MRKT20057: Beechworth Honey's Global Marketing Strategy for UK Entry

This report presents a comprehensive marketing strategy for Beechworth Honey's entry into the UK market (MRKT20057). It covers crucial aspects such as market selection, entry modes including joint ventures, subcontracting, franchising, acquisition and alliances, and competitive strategies like cost leadership and product differentiation. The report also details the marketing mix strategies (product, price, place, promotion) necessary for successful market penetration, emphasizing the importance of maintaining product quality, affordable pricing, customer engagement, and leveraging social media for promotion. The conclusion summarizes the key strategies for selecting an appropriate market, choosing an effective entry mode, gaining a competitive edge, and implementing a suitable product mix strategy, all supported by relevant academic references.

MRKT20057
Global
Marketing
Report

HELLO!
My name is (Name of
student)
I am enrolled in MRKT20057. I am in
front of you guys to present my view on
the strategies that Beechworth honey
can take to enter in UK market.
2

“This presentation includes
the marketing strategy for
Beechworth Honey that
they can use while entering
UK Market. This include
market selection, mode of
entry, competitive
strategies and the
marketing mix strategies
3
Introduction

Beechworth Honey
•It is one of the leading
companies that
produces Honey and
related products in
Australia.
•They also have
products related to
beauty which are made
from the honey and also
they deal in foods and
drinks made from honey
4

Market Selection
It is necessary for Beechworth
Honey because –
▪ This will help them to know the
consumer perception related to
honey and honey related product.
▪ Help the company to make a
strong customer base in new
market.
5

Factors To Determine Appropriate Market
Excellent Quality
Beechworth has to
maintain the same
product quality and
also have to
maintain the quality
standards of UK
government.
Pricing and
payment
Present the product
in new market in
affordable manner
and at a good price
so that they can
attract more
customers.
Market
penetration
reason
The company has
to emotionally
engage the
customers so that
they are able to
penetrate the
market.
6

Relationship with buyer
The company has to look
for the buyers and need to
make good relation with
them so that these buyers
get associated with the
company for a long period
of time.
Factors To Determine Appropriate Market
Market and consumer
Knowledge.
The company has to look
upon the market trends
and the consumer
behavior towards the
honey industry. This will
help Beechworth to make
strategies accordingly.
7

Mode of Entry
How Beechworth Honey can enter UK
market?
8

9
Joint
Ventures
Subcontr
act
Franchise
Acquisiti
on
Export
Alliance
Mode of
Entry

Export – Beechworth can
export their products from
their Australian Operations.
Joint Ventures –
Beechworth can join hands
with an already established
brand in UK
Sub Contract – the
company can enter UK
market by outsourcing their
business.10

Franchise – Beechworth can
also choose the option to
franchise their brand in UK.
Acquisition – the company
can acquire some small honey
producing company thus
establishing a base in the new
market.
Alliance – they can collaborate
to some other similar company
to promote their product.11

Competitive strategies
To sustain in the market
1

Cost Leadership
▪ The company will provide
the products at very
economical prices.
▪ The company have to
analyze various aspects like
 Inflation rate
 Purchasing power of
consumers
13

Product Differentiation
▪ The company has to analyze
the socio cultural factors
and market trends so that
they can know the current
demands of the customers.
▪ Supplying a different
product in the market will
help the organization to
attract more consumers.
14

Marketing mix strategies
15
Marketing
Mix
Product
PricePlace
Promotion

Product and Price
16
Beechworth need to introduce
several new products in their current
product line so that they can
implement the product differentiation
strategy that they have decided.
They have to make the pricing
strategy keeping in the breakeven
price and their profitability index.
They need to set the prices to attract
the consumers.

Place and Promotion
▪ The place is an important
factor as it helps the
company to select the
demographic factors that
will sell the products.
▪ The company can use
various technology like
social media to promote the
their product in UK market.
17

Conclusion
This presentation includes the strategy
for Beechworth honey to enter in UK
market. This presentation includes the
strategies that help the organization to
select and appropriate market and a
mode for entry. This presentation also
gives strategy that will help the
company to gain a competitive
advantage. Product mix strategy is also
included in this presentation.

References
▪ Hassan, H., Tretiakov, A., & Whiddett, D. (2017). Factors affecting the breadth
and depth of e-procurement use in small and medium enterprises. Journal of
Organizational Computing and Electronic Commerce, 27(4), 304-324.
https://www-tandfonline-com.ezproxy.cqu.edu.au/doi/pdf/10.1080/10919392.20
17.1363584?needAccess=true
▪ Dubiel, A., Banerjee, S., Ernst, H., & Subramaniam, M. (2018). International-
market-information use across new-product-development stages. International
Marketing Review, 35(5), 760-784. https://www-emerald-
com.ezproxy.cqu.edu.au/insight/content/doi/10.1108/IMR-05-2015-0128/full/pdf
▪ Ortega, A., García, M., & Santos, M. (2017). Effectuation-causation: What
happens in new product development? Management Decision, 55(8), 1717-
1735.
https://www-emerald-com.ezproxy.cqu.edu.au/insight/content/doi/10.1108/MD-
03-2016-0160/full/pdf19

References
▪ Leung, E., Paolacci, G., & Puntoni, S. (2018). Man Versus Machine:
Resisting Automation in Identity-Based Consumer Behavior. Journal of
Marketing Research, 55(6), 818-831.
https://journals-sagepub-com.ezproxy.cqu.edu.au/doi/pdf/10.1177/00
22243718818423
▪ Datta, H., Ailawadi, K., & Van Heerde, H. (2017). How Well Does
Consumer-Based Brand Equity Align with Sales-Based Brand Equity
and Marketing-Mix Response? Journal of Marketing, 81(3), 1-20.
https://journals-sagepub-com.ezproxy.cqu.edu.au/doi/pdf/10.1509/jm.
15.0340
▪ Schellenberg, M., Harker, M., & Jafari, A. (2018). International market
entry mode - a systematic literature review. Journal of Strategic
Marketing, 26(7), 601-627. https://www-tandfonline-
com.ezproxy.cqu.edu.au/doi/pdf/10.1080/0965254X.2017.1339114?
needAccess=true
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