Market Expansion for Airdri Company

This report discusses the market expansion strategy for Airdri Company to grow and develop its business in new regions. It includes a situational analysis, external market analysis, and a growth strategy proposal.

Student-Led Seminar Report on:
The Entrepreneur Project ( 2019-2020)
Title:
Market expansion out of the London area to other regions by Airdri
Company to grow and develop its business.
Submitted in partial fulfilment of the requirements for
the award of the degree of
Bachelor of Arts
In
Business Entrepreneurship ( Top-up)
Module:MKT 4007 AS1
Presented by: Tutor:

Contents
INTRODUCTION...........................................................................................................................1
ORGANISATION AREA INDETIFICATION..............................................................................1
LITERATURE REVIEW................................................................................................................2
DATA COLLECTION AND ANAYSIS........................................................................................2
Situational analysis.....................................................................................................................3
External market analysis.............................................................................................................3
Risk analysis...............................................................................................................................8
GROWTH STRATEGY PROPOSAL.............................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Market expansion is an effective strategy that help company in improving their
performance in new market place. As, it provide huge opportunities to business in expanding
operational activities to attain higher growth. This type of strategy used when company wants to
enter into new market that support them in capturing larger market share from its competitors. In
this regard, company also includes who new customers are so that firm can easily engage them
towards the specific brand image (Salemink, Strijker and Bosworth, 2017). Mainly, market
expansion is refers to the business growth strategy in which company adopt a new market place.
For attaining competitive success in new market, organisation responsible for investigating
potential market and at the same time also take stock of their capabilities and assets. With the
assistance of this, company can easily meet new and potential customers and provide them
quality services as per their needs and wants. By this, organisation can increase their market
share and also established its positive brand image in new market place. This will provide
opportunities to influence or invite more and more customers towards its services that assist in
increasing profitability level at competitive market place. In relation this, there are various tools
and techniques such as SWOT analysis, PESTLE analysis, VIRO analysis and many more could
be used by company to analysis internal and external environment wherein business wants to
expand their operational activities. In addition to this, growth strategy proposal is also mentioned
in this report that assist in improving the chances of attaining competitive advantage from its
competitors at market place.
ORGANISATION AREA INDETIFICATION
Current report is based in the market expansion of Airdri company to grow their business
at new market place. Airdri is a small and medium size business organisation that operate their
business UK for generating larger profitability level. Mainly, organisation selling dryers and air
purifiers in market in order to increase their revenue. The main purpose of this company is
provide high quality products and services to its customers as per their needs and wants in
London. In order to enhance their organisational growth company also expand their business in
different regions so that large number of customers get easily attracted or influenced towards its
services. This will directly contributes in improving the chances of capturing larger market share
from its rivals and also sustain in market for longer period of time. Mainly, company wants to
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expand their operational activities in new market i.e. USA because it provide huge opportunities
to improving their brand image into new area. Before expanding their business in new market
area, it is important for company to analysis both internal and external environment as it help in
determining the areas and resources that can be beneficial for company in enhancing their
positive image in market place.
LITERATURE REVIEW
According to Kotabe and Kothari, (2016), As per current scenario, most of small and
medium companies have plans to expand and grow their business in another area wherein they
can easily increase their sales and profitability level. Thus, it is significant for business to
effectively analysis the market and new business environment wherein company can be able to
attain higher success and growth. At the time expanding and entering into new market, company
often face various unique challenges that can be put negative impact over the performance level
of business at market place. In addition to this, turning a small business into a big one is not be
an easy task so that it is critical to effectively analyse all the strategies and tools for entering into
new market area. For attaining the same, there are some important analytical framework that
could be used by the business at the time of expanding their operational activities such as
situational analysis, external market analysis, Risk analysis and growth strategy. All these can be
effective in successfully evaluating all the necessary area in which firm can expand their
business. This will contributes in providing opportunities to develop their positive competitive
image by capturing larger market share from its competitors at new marker area i.e. USA.
