Individual Market Report: B&M's Marketing Strategy for China Expansion

This individual market report examines B&M's strategy for expanding its retail business into the Chinese market. It begins with an introduction to societal and cultural considerations within China, emphasizing the importance of understanding the local environment. The report focuses on the application of the 5 Ps of marketing (Product, Price, Place, Promotion, and People) and their relationship with the macro-environment to formulate a successful market entry strategy. It highlights the significance of digital marketing, particularly the use of online platforms and search engines like Baidu, to reach Chinese consumers. The report analyzes how B&M must adapt its product offerings, pricing strategies, distribution channels, and promotional activities to align with Chinese consumer preferences, economic conditions, and cultural values. The conclusion underscores the importance of a comprehensive marketing plan that considers both internal and external factors to capture market share in China.

Individual market report

INTRODUCTION
Society is group of people which included in social interaction, more social group those
sharing similar social as well as geographical territory. In a society, there are large number of
people living of different culture (Durkheim, 2014). This report is based on B&M organisation
and it is retail firm in United Kingdom. It wants to expand its business in Chinese market. In
mention report discuss about 5 P's of marketing and also their relationship with macro-
environment.
TASK
Marketing strategy that will help to enter the Chinese Market
Market of China is confutative lucrative for savy business that look for expand business
operations. Under this, it is necessary to B& M organisation to develop its positive brand image
and also enhance visibility of services or goods. The online market of China dominated and this
country embraced digital revolution and also has biggest internet market penetration rate in order
to developing nation international. The customers of China purchase goods or service through
online so it is necessary for B& M company to make business digitally. Same as Google, in
China Baidu has huge reach with 75% of the online investigation. In addition to this it is a search
engine of China. So, it is essential for B & M firm to be visible with landing page, third party
references and quality site (Frances, 2013).
Marketing plan
Marketing plan is blueprint as well as document that outline marketing efforts and also
business advertising for future context. Under this many different marketing activities are
included in achieving particular objectives of the marketing with in specific period of time. Due
to globalisation, B & M wants to increase its market share; in this relation the firm starts its
business in Chinese market as the country has strong economic condition. China's annual GDP
growth is still tipped to exceed five%. The nation is world's number one trading and
manufacturer in terms of output. In this relation, B & M group requires to modify its marketing
plan cause there is a huge difference between nature of environment of both countries. The
business environment of the nation also get affected by several macro or external environmental
factors, i.e. political, legal, social etc.
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Following is defined relationship between marketing mix and macro environmental factors of the
country: -
Product – It consists with goods or services which are offered by a firm to its target
audiences so as to increase sales and profitability. As B & M deals in retailing sectors, its
provides wide range of FMCG brands and non-grocery products to customers (Gershon and et.
al., 2010). But in Chinese market, the firm is required to modify its product range, for example –
in UK people only wants qualitative products but in China people wants lower prices people.
Although, the political condition of China is strong, here government passes various new laws
and legislations that is must followed by all companies which are operating at there.
Price – In UK, B & M offers qualitative products and pride itself as its offerings are sold
are reasonable prices. Thus, the firm has acquired premium pricing policy in order to generate
higher sales. But in China, due to high population Chinese economy is facing the situation of
poverty and unemployment. It results people are not able to pay high prices on purchasing of
luxurious products. In this manner, B & M required to sale its products at sensational prices in
China.
Place – As a leading retail corporation, B & M is located at 560+ locations in UK and it
also sales its products through online website which helps it in reaching large group of customers
in a certain time period. Here, most of its stores are located at prime locations because people
usually prefer to purchase their products from these places (Hitt and et. al., 2011). As now the
brand is moved in Chinese economy; it results management needs to make several changes in its
distribution channel. Thus, B & M tries to open its stores at popular and local places because due
to higher population it is quite difficult for management to reach all customers in a single time.
Promotion - By considering this element, B & M in UK believes in aggressive
promotion and for the same it is continuously expanding its boundary lines and make clear cut
statement so as to attain and retain large group of customers. Apart from this, in China the firm
focuses on using social media tools, online advertisements and emails so as to influence
customers towards purchasing products and services of the company. In present scenario, needs
and wants of people are rapidly changing hence social trends are also changes. Chinese
government is also concerned about population growth, thus while promoting any business it is
too hard to consider values, beliefs and demands of all people.
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People- Under this, staff members and consumers are included. B & M business
organisation focus on satisfying needs as well as demands of consumers y providing better
quality of services or goods to them (Newell and Marabelli, 2014). In addition to this, firms of
United Kingdom country are customer oriented and their major focus on providing effective
quality of products to customers at reasonable cost which can fulfil their demands with in
significant manner. On the other hand, China is employee oriented and its main focus on
increasing their skills and capabilities so that they can offer better services to consumers and deal
with them in an proper or effective manner. In Chinese market, there are many firms whose
focus on providing employment opportunities to people so that they can earn and also make
improvement in their living standards. It will be helpful in increasing economic condition of
market of China.
CONCLUSION
It has been concluded from the above given report that for expand business in to Chinese
market, B &M business firm conducts an analysis of macro- environment. It is helpful in expand
business in Chinese market and also capture its large market share in an effective manner. Under
mention report studied about the marketing plan by using marketing plan with market strategy in
significant manner.
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REFERENCES
Books & Journals
Durkheim, E., 2014. The division of labor in society. Simon and Schuster.
Frances, A., 2013. Saving normal: An insider's revolt against out-of-control psychiatric
diagnosis, DSM-5, big pharma and the medicalization of ordinary life. Psychotherapy in
Australia.19(3). p.14.
Gershon, A.S. And et. al., 2010. Burden of comorbidity in individuals with asthma.
Thorax.65(7). pp.612-618.
Hitt, M.A. And et. al., 2011. Strategic entrepreneurship: creating value for individuals,
organizations, and society. The Academy of Management Perspectives.25(2). pp.57-75.
Online
Design business and marketing strategy in China, 2017. [Online]. Available through:
<http://daxueconsulting.com/business-marketing-strategy-china/>./
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