Expanding Hasty Tasty: An International Marketing Analysis for the USA

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This report examines the international marketing strategy of Hasty Tasty, a UK-based pizza company, as it plans to expand its business into the USA market. The report begins with an introduction to international marketing and then undertakes a PESTLE analysis to evaluate the political, economic, social, technological, legal, and environmental factors influencing the company's success in the USA. It explores the positive and negative impacts of each factor. The report then addresses product modification, including promotion, pricing, and distribution decisions, and identifies key challenges in expanding the business internationally. It sets SMART objectives for the company's expansion and outlines an international marketing strategy. The report concludes with a summary of the findings and recommendations for Hasty Tasty's successful market entry into the USA.
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Table of Contents
INTRODUCTION...............................................................................................................1
TASK 1...............................................................................................................................1
PESTLE Analysis...............................................................................................................1
Marketing Strategy...........................................................................................................8
Examine the opportunities within the country in context with selected organisation...10
Product modification in the different terms like promotion, price and distribution
decisions along with the challenges in order to expand business globally.................12
Key challenges while expanding the business at international level...........................13
SMART Objectives.......................................................................................................14
International Marketing Strategy..................................................................................15
CONCLUSION.................................................................................................................19
REFERENCES..................................................................................................................1
Books & Journals...........................................................................................................1
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INTRODUCTION
International marketing refers to a method where companies satisfy various
requirements and demands of individuals residing in different countries across the
border. It refers to a multinational process which includes planning as well as executing
various concepts which consist of price, distribution of products and services and
promotion in order to satisfy goods and services of a person or whole country
(Morschett, Schramm-Klein and Zentes, 2015). In the present report a UK based Small
and Medium Enterprise (SMEs) which is Hasty Tasty and selling pizza in UK and
decides to expand its business by selling its products and services in the market of
USA. In order to made this expansion, company need to evaluate the current market
situation so that they can effectively perform their functions in order to make probability
and positive brand image of the company. For this, PESTEL as well as SWOT analysis
is going to be conducted by the management team of company.
TASK 1
As per the mentioned scenario, it has been said that it is required to examine the
business environment for expanding the operations and activities of the chosen
company. In this report, Hasty Tasty is chosen as the base company which is located in
UK and wants to expand its business operations in USA with the product which is Pizza.
In order to evaluate the market conditions, managers of organisation used PESTLE
analysis which are as follows:
PESTLE Analysis
Hasty tasty is mainly deals in pizzas and many other snacks and attract ample
number of customers towards their company. Stores of Hasty Tasty is mainly located in
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industrial area, colleges and offices where more individuals will be attracted towards the
products and services offered by them. There are many factors which affect the
performance of Hasty Tasty while expanding its business in the market of USA (Kotler
and et. al., 2018). These factors are political, economical, social, technological, legal
and environmental. All these elements are going to be discussed in detail as follows:
Political: There are many political factors like taxation, competitors who are
working with same quality and quantity in pizza world. Industry related with service
sector, pricing regulation like price should be high or constant according to the demand
of customers or on the basis of level of competition, level of cooperation in service
sector, legal framework of organisation, trade regulation and traffic issue relate to
services. All these factors largely affect the working functions of the chosen organisation
which is Hasty Tasty. Therefore, it is necessary for them to deal with these factors in an
effective manner and produce positive outcomes (Skarmeas, Zeriti and Baltas, 2016).
Along with this there are some positive as well as negative impact of political factor on
the organization who wants to expand its business operations at international
marketplace.
Positive impact: As this factor involves in the different kind of taxation laws and
legal rules and regulation which is very helpful for this selected organisation in order to
expand their business in USA. With the help of this they can face any kind of
competition within the market and able to grab future opportunities. Along with this,
company can enhance their efficiency, performance and profitability and maintain their
position at the competitive marketplace.
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Negative impact: Due to the changing policies within the environment, food
organisation can get affected by the different rules and regulations of USA government
in a negative manner. Therefore, it can be reduce the higher profit within the firm. In
addition to this, different kind of political factors have their own impacts which highly
affects the performance of small and medium enterprise.
