Marketing Plan For Entry Into Singapore Assignment

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MARKETING PLAN FOR ENTRY INTO SINGAPORE COUNTRY
MARKETING PLAN FOR ENTRY INTO SINGAPORE COUNTRY
Name
(Affiliation institutions)

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MARKETING PLAN FOR ENTRY INTO SINGAPORE COUNTRY
Introduction
The report purpose is to prepare a marketing plan that analysis and recommends market
entry strategy for Hertfordshire Business School to launch its “Global market solution” program
in Singapore Markets. Wrenn and Mansfield (2014 p.1) described marketing plan as a tool used
to outline how organizations plan and implements marketing strategies and combination of
resources to achieve objectives like customer acquisitions and market targets. Through the
marketing plan, Hertfordshire Business School will achieve its main SMART objectives of
launching “Global market solution” program study program in Singapore by Mid-2020.
Findings and Analysis, Product and Market-related issue
Internal Environment (microenvironment) analysis
Gürel and Tat (2017 p.1) defined SWOT abbreviated from Strengths, Weakness,
Opportunities and Threats analysis as a tool used by organizations to analyze internal
environment of a business. Strengths and weakness provide analysis of internal factors impacting
a business while opportunities and Threats provide external analysis. Resource Capability is the
greatest strength that Hertfordshire Business School possesses. The resource capabilities of the
institution include competitive viability, cost position and competency. In terms of
competencies, the University has qualified staff and a strong brand identity which is built upon
expertise. The University has achieved its financial goals and accomplished the strategic
planning objectives. Hertfordshire Business School also has updated technologies equipment and
systems like online portal and offline support. The institution is also focused on inclusion and
diversity drawing up the program's specialists from all over the world. In terms of competitive
viability, the University has a well-established supply chains and high customer loyalty.
Hertfordshire Business School has several weaknesses. Unmotivated and unfriendly employees

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MARKETING PLAN FOR ENTRY INTO SINGAPORE COUNTRY
and strong brand reputations are the greatest weakness of the company. With unfriendly and
unmotivated staff, the business has experienced drops in number of enrollment in its programs.
Hertfordshire Business School has various opportunities it can utilize to be profitability
and launch its program successfully into the Singapore market. Advancement in Technology is a
great opportunity. With technologies and SEO search engines, the company can market and
connect with potential customers. The changing consumers’ patterns towards education, many
alternative delivering methods such as online programming and partnership with government and
institutions are business opportunities to generate more incomes.
Hertfordshire Business School has various threats such as high levels of competition,
uncertainty state of higher educations, high costs of funding and financing program and
unpredictable macro economies and macro environment. Currently, there are many public and
university in Singapore offering the similar program.
External Environment (Macro environment) analysis
PESTEL abbreviated from Political, Economic, Social, Technological, Ecological and
Legal is a strategic tool used to analyze the external environment of a business.
Political- Singapore has a stable democratic government. The taxation and tariff rates are
attractive for foreign companies and standards of living have improved over the last decade. The
level of government interference is also low.
Economic- Singapore has a highest vibrant free-market economy in Asia (Huang, 2016 p. 247).
The economy is growing very fast with GDP of 3.1% in 2018 (World Bank Group, 2019 p.1). In
the Asian continent, Singapore is among the countries with the highest per-capita income. The
level of corruption is very low. There is cheap skilled and unskilled labour. The economic

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MARKETING PLAN FOR ENTRY INTO SINGAPORE COUNTRY
constraints in Singapore include a decline in productivity, rising labour costs and shortages of
labour.
Social – The literature levels are very high. The population has significantly grown to reach 5.6
million by 2017 (Low et al., 2015 p.1). Singaporeans works hard to fulfill materialism desires.
Researches show that blue colour jobs such as constructions are highly disliked by Singaporeans.
The Government has passed mandatory primary schooling. Parents ensure student attends school
regularly. In addition, Singaporeans also have a Good Command of English.
Technological Factors: There are high rates of technological advancement in Singapore.
Internet use and connectivity are very high with country having 84% equivalent to 4.9 million
out 5.6 of the population using internet (Rocky Fu, 2019 p.1). Currently, Singapore has
established eBC2 models.
Environmental – The country has high rates of pollutions from the transportation and industrial
by-products. Furthermore, the country is ranked among the leading in carbon dioxide emissions.
The country lacks enough water for industrialization. With the country being 30% mangrove
(Friess, Richards and Phang, 2016 p.795), natural calamities like floods and earthquakes have
been highly reported.
Legal- The legislations and regulations in Singapore are transparent. The regulation like
consumer protection Acts and VATs are favourable for foreigner to invest. The process of
changing legislation took long, and the corporate tax is very low at 17% (Delloite, 2019 p.1).
Cultural differences
Singapore is a multi-ethnic society with expatriates at 2%, Malay 15%, Indians 6% and
Chinese 77% (Hofstede, 2019 p.1). Hofstede cultural dimensions are used to evaluate the cultural
differences in Singapore. The six cultural dimensions used in culture analysis include power