Strategic Marketing Process - PDF
Added on 2021-02-21
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STRATEGICMARKETING
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................1ORGANISATIONAL OVERVIEW................................................................................................2Company Overview....................................................................................................................2Product Overview........................................................................................................................2ENVIRONMENTAL ANALYSIS..................................................................................................2PESTLE Analysis........................................................................................................................2MARKET ENTRY OPTIONS........................................................................................................6Franchising..................................................................................................................................7Licensing.....................................................................................................................................7Strategic Alliance........................................................................................................................8MARKET SEGMENTATION........................................................................................................8Segmentation...............................................................................................................................8Targeting.....................................................................................................................................9Positioning...................................................................................................................................9PORTER'S GENERIC STRATEGIES............................................................................................9Cost Leadership...........................................................................................................................9Differentiation...........................................................................................................................10Focus.........................................................................................................................................10Critical Evaluation....................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
EXECUTIVE SUMMARYStrategic marketing is a way through which organisations determine a pathway to gaineffective competitive advantage in the market. For this purpose, Lynk & Co. is being chosenwhich is a Chinese manufacturer aiming at entering the UK market with its new offering,Roadster X.The report required an effective environmental analysis for which, PESTLE Analysis wasused which provides a framework to assess external factors of business environment.Another agenda of the report was related to determine entry modes essential for the firmto enter the UK market. For this purpose, Licensing, Franchising and Strategic Alliance wereassessed effectively.The report also required to determine the target market to attain which, STP approachwas used to derive segments and target effective potential customers.Lastly, the report needed strategies for the firm to enhance its competitive advantage. Toattain this, Porter's Generic Strategies were used which were Cost Leadership, Focus andDifferentiation strategies.INTRODUCTIONStrategic Marketing is an effective process through which organisations tend to plan,develop as well as implement several activities which helps an organisation in effectivelygaining a competitive edge in the market. Furthermore, it provides a company an effectivepathway through which the firm could effectively enhance their business operations and enhancetheir capabilities in achieving their business objectives (Lee and et. al. 2013). The report below isbased on Lynk & Co., which is a Chinese Car Manufacturing organisation, which is currentlyaiming at entering the UK market with new innovative services in its vehicles. It covers adetailed analysis of the external environment of the UK which would be having an impact on thecompany. Further, the report includes critical analysis of three market entry-modes which couldbe effective for the firm to enter the UK market. It also covers segmentation of market as well asgeneric strategies for the firm to gain a competitive advantage.1
ORGANISATIONAL OVERVIEWCompany OverviewLynk & Co is an automotive organisation which was found in 2016 and is owned byZhejiang Geely Holding Group. The firm offers new age vehicles, specially designed for asustainable performance and the firm stresses effectively on making its products in atechnologically advanced manner. Furthermore, the organisation makes products which are lowon pricing and ensure maximum comfort to customers. Currently, the firm is planning to bring anew product within the UK market to capture an effective market share (Najev Čačija, 2013).Product OverviewLynk & Co would be manufacturing a new vehicle, by the name of “Roadster X”, whichwould be a technologically advanced SUV incorporated with high end digital and comforttechnologies. However, the firm would be introducing new and innovative features with thisvehicles for its customers within the UK. The first innovative feature which Roadster X would beincorporating is Vehicle-To-Vehicle Communication. This feature would enhance the safety ofpassengers within the car. Any spontaneous changes in speed or direction of other vehicleswould be sensed by the Autonomous infrastructure of the car and it would accordingly assist thedriver to act accordingly. Moreover, Artificial Intelligence is also utilised in its design to make itfully autonomous, which would enable the car to have a 360- degree environmental analysisusing an array of sensors, making it fully capable for Driverless movements (Proctor, T., 2014).ENVIRONMENTAL ANALYSISPESTLE AnalysisIt is very important for Lynk & Co to analyse the macro environment of the UK, in orderto analyse the prominent factors within the external environment which could possibly have animpact on the company. The reason for the same is that it would allow the organisation toanalyse effective opportunities for the organisation which is present within the externalenvironment of the country. For this, PESTLE Analysis is used, which is an effective frameworkfor the organisation in determining external pointers influencing its operations and strategieswithin the UK (Kellezi, 2014). This analysis is briefly performed below:External factorsOpportunitiesThreatsSolutions2
PoliticalThese factors are theones which are relatedtogovernmentregulationsandpolitical frameworkwhich could have amajor impact on thecompany and its newproduct within the newmarket (Tirunillai andTellis, 2014). Incontext with the UK,currently, the wholecountry'spoliticalscenario has taken adrastic shift after theBrexit referendum in2016. It had a majorimpact on the politicalties of UK with othercountries. After itsseparation from theEuropean Union (EU),the country is quiteindependent in terms offormulating its own tieswith other nations.With respect to China,UK has had effectiveties with the countrylately. Moreover, afterHowever, currentlywithin the UK, thepolitical regulationsprevailing withinthe country are notcertain and thecountryisexperiencing a lotofpoliticaluncertainty. Thiscould be a threat forthe company.However, to effectivelyenhance opportunities,the firm could keep itsinternal policies flexiblefor time being and inaccordance with thechanging policies.3
Brexit, a wider scopecame into existence theUK would be formingits own trade deals withChina. Moreover, aJoint Trade andInvestment Reviewwas formulated, whichis different from that ofgeneraltradeagreements and underwhich, various dealswere signed worth £9Billion (Brexit :What’s Next for theChina-UKRelationship?, 2019). EconomicalThese factors are basedupon the economicperformance of anation. All the factorsassociated with theeconomy such asinflation rate, FDI,interest rate, etc., arecovered within thesefactors. It is veryimportant for Lynk &Co to effectivelyanalyse these factorswhich would allow theHowever, with theimpact of Brexit,inflation rate hasincreased by asubstantial rate.Moreover, with theimpact of Brexit,the nation alsoexperiencedadownfall in thevaluation of Pound,as a result to which,it could be astruggle for the firmHowever, to convert thesame as its opportunity,the firm must usediscount pricing tocreate a wider customerbase within the UK.4
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