DATA COLLECTION AND ANAYSIS
It is important for each and every business organisation to analyse internal and external
environment before entering into new market or area. This can be provide various growth
opportunities to expand their market share. Thus, it is significant for firm whose expand their
operations into new market analyse all the area wherein they can operate (Virtanen, Björk and
Sjöström, 2017). For attaining the same, there are various analysis that could be effective for
company in analysing both internal and external business environment.
Research aim:
To investigate the importance of market expansion for business to attaining emerging
opportunity in new market. A study on Airdri
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Research objectives:
 To determine the role of market expansion in context to business organization.
 To evaluate the issues Airdri can face at the time of doing market expansion in USA.
Research questions:
 What is the role of market expansion in context to business organization?
 What are the major issues Airdri can face at the time of doing market expansion in USA?
LITERATURE REVIEW
Role of market expansion in context to business organization
According to Madura, (2020), When company wants to attain certain level of success that
firm may start to think about the benefits of expanding their business in new market. This can be
contributing in inviting new customers towards its services. Along with this, it also provides
opportunity to add new customers that may assist in increasing profitability level of company at
market place. With the assistance of this, company can build strong customer base through which
company can established its competitive image at new market area. Apart from this, market
expansion also provides benefit of enhanced economy scale. As, vendors and suppliers are much
incentivized in order to provide discounts to company in generating huge profitability at market
place.
Issues Airdri can face at the time of doing market expansion in USA
According to Keegan, (2017), entering into new market is not an easy task for business as
it creates carious issues that can put negative impact over the overall performance of company at
market place. This is the reason that business required proper plan, system and resources for
successfully operating their business in new market place. In relation to this, change in market
trends and customers wants sis major issues that create adverse impact over the expand of
business in new market place. Political and legal environment is also a major issue that company
could face at the time of expanding their business. Therefore, it is important for company to
analyse market environment before expanding. This can be assist in providing assistance in
improving their organizational growth at competitive market place.
Situational analysis
Situational analysis is a set of approaches used to evaluate internal and external factors in
an organisation. It enables businesses to use market research to determine expected growth,
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identify all new buyers, assess their competitors and determine the current situation of the
company. Situational analysis" helps to establish a context for explaining the context in which
the strategy is being implemented. It establishes a unified point of comparison for preparation
and priority activities. For this, Airdri use some appropriate tools to analyse internal factors that
affect the expansion of business at USA market place.
TWOS matrix:
The TOWS Matrix can be described as a structure for evaluating, creating, comparing
and eventually deciding on marketing strategies. TOWS is determined to be a different variant of
SWOT analysis that is one of the business tools. However, both are differentiated because of
their varied arrangements concerning words. Eventually, SWOT analysis is done firstly and later
on, it is followed by TOWS Matrix. With regards to this assignment TOWS matrix is done on
the company named “Airdri”
INTERNAL FACTOR
EXTERNAL FACTOR
Strengths (S)
 Strong Brand
Image
 Airdri’s financial
performance is
very strong as
compared to other
rival companies.
 Airdri has an
innovative
portfolio of varied
products.
 The company has
established itself
as a strong brand
with effective
marketing
capabilities.
Weaknesses (W)
 Deals in only hand
dryers and air
sanitizers.
 The company is
overdependent on
the market of the
United Kingdom.
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Opportunities (O)
 For establishing
itself in the US,
Airdri has the
opportunity of
growing its
business
through
acquisition.
 Advance
technology will
help the
company in
increasing its
distribution
network across
the United
States.
Strengths/Opportunities
(SO)
 Airdri has come
up as a strong
brand and it is
doing explicitly
well. Therefore,
low-cost options
in some of the
products will help
the company in
expanding its
business in the
United States.
 With the initial
increase in sales
and profitability,
the company will
overcome the
losses because of
the fluctuation in
the currency in
different markets.
Weaknesses/Opportunities
(WO)
 Airdri’s
collaboration with e-
commerce and other
small companies
will help the
organization in
growing relatively
fast.
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Threats (T)
 Establishing
and running the
business can be
difficult as they
have to follow
numerous legal
and regulatory
norms.
