Boost Juice: Global Marketing Report

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Global Marketing Report: Boost Juice
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Introduction
In the discipline of international marketing, selecting an international market has become
one of the most difficult decisions for a firm is the decision concerned with market selection.
Firms are faced with questions of uncertainty when it comes to selecting international markets.
Entering international markets is even more problematic. However, in the recent, courtesy of
emerging trends such as globalization, selection, and entry into international markets have been
made relatively simpler. Products thriving in their local markets are no longer limited to their
local markets. This paper attempts to analyze the anticipated endeavors of Boost Juice, after
gaining a successful command in its domestic market in Australia, is expected to flourish in a
foreign Chinese market. The paper seeks to establish Boost Juice’s strengths that would enable
its products to successfully thrive in the Chinese foreign market. The report also identifies some
of the existing international marketing theories that will shape Boost Juice’s decisions, activities,
and practices before entering the Chinese market.
Theories
The foreign nation’s political, social and economic environments are key areas to
consider before a company or an international entrepreneur considers exploiting an international
market (Zahra, Newey and Li, 2014, p. 140). Moreover, firms wishing to enter in international
marketing need to be acquainted with relevant international business strategies to be applied in
these foreign markets. Before re-entering the Chinese market, Boost Juice ought to consider the
following theoretical concepts:

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Hofstede’s Cultural Dimension Theory
This theory is associated with the efforts of Dutch social psychologist, Geert Hofstede. In
the theory, Hofstede hypothesized that societies either score highs or lows in the Power Distance
Indices, Individualism versus Collectivism, Masculinity versus Femininity, Uncertainty
Avoidance Indices, Long term versus Short term Normative Orientation and Indulgence versus
Restraint Indices (Duckers, Frerks and Birkmann, 2015, p. 85). For a business entity, the
consideration of whether its target group is negative, positive or neutral to Hofstede’s dimension
is critical (Kasdan, 2016, p. 467). Companies that seek to open or re-open international-based
branches need to consider how the cultural setting of the foreign culture scores in Hofstede’s
model. This would serve to prepare the company.
Market Segmentation, Targeting and Positioning Theory
The market segmentation, targeting, and positioning theory are constructed upon the idea
that firms need not necessarily provide their commodities to all individuals in a society. The
theory suggests that companies should divide the total market into many homogeneous groups
and provide their commodities according to the needs and preferences of each of these groups
(Bo Liu, et al., 2014, p. 452). The marketing concept of market segmentation, targeting and
positioning theory goes hand in hand with economics’ theory of specialization (Schopfel, Roche
and Hubert, 2015, p 77). The theory suggests that a firm should strategically aim a certain
population so that it provides efficiently and profitably to their customers.
Marketing Mix Theory