International Marketing Strategy Report for Prufrock Coffee in Croatia

This report provides a comprehensive analysis of Prufrock Coffee's marketing strategy, focusing on its potential expansion into the Croatian market. It begins with an introduction to the importance of marketing strategy in today's competitive business environment, followed by an overview of Prufrock Coffee, a small coffee shop based in London. The main body of the report examines the opportunities for Prufrock Coffee in Croatia, highlighting the country's attractiveness due to tourism, population demand for quality coffee, and economic stability. The report then outlines the marketing objectives, emphasizing the SMART goals for promoting new products, growing digital presence, and increasing sales and revenue. The report also discusses key performance indicators (KPIs) for measuring the success of these objectives. Furthermore, the report details an international marketing strategy, focusing on social media marketing, content marketing, and differentiation strategies to effectively reach and engage with the Croatian market. The report concludes with a summary of the findings and a discussion of the 7Ps marketing mix, including product, price, place, promotion, people, process, and physical evidence, as applied to Prufrock Coffee's Croatian expansion. The references section provides a list of academic sources used in the report.

MARKETING STRATEGY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Opportunity in the country........................................................................................................3
Marketing Objectives................................................................................................................5
Design an International Marketing Strategy..........................................................................6
7P’s marketing mix strategy....................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES............................................................................................................................12

INTRODUCTION
Marketing strategy always plays too necessary role to different businesses or
ventures in the market. In this modern world, there are very high competition within
each type of industries, so that existing management of each company has required to
develop their strategies of marketing for gaining huge competitive advantage in the
market. Currently only those companies are able to generate huge profit in the market
who has well developed strategies of marketing. Many companies or businesses within
the market has hired different strategy makers within their business environment who
makes different strategies for these companies or businesses. By adopting and
implementing new strategies of marketing, any person can simply gain huge profit within
the market in this dynamic world. This report discusses the marketing strategy of
Prufrock Coffee. It is small coffee shop business which is situated in London, United
Kingdom. There are different opportunities and marketing objectives also has been
discussed in this report which upper management of this SME should be considered
while operating its different business operations in Croatia.
MAIN BODY
Opportunity in the country
Prufrock is a small business café situated in London in Central city so that they
can get in the right customer base. The company is expanding themselves in Croatia so
that they can find a large customer base and the profit margins of the organization are
also going to improve. Croatia is an island which is attracting a lot of customers and
Prufrock is having unique favours and interiors for themselves which is very well
maintained (Safari, Safari and Montazer, 2016). The organization has been able to
make a place for themselves because of the measures and strategies which the
organization has been using over time and the experience they have gained in the
country. The café has not expanded them in any other country and Croatia is having
high tourism and population demand for good quality of coffee. There are different
beans which are being used by Prufrock so that there is a better functioning and
satisfaction of the country. The trends and demands of the population are improving and
increasing in the market so that is why it is very important for the organization to be able
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to make a place for them in the market. There are a lot of goods and services which are
going to be less expensive for the company to be able to expand themselves but the
organization will have to find the right strategy to be able to use that and improve the
profits.
The economic stability is very much present and that can be a great factor for the
café because the organization will be able to increase the pricing strategy and make it
competitive in the country so that there is higher profitability. There is lesser policy
restriction which is present in the country which is why export and importing in Croatia is
not going to be a problem for Prufrock café. This is going to make the company gain
more knowledge of different markets so that there is going to be a better functioning.
The quality is going to be maintained and there would be a better functioning and skills
are going to improve so that there is a better reference for the future so that there is
going to be a good portfolio for the company. It is very important for cafes to be able to
have a strong portfolio and reputation in the market so that there would be better
performance and higher profitability (Richardson, Choong and Parker, 2016). For
expanding the economic factor is going to be low and the organization will be able to
grow in the market which is very essential for Prufrock to be able to compete with the
competitors in the market. There are modern services which are being provided by
Prufrock and that is going to attract the right customers which are going to help the
organization improve and invent more products and services for them so that there is a
higher brand value in the market and that is a very good factor for long run.
