International Market Entry Strategies for Miles Ahead Guitars

This report discusses the PESTEL analysis for Miles Ahead Guitars, analyzing the political, economic, social, technological, environmental, and legal factors affecting the company. It also explores the role of an international marketing consultant and the use of Porter's five forces model. Additionally, it examines market entry strategies such as joint venture, licensing, and franchising.

PROJECT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
PESTEL Analysis........................................................................................................................3
Role of international marketing consultant..................................................................................4
TASK 2............................................................................................................................................6
Market entry strategies................................................................................................................6
Task 3.............................................................................................................................................10
Marketing Mix Plan...................................................................................................................10
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
There is a requirement of planning, pricing, promoting, directing and adapting a strategy
to enter the international market. Miles Ahead Guitars’ business is having a unique idea of
folding guitars’ which is going to be very famous in the international market. The report consists
of marketing consulting after analysing the factors affecting the company, strategies for entry of
business in international market and business plan.
TASK 1
PESTEL Analysis
PESTEL analysis is very favourable tool for the different companies and businesses,
because by conducting this tool a company can easily identify major external factors of their
business environment. These external factors will definitely affect Miles Ahead Guitars company
in both developed (United Kingdom) and developing (India) markets. Top-level management of
company has highly required develop some productive strategies towards dealing impact of
different factors (Aithal, 2017). There are PESTEL tool refers six major external factors of
business environment called political, economic, social, technological, environmental and legal
factors. Impact of these all factors on miles ahead guitars has been discussed below;
Political Factors: Political factors highly influence miles ahead guitars in both markets called
United Kingdom and India. Top-level management is responsible to fulfil those all formalities
which has local government has imposed on different businesses in these market. For example;
government within United Kingdom and India has imposed taxation on companies, so miles
ahead guitars also need to fulfil taxation formalities while running their operations in these
markets.
Economic Factors: Economic factors also affect company in these markets. For example; the
United Kingdom has a developed economy, on the other side India has under-developing
economy. The company is able to gain high profit in the UK in comparison of India, because
most people in the UK comes from high income group. That’s why these people can easily
afforest products and services which miles ahead guitars company has offered in the market. On

the other side, company can’t get effective results in Indian market, because most people in this
market are not able to afford products and services of miles ahead guitars.
Social Factors: Social factors are favourable for the company in these both markets, because
most people in the United Kingdom and India always give priority to those brands which
provides quality products and services to customers. In this situation, miles ahead guitars always
provide quality products to customers, so these factors can positively affect company in these
both markets.
Technological Factors: The company is able to take huge advantages from these factors in the
United Kingdom (Mishra and et.al., 2019). Currently lots of latest and modern technological
machineries, gadgets and tools are available in this country which can contribute in miles ahead
guitars to improve its performance in the market. On the other side, company not able to take
huge advantages from technological factors of India, because this country already importing new
technology from other countries.
Legal Factors: Top-level management of miles ahead guitars highly responsible to adhere those
all legal and ethical considerations in their daily operations which local government has imposed
on different businesses in these both markets. The company can build an ethical work culture in
its business environment by following these factors.
Environmental Factors: Environmental factors can highly affect this company for avoiding
such activities in their business environment which can put negative impact on our natural
environment. Existing management is responsible to adhere each rule and regulation which
different environmental protection organisations has passed in these markets to protect natural
environment.
Role of international marketing consultant
Porter’s five forces
This is the analytical tool which helps the business to understand all the factors which
determine completeness in the market which increases the efficiency to attain higher profit
margins to compete in market effectively (Maury, 2018). This model helps Miles ahead Guitar’

