International Marketing Strategy Analysis
Added on 2020-06-06
16 Pages4155 Words61 Views
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Strategy and GlobalCompetitiveEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................21 A) Identifying current strategic position and the constituent element of Marketing Plan ofVirgin media...........................................................................................................................21B) Selecting and applying various strategic and marketing framework in order to determinethe attractiveness of industry and distinctiveness of Virgin Media........................................4TASK 2 ...........................................................................................................................................82. Evaluation of Different possible strategies.......................................................................103. Recommendation..............................................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONEntering into global environment can be beneficial as well as risky for organisation. Asvarious element in global environment may have positive or negative impact on businessactivities. Competition is being faced by organisation in order to achieve growth. Globalenvironment has great influence on business operation, growth and profitability. In presentscenario the global competent environment requires company not only compete forentering into new market but for achieving economies of scale. Strategies provideassistance to firm in making various plans to face competition in global environment. Theorganisation is required to increase its efficiency and strength in order to sustain theirbusiness in competitive environment. It is essential for enterprise to adopt effective andsuitable strategies in order to achieve competitive advantage. Business entity can adoptglobal strategies. The purpose behind implementing global strategy is to exploit worldinnovation. Lack of flexibility and efficiency has unable Virgin Media to provide responseto domestic competition. Organisation like Virgin Media has adopted multi domesticstrategy in order to become responsive towards local competition. International strategyhas been formulated by Virgin Media to have control on various activities (Caganova,Cambal and Weidlichova Luptakova, 2015.)The report will have focus on identifying suitable business and marketing strategies atcorporate as well as business level on the basis of internal and external analysis of VirginMedia. The purpose of the project is to develop critical knowledge about various aspects ofmarketing and strategy. Assignment will include justification about the selected strategy .Itwill also haver emphasize on determining alternative strategy for Virgin media company.These strategies will help organisation in gaining competitive advantage and sustainingtheir business in international environment. This will assist firm in identifying, exploringand capturing various opportunities in global market. It will aid business entity inminimising the impact of various global macro environment factors on their business(Caiazza and Audretsch, 2015)1
TASK 11 A) Identifying current strategic position and the constituent element of Marketing Plan ofVirgin mediaVirgin media present strategies has focus on delivering line up features of smart phonesat mid range of prices to customers. Company offers consumer a plan package that includesexclusive member access and deal with the hottest brand this has allowed Virgin medial toattract more number of consumers. There are varieties of packages has been offered byorganisation ranging from silver, gold to platinum. It has been identified from various analysisthat the Virgin media has adopted innovative strategy in order to attract customer. These planshave assisted firm in increasing their market share and enhancing their brand image. It has beenanalysed from the external analysis that Virgin media is the part of monopoly industry it hasopportunity to increase their profit margin by raising price of their products and services. Itsfocus on customer satisfaction has enabled organisation to increase its market share. It has beenevaluated from internal and external analysis that marketing strategy adopted by company isvery effective it has provided enterprise an opportunity to foster market growth. From externalanalysis of the firm it has been examined that Virgin media is very high competitive strength asit consist of several sub division of media department. It has been ranked among top 500 largestorganisation in UK (Cavusgil and Knight, 2015.)It has been identified from analysis that several external environmental factor has greateffect on Virgin media. From among all external environmental factors, social element has greatinfluence on various decision and strategies of firm. Social factors that includes values, belief,trends etc. is very difficult for marketing manager to consider. These constituent have greatimpact on all elements of marketing mix such as product, price, place, promotion and physicalevidence. Targeting marketing enables organisation to have focus on specific market. Thisapproach is effective as it allows firm to reach potential customer. It helps business unit ingenerating revenue and increasing profitability. It has been analysed from external analysisinflation has great impact on the growth and success of Virgin media. Due to inflation it hasbecome essential for organisation to increase its prices of product and services this has greatimpact on the consumer. The company has adopted the strategy to fulfil its corporate socialresponsibility this has allowed business entity an opportunity to enhance its brand image and2
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