On the other hand, most people of Croatia are completely literate, so that these
people give higher priority to only those businesses or ventures which generally
produces the quality products and services. According to this attribute of Croatian
people, Prufrock coffee has a great opportunity to generate excellent revenue in its
begging stage of market by producing and providing the quality coffee to local people.
There are research and development team of this business will also require to be more
active and energetic in its existing job role for finding or innovating different new flavours
of coffee (Dimitrova, Smith and Andras, 2020). There are management of business
should be focused on maintaining an exclusiveness within its various products and
services, because many exclusive products mostly attract to local Croatian people.
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They always like to consume some exclusive range of products and services. That’s
why by providing exclusive products and services to various people of Croatia, this SME
will get the opportunity to gain huge profit margins at this country.
Marketing Objectives
These are the goals which are well-defined which outlines the marketing team intentions
and gives clear direction for the members to follow. The marketing objectives must be
SMART (Specific, Measurable, Achievable, Relevant and Time-Bound).
The objectives of Prufrock must be to promote New products or Services. Since the
brand is not expanded worldwide. It should grow its digital presence through social
networking sites and websites. The café Prufrock must reach new audiences, clients
and customers in order to expand to expand in Croatia. It is also must to build the
awareness of the brand to reach maximum number of customers (Misirlis and
Vlachopoulou, 2018). The major focus of the company must be to increase sales and
revenue i.e., amount of money coming in the company.
Along with all these, the objective must be to increase the amount of profit which can
be done by selling those items which have higher margins, cutting expenses and many
more. This can be done by expanding the services into the new market or location.
But, Prufrock, not having enough capital to expand in the new market, it can grow the
share of market by expanding in the current market.
All these objectives must not be focussed at the same time. The emphasis must be laid
upon 2 or 3 objectives so that it becomes easy to revisit them again and take other
goals at later time.
Use of KPIs for Assigning Objectives of Marketing
After making SMART objectives, it is must for the company to measure them
correctly. Setting a goal successfully needs to place the KPIs and benchmarks on the
plans (Aslam, 2018). These allows the company to evaluate the progress and analyse
the results. It describes that whether the work is successful or not. Some of the KPIs are
as described.
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The most important among all is Growth of Sales which states that while focusing on
improving the sales, the company must keep a watch on the revenue and whether the
sales are growing or not according to the changing trends.
Along with this, the another one is the market share which provides the information of
the current state of the business in the current market. The goals can also be measured
by examining the generation of leads and its increase.
It can also be measured by keeping a tab on the acquisition of new customers
(Išoraitė, 2016). The lead to customer ratio is calculated for this which means the
amount used in acquiring the new customer. It can also be done by analysing the
number of satisfied customers or repeat customers which play a major role in
increasing the sales of the Prufrock café.
As Prufock wants to expand its services in Croatia, so it must keep a check on the
website metrics which means number of people visiting the site, average number of
pages in the site, time that customer spend on a site and many more. Social
engagement can also become the best way to measure the objective as it will describe
the number of followers, comments on posts, sharing of content, social campaigns and
social media traffic.
Design an International Marketing Strategy
International marketing strategy can be defined as a strategy that comprises
wide countries from certain different regions across the world and goals to
coordinate an organization’s marketing efforts in the business market among these
countries. International marketing strategy supports company to sell it’s product at
international level and make the people aware about it’s specification (Išoraitė,
2016). This strategy is not only helped company to establish it’s business effectively
but also brings competitive advantage in the global market. There are various
international marketing strategies that used by Prufrock Coffee to sell it’s products
successfully in it’s new market i.e. Croatia at international level. Strategies are:
 Social Media Marketing: It is a quite effective marketing strategy that focuses
on users’ needs and expectation by leading both consumer and seller together
through social media. Croatia is a good country whereas people also highly
updated for the e-commerce market and highly active on social media. With this
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marketing strategy Prufrock Café easily can communicate with large number of
customers by increasing awareness about company. Currently social media has
become one of the major marketing platforms for the companies because it
brings advanced between public and companies beyond region restriction.