Economical: It is the factor which includes inflation as well as interest rate,
labour cost, employment rate, economic condition of the country. According to the
second element of PESTLE analysis, economic condition of the company is very strong
in order to expand their business operations. In addition to this, it has also been
examined that US is the country which is highly educated and conscious towards their
health. Fast food culture within the country is not so popular as people living in USA are
more focused on healthy and fresh food (Mathews and et.al., 2016). Therefore, in the
present context of Hasty Tasty it is very necessary for the company to keep all these
things in their mind, while producing goods and services and expanding their business
at USA market. Along with this, company need to manufacture healthy and fresh food
according to the requirements of health conscious people. There are some positive as
well as negative impact of economical condition which largely influence the working
culture of the chosen company.
Positive impact: According to the current economic condition of the country,
while expanding business operations of Hasty Tasty company get benefits. As USA is
having strong economic condition. It will positively affect the profitability of organisation
at the marketplace. With the help of effective economic condition of the country,
company will be able to earn high return on their investment.
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Negative impact: On the other hand, negative impact of this above factor
indicates that present business organisation required to follow effective tools as per the
present environment within the USA (Martin and Javalgi, 2016). Basically company
needs to be aware with current economic position of the workplace so that employees
can get benefited otherwise company can lose their people if they will not proper cost
and salary package to their workers.
Social: Social culture of an organisation like what is working culture of hasty
tasty. Attitude of the population and social plan play an important role like what is
demanding market of hasty tasty. Class structure and power society in the society is
more effected on organisation. attitude of the customer like some customer are to much
foodie they like pizzas but some are diet conscious so they cant take pizza on regular
basis and some are too much health conscious they can't eat pizza and all snakes. So
these are some attitude which accrues as a problem (Lovelock and Patterson, 2015).
Hasty tasty should deal with all problems. Some culture are also effect them like gender
roles and social conventions etc. education sector like education level as well as
education standard in the hasty tasty industry. This is nature of society like some
societies encourage entrepreneurship and some don't. So it is also accrue like a major
issue. Other customers are leisure interests. So it can say that social factors get
effected the prod fit of organisation and hasty tasty should deal with the all these
problems with a batter isolation. It is important for devel0opment of hasty tasty.
Positive impact: As per the above discussion social factor involves in the
different kinds of belief, norms, values and different activities, so that selected
organisation can maximise their profit by using proper innovative things in their food. On
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the basis of this, they can easily expand their business in USA. In order to more
improvements they need to bring good values and required to change few function so
that it influence people positively in an appropriate manner.
Negative impact: In this factor of negativity company have to face lots of laws
and rules within the USA just because people have several kind of taste and
preferences and culture even (Baker and Saren, eds., 2016). Therefore, Hasty Tasty
need to follow corporate social responsibility in order to launch their product with lots of
effectiveness within the environment.
Technological: Technology is important factor for an industry. In last few yeas
mostly industries depends on technology. technology development is also increase the
product requirement but there are some factors which effect the organisation and those
are like impact of cost stricture, if the price of pizza is higher than other competitor than
customer take that products (Souchon and et. al., 2016). Rate of technological diffusion
is also get effect organisations. There are impact of value chain stricture in services
sector. So in all this manner it can say that technology impact on what the product hast
tasty organisation offering. There are various other factors related to existence,
availability and development of technology which effect an organisation most. This
factor can reduce by taking risk, opportunity and threat on business. Hasty tasty should
deal with all these factors because these are barrier in business and cant earn more
profit. Through finding a batter solution hasty tasty can deal with all these projects.
Positive impact: As it is the positive scenario of this factor, it will helps a lot to
Hasty Tasty, by using this term they can make their business effective and attractive in
front of the other people. On the basis of this criteria they can apply and adopt unique
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things within the competitive world. By this employees can get motivated in front of the
others. By using innovative technologies company can make their lots of customer's and
able to gain so many opportunities for future within the USA market (Christodoulides,
Cadogan and Veloutsou, 2015).
Negative impact: According to this point of view company can get influenced in
the negative way, because if they will not follow the proper techniques and technologies
than they will not able to attract their customers from the new technologies that's why it
can be negative impact on the society of USA. For improving themselves they are
needed to have effective and proper good impact on the people by using good
technologies in an appropriate manner.
