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Marketing Strategies of Bjorn Borg (BB) : Report

   

Added on  2020-01-21

16 Pages4100 Words143 Views
MARKETING

Table of ContentsINTRODUCTION...........................................................................................................................1MARKETING PLAN OF BB..........................................................................................................11) Comparative analysis of the adaptation and standardisation strategies in internationalmarketing.....................................................................................................................................12) Analysing BB's internal strength and weaknesses in Indian international market.................33) Analysing BB's external opportunities and threats in Indian market......................................44) BB's competitor analysis in Indian market.............................................................................65) Effectively implementing an appropriate target and positioning strategy..............................86) Critical analysis of entry mode strategies...............................................................................87) Implementing an appropriate international marketing mix strategy for BB...........................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONMarketing can be described as a source of communication between the organisation andthe target consumer. It provides the company with a big platform to promote and launch itsproduct in an effective and impressive way in the hyper competitive corporate environment. Intoday's era of globalisation and tough competition, it has become a growing and mandatoryphenomenon to apply exotic marketing strategies in order to maintain winning edge in the globalbusiness scenario (Churchill and Iacobucci, 2010). It helps the business unit to gain the highestlevel of customers satisfaction thereby beating the line of its core competitors in a significantway. With this context, the present report highlights the crucial aspects of marketing strategiesadopted by Bjorn Borg (BB) to enter into new international market, India. The report deals withcreating an appropriate marketing plan for BB which will help the company to successfullyestablish its brand in Indian market. MARKETING PLAN OF BB1) Comparative analysis of the adaptation and standardisation strategies in internationalmarketingIt is important for every business organisation to develop effective marketing strategies inorder to enter into new international economy. With this regard, the company lay their significantconcern over applying either the adaptation strategy or the standardisation strategy to gaincompetitive image in the new frontier. Adaptation strategy simply reflects the vital aspect ofanalysing the essential needs and demands of its core customers in the new economy andthereafter manufacturing products which helps the company to gain the highest level of customersatisfaction, trust and loyalty in a significant way (Zeithaml, Bitner and Gremler, 2010).However, standardisation strategy emphasises on producing premium and high class products forstandard customers. By applying such strategy the organisation tries to build a strong and classybrand recognition in the eyes of its audience and focuses on creating a monopolistic market shareby developing innovative products in an exclusive way.With regard to the present case scenario, BB drives its major concern over entering toIndian market because of the tactical adaptation of its harmonic culture, competitiveenvironment, immense scope of market development and high level of integration in contextwith international standardisation and adaptation. Global brands usually finds it easy to make1

their step into Indian market through e-commerce. Top leading foreign fashion brands areentering into the Indian market segment by developing their significant presence in the electronicand online market segments (Jobber and Ellis-Chadwick, 2012). Leading Indian online retailer,Amazon has tied up its knot with BB in order to provide it with an exotic platform to sell itsproducts and gain immense market share in an exotic way. With this context, the concernedcompany significantly focuses on adopting effective marketing and strategic measures whichbenefits it to enter into Indian market in a successful way. In lieu of this fact, it emphasises oneither building a standardised strategy to gain strong brand image in the eyes of its target marketor maintaining adaptation strategy by producing customer oriented products to gain the highestlevel of satisfaction from its core customers. The recent study on BB reveals the fact that the crucial reason of this UK company toenter into Indian market is to gain global exposure. The company focuses to market its productson a global basis thereby producing the products which satisfies the demands of its localcustomers. Even if international standardisation and global adaptation tactics brings essentialbenefits to the company, the decisions taken on tactical behaviour is not divided into completecustomization and standardisation. Therefore, there exist a matter of concern over these twoseparate positions (Hair Jr and Lukas, 2014). The mention diagram clearly illustrates the reason as to why BB adapt and standardize itsvital elements of marketing mix in the new international frontier. 2

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