Strategic Marketing - Romanian Market
14 Pages4473 Words323 Views
Added on 2020-12-29
Strategic Marketing - Romanian Market
Added on 2020-12-29
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Strategic Marketing
EXECUTIVE SUMMARYExpansion is the latest trend in the business environment. The Romanian market is full ofbusiness opportunities and possess a significant potential for growth. This report focuses onHopeTech and its strategies and approaches undertaken to venturing in the market of Romania.The bicycle spare part manufacturer is developing its own cycle which is to be offeredspecifically in the latest market. The purpose of developing this report is to consider viability ofventuring in the market of Romania through consideration of the external environment factorssuch as political stability, economic circumstances and technological advancements. The stablepolitical environment along with growth rate of 8.8% are one of the tempting featuresencouraging to expand operations in the Romanian market. The merger of operations ofHopeTech with Pegas will be able to serve markets in an improved manner and definitely resultsin achieving higher profits. Large section of the people are employed with mega organisation andpossess decent disposable income to avail the latest developed offerings of the company in theform of Hybrid bikes. The selection of niche market of office going population will be beneficialfor enterprise when accompanied with right marketing strategy and definitely result in higherprofitability and market share for organisation.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1PESTLE Analysis........................................................................................................................1Market Entry Modes...................................................................................................................3Market Segmentation..................................................................................................................5Porter's generic strategy..............................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONStrategic Marketing is defined as an approach through which a business differentiates itsproducts and services from its competitors (Proctor, 2014). The organisation in this contextattempt to make ideal use of its strengths to ensure that better value is being offered toconsumers which ultimately results in availing improved economic outcomes. This assignmentfocuses on HopeTech, it is an organisation which is known to be a paramount engineer andmanufacturer of bicycle parts. This organisation is planning to venture in the market of Romaniawith its latest advance hybrid cycles which can be utilise by the masses. The reason for whichRomania has been chosen as a next business destination is mainly due to growth rate in thecountry along with their preferences for technology. This report will be carrying out an externalmarket analysis through undertaking PESTEL in order to identify major opportunities for growthand expansion can be determined. MAIN BODYPESTLE AnalysisIt is referred to a macro environmental framework which is been employed byorganisations to ascertain impact of external environmental factors (Makos, 2015). It is verycrucial for HopeTech to undertake this framework as it will be helpful in identifyingopportunities and threats which lies in the targeted market ascertained through appropriatescanning of business environment of Romania. A brief description of the crucial element ofPESTLE analysis are as follows: Political Factors: The political factors emphasize upon the stability, tax policy andrestrictions which are formulated by the government (Banfield, 2017). The consideration in thissegment is provided to the action of government and political condition on the chosen locationfor business.ThreatIt can be said that there is a lack of political stability in the country as people has beenseen protesting against the government due to weak anti-corruption investigations (Romania:The Limits of Corruption, 2017). Therefore, it can be said that it is a major threat which is to beconsidered by the organisation before venturing into Romanian market. Recently adoptedpresidential system have been emerged which can counter existing threat of the company. Opportunity1
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