Prufrock Coffee café can use this strategy to influence awareness in people
about it’s products and services in Croatia through the social media. For
example, it can make a official page on social media and take paid promotion to
introduce Croatia people about Prufrock and it’s specialization then it will attract
them towards company to buy it’s services. This social media marketing strategy
is not supported to increase awareness in people but also helped to build string
customer base through the social media. To increase customer engagement can
add some features or touchpoints on it’s official sites such as a like, share,
comment by Prufrock café. Thus, company can engage public and later on
convert them into customers (Thabit and Raewf, 2018). As resultant organization
successfully can gain it’s a objective related to customer base. To influence
potential customer in Croatia can shares content videos and images by Prufrock
Café in the social media. Social media network includes Facebook, Linkedln,
YouTube and Instagram and other search engines i.e. Google and Yahoo. This
international marketing strategy is cost-effective and declines high expenses of
marketing. Thus, this strategy will help to improve digital presence in the Croatia.
 Content Marketing: It is another international marketing strategy that
emphasizes on selling to improve buying behaviour. This approach majorly
focuses on developing and distributing information related to customer’s needs in
order to achieve all objectives effectively (Išoraitė, 2016). It includes video, blogs,
white paper, webinars and e-books that are used to share message among
people about company and it’s products. This strategy will support company to
promote it’s new products and services in the Croatia effectively as well as build
loyal customers. This strategy allows organization to write such slogan or
message which attracts customers towards company and influences them to buy
product and services. This strategy also supports company in growing brand
visibility, credibility and desirability. Webinars is a type of content videos that can
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use Prufrock café to give brief introduction about it’s company profile, product
and services to the Croatia’s public. Thus, it will enable to attract customer
towards it’s brand and encourages their purchasing behaviour. As same there
are other sources involves in the content marketing that will project defined
objectives effectively.
 Differentiation strategy: It is another effective international marketing strategy
that supports to differentiate brand and products from others in the business
market. This strategy is not only helped to unified brand image but also brings
competitive advantage in the business (Looand Leung, 2018). This marketing
strategy allows company to become innovator in the market by offering standard
quality products and services to the customer. With this strategy Prufrock can
promote it’s new product in the Croatia and define customers it’s specialization
and uniqueness from other existing brands. Due to uniqueness company can
improve purchasing behaviour of customers for the product and services as
resulted enable to generated high revenue on it’s new product effectively. Croatia
is such country whereas people wants such product that doesn’t give any
negative impact on their health. With this strategy company will achieve it’s
projected objective such as to generate high profit on it’s new products and
builds good brand image in the business market.
7P’s marketing mix strategy
It is a marketing tool that comprises different marketing strategies which undertakes by
company to promote it’s product and services effectively. It contains different marketing
strategies such as product, price, place and promotion (Pogorelova and et.al., 2016).
this marketing mix strategy supports Prufrock Café to expand it’s small scale business
at global level. Prufrock is the SME business so these strategies will support upgrade
brand image in it's market effectively.
 Product strategy:
It is primary element of the 4p’s marketing mix tool wherein give overview about
products such as it’s benefits and uniqueness of product from others. Prufrock café can
use product diversification strategy to introduce it’s new products i.e. coffee and
services to the customer. Thus, company can easily differentiate it’s products from other
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at global level. But while promoting it’s product and services at global level in that state
it can face economical challenge. The reason behind is that it is small medium sized
business so it needs to invest high funds in R&D department to bring advancement in
it’s existing product and services. So, Prufrock Café requires good funding sources then
it can expand it’s product at global level.
 Pricing strategy:
It is another effective strategy of 4p’s marketing mix strategy wherein products are
promoted ay the global level due to it’s price. Price factor plays essential role in
promoting products because when product price is lower that will attract customers to
buy such products as well as retain existing customers effectively. For instance, if
product price is hike then company can influence only limited people to buy such
products but cannot build strong customer base. So, pricing factor is responsible for
product demand (Mahmoud, 2018). It also supports to gain highly competitive
advantage in the business market. This strategy allows Prufrock Café to expand it’s
business at global level such as Croatia. For example, company can sell it’s product
such as coffee at reasonable price while maintaining it’s quality. It will enhance
customer’s buying behaviour in the Croatia and retains them for long time as result
enables to generate high revenue on it’s products. Lower pricing strategy will bring
competitive advantage in the Prufrock café from competitors. While implementing this
strategy company can face financial issue at global level because there are other
companies or café that already has captured large market share on it’s certain products
and posses’ strong customer base. In that state company can get difficulty to sustain it’s
business at global level. But it has good quality product and effective services like home
delivery, online purchasing etc. will help to build large customer base.
