International Marketing: Sodashi's Market Entry Strategy for Singapore

international marketing Assignment 3

Table of Contents
Introduction.................................................................................................................................................2
Objectives................................................................................................................................................2
Market environment....................................................................................................................................2
Competitor analysis.....................................................................................................................................4
Market readiness..........................................................................................................................................5
Modes of entry............................................................................................................................................5
Segmentation, Targeting, Positioning, and Differentiation..........................................................................6
Segmentation...........................................................................................................................................6
Targeting.................................................................................................................................................6
Positioning...............................................................................................................................................7
Differentiation.........................................................................................................................................7
Marketing Strategy......................................................................................................................................8
Product strategy.......................................................................................................................................8
Price strategy...........................................................................................................................................8
Promotion strategy...................................................................................................................................9
Distribution strategy................................................................................................................................9
Conclusion.................................................................................................................................................10
References.................................................................................................................................................11
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Introduction
International marketing is the process of applying the marketing principles in the international
market for the expansion of the business (Bai, and Chang, 2015). To better understand the
process the organization Sodashi is being selected. The organization is the skincare brand of
Australia and they are developing the international market for Singapore. The firm is making
various types of the skin care products as per the need and demands of the consumers. The major
products are Balancing face mist, Clay cleanser with Lavender and they also offer Samadara.
The market share of Sodashi reveals that the products are being use in 20 countries and by 52
world’s most luxury spas (Professional Beauty, 2009). The firm is trying to achieve the trust and
is trying to expand globally in rest of the countries so that products can reach a large number of
the customers. Development of the brand image is one of the priority of the firm and they are
engaged in deliver superior quality of the products to the customers as per their satisfaction level.
The paper will provide the view of the marketing environment along with the competitor analysis
of the firm. The paper also provides the view on the STPD of the firm in the market of Singapore
along with the marketing strategies. Also, it will highlight the operating advantages that the
company has by executing its business across different countries.
Objectives
The objectives are:
 To increase the market share by 33% at the end of 12 months
 To increase the customer base by 5.1 million or more
 To achieve the trust and loyalty of the customers by developing the brand image
 To deliver superior quality of products to the customers
 To understand the market entry mode of the firm in the international market
 To understand the process of segmentation along with the targeting and the position of
the firm in the market
 To evaluate the marketing strategies for the firm for the betterment of the products
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Market environment
PESTLE Analysis
Political factor: The country is having a low political risk and for that the country provides the
suitable transformation to improve the business opportunities (De Mooij, 2015). The country
allows the foreign market as well as their local market to grow and expand their business. These
political factors will help Sodashi to enter the market of Singapore with their product to expand
the business in the international market.
Economic factor: The economic condition of the country is the vibrant free-market economy. In
the ASEAN countries, per capita income of Singapore is the highest and they are developing
rapidly in the world market. It is the corruption-free environment that eventually supports the
business sector to develop. The GDP of Singapore grew by 4.3 percent in the first quarter of
2018 as evaluated on 13th April 2018. The fertility rate of the country is 1.24 and the populations
as evaluated in 2018 is 5,791,901 which provides desired platform for Sodashi to execute all its
respective business processes (Mti.gov.sg, 2018). The country is also having the cheaper labor
cost which allows Sodashi to expand their business in Singapore with greater opportunities
(Tradingeconomics.com, 2018).
Social factor: The social factor of the country is like all the other eastern countries and they also
follow the traditional family value. The literacy rate of the country is high which allow them to
develop effective awareness regarding the development of the country (De Villa, Rajwani, and
Lawton, 2015). They have effective command in English as well as Chinese which help them to
attract international trade. All these factors of a social environment in the country allow the
organization to establish their business in Singapore.
Technological factor: The country is having the most advanced use of technology in their
various field and this is the primary reason for the change in lifestyle and activity (Hoffman,
Munemo, and Watson, 2016). The Internet is the most efficient part of the country that helps to
develop effective communication among the organizations within the country. Sodashi with the
help of technology and other internet advancement have the suitable ability to capture the
customers of Singapore (Facebook.com, 2018).
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