company to understand the competition and threats in the market to formulate effective strategies
and reduce all the threats to attain core competency in the market effectively.
 Threat of New Entrants
The threat of new entrants helps to analyse all the new business which has the innovative
potential to outrun Miles ahead Guitar’ company’s innovation and reduce all the market share of
the company negatively. This threat is emerging for the company as the lifestyle of customers is
changing due to increase in level of income the expenditure has raised. The threat of new entrant
is very high for Miles Ahead Guitar which decreases the potential for company to gain higher
profit margins effectively.
 Bargaining power of Buyers
Buyers are the king of market and it is very essential for businesses to satisfy customers to
increase their sales and increase size of the business effectively. The threat of power of
customers is low as Miles ahead Guitar has innovating products which helps business to attract
more customers and increase profit margins (Gibson and Warren, 2016). Competitors are not
having the same products this also provides competitiveness to Miles Ahead Guitar to compete
in market and increase the performance to satisfy their customer effectively.
 Bargaining power of Suppliers
Suppliers are the key component of any business which helps and support businesses to grow
by making low cost products and increasing profit margins. This can increase the power of
suppliers to influence the cost of business. The threat of supplier of Miles ahead Guitar is low as
music industry has large number of suppliers in the market with better offer and high quality
products. This also helps Miles ahead Guitar company to increase the profitability and reduce
this threat effectively. This also helps the company to analyse the competitive advantages of their
products in the new market to increase the opportunity to expand effectively.
 Threat of Substitute Products
Substitute products is one of the major threat of any business due to innovation and this also
reduces the efficiency of Miles ahead Guitar to gain better market share to attract customers and

satisfy them however the company is having low market heart in the market due to high quality
products and innovation of the company in the market. This also helps company to reduce this
threat by targeting on the basic issue of the customers while travelling the guitar.
 Threat of Exiting Competition
Due to increase in the demand of customers the existing potential players have also
increase their research and development activities to survive in the changing market. This can
impact Miles ahead guitar company with better products and low cost innovation. Miles ahead
Guitar is focused on the quality of folding guitars however the threat of exiting completion is
high in the market which can impact the business growth and expansion of company negatively.
TASK 2
Market entry strategies
There are a lot of approaches which can be used by organizations which are going to be
very beneficial for the company to get international. This will help the companies to increase the
economic stability and get a competitive advantage. Miles Ahead Guitars’ have a very unique
idea of a folding guitar which travellers can carry with them and they are not going to be over
sized in airports or be a trouble for the travellers to carry (Wikström and DeFillippi, 2016). This
is going to be a great advantage for Miles Ahead guitars’ to expand themselves because there is
no other competitor who has come up with this idea and the customers will appreciate and
capturing the market would also be easier for the company. Strategies have to be used by
organization so that they can have a better planning for themselves and the objective planning
and the sense of direction in the market of the business will be better. Miles Ahead Guitars’ is a
small business type which is why there have to be better decisions for the company so that they
can get more customers in the company so that there are higher profit margins. There is a lot of
costing which has to be done by the organizations so that they can have a better functioning
which is a very essential factor like transportation, tariff, etc. The different strategies which are
there in the market for international expansion are direct exporting, licensing, franchising, joint
ventures, buying a company, partnering, etc. The report is going to discuss the three major

options which are in front of Miles Ahead Guitars’ as the entry strategy to get into international
market.
 Joint Venture
When there is a pooling of two or more parties together is a joint venture. This is a strategy
which can be used by organizations so that they can have a better functioning and planning for
themselves in the market and to get international which is a great scope. This pooling can be
ended according to business or the contract between the two which can make the company gain
objectives and image in the market by then and then the company can have higher profit margins
for themselves which is going to be a great advantage for the company. There is a sharing of
resources, control, profits and losses involved which the businesses are aware of so that they can
make a place for themselves in the market and also understand the market they want to expand in
(Chaffey and Ellis-Chadwick, 2019). There are a lot of advantages and disadvantages of this
strategy which is going to be discussed in the further report.
Advantages: There are a lot of advantages of a joint venture which are that there are new
insights which come up in the company which can get expertises in the organization. Both the
organizations work together which will make both of them to support each other in risks which
the businesses undertake. There are a lot of ways through which a joint venture can be easily exit
by businesses and there are more chances of the organization to succeed their goals in a joint
venture. There are relationships which can be built in a joint venture and networks as well which
is good for a long term growth of an organization in market. Different cultures can be exchanged
in the organization and learning outcome is going to add more value to the company which can
make the productivity better and the organization will be able to grow faster (SHTAL and et al.,
2018). Disadvantages: There is a loss of flexibility of an organization and there is no such thing
as equal involvement in the decisions which are going to be taken by the companies. There is no
equal base because one company can be good in few fields and the other fields are covered by
other businesses. There is a requirement of a lot of researching and planning which is involved in
joint venture which has to be done so that there is a better functioning and the company does not
have to face a negative influence. There can be a lot of communication gap which can come up
in the company and that can be a lot dangerous for the company to function and the objectives of
the company will not be met from time to time.

