Investigating Market Expansion Strategies for Business Development

This report investigates market expansion strategies within the context of business development, focusing on the case of Marks and Spencer. The research begins with an introduction to business development and its role in enhancing a company's internal and external operations, particularly in the context of global market expansion. The report outlines the aim and objectives, research questions, and project plan, followed by a literature review exploring the latest trends, strategies, and challenges related to market expansion. The research methodology, including qualitative methods, interpretivism, descriptive design, and inductive approaches, is detailed. Data collection methods using both primary and secondary sources and data analysis methods are also discussed. The report presents findings, including data analysis and interpretations, and concludes with recommendations and a personal development plan. The report aims to examine the strategies used by Marks and Spencer, the challenges faced, and provide recommendations for effective business development in global markets.

RESEARCH FOR
STRATEGIC
DEVELOPMENT

Table of Contents
TASK 1 Formulates the Research Proposal ....................................................................................3
RESEARCH BACKGROUND...................................................................................................3
AIM AND OBJECTIVES...........................................................................................................3
RESEARCH QUESTION...........................................................................................................4
PROJECT PLAN........................................................................................................................4
RATIONAL................................................................................................................................5
TASK 2 Literature Reviews and Research Methodologies.............................................................5
Literature Review........................................................................................................................5
Research Methodologies ............................................................................................................6
TASK 3 Presentations of research Findings .................................................................................10
Data Analysis and Interpretations.............................................................................................10
Conclusion and Recommendation ............................................................................................16
TASK 4 Refection and Feedback..................................................................................................17
Reflection:.................................................................................................................................17
Recommendation:.....................................................................................................................17
Personal development plan.......................................................................................................17
REFERENCES..............................................................................................................................19

Title: To investigate the strategies of market expansion in context of business development in
emerging global market.
TASK 1 Formulates the Research Proposal
RESEARCH BACKGROUND
Business development is such process which helps business to develop their internal and
external part of their workings and also enhances the employees interests in their organisation for
long term growth. Usually business development is not initiated to gain for large amount of
profits but it can be done by having no profits and no loss to business (10 Effective Business
development Strategies (Plan), 2019). In this research, the business development mainly used the
strategies in context of market expansion of company and accordingly company makes strategies
to enhance their sales and production activity at large scale. The main purpose of using such
strategies are in relation to enhancing the marketing techniques and also target market to fulfil
the needs and demands of the customers. The present research is based ion Marks and Spencer
company which was founded by Michael Marks and Thomas Spencer in 1884(Moutinho and
Vargas-Sanchez, 2018). This company is a multinational retailer company deals in clothings,
home equipments and food products and its headquarters is in London. M&S carry a strong
brand images and also they are engaged with large number of employees carrying their business
at international level.
AIM AND OBJECTIVES
Aim: To investigate the strategies of market expansion in context of business development in
emerging global market - A study of Marks and Spencer company.
Objectives:
 To examine the latest trends employed by company to expand their business in global
market.
 To outline the strategies used by Marks and Spencer to expand their market in emerging
global world.
 To assess the challenges faced by company in context of market expansion while entering
into global market.
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 To provides recommendation to Marks and Spencer regarding the appropriate strategies
used for business development in global market.
RESEARCH QUESTION
1. What are the latest trends employed by company to expand their business in global
market?
2. What are the strategies used by Marks and Spencer to expand their market in emerging
global world?
3. How the challenges regarding market expansion to be faced by company while entering
into global market?
PROJECT PLAN
Planning in project is the major aspect regarding maintaining the every activity in the
project and also keep an eye on the working of the matters which helps in effective project
planning. It includes the following aspects to accomplish a successful project such as:
 Stakeholders: Project is initiated after examining the appropriate stakeholders in that
project to which the project is to be presented and also if they approve such project than
only such project is to be carried forward for further accomplishment (Roberts, 2018).
Stakeholders are such person who invested money in such projects and also they carry the
liability to minutely check such process and its daily updates report is to be examined by
them.
