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Marketing Plan for New Market Assignment

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Added on  2019-12-04

Marketing Plan for New Market Assignment

   Added on 2019-12-04

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Marketing Plan forNew Market1
Marketing Plan for New Market Assignment_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3COMPARING THE ADAPTATION AND STANDARDISATION STRATEGIES ININTERNATIONAL MARKETING................................................................................................3PRIMARK'S MAIN INTERNAL STRENGTHS AND WEAKNESSES .....................................5PRIMARK'S MAIN EXTERNAL OPPORTUNITIES AND THREATS IN INDIA....................6ENTRY MODE STRATEGIES......................................................................................................8PORTER DIAMOND MODEL.......................................................................................................9VALUE CHAIN ANALYSIS........................................................................................................11STP MODEL ...............................................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142
Marketing Plan for New Market Assignment_2
INTRODUCTIONInternational marketing is the situation where the business directs its products andservices towards consumers in more than one country. However, businesses choose to exploreforeign markets due to varied reasons such as identifying the potential market and attractingconsumers. Also, it has been assessed that there are wide options available with companies now-a-days to expand its operations in the international market and earn high sales and profitability.However, it also involves risk and uncertainties regarding values and cultural belief of firm sothat it affects operations of the company m in market (Samiee, 2013). It is essential for businessto assess all required information about the market conditions and circumstances to determinethe best outcomes. The present study is based upon Primark which is a clothing retailer operatingin Austria, Belgium, France, Germany, Ireland and many more. However, firm is planning toexpand its operations in Indian market through seeing the potential of people living in India andthus targeting such areas to achieve desired results. Through analysing the market of hostcountry i.e. India, it has been assessed that it is a potential nation with regard to sell the productsto consumers and to help in enhancing the sales and profitability. Main reason behind selectingthe host country to introduce the product helps in attracting potential consumers so that settargets can be attained. COMPARING THE ADAPTATION AND STANDARDISATIONSTRATEGIES IN INTERNATIONAL MARKETINGIt can be stated that through considering the market and business perspective, Primark hasbeen selected which offers wide range of clothing products to attract consumers. Here, it isessential to identify an appropriate method for developing their international market andimplementing the tactics within the firm. Thus, in such situation company can chooseappropriate methods such as standardisation and adaption for expanding business in internationalmarket i.e. India. MARKETINGSTRATEGIES STANDARDISATIONADAPTATIONProduct It is a cost effective method as itHowever, such method directs3
Marketing Plan for New Market Assignment_3
helps Primark to create and developstrong brand image among targetedconsumers so that business goals canbe attained (Caroli, Cucculelli andPongelli, 2015). Company heremaintains its design and quality asper international standards andattract potential clients. Primark to customize the productin regard to not affect the valuesand beliefs of Indian people as itis expanding its operations inIndian market (Köhler and et. al.,2015). Therefore, it producesproducts as per the marketdemand and attains customersatisfaction. Environmentalfactors It is essential for the firm to considerdifferent environmental factors sothat working of business can becarried out as per its operations inother countries (Sandberg, 2013).Therefore, it is not essential for theorganization to adopt differentfactors to enter into Indian market. Main aim of this strategy is toaddress different environmentalfactors to define internationalmarketing strategies. Marketing mixHere, it addresses that workingpractices as per the belief thatcreating a single strategy for theinternational market and regulatingthe marketing mix elements similarlyas per the standard strategy helps inproving the business to be beneficialand consistent (Chetty, Ojala andLeppäaho, 2015). It can be assessed that Primark isrequired to identify differentcultural and environmentaldifferences to identify the needsand wants of targeted customers(Kim, Min and Chaiy, 2015). Success criteriaPrimark could achieve long termsuccess through ascertaining needsand wants of customers rather thandistressing for determining likes orHere, Primark management isrequired to alter marketing mixstrategies which help inovercoming the local preferences4
Marketing Plan for New Market Assignment_4

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