Legal: Under the legal factor of PESTLE analysis, all the laws and regulations
are included in this. It is very necessary for the company to follow rules formulated by
government of country. Each and every country have their own rules and regulation
which is very essential for every organisation to follow them effectively and properly
(Alserhan, 2017). In case of Hasty Tasty, if the company wants to expand its business
operations at the marketplace of USA, it is important for them to follow all rules and
regulations develop by the government of that country. Legal regulation includes various
laws which is formulated in order to protect the rights of employees as well as for the
safety of customers. USA have very strong legal system which aid their citizens and
other business organisations in order to protect their intellectual property right. In
addition to this, country upholds fair and equal treatment to the international as well as
domestic business enterprises. In context of Hasty Tasty which is a UK based company
its management team wants to expand their business operations in the market of USA.
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Therefore, it is very essential for them to follow all rules and regulations effectively, so
that they gain positive advantages at the new marketplace. There are both positive and
negative aspects of this factor (Bowie and et. al., 2016).
Positive impact: It has been said that, there are some rules develop by
government of USA which will aid the company of UK while expanding their business
functions. With the help of effective and fair rules and regulations, they will be able to
attract large number of business organisation towards their economy. Similarly,
management team of Hasty Tasty get opportunities to perform their task effectively and
gain competitive advantages.
Negative impact: According to this, some times companies are not able to gain
their main targets and achievements due to the lack of knowledge about new laws and
legislations, that's why it influence people in a negative manner and as per this they are
not able to fulfil customer's demand at the right time (Bianchi and Mathews, S., 2016).
Therefore, Hasty Tasty required to make effective rules and regulations so that they
can easily gain their goals and objectives in a proper manner. Apart from this if this
chosen organisation will follow the law and legislation of UK government than they can
face their competitors and able to increase their future growth so that this sort of
concept can reduce negativity from this.
Environmental: Environmental factors affect the environment of an organisation.
Environmental factors are classified into two parts and these are like internal factors and
external factor. there are some internal factors and those are leadership is directly
related to organisation growth, communication is also important because by a good
communication skills the employee of hasty tasty promoter this product well and it is
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important for an organisation, organizational structure is also get effect on the
organisation growth. External factors also effect the organisation through social,
economical and technological factors (Richter, N.F. and et. al., 2016). These factors are
works in broad Ares. there are many cases where a leader learn and communicated
with the organisation very well but these factors affect on that. There all factors create
many problems. So hasty tasty company should find a batter solution and increase its
growth of organisation. This is important sector of all this.
Positive impact: According to the above factor this can be said that environment
is the effective factor of every company so that it can be easily impact on the people of
USA country. If company will follow proper external factors of the USA then they can
make better plan to expand their business and achieve proper goals in a proper way
(Tan, Q. and Sousa, C.M., 2015).
Negative impact: According to this factor, this can be said that some times
company is not able to see all of the external area than they faces lots of difficulties
within the competitive business environment that heavily impact on the people in a
negative manner.
As per the above report, with the help of PESTLE analysis, Hasty Tasty examine
the current market situations and circumstances. Along with this, it will aid the company
in order to expand its business operations at the competitive marketplace and perform
effectively according to the market conditions.
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Marketing Strategy
Marketing strategy is a strategy for business where all the aware people who
known about the organisation convert them into customer. Organisation want to make a
habit of its products for product development. Marketing strategy is designed by proper
formate where they mastication all the strategy like what is plan, a particular activity
consume how much time and what is the cost of that project, how much profit can earn
by this particular project (Katsikeas, C. S. and et. al., 2016). So all these plans are
necessary for implementation of a particular project. These all plans are important for
growth of an organisation.
Segmentation, targeting and positioning-
Segmentation, targeting, and positioning is a approach in marketing strategy.
This process is mostly using for specific target market where an organisation can target
there market in particular segmentation. this process is also uses for achieving a target
and implementation on that specific poisation. It helps the organisation for maximization
there profit. brief discussion of all these approaches are-
segmentation-
segmentation is kind of deviation of its customers according to their
characteristics, income, personality and their behaviour. Segmentation is basically
deviated into four parts and these are as geographical, demographics, psycho graphic
and behavioural (Skudiene, Auruskeviciene and Sukeviciute, 2015). So geographical
segmentation is like deviation of customers according to p;population, climate, areas,
countries, cities and villages. Behavioural segmentation n is depends on the loyalty to
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the brand, frequently uses of products etc. these both segmentation are important for
hasty tasty organisation. They take pizza frequently for taste and using it as a status.