 Competitive
environment.
 Oscillation in
foreign
currency and its
exchange of
rates.
Strengths/Threats (ST)
 In order to
eliminate the
threat i.e.
competitive
pressure, Airdri
must use various
marketing
strategies and
must implement
new innovative
products. This
will help them in
attracting
customers.
Weaknesses/Threats (WT)
 Airdrie is highly
dominating in the
United Kingdom
thus, by reducing its
dependency in the
UK, the company
can improve its
brand image in other
parts of the world,
for example, the
United States.
VRIO model
RESOURCES VALUABLE RARE INIMITABLE ORGANISED
Technology ✔ ✖ ✖ ✖
Marketing ✔ ✔ ✖ ✖
Human resource ✔ ✔ ✔ ✔
Brand Image ✔ ✔ ✔ ✔
As per mentioned table it is analysed that company has valuable resources such as
technology, marketing, human resource and brand image. These sources provide assistance to
company in expanding their business activities at global level. In addition to this, Airdri also
have unique marketing strategies, skilled human resources and popular brand image. With the
assistance of this, company can compete their rivals at new market place. When talk about
inimitable resources company has talented and unique brand image that can be possible to copied
by others. This can be effective in making company image more unique and competitive as
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compare to its competitors. On the other side, Airdri has organised human resources and brand
image by which competitive edge from rivals can be easily attain. By this analysis, company
have opportunity to expand their business in another location i.e. USA because of its advance
technology, unique marketing activities, skilled and valuable human resource and competitive
brand image. With the assistance of this, company can easily sustain in competitive market for
longer period of time.
External market analysis
External analysis is refers to the important aspect which help in examine the industry
environment. Mainly, it is consider as an objective assessment of changing market wherein
business operates their activities. Any kind of changes in external market may directly affect
over the company because it is totally uncontrollable and also dynamic in nature (Schaltegger,
Lüdeke-Freund and Hansen, 2016). In relation to this, Airdri operate their commercial activities
in London and at the same time also planning to expanding their business in new market i.e.
USA with the aim of improving their market share by capturing larger market share from its
competitors.
PESTLE analysis
It is consider as an important framework of macro environmental factor that used to
analysis as well as monitor all the external factors that have profound impact over the
organizational performance. Mainly, it is an important tool that useful when company start their
business and also entering into new and foreign market. It provide clear understanding of
situation of market to business so that expansion can be successfully done. This is the reason that
Airdri use Pestle analysis as a tool to analyse the external market of USA:
 Political: It is one of the important factor for business at the time of expanding as it
provide various rules and legislations that must be followed by company for operating
their business successfully (Chaffey, 2019). In this context, USA has a strong democratic
setup and also have a effective rule of law. As, USA market is effective for Airdri in
expanding their business because the political environment is stable in nature and also
have advanced infrastructure and technologies. This can be beneficial for company in
sustaining in market place for longer period of time.
 Economical: This type of factor have direct impact over the company's long term
prospects in market as it affect how business set their product prices to offer their
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services in market place. In USA, its economic system is well developed in which Airdri
can operate their business successfully and at the same time also improve their
competitive brand image.
 Social: USA is most developed country but it also face the issue of aging population
which can increase the tax rates. This can be put adverse impact over the business at the
time of expansion. In addition to this, people are generally health conscious and prefer to
eat healthy and quality products. Thus, it is important for company analyse demand of
customers before providing them services. This can be contributes in improving the
possibilities of attaining higher satisfaction level.
 Technological: USA is a global leader in technology and also have long-standing
fascination for technology. Along with this, USA has been at the forefront for adopting as
well as applying advancement of technologies within the wide variety of fields. Use of
technologies may have changed the way to things in undertaking business activities
(Parker, Van Alstyne and Choudary, 2016). This is beneficial for Airdri in expanding
their business as they also use new and advancement of technologies within the
operational activities. This will assist in improvising the possibilities of attaining success
in market place.
