International Marketing Report: Strategies for Ocado's Global Growth

This report analyzes the international marketing strategies for Ocado, an online supermarket based in the UK, with a focus on potential expansion into the Swiss market. The report begins by defining international marketing and key concepts such as domestic, export, and global marketing, highlighting the scope of international marketing and its benefits for companies like Ocado. It then provides a rationale for Ocado's international expansion, discussing opportunities and challenges, especially in the Swiss market. The report then delves into market entry strategies, including import/export, joint ventures, and licensing, recommending a joint venture and licensing approach for Ocado's entry into Switzerland. It explores direct and indirect entry routes, suggesting distributorship as a suitable option. The report also examines the differences in product, pricing, promotion, and distribution strategies across various international marketing approaches. It also contains recommendations for Ocado to maximize its opportunities in the international market.

INTERNATIONAL MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
Analyse the Scope and key concepts of International Marketing..........................................1
LO 2.................................................................................................................................................4
Evaluate entry to a selection of international Markets and define the key success factors....4
Difference between global and local marketing.....................................................................8
LO 3.................................................................................................................................................9
How product, pricing, promotional and distribution is different various internation marketing
approaches used by companies...............................................................................................9
LO 4...............................................................................................................................................11
Different marketing approaches company can adopt...........................................................11
CONCLUSION..............................................................................................................................13
REFERENCES ................................................................................RECOMMENDATIONS on14

RECOMMENDATIONS onINTRODUCTION
International marketing is an application of marketing which focuses on satisfying the
needs and demands of the customer but in the foreign country (Armstrong and et. al., 2015).
Only difference between domestic and internal marketing is that in latter part, all the marketing
activities are done for the people who resides in other country. For this report, Ocado is taken for
discussion which is a online supermarket chain and has headquarter in Hertfordshire UK.
Rationale would be provided for the company that why they should enter in to international
market by describing its entry barriers. Different strategies would be elaborated which company
could use to enter into international market will be explained. Various elements of marketing
plan will be discussed and how organisation can adapt it will be given below. At last,
recommendation and suggestions will be provided so that company can maximize its opportunity
would be explained.
LO 1
Analyse the ScopCommunication and caree and key concepts of International Marketing
Ocado is English online supermarket whose focus is on home delivery high quality
products like, drinks, foods and household goods. Firm has no chain of stores and does all
delivery of products to it's customers from it's warehouse. The CEO of the organization is Tim
Steiner and was founded on April 2000. This company is located in United Kingdom, Hatfield
and the revenue generation is 159 million GBP (2018). Here are some of the food items firm is
dealing in Ocado gold sliced Pancetta, Ocado Flat Leaf parsley, Ocado Original Blend Coffe etc.
The online site on the firm is ocado.com (Rosson and Ford, 2016).
International Marketing- International marketing a process of planning and
execution of elements which is related with the products and services like price, product, place
etc in the foreign company with the aim of satisfying needs and demands in exchange of
monetary value (Morschett, Schramm-Klein and Zentes, 2015). In other words, it can be said that
it is a expansion of business in the foreign countries so that more market and customers share
would be attracted to them. For instance, if Ocado starts providing their services in the new
market then their revenue will automatically increased as new customers will be added in their
portfolio of customer.
1

Key Concepts of International marketing
There are various concepts of international marketing which is explained below with
functional example,
 Domestic Marketing: Main focus of this concept is to target the customer which is in the
same country as company. Domestic organisation only operates their business in the
specific territory and after they reach their saturation point, company starts diversified
their product range so that continuous flow of revenue would be attain by them. For
instance, Ocado follows domestic marketing as their operations of work is limited within
the UK only.
 Export marketing: This is the phase in which company starts grounding their operations
in the foreign country with the aim of enhancing customer share in the future.
Organisation uses this step when they are getting high demand from the foreign countries.
For instance, if Ocado is planning to export their product in to other market then they
should deal with the local companies of that country or agents as without it it would not
be possible for them to sell it.
 Global marketing: It is a tactic used by the companies to reach their potential customers
in foreign countries. Main motto of the organisation is to make the strategies according to
the country where they are operating as each have different buying behaviour, culture and
beliefs etc (Basic Global Marketing Concepts, 2018). For instance, their will be vast
different between the marketing strategies of Ocado in UK and in Switzerland as both
have different behaviours which directly impact the strategies of company.
Scope of international marketing is given below,
 International marketing assist company to enter into territory which they have never been
which results in new customers for the product and services they offered. For instance, if
Ocado enters into other territory then there will be potential customers who are already
buying their products from other competitors or visiting shops physically to buy it. So by
providing them lower price or high quality products, they would be attracted towards
Ocado which will leads to higher sales in the future.
 Internal marketing will help Ocado to get more new customers into new country where
which ends up in enhancing sales of the product and service thus higher profitability in
2

