International Marketing Report: Aquascutum's Global Expansion Plan

This report provides a comprehensive analysis of Aquascutum's international marketing strategy, focusing on its expansion into the Singapore market. It begins with an introduction to international marketing and the company's background, followed by an examination of how Aquascutum's products and services have evolved with globalization and the current global trends impacting the fashion industry, particularly in the next five years. The report then delves into international market research conducted to identify opportunities for Aquascutum's products, specifically color-changing clothing, in the Singapore market. It also analyzes existing consumer behavior toward competitive products in Singapore, highlighting the opportunities for Aquascutum's innovative offerings. Finally, the report develops a suitable marketing strategy, including social media marketing and promotional offers, to exploit the identified market opportunities and achieve competitive advantage in the Singapore market. The report concludes with a summary of findings and recommendations for Aquascutum's successful entry into the Singapore market.

International
marketing
management
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Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Explain how selected product/service has evolved with globalisation since it was introduced to the
local market, and identify and explain the current global trends that may affect selected product/service
in the next 5 years....................................................................................................................................3
Carry out international market research to show the window of opportunity towards the product in the
proposed international market.................................................................................................................5
Identify the existing consumer behavior towards the competitive products in the proposed international
market and demonstrate the window of opportunity for the planned product/service..............................6
Based on your findings from develop the most suitable marketing strategy to exploit the identified
opportunity..............................................................................................................................................7
CONCLUSION...........................................................................................................................................7
REFRENCES..............................................................................................................................................9
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INTRODUCTION
International marketing is considered as application of marketing principles of marketing
which is used to satisfy need, demand and expectation of different people residing across the
national boundaries or border. It is generally considered as marketing practices or activities
which are conducted by a company in more than one nation for growing their business
operations and functions effectively (Arslan and et. al., 2020). There are different forms through
which international marketing can be done such as import and export, licensing, franchising and
so on. Respective report is based on the Aquascutum which is operating in fashion industry; it is
founded in 1851 by John Emary. Its head office is located in London, England, United Kingdom
as well as they offer menswear, women wear and accessories. Topics include in report are
evaluation of current market trends which impact on company, analysis of international market
research and customer behavior in competitive market. Moreover, it will also include marketing
strategy based on the findings or result.
MAIN BODY
Explain how selected product/service has evolved with globalisation since it was introduced to
the local market, and identify and explain the current global trends that may affect selected
product/service in the next 5 years.
Every company want to conduct their business at the international or global level so that
they can earn more and more profit and market shares through huge numbers of audiences.
Through this market value of company also get enhanced as well as that will also help in gaining
competitive advantages (Farrell, 2020). In respect of the Aquascutum they are operating their
business in fashion industry whose trends get change on regular basis and it is essential for
companies to conduct change accordingly so that they can sustain in marketplace in effective
manner. Respective company offer wide range of men and women wears as well as they also
offer accessories so that they individual can complete its outfit properly. The Aquascutum is well
known their cloths design as well as innovations like they introduce refined rainwear after two
years of opening as well as they also design and offer several clothing products to the army. Due
to such innovations and effective practices respective company able to attract wide numbers of
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audiences which help them in attaining their desire goal. The Aquascutum is offering their
products at the various nations through online medium but now they are planning to expand their
business in the new nation i.e. Singapore. For which they are analyzing current trends which
impact on their products and services, from that some main current trends which impact on their
business in upcoming five years are given below:-
 Be on high alert – According to this it is essential for fashion industries companies to
always be on high alert so that they can promote their products and services in effective
manner. It is so because that will help in attracting more and more customers towards the
products around the world (Gölgeci and Kuivalainen, 2020). In respect of The
Aquascutum they are operating in UK and US market as well as they cover other nations
through online medium. So in order to be effective then competitors at the global market
they need to adopt promotional activities so that they always are on high alerts by
attracting more customers.
 Next generation social – For a fashion players it is essential to always be creative and
innovation and not stick on traditional engagement model because that will help them in
attracting more and more customers towards their products (The fashion industry in 2020:
Ten top theme from The State of Fashion, 2020). Similarly, it is essential for The
Aquascutum to adopt new as well as innovative social channels while expanding and
conducting their business globally. It will also impact them in next five years as that will
help in increasing sales, customer’s base and profitability ratio.