 Licensing
License is the legal agreement which is done between two or more business to provide their
authority to use the product and brand name for a short period of time. Licensing is generally
provided on the intellectual property in which one business has its competitiveness in the market
and other take permission to increase their profit margins. Due to change in the market
expectation and increase in demand of customer, innovation of products and services has also
increased which increases the opportunity for business to provide license and earn more profits
effectively. There are many factors helps the business to gain higher market share and increase
the potential to gain higher profit margins and achieve core competency effectively. Innovation
occurs only when business analyses the needs in the market to increase their satisfaction and
establish in market effectively (Gibson and Warren, A., 2018). As it is the intangible assets of the
business it is very essential for business to management all the other hidden factors to increase
the value of company to gain higher return at the time of licensing. There are many factors which
helps the company to increase its size and expand in the market rapidly. Due to globalisation it is
very essential for business to increase its performance in the market to compete and provide
better opportunity to other business to apply for licensing (Myrthianos and et.al., 2020).
Advantages: This increases the opportunity for the small business owners top enter into
international market by taking license from the international business to sell their products in the
particular region effectively. This increases the opportunity for both businesses to gain higher
profit margins and also for licensor to increase the size of business with more effective
expansion model. Licensing also increases the employment in the market and gathers higher
productivity to develop the market opportunity in long term. By providing licensing business
also reduces the cost of market research as the licensee is better aware of the market and also has
better contacts to increase business and profit margins effectively. There are many businesses in
the same market which is competed with license businesses easily. Disadvantages: Licensee
deceases the innovative and decision making authority to expand the business according to their
approach which also impact the business growth negatively (Bashir and Verma, 2017). After the
license period is over the risk for licensor increases as it develops new competition in the market
and also impact their market share of the licensor adversely. If the licensee does any illegal act in
the market which can reduce the efficiency of both the business in the market and adversely

impact brand image of the primarily business which is licensor in the first place. Due to change
in the factors in all the market it is not sure to increase the revenue in all the market and also
decreases the tie to gain royalty for licensor. This also increases the disputes in the business and
reduces the brand value negatively.
 Franchising
In this strategy the ownership is not given to the partners but the partners are given the right
to sell the products under the name of the owner’s brand. This gives a control on the organization
and if followed and understood properly then this can be a very advantageous strategy for the
companies to function internationally as well (Trombley, 2017).
Advantages: This strategy will help the company to get loyal customers in the company and
fame as well which is a great start for the company internationally. The owner of the company
remains one and so does the control on the company remains in the hands of the owner. This is
going to help the businesses to have lesser risk than starting a new business internationally
altogether. There are a lot of organizations which are scared or afraid to launch their products
internationally because they think that they will not be able to expand themselves and the
company will have a loss (May, 2019, July). Disadvantages: The profit of the company will fall
because it will have to be shared and only royalty fee and initial fees will be given to the parent
company. The information of the product will have to be shared and being a unique idea the
company will not be able to have a control on it completely. The customers will not be able to
get in touch with the original company but the partners will take the credit. There is a damaged
reputation of the company because they will not be able to understand the customers directly and
that can be a great loss for the company. The improvement in the product will not be done on
time and that is going to make the company not be able to reach out to the customers and the
products will not be able to satisfy the customers completely. The company is going to be tied to
the suppliers for the products and the network building is not going to be present. Exit businesses
in this case are going to be difficult for organizations and are a complicated measure as well.
Rapid growth of the franchise is there in this business strategy but not the parent company
(Morgan and et al., 2019).
Recommendation