 Promotion strategy:
It is one of the most important elements that supports company to gain high profitability
and upgrade brand image at global level (Boso, Debrah and Amankwah-Amoah, 2018).
There are lots of companies that have been practiced this strategy to influence brand
positioning at global level. It includes number of promotional tools i.e. digital and
traditional media. Digital media are social media, search engines and others practice by
company to influence brand image in the business market. While traditional media
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comprise TV advertisement, hoarding, billboards and others uses by companies to
reach customer and aware them about brand and it’s products. Prufrock Café applies
digital tool to expand awareness in customer about it’s product and services at global
level. The reason behind is that digital media has become one of the most
communicating platforms because it allows all people without region or country
restriction to communicate with other people effectively. Secondly, it is cost-effective as
compared traditional media so, Prufrock Café practices this strategy to build strong
global presence in the Croatia.
 Place strategy
To get success needs to have strong distribution network. When organization has
strong distribution network then it can easily promote customer to buy it’s product and
services by offering high availability of it’s product at different region. This strategy can
support Prufrock Café to expand it’s business at large level in the Croatia. But company
can face global challenge while implementing this strategy in the organization. For
example, to bring strength in it’s distribution network needs to improve product portfolio
as well as requires strong financial sources then Prufrock can successfully develop it’s
strong distribution network (Katsikeas, Leonidou and Zeriti, 2019). It is a major
challenge for the Prufrock that can create difficulties while expanding it’s business in
Croatia. But company can overcome this issue by selecting strong funding source which
can spend huge capital in business expansion at global level.
With these factors Prufrock Café can easily expand it’s business in Croatia
effectively.
CONCLUSION
On the basis of above findings, there are upper level management of Prufrock
coffee shop has highly required to adopt and implement different marketing strategies
within its daily operations. It is very necessary to this company for gaining very
appropriate results or outcomes within its business operations of Croatia. Basically,
business environment of this country is very favourable to this SME, however upper
management of enterprise should be used some modern strategies of marketing to
easily deal with the existing coffee café businesses of Croatia. Of course, currently
there are lots of coffee café businesses already established in this country which can
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give very tough competition to Prufrock coffee when it will be started its business
operations in this country. In this situation, there are existing management of this
business has an opportunity to gain excellent competitive advantage in this country by
providing the different exclusive flavours of coffee.
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REFERENCES
Books & Journals
Dimitrova, B. V., Smith, B. and Andras, T. L., 2020. Marketing channel evolution: From
contactual efficiency to brand value co-creation and appropriation within the
platform enterprise. Journal of Marketing Channels. 26(1). pp.60-71.
Safari, F., Safari, N. and Montazer, G. A., 2016. Customer lifetime value determination
based on RFM model. Marketing Intelligence & Planning.
Richardson, P. S., Choong, P. and Parker, M., 2016. Social media marketing strategy:
Theory and research propositions. Journal of Marketing Development and
Competitiveness. 10(2).
Misirlis, N. and Vlachopoulou, M., 2018. Social media metrics and analytics in
marketing–S3M: A mapping literature review. International Journal of
Information Management. 38(1). pp.270-276.
Aslam, A.S., 2018. Sponsorship and Marketing Objectives: Study of Medium and Large
Size Companies in Pakistan. NUML International Journal of Business &
Management. 13(1). pp.147-161.
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of research
granthaalayah. 4(6). pp.25-37.
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies, 4(4).
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of research
granthaalayah, 4(6), pp.25-37.
Loo, P.T. and Leung, R., 2018. A service failure framework of hotels in Taiwan:
Adaptation of 7Ps marketing mix elements. Journal of vacation
marketing, 24(1), pp.79-100.
Pogorelova, E and et.al., 2016. Marketing Mix for E-commerce. International journal of
environmental & science education, 11(14), pp.6744-6759.
Mahmoud, T.O., 2018. Impact of green marketing mix on purchase
intention. International Journal of Advanced and Applied Sciences, 5(2), pp.127-
135.
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