 Scope: The scope is the major aspect as without having the clear vision and mission in
the company it cannot be accomplished. Due to having the certainty in scope it helps the
other team members to make strategies to achieve goal in the project without any delay.
 Cost and Quality: It is another important aspect and also to be managed at large scale.
Usually without investing cost in every activity it not results in quality work to be
provides (Wirtz and et.al., 2016). As spending the cost in accurate activity result in
bringing more quality products and services and by this they enhance their project at
large scale.
 Time: If any project is to be taken it is examined by its start and end time and it is
initiated by the procedure only. Usually time is important in every project and also it is to
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be manges by every team members who are carrying such project in more effective
manner.
 Communication and risk: The project initiated with good aspect of there is good
communication between every team members who are initiating that project in better
manners (Woodfield, 2018). As communication results in solving many disputes and also
the risk arises through lack of communication can also to be resolved of every team
members discuss every activity and task which is to be accomplished in that projects.
RATIONAL
The reason behind choosing this topic is in context of globalisation and its facilities
which are provided to company regarding expanding their internal and external activities. Thus,
researcher finds this topic interesting as due to global world many new techniques are to be
implemented which results in bring more growth to the business. Researcher also find this topic
interesting as lot of authors had already gathered wide range of data in respect of market
expansion and also from viewing their reviews they can conduct the deep study of the data
collected. Researcher is more satisfied with the working in the company but to analysed certain
aspects which helps company to take effective decision relating to more business development.
TASK 2 Literature Reviews and Research Methodologies
Literature Review
Theme 1: Latest trends employed by company to expand their business in global market
According to Paris, Wasik and Turner, (2016) stated that the latest trend which is used by
company to expand their market is in relation to using the digital transformational to the brand
image of the business and their products and services in market. By campaigning their products
through digital sites, it attracts the customers to large scale and also they can promote their new
products through such technology.
Woodfield, (2015) criticised that technology sometimes lower down the business growth
as due to easily track by their competitors or not working at the time of ordering the products by
customers. In such cases it results in more complaining arises regarding the delivering of
products in accurate time. Market expansion is easier for the company but to maintain the
reputation in the market with the advance technology is tough.
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Theme 2: Strategies used by Marks and Spencer to expand their market in emerging global
world
As per Baines and et.al., (2017) suggested that to emerge their business into global
market, the strategies which is used by M&S is related to targeting the customers towards their
products and services and also produce such products according to the needs and demands of
such products in the market. Targeting the customers is the best way to expand the business into
international market. As the expenses which is incurred in expansion is resultant to be success by
adapting these strategies.
Wolf and Floyd, (2017) argued that the taste of customer are changing due to changes in
environment. They always demand such products which are of the best quality and low pricing
and in relation opt eatable products they prefer the organic products. Thus, if the company
expand their business by keeping the customer point of view regarding their products than in
such cases it results in affecting their expanding strategies in global market.
Theme 3: Challenges faced by company in context of market expansion while entering into
global market.
Warner and Sullivan, (2017) suggested that the major challenges which is faced by
company in respect of market expansion is resultant to expanding the business in wrong
countries where there are strict government norms regarding the tax charges or barriers in case of
import and export of goods and services. The major challenges are also in respect of culture
values and norms in different countries and the communication gap which resultant in bringing
lot of confusion in communication through different languages. The challenges which affects the
market expansion are of huge impact in growth of business at large scale.
Collins, (2018) viewed that the challenges which is discussed had not major impact if the
company appoint the right person to carry such procedure at international level. It mainly
includes the proper planning and procedure to expand their business into market and also uses
various techniques and method to overcome from such challenges which is faced by company.
Research Methodologies
It includes the systematic planning and procedure to conduct the appropriate research.