Franchising is the best strategy which Miles Ahead Guitars’ can use so that they can
understand the customers globally and not lose their ownership in the process. It is very
important that the company keeps their ownership with them so that later they can have better
plans for the future and have a better portfolio for themselves. The idea is unique in nature but
the company can not take risks alone therefore it is very important for Miles Ahead Guitar to
have a control on the company. The company will be able to have loyal customers which are
going to be a great advantage for the company and the long growth of the organization in the
international market will be present (Lubis, 2018). It is very important for Miles Apart Guitars’
to understand this strategy properly before they enter this so that they know how to deal with the
other frenzies in the market and no one will be able to take the control from them.
Advertisements will not be so costly and the investment which the company will have to make
will be less which is going to make the company get profits and make a place for their product in
the market. It is very important that the customers know about the product and the company will
be able to have a better functioning for them in the market and the company will be able to have
high profit margins. This will make the company get the revenue they need and the name they
need in the international market that they can stand individually later and make more loyal
customers and revenue for themselves (Sun, 2017).
Task 3
Marketing Mix Plan
Executive summary
This is marketing plan of fictious company which used different marketing strategies for
deep research of international market so that could promote product in wide scale. The marketing
plan encompassed marketing mix analysis to determined strategies and raised goodwill of
company globally.
Aim
“To expand business overseas countries through new innovative products”
Objectives

 To give value to customer by offering expected products.
 To expand business in international market.
 To enhance brand image in global market.
 To increase sales infrastructure of products.
STP Model
Market Segmentation
It is most applicable strategy which helps company to divide potential market into small
segments so that can easy to access different market. It helps to determine right customer for
particular products (Dadzie and et al., 2017). Organization applies market segmentation strategy
on the basis of musician population from general population. Organization classifies market into
different segments such as demographical, geographical, psychographics and behaviours. These
segments are subdivided for example demographic where customers are segmented on the basis
of gender, education and age. Geographic is classified on the basis of country, region, city etc.
psychographic segment is subdivided in order to lifestyle, attitudes, interest and opinion. Thus,
organization segments international market and targets potential market.
Targeting
It is another approach which helps to target specific customer so that easy to meet their
objectives and in return maximizes profit. Organization applies targeting approach to target
specified customer within market. Organization targeted travelling musicians who always wish
to take their guitar while travelling instead of carrying oversized case (Gürel and Tat, 2017).
These type musicians are segmented on the basis of professionals, semi-professionals, hobbyist
and novices type customers. Even they are ready to give high price to get good quality guitars.
Positioning
Positioning strategy can be defined as the sets of activities and procedures which
improves the image of visibility of brands. This strategy supports business to analyse strength
and weakness of business. It helps company to determine brand position in the market and
competitors’ position as well (Ismail and et al., 2018). Organization uses positioning approach to