Targeting-
Targeting strategy is an important strategy of marketing. In this an organisation
target a particular market according to their age group, demand in the market, habit of
customer, money, other benefits,criteria size and many other things. these particular
things which help the organisation to factious on that to earn more profit and for explore
business (De Mooij, 2018). Mainly in this approach hasty tasty organisation facuse on
the age group and income of the customer. Kids and adults likes pizza rather than
another things. This by they are focusing on age group. income also effect all these
things because rich people mostly invest in this.
Positioning-
positioning is the last step of STP process. Main purpose of positioning is to
promote a product in a particular sector of market. this is a very important concepts of
marketing strategy. Promotion of a product is necessary for the organisation because
through this promotion activity mostly organisation introduce their product to the market.
so this positioning strategy is depends on these things like the need of the
customer,perception of the customer, price of the product also effect because if price is
re-enable than all type of customer can buy this but the price of the product is soi high
than they cant buy that project, quality of the particulate product, convenience for the
customer by products, which kind of customer services are provided by the organisation
to there loyal customers (Kerrigan, 2017). This positioning is important because market
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research says that through the positioning strategy mostly people consume new
products.
TASK 2
Examine the opportunities within the country in context with selected organisation.
In order to expand business in different countries than any organisation needs to
understand their norms, values and nature so that they can expand their business but
some times they are also needed to follow effective laws which is given by the another
country. With the help of this they are not allow to face any challenges and can expand
their business in an effective manner (Rowley, 2016). That's why this is very important
for company's to know every condition of market in an appropriate manner. In reference
to the, Hasty Tasty organisation, as they are expending their business in USA with the
product of Pizza as they have small medium business but they are required to select
kind of place in which they can achieve their higher profits in an appropriate manner.
There are some future opportunities in USA in reference with Hasty Tasty organisation,
those are listed below:
Concentrate on their core product: According to this the owner of this
business needs to build up strong relationship with people of USA so that they can like
their food and able to increase company's value in an effective manner. Therefore, this
is the very good option to increase business with the effective product as Pizza and it
can be the huge opportunity for Hasty Tasty restaurants (Brouthers, Nakos and
Dimitratos, 2015).
Stay true: With the help of this statement they can get better opportunities
because when the people of USA are able to know this Hasty Tasty restaurant than
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they can achieve their goals in a proper way. By using this valuable term they can make
better restaurant in front of other people in an appropriate manner.
Proper utilization of marketing resources: When this selected restaurant
follow the strategies of USA than they can easily expand their business and able to
achieve better crowd with in the working place in an appropriate manner. Therefore, it is
necessary for them to use proper utilization of their resources in order to make their
business attractive in fron of the people along with this they can bring effective and
innovative taste in Pizza so that people can influence in an positive manner. That's why
it is necessary to grab future opportunities in a systematic way (Dwivedi, Kapoor and
Chen, 2015).
As per the above discussion this can be said that Hasty Tasty restaurant can
easily achieve their goals and objectives by using effective tools and techniques with
the help of this they can achieve more opportunities within the market of USA, so that it
will be beneficial for them to expand their business in a proper manner.
Product modification in the different terms like promotion, price and distribution
decisions along with the challenges in order to expand business globally.
In order to expand business at international level it has been recommended for
Hasty Tasty restaurant that they should more consider on their Pizza making process in
order to gain future goals in an appropriate manner. According to this restaurant as they
are doing well in order to expand their business in USA so that they are required to
focus on the different things like price, promotion and different strategies in a perfect
way. With the help of this they can make proper ways to achieve their organisational
goals in the USA (Schmid, Grosche and Mayrhofer, 2016). It will also influence people
of that country so that they can fulfil their target easily. Therefore, this business
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enterprises needs to more develop their pricing strategy so that they can give pizza with
affordable price by which people can get influence in an effective manner. Along with
this they are needed to follow effective promotional strategies by which people can get
awareness about the product of Hasty and tasty restaurant so that people of USA can
easily enjoy their food in an appropriate manner. In order to promote business
strategies this restaurant will use TV., newspaper, magazine and social media for
gaining customers attention towards the product. Therefore, this is necessary for
achieving proper goals and if they will up to date with new technologies than they can
make lots of customers in an appropriate manner (Armstrong And et. al., 2018).
