market.
Currently, the organization has more than 60 stores and overall workforce strength of the firm
is more than 500 employees (wenzels.co.uk 2019). The organization relies on long-term
objectives and to achieve the objectives the first must have to make an equal investment of
money and time alongside the significant emphasis on product development and future
design. As the operational and financial status of the organization is stable and Wenzel needs
to expand its operation into new markets.
Identifying markets/Europe
Bakery is known to be among the most dynamic food sectors in European nations
which is significantly driven by frequent innovations as well as evolving consumer

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preferences. Lloyd et al. (2014 has particularly mentioned the fact that as Europe remains the
top admire of baked goods. In order to analyse the bakery market in the European nations, the
scenario is considered at a macro level and it is observed that European bakery market could
remain as the most vital bakery markets in the world for the coming years with € 210
turnover and forecasted growth of 3.3% till 2024. Degbey and Pelto (2013) mentioned the
fact that Germany, Italy and Poland are well established with respect to product array,
channels of distribution, scope for innovation and regulations.
Nonetheless, when it is considered from a cultural perspectives, it has been identified that it is
worth stating that market is supposed to undergo significant changes because of the
increasing heath concerns, increasing disposable income as well as high demand for
convenient food products. Serrano et al. (2015) mentioned that changing consumer lifestyle
for a healthy living tends to drive the growth of bakery products like Cake, Biscuits, bread,
pasties and other breakfast items.
The European bakery products is estimated to enhance at an estimated CAGR of 2.5%
during the forecast period between 2018 and 2028. Lee et al. (2015) mentioned that growth
of European baked products market can be driven for increasing demand for healthy instant
as well as nutritious baked products. Ghasemi-Varnamkhasti and Lozano (2016) mentioned
that conventional morning goods in Europe tend to observe the increase of glue-free,
wholegrain, ancient grain as well as addictive free products. The article confirms the fact that
pastries, bread products and other bakery products are three prominent sub-category products
with respect to value based sales throughout with respect to value based sales in European
nations like Germany, Italy and France. However, Morassi et al. (2018) mentioned that
Germany is estimated to be the market leader in European baked products with CAGR of
3.0% and UK based products market is estimated to increase at CAGR of 2.9%. Nonetheless,
when it is considered at macro level the scenario is considered the picture indicate that