determine brand position. The new innovation in guitars for travelling musician is new concept
which helps company to expand its business in global market.
PEST Analysis
Political factors: Employment and political stability are political factors which can helps
company to improve demand of products. For example, UK’s government recruits job vacancies
for people who doesn’t have job so that can redeem their lifestyle. Where organization can get
positive impact, they can recruit large number of employees for supplier profile and others. Thus,
company can lead high turnover of employee within workplace that automatically raises selling
scale.
Economical factors: Exchange rate of currency, tax rate etc. are economical factor which can
lead negative impact on organization. For example, Miles Ahead Guitar company has aim to
expand it’s business globally by promoting new innovative products. So, it can possible
organization have to change in their policies but organization can get positive impact on their
business activities. Recently UK’s government announced to decrease interest rate from 18% to
19% onwards. So, company can lead high productivity of products by paying less interest rate
that leads financial benefits within company (Kraak and et al., 2017).
Socio-cultural factors: Organization can get positive impact of the factor because it offers
custom made folding guitars which are quite innovative things for customer. Even travelling
musician always expect to carry guitar while travelling instead of taking oversized case. Where
company offers its guitar folds to customer where they can restore their guitar in supplied case.
By the products gets high profitability within business.
Technological factors: Emerging new technology can give positive impact on organization
because they can offer online product delivery services to customer. So, organization must offer
own software app to customer where they can choose product according to their choice. Thus,
new technology can help company to take competitive advantage.
SWOT Analysis
Strength: Miles Ahead Guitars is a fictious company which has high brand image in the market
which is major strength of the company. In addition, Organization offers custom-made folding

guitars to customer which is another strength of company. They offer supplied case as well for
storing guitars while travelling. Guitar case size is 60x30x15 so it is easy to carry in travelling.
Weakness: Shortage of potential employees within company so, it can give impact on business
operations. Requires high investment in R&D department to keep customer excited from the
company’s product.
Opportunity: Due to custom-made products gets opportunity to expand business overseas
countries. So, company can give high quality in product and it’s services which can raise
goodwill of company and leads competitive advantage in the business market.
Threats: Brexit can give negative impact on business growth. Lack of funding resources can
create challenge in company because when they fund then can reinvest in R&D to get high
quality design in custom-made guitars.
Budget
The marketing plan formulates estimates 5000 euro.
Monitoring and Evaluation
360 feedback strategy uses to evaluate effectiveness of overall strategies which are used
to prepare marketing plan. To gather feedbacks from employees about strategies. Customer also
is there who are the main stakeholder of company, gathers feedback about employs service while
offering products at workplace. on the basis of feedback evaluates its merits and demerits on the
business profile (Lohne and et al., 2017). Performance management system is also another
strategy which can support to improve employee’s performance well form within company.
Selling score sheet also helps to analyse selling infrastructure. To monitor overall strategies
applies cross checking strategies which support to keep control on overall business operation.
Marketing analysis
Marketing Mix

It is strategic marketing tool which supports company to influence brand image in the
business market. It is 7P’s model which includes price, place, promotion, product etc. To
differentiate its brand and product uses marketing mix strategy which is described below:
Product: Organization offers custom-made guitars “Miles Ahead Guitars” which is highly
innovative product strategy. In addition, organization offers supplied case which can be
measured 60x30x15cm which is convincible for travelling musician who expects to take their
guitar while travelling instead of carrying an oversized case (Wuand Li, 2018). This guitar folds
can store into supplied case while shipping or travelling. So, it is innovative products which
fulfil musician’s objective and in return gets double profit on products.
Price: The price of products is not too high. It is affordable which improves customer purchasing
behaviours. Currently organization have sales of €1.2m per annum which is quite high. It
interprets that products have optimum price. Company uses competitive pricing strategy so that
can retain customer with company prolong time and can put pressure on competitors. This
strategy helps company to enhance selling infrastructure and gains competitive advantage from
the competitor. Penetrating pricing is another strategy which helps company to create foundation
of brand so that each type customer easy to afford product.
Place: Organization uses distribution strategy to sell its products globally. By the strategy easy
to access different customer in minimum time. The strategy is not supported to distributes
products in local market and attracts customers but also distributes international market.
Promotion: Organization uses multiple marketing tools such as traditional marketing and digital
marketing. Traditional marketing tool applies by company in which includes advertisement on
television and radio. It is effective technique that supports business to access large number of
public or customers. Even digital marketing tool is also followed by organization which includes
online and social media for commercialization purpose (Phadermrod, Crowder and Wills, 2019).
By the media organization easy to cover new customer across countries. The digital channel
media is quite cheaper rather than other offline media because it directly publishes by internet
through without spending extra money. In addition, organization uses social media platform such
as Twitter, Facebook and YouTube to improve brand awareness in public for products. Digital
marketing leads positive impact in selling infrastructure because they easy to retail high quality