With the research method it helps to examine various facts and figure to collect relevant data and
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use it appropriately to make the research work and unique and different. It includes the following
methods:
Research Methods Types Justification
Research types Quantitative and Qualitative There are various types of
research and in this method
researcher had applied the
Qualitative method to carry
their research work (Giaoutzi,
2017). In this method they can
conduct survey, interview and
also examines various other
information for such sources.
Research Philosophies Positivism and Interpretivism In this method it carries with
various ideas, thought and
expression to carry the
research work to get the more
appropriate results (Dubey and
et.al., 2017). Researcher had
applied the Interpretivism
method to carry the research to
interpret the available data
from such information which
is gather.
Research Design Descriptive and Experimental It includes designing the
research work so that it look
presentable and different from
other research work. In such
cases researcher had applied
the descriptive method to
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collect data from available
sources. Descriptive method
thus results in analysing the
deep study of the research
work to gather the information
which is reliable (Cooper,
2017).
Research Approach Inductive and Deductive It includes the proper planning
and steps which is to be taken
to reach to that area from
information are to be gathered.
In this researcher had applied
the Inductive method to collect
data from the available
sources. Inductive research
bring lot of aspects which
helps companies to take
effective decision making.
Data collection Primary and Secondary data It is such a method which
includes gathering, interpreting
and organising such data from
the available resource. Here
researcher had applied both the
method to collect data from the
available resources (Bettis and
et.al., 2016). Primary data is
used to collect information
from available sources while
secondary data is used to
gather information from other
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sources which is not primary.
Data Analysis Thematic and Non Thematic
Method
In this method, researcher
analyses the collected data so
that there are more chances to
get the accurate results.
Researcher had applied
thematic method to collect data
from the available sources
(Mukhopadhyay, 2016). By
this method they can make the
research clear and useful by
conducting and presenting the
research on the bases of theme.
Sampling Random and systematic
sampling
Sampling method is mainly
used when there are large
number of employee and data
are to be gather from all such
sources in such cases sampling
method is used to collect data
(Hung and Quartered, 2017).
Researcher had applied the
random sampling method to
pick random people to gather
information. In this research,
the information is to be gather
from 20 managers to know
about the expansion techniques
used by company.
Ethical Consideration Researcher had maintained
certain ethical norms at the
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time of research. Ethics are
related to not disclosing the
information of the company
and their employees without
their permission of such
disclosure. During research
they didn't harm any person
either mentally and physically
to conduct their research work.
TASK 3 Presentations of research Findings
Data Analysis and Interpretations
Q.1) Is market expansion strategies is useful for companies to develop growth in their
infrastructure?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
Q.2) What are the latest trends used by company to expand their business in global market?
 Online marketing
 Targeting customers
 Innovative products design
 Campaign
Q.3) What are the strategies used by Marks and Spencer to expand their market in emerging
global world?
 Customer reviews
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 Market penetration
 Digital transformational
 All of above
Q.4) Is employees are satisfies with the expansion strategies in company?
 Yes
 No
Q.5) What are the challenges faced by company in context of market expansion while entering
into global market?
 Strict government norms
 Barriers in import and export
 Culture differences
 Communication gap
Q.6) How to recommend to Marks and Spencer regarding the appropriate strategies used for
business development in global market?
........................................
Theme 1: Market expansion strategies is useful for companies to develop growth in their
infrastructure
Particulars Respondents (20)
Strongly agree 12
Agree 3
Neutral 1
Disagree 2
Strongly disagree 2
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12
3
1
22
Strongly agree
Agree
Neutral
Disagree
Strongly disagree
Interpretation: From the above study it is to be interpreted that market expansion not only
enhances the stability and reputation of the company but also bring more advancement to their
internal working (Moutinho and Vargas-Sanchez, 2018). As lot of employees are attached with
their operational activities and are carrying their business into large scale. Majorly respondents
are strongly agreed with the strategies and process used in market expansion to the business for
longer term growth in the organisation.
Theme 2: The latest trends used by company to expand their business in global market
Particulars Respondents (20)
Online marketing 14
Targeting customers 3
Innovative products design 1
Campaign 2
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