Key challenges while expanding the business at international level
Analyzing the actual market requirements: In order to make effective and
successful business Hasty Tasty restaurant is needed to have proper resources in
relation with the food manufacturing process so that they can easily fulfill customer's
needs in a proper way. Therefore, it can be a challenge for them so that they follow
rules in USA to make effectiveness in front of country's people. That's why it is
necessary to make proper plan and strategies in order to make effective decision for
better future. So that they can face challenges in order to expansion of their business
(Gnizy, 2016).
Financial crises: According to this, selected restaurant has to face many
challenges but this is one of the huge challenge so that it is difficult to expand business
in international level. Therefore, owner of that business is needed to focus on their
growth strategies so that they can make effective control on their financial activities in
order to make proper position within the USA. For expanding business in USA they
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always focused on one thing that is they should keep sufficient fund in order to fulfill
customer's needs appropriately.
Great enterprise culture: Culture is very much effective thing as well as
important it is. With the help of this company can make proper customers in order to
achieve their goals in an effective manner. But somewhere, they faces many challenges
in culture as well because if lots of people will be their so that how could they control the
risk so that they are needed to make proper decision and strategies in order to make
good environment in the restaurant and it also affects people in a positive way.
Keeping up with market changes: As this selected restaurant going to be
expand their business in the USA then they always need to follow their culture and
environment so that they can make their huge customers (Sousa and Tan, 2015). But if
they are not follow these kind of culture than they can lost their customers and will face
different types of uncertainty within the working place. Therefore, it is necessary to have
proper awareness of marketing changes and make effective values.
Responding to competition: This sort of problems can be happen anytime
while expanding the business at international level. In reference to the present
restaurant, they can face different kinds of things like when they will entered in the new
country for expanding their market growth then it can be possible that any other firm can
also come and bring place effectively. In order to improving this type of situation they
are applicable to follow unique ways to grab future goals and opportunities in an
effective manner (Gupta, S. and et. al.., 2016).
Therefore, this can be said that in the business context there are different kinds
of challenges in order to expand business in the country of USA. In reference to the
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Hasty Tasty restaurant, they has to face different kind of challenges so that now they
are needed to make proper and effective decision and policies by which they can make
their potential customers and able to achieve their goals and objectives in a proper way.
Therefore, it is necessary as it helps companies to attain their vision in order to gain
competitive advantages, so that it also helps company as influencing the population
growth of USA in a proper manner.
SMART Objectives
The goals provide direction towards achieving them effectively and efficiently.
The acronym SMART is defined as Specific, Measurable, Attainable, Realistic and Time
bound which helps to formulate and understand goals properly by optimum utilisation of
resources. Therefore, Smart goals must be framed in precise and specific way as this
helps in describing observable action for everyone. In context of Hasty Tasty the
managers can develop their goals with the help of SMART objectives model as this
helps in proper formulation of goals as per specifications. As company is planning for
expansion in USA markets so all important global business environment need to be
considered with the help of PESTLE analysis. Therefore, international marketing
objectives for Hasty Tasty are listed down below:-
To increase 10% sales in international market within 1 year.
To acquire more than 50000 new online customers in USA within 10 months.
To enhance product knowledge among customers so as to maximise customer
satisfaction up-to 85% within 3rd quarter.
To reduce staff absenteeism by 50% within 6 months.
The above mentioned objectives are developed as per SMART objectives model.
Further this will help Hasty Tasty to achieve good position in international market and
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attract & retain large number of customers for longer period of time. Also, this will help
to increase profitability and increase in sales in good terms.
International Marketing Strategy
International marketing strategy is defined as implementation of marketing
principles which aim to satisfy different needs and wants of distinct people living in
different parts of world. This is mainly concerned with undertaking marketing activities in
more than one country. This is also concerned with product development, market
research, and management and monitoring of market. For the preparation and
development of international marketing strategies organisations require huge amount of
investment in terms of money, resources, local traditions, culture, manners and country.
The effective international marketing strategy will help to achieve economies of scale,
increased returns, enhanced market growth and help to face cut throat competition.