 Material revolution – It is essential for the fashion companies to conduct proper research
and development so that they can come up with new ideas like rediscover, reengineering
old fabric and many more. This is so because it will help in attracting more and more
customers or audiences at the potential marketplace. In respect of The Aquascutum it is
necessary for them that they come up with new idea like new fabric such as one size cloth
fabric or color changing fabric. It is so because respective company offers costly cloths
so by these types of features them able to attract more peoples (Kotabe and Helsen,
2020). This will also help them in sustain in global market for long time by attracting
more and more customers.
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By analyzing above points it can be determined that The Aquascutum must come up with
new products like color changing cloths in the marketplace of Singapore. It is so because it will
help them in attracting more and more customers towards this product which also help in
increasing profit ratio as well as market shares.
Carry out international market research to show the window of opportunity towards the product
in the proposed international market.
International marketing research is considered as orderly structure, collection, recording,
examination, translation, and revealing or reporting of information relevant to a specific
advertising choice confronting an organization working globally (Laksono and et. al., 2020). In
respect of The Aquascutum they are coming with color changing cloths in Singapore market for
which they conduct international market research in order to determine opportunities through
product at international marketplace. In order to determine this respective company needs to
conduct analysis and for that they can adopt process of market research, explanation of process is
given in respect of The Aquascutum is given below:-
 Define the problem or opportunity – In this an organization need to conduct analysis in
order to determine problem or opportunity so that they can expand their business
operations and functions (Tanasychuk, Sirenko and Shapovalova, 2020). In respect of
The Aquascutum they will conduct market as well as workplace analysis in order to
determine opportunities which they can attain at the market of Singapore while opening
their store with new product i.e. color changing cloth.
 Develop marketing research plan – At respective stage, firm management need to
conduct research and development activities so that they can develop most effective
strategies in order to attain their desire goal and objectives. In respect of The
Aquascutum, they will conduct survey so that they can determine reaction of audiences of
Singapore toward the color changing cloths. It is helps in determine market demand as
well as requirement effectively.
 Collect relevant data and information – According to this, company need to analyze
whole data or information which they gathered through analysis or survey so that they
can develop strategies or plans accordingly (The 5 Step Marketing Research Process,
2020). In context of The Aquascutum, they gather information and data through survey
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so at this stage that will conduct analysis of those data. Through this they can develop
strategies related to opening store at Singapore market with color chaining cloths.
 Analyze data and report findings – In this stage company management need to determine
whether data which they gathered are effective for their business operations and functions
in effective manner (Madura, 2020). In respect of The Aquascutum, it is essential for
them determine survey outcome because through it they can identify whether their
business expansion or opening store at Singapore market with color changing cloths
effective will be effective or not.
 Put research into action – In this stage of international market research company need to
implement strategies or plan which they decided at the above stage as that will help them
in attaining desire goal. In respect of The Aquascutum, they will implement strategies for
opening new store at Singapore with color chaining cloths in order to attract more and
more customers. This is so because it is help in increasing sales, market shares and
profitability ratio.
Identify the existing consumer behavior towards the competitive products in the proposed
international market and demonstrate the window of opportunity for the planned product/service.
Consumer behavior is the investigation of how individual clients, group or company
select, purchase, use, and arrange thoughts, merchandise, and administrations to fulfill their
necessities and needs. It alludes to the activities of the customers in the commercial center and
the fundamental thought processes in those activities. It is essential for a company to conduct
analysis of customer behavior in order to determine their prospective towards the new or specific
products and services (Martínez-Lópezand et. al., 2020). Similarly it is essential for The
Aquascutum because they are planning to conduct international market expansion i.e. at the
market of Singapore with the new product which is color changing material. It is so because
through it they able to analysis customers review as well as prospective in respect of color
changing cloth which respective company will launch at Singapore. Through this management
can develop strategies, promotion plan as well as it will also help in conducting improvement
according to audience requirement. In addition to this, analysis conducted in respect of the color
changing cloths at the Singapore market The Aquascutum analyze that respective country
audiences are very fashionable as well as they happily welcome new tradition (Pegan, Vianelli
and de Luca, 2020). So it will be opportunity for the respective company to introduce color
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changing clothing according to which dress will change color according to wash as well as there
are some liquids provided by Aquascutum, so when individual dip cloth in that it will change
color accordingly. This show that through respective innovation The Aquascutum able to attract
more and more customers as well as it will also help in increasing sales in less time duration at
the market of Singapore.