future. . As mentioned above, if higher sales is attain by Ocado then revenue of the
company will automatically increased which leads to higher profitability in future.
 Marketing assist company to get new customer in the market which ends up in increasing
brand name in the mind of potential customers. For example, after entering in to foreign
country, Ocado will spend their funds in marketing their products and brand in the market
by advertising, promotion, sales promotions, CSR activities etc. All these factors will
assist Ocado to enhance their brand awareness in the market as by seeing the
advertisement, customers would be aware about the brand.
Rational
Today business has so many opportunities that can provide them many advantages to
grow fast and move from one place to another that can help them to explore new markets some
purpose which is discussed below why company should go internationally.
 If a company business is growing successfully in domestic market, then they should try to
expand themselves into international market. First it increase the revenue of a business by
increasing the sell of their products and with these the value, quality, and price of there
products is also increased.
 If a business have to face recession or there is low sale of their products in domestic
market because of any economic issue than they should earn profits by exporting their
products.
 When a business expand themselves internationally they learn many more things like
innovation because the demand of products is not similar between two countries so they
should innovate their products as per demand of international customer.
 Last reason is that when a business expand themselves for the international market at
that time they gain the competitive advantage and other fact is that if a competitive
company is entered in home market of other company then they should find solution to
defence their home market.
Opportunities Challenges
Ocado has large number of customers in
Switzerland as there are few companies which
are operating in this industry. So company has
Switzerland has many big players in the market
which are also doing the same business as
Ocado like Farmy.ch, LeShop.ch, Swiss Rasoi
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the chances of enhancing sales and profitability
to a certain level. To attain this, marketing
activities should be plan according to the needs
and demands of the potential customer.
etc. So company has to make their strategies in
respect of the competitors and the environment
as then only strategies would become effective
and efficient.
By using the Brand image, Ocado can diversity
their products in to Switzerland market with
the aim of getting higher ROI from it. By
diversifying the product, customers from
different sector would also attracted towards
Ocado which leads to higher sales and revenue
for the company.
As Brexit is on the verge, Ocado has to change
their rules and regulations while entering in to
Switzerland which could affect their
performance in a negative way. For instance,
Ocado has to modify their import and export
rules, or hiring of people which could be risky
in nature if does not implement properly.
LO 2
Evaluate entry to a selection of international Markets and define the key success factors
International marketing makes a favourable impact in the performance of the company if
strategies opted by them is according to internal as well as external market (Demangeot,
Broderick and Craig, 2015). Various ways through which Ocado can opt to enter in to
Switzerland is given below,
 Import and Export: It is way of entering in to foreign countries by start selling their
products through agents or companies. In export, companies sell their product oversees so
that more revenue would be generated for the company. On the other hand, import refers
to when foreign companies products are sell in to their homeland according to the
demand of potential customers.
 Joint Venture: It is an collaborative approach in which more than two companies comes
together to sell specific product with the aim of satisfying the needs of customer.
Sometimes, collaboration often provide new company in the market while considering
the mission and vision of both the organisation.
 Full Owned Manufacturing: If any organisation has long term strategies related to the
country they are visiting then full owned manufacturing is one of the favourable way of
doing so as whole profit goes in the balance sheet of company which they does not have
to share with (Kotler and et. al., 2015). But on the other side, there are various factors
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which must be considered by them like trade barriers, cost of production, rules and
regulations, government stability etc.
 Alliances: Licensing is also one of the effective way which is used by companies to enter
in to market. Partnership with other companies or providing licensing to local companies
is a way of expanding business operations. The one leases their rights are known as
licensor and those who gets it is known as licensee.
So it can be said that Ocado should use Joint venture as well as Licensing to enter in to
Switzerland market as company has start growing their operations in the UK market as it is not