guitar to customer. Apparently, organization offer custom-made products which influences
demand f customer for product in global market. thus, digital marketing and traditional
marketing helps company to expand its products across the country.
People: Fictious company is focused on people so that easy to understand their needs and
expectation for products and services. This product leads effectiveness in brand profile because
easy to give values to their customer by offering highly innovative products along with supplied
case. Even company focus on the staff wellbeing, so they organize skills and development class
which helps employees to learn new tactic and improves their skills.
Physical evidence: Company designs guitar feature well form so that easy to attract customer.
Even they allow customer to give their design for guitar which leads happiness and enhance
values of customer. By the custom-made product strategy easy to build trust on band of customer
and generates high profitability with company. Guitar case is also offered by company which
supports musician to carry low weightage in travels.
Process: Organization keeps good designer who can help company to meet customer
requirement for the products. They use various procedure to manufacture custom-made guitars.
For example initially, customer provides their design on company website then designer gives
feature for the manufacturing, suppliers takes product from manufacturing department, receives
by suppliers to wholesaler, delivers to retailers by wholesaler and last receives by consumers. It
is long process but supports to generate profit margin on products on basis of retailer selling.
Key performance indicators
Organization uses key performance indicator to analyse profit of marketing plan on
financial performance. there are several indicators i.e. revenue per client, average class
attendance, client retention rate and profit margin etc. which helps to evaluate success of an
company.
Revenue per client: It is helping indicator which measures productivity of product on the
workplace. currently organization have sales £ 1.2m per annum which shows revenue of per
client is quite good. Organization gets high profit while selling custom-made products
(Pogorelova and et al., 2016).

Client retention rate: Organization measures customer retention on the basis of repeated selling
records. Even they capture those customers as well who always buy products from online media.
Based on the client retention rate analyse that organization has achieved second objective of the
company. They want to improve selling scale of company which can increase by customer
retention as result can easy to access second defined objective through indicators.
Ethical behaviour and Global citizenship
Ethical behaviour can be defined as the application of moral principles to comply with
situation. In other word, behave is basically dependent on the moral standards which are set by
the society. Organization uses digital and traditional marketing tool to sell it’s products where
company keeps transparency while distributing it’s products to customer. For example, company
keeps flexible policies to comply different countries rule and regulation. In addition, company
offers high standard quality products and gives those products which they require. It builds trust
of customer on the brand (Pomering, 2017). 360 feedback strategy support company to give
value to their customer by gathering feedback about products and its services. It is not giving
value to customer but also helps to improve products quality and delivery services as well.
Global citizenship refers as the process of recognising interconnectedness of worldwide
in respect of culture diversity, human rights. Organization act as global citizenship so they focus
on customer desire instead of needs. Organization uses custom-made product strategy which is
quite new for customer and for competitors as well. STP model strategy helps company to access
customer globally so that can meet global customer objectives rather than individual.
Organization uses digital marketing strategy to influence product awareness in the global market
so that customer can improve their quality of life by using good quality products either customer
are local or global. Company analyse global public in which 46% are musician who expects to
take their guitar in travelling but without carrying oversized guitar case in travels (Sulaimanand
Syahrivar, 2018). Company leads innovative solution of this issue by the help of their experts.
They offer custom-made guitars which can fold and offer supplied case as well to store their
guitar. Due to the products gets high sale revenue within company. Even organization easy to
expand its business in global market as well.

CONCLUSION
From the above report it can be concluded that there is a need for businesses to find the
right strategy for their organizations to expand themselves internationally. It is very important to
spread internationally because that can make the company have a better reputation for
themselves in the market and have high profit margins. The loyalty of the customers also
increases with time and the company will be able to grow faster and achieve their objectives.

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