 Legal: Each and every nation have their own government that includes specific laws and
regulation that must be followed by company to operate their business. In this regard,
USA has its own government structure and legal scheme. Therefore, operating its
business in specified legal structure is important for Airdri while expanding its business
in new country. As USA also provide a strong legal structure in which company can
easily protect intellectual property rights and enhance their competitive image.
 Environmental: It is also important for company in maintaining eco-friendly environment
at the time of operating into new market place (Tidd and Bessant, 2018). In this, USA has
as extremely diverse geography, climate and wildlife. Moreover, USA also faces some of
toughest weather conditions in the world. Thus, it is important for Airdri to analyse the
same and operate their business accordingly. This can be beneficial in improving their
positive brand image at market place.
Porter's five forces
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In a competitive environment, it is refers to the appropriate frameworks that used to
analyse competition of business within the market place. With the use of this model, company
can easily analyse the competition level within the new market. This can be beneficial for
increasing the long term profitability and at the same time also established its competitive image.
This type of model used by Airdri to analysis the competitive market. As it includes five forces
such as:
 Competition in the industry: This factor is based over the number of competitors operate
in market place. In USA market, large number of competitors along with equivalent
products and services that they offer in market. This is the reason that this face includes
high power so that Airdri needs to serve unique and high quality of products in market in
order to compete their competitors. This can be beneficial for improving the performance
level of company at competitive market by increasing its sales and profitability.
 Potential of New Entrants Into an Industry: In market place, there are number of
companies are entering into new market for generating larger profitability. As it directly
affect the overall performance for Airdri and also can be reduce its brand image. In this,
new entrants into an industry has high power that can be reduce the demand of Airdri
products. This is the reason that company offer their quality products at lower cost so that
large number of customers get attracted towards its services (Kotabe and Helsen, 2020).
 Power of suppliers: In market place, company is totally depend over the suppliers as it
also impact over the profitability level business. As suppliers has more power and also
can be able to dive up input cost and push for other advantage. In this regards, there are
number of suppliers and have moderate power to supply raw materials. As there are huge
option in-front of Airdri to buy raw materials from suppliers. Company buy material
from suppliers who give materials at lower cost (Battistella and et. al., 2017). This can be
effective in increasing profitability level at competitive market place.
 Power of customers: In market place, customers have ability to drive prices lower within
the company as it is also affected by how many buyers are there. As customers has high
power to drive the cost in which buyer can easily switch to another business who serve
services at a low cost. In order to invite larger number of buyers, Airdri offer high quality
services at lower cost. This can be contributes in improving the chances of profitability
level at new market place.
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 Threat of substitutes: In market place, substitute good and services give threat to
company in market place. In relation to, Airdri face high power of threat of substitutes in
the industry. In order to compete their competitors, company produce quality and unique
services along with affordable cost. This can be contributes in improving the possibilities
of capturing buyer attention towards the company and its services. This can be
contributes in enhancing positive brand image at USA market and also established its
competitive image for longer period of time.
4Ps of Airdri
Marketing is considered as an important process that used by company to promote its
products and services in new market with the aim of generating larger profitability. Along with
this, it is also refers to the fundamental model for business that focus on company product, price,
place and promotion. With the help of this, organisation can easily meet all the marketing
objectives in the target market and attain competitive success. In this context, Airdri also use
4Ps of marketing mix in order to promote their business in USA market for capturing larger
market share. These can be understood by following points:
 Product: It is an important aspect that used to fulfil customers needs and wants. Airdri
includes different products including hand dryers air purifiers and many more which
serve in market place with the aim of generating larger profitability (Vellas, 2016). In
order to attain success in market place, Airdri also focus on producing high quality of
services to its targets customers as per their needs and wants.
 Price: In order to increase sales volume, product price is one of the crucial element in
which company set appropriate cost of their products line so that number of buyer can
influenced and attracted towards the same. In relation to this, Airdri use competitive
pricing strategy in which company set their product price as per competition in market
place. With the help of this, company can influence their customers to buy products as
per their needs and wants.
