Global Marketing- Assignment
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Global Marketing (MKT550)
Added on 2020-05-11
Global Marketing- Assignment
Global Marketing (MKT550)
Added on 2020-05-11
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Running Header: Global Marketing Global Marketing Authors ID:Authors Name:
Global MarketingContentsSummaries of all 3 assignments......................................................................................................31 Summary of assignment 2.........................................................................................................32 Marketing mix...........................................................................................................................33.2.1 Product strategy...............................................................................................................33.2.2 Pricing strategy................................................................................................................43.2.3 Place................................................................................................................................53.2.4 Communication promotional mix...................................................................................73.2.5 People..............................................................................................................................74.0 Economic Evaluation.............................................................................................................84.1 Price reducing strategy...........................................................................................................94.2 Implementation and control...................................................................................................94.3 Monitoring of Action Plan...................................................................................................124.4 Contingency Plans................................................................................................................14Conclusion.....................................................................................................................................15References......................................................................................................................................16
Global MarketingSummaries of all 3 assignmentsThe presented is the summarized report of the assignment two and the same has been madefocused on the situation analysis. This analysis comprises of the identification of the businessenvironment. The next part consists of a detailed analysis of the marketing trends andenvironment. Competitors, their strategies and plans which affect the business are discussed inthe next part and the last segment comprises of the organizational analysis. The mentioned content has been presented and analyzed on the concept of global marketing forAustralian natural foods and dry fruits sector. The report consists of a certain analysis which hasbeen made focused to gain the knowledge in relevance with the market condition of Austria.Moreover, the report comprises of International marketing plan which further comprises ofvarious sections from the purpose of expansion in the Austrian country. The below described is the analysis which has been executed over the marketing mix strategiesof the Select harvest. The marketing mix has been segmented in the various subdivisions. Thesedivisions are further consisting of the varied range of approaches assisting the marketingstrategies. The marketing mix is also followed by the IMC plan which has been executed fordeveloping a professional marketing communication plan for the entity. And at last the reportincludes the evaluation of the economic aspects. 1 Summary of assignment 2 In the limelight of the below presented report it has been concluded that the concept of marketingmix strategies forms an integral part of the core activities associated with the marketing plan andstrategies. The marketing mix has been segmented in the various subdivisions. These divisionsare further consisting of the varied range of approaches assisting the marketing strategies. Themarketing mix is also followed by the IMC plan which has been executed for developing aprofessional marketing communication plan for the entity. And at last the report includes theevaluation of the economic aspects such as the communication plan, monitoring of action planand the last one is the contingency plan. 2 Marketing mixThe approach of marketing mix has been considered as some relevant operations andfunctionalities which are executed by the business corporations so as to promote the product andservices in the target market (Shan & Jolly, 2013). The concept is based on the four pillars andthat are the price, product, place and promotion and the same are considered as the mostsignificant in stimulating the business environment of an entity: 3.2.1 Product strategyPLCProduct lifecycle is the mechanism which can be termed as the product strategy implemented soas to bring up-gradations and enhancements in the product. There are varied segments in thisstrategy which define the product lifecycle (Tukker, 2015). The stages or the levels throughwhich a newly produced product undergoes can be referred as the lifecycle of the product. Thecore levels of this lifecycle are introduction to growth, maturity and decline and changes in these
Global Marketinglevels are observed on the basis of the changing marketing trends. The following are the corecomponents of the product strategy:Branding: Select harvest Ltd need to develop and enhance the brand name of the product andshould try to create a unique identity in the market (Lando, 2014). A rise in the market share willbe observed for the product. Packaging: Outlay and presentation of the product plays an integral role in attracting thecustomer’s attention (Fu, & Jones, 2015).This process comprises of modifying the presentationand outlay of the product in such a manner so that it grabs the most attention and also develops awill to buy the same should be developed in the consumers. Labeling: Presenting the details and all the relevant information about the product in a formattedmanner is called labeling; this will aid the consumer with a description about the product. Quality: This factor has been considered as the main component which aids in offeringsatisfaction to the consumer (De Mooij, 2013). The quality is the key variable on which thepurchase of the product is based. Product mix depth and width: The term depth of product mix can be referred to the numberof varieties which can be served by Select harvest for all of the products whereas, the widthdenotes the various segments or categories of product lines offered by the business corporation. Segments: Segmentation of the products can be considered as the divisions which are developedby the fir for identifying the characteristics of the products and services which resonate with thetargeted segments of the markets (Akaka, Vargo & Lusch, 2013). Augmented services: Physical and non-physical attributes are the primary forms in which theaugmented services are present. The concept enhances the value of the products and services. Growth stage is the level at which the product has been observed, through the executed analysis.
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