There are many global marketing strategies which can be beneficial for organisation at
the time of expansion of their business at global level. Therefore some of international
marketing strategies which can be applied by managers of Hasty Tasty for
accomplishment of objectives and goals in precise manner which are been discussed
below:-
Advertisements- This is most powerful tool in marketing that helps to achieve
the target of increasing sales by advertising products through various means of
advertisement tools. Some of advertisement tools that can be used by Hasty
Tasty for expansion in USA markets can be social media platforms, paid
advertisements, rolling billboards, personal selling and TV advertisements.
Further, company can run contest for customers sharing Hasty Nasty brand
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among customers with their friends and family. This tool will help to increase
sales of Pizza by 10% in effective manner within 1 year.
B2B Marketing- This is tactic which is applied in various business organisations
as this helps to spread information regarding products of Hasty nasty among
large number of individuals and organisations. Also, allow to sell their product to
other commercial businesses and institutions in USA market with the motive to
increase their sales.
Price Promotions- The best way to make product and brand popular among
customer's is by the help of putting up various promotions. The company can
either provide their products in sale or sell their products in combos at discounted
prices. The manager of Hasty Nasty in USA market offers their products on trail
or couple their products with freebie if they buy pizzas at particular price. Along
with this, managers of the company need to provide various offers and discounts
to their customers in order to attract large number of individuals towards their
products.
Make use of Trade shows- There are many product varieties that customer's
don't buy until they taste or use it by themselves especially food products. So
Hasty nasty carry trade shows in malls and streets of markets of USA as this will
help to attract more and more customer's which will in turn help in increasing
number of customer's for Hasty Nasty. Also, this will lead to increase in
profitability and market share.
Understand the cultural differences- When companies plan for expansion of
business at international level than the managers of company must gather and
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collect knowledge about culture and religion of country. In context of Hasty Tasty
the managers of company are required to analyse customers needs and
expectations as their beiliefs, religion, tradition, values and norms as this will help
them to prepare pizzas according their culture and provide customers with
maximum satisfaction. If the company produce goods and services according to
the requirements of their local customers they will get success at the new
marketplace. With this they will be able to achieve their targets and desire goals
and objectives.
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Tie-up with local market who understands the local market- There are many
countries where mass media, advertising and marketing expenses will not
provide good benefits to company so, to make business successful in
international markets like USA there can be either merger or tie-ups with local
companies or market for short term which will help to collect information about
market and capture market share at fast speed. Therefore a good understanding
of local market is major factor for long term success and profitability. For instance
Hasty Tasty can go for this method or strategy as this will help in making
business successful with sustainable business growth. The managers of Hasty
Tasty can go for joint venture, tie-ups, merger with local markets which have
adequate knowledge to get increased return on investment.
Plan for Global Campaign- Once Company launch its products in international
market than managers can go for global market campaign. They can plan for
creative and innovative media planning, advertising and promotional activities in
association with international marketing team as they have proper and complete
knowledge about international market. These campaigns must be effective that
they not only emphasis on increasing sales but also focus on increasing sales.
The managers of Hasty Tasty can utilise social media platforms, web based
advertising, paid advertising for promoting and creating awareness among
customers for pizzas of Hasty Tasty also, this must focus on increasing
awareness level among customers for innovative and tasty pizzas alogn with
attractive offers and discounts which will help in increasing both online and offline
customers.
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CONCLUSION
From the above mentioned report it has been concluded that international
marketing is a process in which organizations promote it’s products and services in an
effective manner at global level. In this report, various factors are included which affects
the performance and profitability of the company while expanding its business
operations. In the present report various elements are determined which includes Pestle
analysis, STP approach and smart objective. With the help of Pestle analysis, managers
of the company will be able to examine the current market situations of the country
while expanding its business operations at international marketplace. Along with this,
STP approach helps in segmenting, targeting and positioning of the products offered by
the company. With the aid of STP Approach management team get to know where,
how, when and to whom they need to sell their products. Therefore, it will enhance the
profitability as well as brand image of the company at international marketplace. Apart
from this, a marketing strategy along with smart objective is also developed by the
managers of company in order to set their targets for attaining growth at competitive
marketplace.
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REFERENCES
Books & Journals
Kotler, P. and et. al., , 2018. Marketing management: an Asian perspective. Pearson.
Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. Strategic international
management (pp. 978-3658078836). Springer.
Skarmeas, D., Zeriti, A. and Baltas, G., 2016. Relationship value: Drivers and outcomes
in international marketing channels. Journal of international marketing. 24(1).
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