 Place: It is significant for company to identify right place to sell their products so that it
can easily reach larger number of customers in an effective manner. Currently, Airdri
operate their business in London but also wants to expand their business in USA for
capturing attention of new customers towards its services (Blank and Dorf, 2020). It may
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improve the possibilities of increasing strong customers base through which Airdri can
attain competitive success in market.
 Promotion: This type of factor is all about communicating the values within the market
and also promote their unique brand image by using different promotional channels such
as advertising, direct marketing, sales promotion and personal selling. By using this,
Airdri can easily get the target customers and at the same time also established its
competitive brand image at wider market place.
Ansoff Matrix:
It is refers to the strategic planning tool that provide an effective platform to business
organisation in developing strategies for future growth. Mainly, it help in determining the risk
that a specific growth strategy expose you move from one section to another. This is the reason
that Airdri use this type of matrix as it provide strategic direction to improve their brand image in
new market place. This can be understood by following points:
 Market penetration: It is an important strategy in which company focus on selling
existing products in existing market place with the aim of inviting more and more
customers towards its services. In this, Airdri needs to find new ways to increase loyalty
of customers by delivering quality products as per customers needs and wants.
 Market development: This type of strategy is refers to the effective approach to invite
new customers by selling existing products into new market place. In context to this,
Airdri enter into new market i.e. USA and serve existing products with the aim of
inviting new customers (Keegan, 2017). This type of strategy is also effective in
increasing its sales and profitability by offering quality products as per customers needs
and wants. In order to improve their market share, Airdri also use different sales channels
to communicate with new and target customers. By this, company can capture larger
market share from its competitors and at the same time also established its positive brand
image.
 Product development: Under this type of strategy, company focus in introducing new
products into existing market with the aim of influencing their buyers. This can be
contributes in providing opportunities for inviting existing customers in order to attain
competitive success in market (Madura, 2020). For this, company also take customers
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feedback in relation to development of new products. This can be improve the chances of
increasing the sales volume.
 Diversification: This type of strategy is quite risky because it focus on selling new
products into new market. Mainly, it required enough research and fund to entering into
new market along with innovative products. This can be effective when company have
proper knowledge about the new market and customers demand. Uniqueness and
innovation in product line may assist in improving the possibilities of attaining
competitive edge from its competitors.
From the above mentioned strategies, market development is an effective approach for
Airdri in order to enter into new market. It provide huge opportunities in improving their market
share. In this context, Airdri is going to expand their business activities into USA for attaining
success. For this, company needs to undertake an effective research that provide all the important
area in which company can easily improve their competitive performance. With the use of this,
Airdri can grow their business and at the same time also reach new customers in an effective
manner. This will directly contributes in increasing customers base and also increased revenue in
new market place.
Risk analysis
Risk assessment is a technique that allows company to recognise and manage possible
challenges which might hinder key business initiatives. In order to carry out a risk analysis, the
organisation must first evaluate the key risks to the business and then assess the probability that
these threats will eventuate (Glover and Kusterer, 2016). In relation to this, there are various risk
that could be faced by Airdri at the time of expanding their business activities in new market
place. By analysing all the risk factors company can easily eliminate the negative impact and at
the same time also enhance their performance at competitive market place. As there are some
major risk factors that needs to be analysed before expanding:
 Employment risk: Employing people and at the same time managing team also refers to
the employee risk that company can faced at the time of operating their business in
market place. This is the reason that Airdri needs to manage their employees and provide
them appropriate job roles so that they can give their best efforts for accomplishing
competitive success (Singh, Pattnaik, Gaur and Ketencioglu, 2018).
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 Global environment risk: As per current scenario, environment of business is dynamic in
nature that includes various changes that can be put negative impact over the operational
activities of company. At the time of expanding business at global level, company is
responsible for managing all the uncertain aspects and factors so that negative impact can
be easily eliminated. By managing the same, company can improve its overall
performance level at global level.
 Financial risk: While expanding business activities at international market, enough fund
and financial resources are important as it help in successfully operating. Without proper
fund, firm can not be able to improve their performance. Therefore maintaining as well as
managing enough financial resources may assist developing positive image at market
place.