Based on your findings from develop the most suitable marketing strategy to exploit the
identified opportunity.
Marketing strategy is a long haul, forward-looking method and a general strategy of any
association or any business with the principal objective of accomplishing or attaining
competitive advantage at the potential marketplace by fulfilling customers need, demand and
expectation (Samiee, 2020). In order to expand business at the global market a company need to
select most appropriate marketing strategy because through that they can attract more and more
customers in new as well as old marketplace. Similarly, it is essential for The Aquascutum to
select most appropriate and effective marketing strategy which helps them in exploring
opportunity at the Singapore by launching store with color changing cloths. According to the
above analysis below some of the suitable marketing strategies are given below:-
 Social media marketing – Other than setting up a site, The Aquascutum can give
mainstream social media communication locales something to do as a promoting
technique (Sheth, 2020). Sites like Twitter and Facebook can be important for portraying
existing items, presenting new items, offering advancements and declaring deals.
YouTube, the video site, can be compelling for The Aquascutum with an item that
requires an exhibit or for an assembling plant visit.
 Offer discount and coupons – It can also be adopted by The Aquascutum because through
it other than rich people able to afford their products which help them in increasing their
sales which leads to generation of high profitability (Stekelorum, Laguir and Elbaz,
2020). It is also help in promoting color changing cloths in front of huge audiences.
CONCLUSION
By analyzing above mentioned point it can be determine and summarized that for every
company it is essential conduct market analysis because through it they can conduct their
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business operations and functions effectively at the international market. For this they need to
conduct evaluation of their products and services according to the current trends because it help
in determining whether it impact in the future or not. They also need to identify opportunities at
the international market as that will help in developing effective decision related to the business
operations and functions. Company also needs to develop strategy through which they can
understand customer’s behavior in the international competitive marketplace, in addition to this
by conducting these activities an organization able to develop effective marketing strategy. That
will help them in attaining desire goal as well as objective in successful manner.
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REFRENCES
Books and Journals
Arslan, A. and et. al., 2020. Cause-related marketing, legitimacy and internationalization of
professional service firms. International Marketing Review.
Farrell, C., 2020. Do international marketing simulations provide an authentic assessment of
learning? A student perspective. The International Journal of Management
Education. 18(1). p.100362.
Gölgeci, I. and Kuivalainen, O., 2020. Does social capital matter for supply chain resilience? The
role of absorptive capacity and marketing-supply chain management
alignment. Industrial Marketing Management. 84. pp.63-74.
Kotabe, M. M. and Helsen, K., 2020. Global marketing management. John Wiley & Sons.
Laksono, A. S. and et. al., 2020. International Marketing Management: PT. Sampoerna
Tbk. International Journal of Applied Business and International Management. 5(1).
pp.93-100.
Madura, J., 2020. International financial management. Cengage Learning.
Martínez-López, F.J. and et. al., 2020. Industrial marketing management: Bibliometric overview
since its foundation. Industrial Marketing Management. 84. pp.19-38.
Pegan, G., Vianelli, D. and de Luca, P., 2020. International Marketing Strategy. International
Series in Advanced Management Studies.
Samiee, S., 2020. International marketing and the internet: a research overview and the path
forward. International Marketing Review.
Sheth, J. N., 2020. Borderless Media: Rethinking International Marketing. Journal of
International Marketing. 28(1). pp.3-12.
Stekelorum, R., Laguir, I. and Elbaz, J., 2020. Cooperation with international NGOs and supplier
assessment: Investigating the multiple mediating role of CSR activities in
SMEs. Industrial Marketing Management. 84. pp.50-62.
Tanasychuk, A., Sirenko, S. and Shapovalova, Y., 2020. STRUCTURAL SET OF THE
CONCEPT OF MARKETING MANAGEMENT OF THE INTERNATIONAL
ACTIVITY OF THE ENTERPRISE. COLLECTIVE MONOGRAPHS.
Online
The fashion industry in 2020: Ten top theme from The State of Fashion. 2020. [Online].
Available through:<https://www.mckinsey.com/industries/retail/our-insights/the-
fashion-industry-in-2020-ten-top-themes-from-the-state-of-fashion>.
The 5 Step Marketing Research Process. 2020. [Online]. Available through:<
https://www.smartbugmedia.com/blog/the-5-step-marketing-research-process>.
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