By analysing all these type of risk Airdri can easily operate their business in USA market and
at the same time also capture market share by influencing its customers towards its services.
GROWTH STRATEGY PROPOSAL
Growth strategy is refers to the important action plan that allow business organisation to
accomplish their success by capturing larger market share from specific rivals. Thus, it is
significant for company to effective analyse the market trends and situation with the aim of
developing an appropriate strategy proposal. In this context, Airdri is a small business
organisation that operate their business in London and also wants to expanding their commercial
activities in new market i.e. USA with the hope of generating larger profitability level. At the
time of expansion, company also set their specific goals and objectives that provide direction to
operate in new market. This will provide path or opportunities for capturing customers attention
by serving their best quality of products and services as per their needs and wants. In this
context, as per above mentioned internal and external analysis it is evaluated that company focus
in implementing innovation within their product line so that attention of customers can be easily
grabbed. Along with this, it can be a biggest opportunity for Airdri in expanding their business in
another country i.e. USA. In this serving unique and innovative services to new customers may is
in influencing them towards the company. This can be directly contributing in increasing
profitability level of company at market place. Furthermore, while expanding their business in
new country, Airdri also attain huge customers and advantages in inviting more and more
customers towards its services. This is the reason that operating business in new market may
13

assist in improving the chances of attaining competitive advantage from its competitors. In order
to attain competitive advantage in market place, Airdri use Porter's Generic strategy as an
effective approach that can be determine the direction in which company can improve their
performance and also able to beat their competitors in market. It includes different strategies
applied by company to attaining growth opportunities in wider market place. These strategies can
be understood by following description:
The Cost leadership strategy: It is an effective strategy that used by company to gain
competitive advantage in market place. In this, company produce its quality products at lower
cost in order to capture customers attentions. Along with this, a low cost producer use optimum
resources and at the same time also exploit all the sources that can provide cost advantage to the
business. By providing quality products at low cost may assist in inviting customers in new
market place.
The Differentiation strategy: It is important for company to produce unique and innovative
products to established its famous brand image in new market place. In order to attain
competitive advantage, organisation seeks to be unique within the industry along with some
innovative dimensions that are widely values by its buyers (Tukker and Tischner, 2017). By
delivering innovative products in market place assist in meeting customers needs and also
provide them better satisfaction level. With the assistance of this, company can established its
competitive image at market place.
The focus strategy: This type of strategy is also effective for company in attaining competitive
edge as it focus on choice of narrow competitive scope within the industry. In this company
select a segment within the market place for serving quality products. Mainly, it includes two
variants such as: in cost focus organisation seeks a cost advantage in its specific target market
and on the other side, in differentiations focus company focus in differentiation in target market
segments. With the help of this organisation can meet customers needs by providing them
services as per their actual needs and wants.
As per above mentioned strategies, Airdri use the cost leadership strategy for establishing
a competitive advantage. This is possible by having lowest cost of operations within the industry
(Hertenstein, Sutherland and Anderson, 2017). In this, Airdri could be the lowest cost producer
and also focus on the overall quality. This can be effective in earning higher returns and
competitive benefits by offering products and services at a lowest price. This is related with the
14

internal and external analysis of market because it provides assistance in developing their
business activities at market place.
CONCLUSION
From the above mentioned report it can be concluded that implementing growth
strategies are effective for business in expanding their commercial activities in new market place.
As it also provide a proper direction in which from can improve their positive brand image by
serving best quality of products and services. This can be appropriate in meeting market needs
and demands. Thus, it is important for organisation to effectively analyse the market where they
wants to expand their business. For this various tools and techniques has been applied like
situational analysis, internal or external analysis, competitive analysis, risk analysis and many
more. All these can be assist in improving the possibilities of attainment of competitive edge
from its competitors. At the time of expanding business at new market company is responsible
for analysing the external environment in order to eliminate the negative impact by maximising
the positive impact. With the assistance of this, company can easily improve their performance
and also attain competitive edge from its competitors.
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