possible for them to invest that much of amount for internal marketing.
Different type of entry routes which Ocado can opt is given below with functional examples of
it,
 Direct route: It is a type of approach in which enterprise comes directly in contact with
the potential customer. There are various ways through which direct could be achieve like
face to face selling in which seller is appointed by the company and then they have to sell
their product by meeting customers in person. Other technique is online selling in which
company sell their product through online platform. Main motto of this approach is meet
the customer in person so that customer engagement experience would enhance to a
certain level which will leads to better profitability in the future.
 Indirect route: It refers to approach in which company sell their products with the help of
middleman. Advantages of using this approach is that it will enhance Ocado sales to a
certain level beside this, expansion of target would also achieve with this approach.
Various techniques comes under this is retailers, distributors etc. Distributors are those
who supplies company's product to the retailers and agents so that they can perform their
work accordingly. For instance, wholesalers comes under this whose work is to buy the
product from the company directly and then distribute in the territory according to the
requirements. Other is retailer who has small shops in the area and sell products in retail
with the aim of satisfying customers demands.
Ocado should opt distributorship while entering in to new market as they have proper
knowledge about the market due to which it would be easier for them to identify the needs and
demands of customer accordingly. In context with Ocado, business firm is required to do
analysis of all of the suitable option and select one, on a basis of prevention of the cost
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consumption and less impact on pricing ratio to build profitability at a productive stage. This is
necessary to develop planning process in order to enhance operations of the Ocado in success of
business accomplishment or defined objectives.
Key criteria and selection process of international market
It is important for foreign companies to choose entering countries according to the
strengths and weakness they already has as success factor is directly linked with that only.
Selection process which could be used by Ocado is explained below,
 Marketing Objective: Before internalising business operations, company first analyse
their objectives and how it is matched with the foreign country. Reason behind
conducting this is to find out the actions of organisation with company's mission and
vision. For instance, if Ocado objective is to capture half of European union with their
products then Switzerland would be the favourable option for them.
 Selection method: Various aspects which must be check by Ocado before starting their
business is infrastructure for their warehouse, internet speed as whole company is
operates through internet only, labour and skilful candidates for jobs, availability of auto
mobile for delivery, inflation rate etc. All these factors must be analyse by them as it is
directly linked with the performance and profitability of company.
 Screening: In this phase, various opportunities and threats which could affect their
business in a positive or negative way is identified. For instance, number of customer,
competitors list, disposable income, economic conditions, per capita income etc.
 Analysis and selection: After collection all the information which is important for
company, analysis is done by using different mathematical formulas and software so that
future related to Ocado would be predicted. Various mathematical formulas like time
series regressions, cost analysis, linear regressions, feasibility study etc is used by
company to predict their future. All the countries which company is planning to get into
is ranked according to these factors and one who gets the higher number will be
favourable and suitable for Ocado to enter.
 Marketing test: It is the initial phase in which company launches their beta version of
services to check the particular segment. This phase is important because if company fails
then they opt for quitting the international marketing instead of investing more into it. For
instance, Ocado will launch their online supermarket business and check the number of
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order they are getting for a shorter period of time. If they succeeded then Ocado will
carry their business operations and if they did not then they will opt for other strategic
options (International Market Selection Process, 2019).
 Production: This is the last stage in which company starts their operation if they succeed
in the initial phase of the selection process.
Criteria of selection
 Environmental analysis: It includes various aspects like political, sociological,
technological, legal etc. All these factor should be considered by Ocado before entering
in to foreign country as it is linked with the profitability of the company. For instance, if
there are high tax rate in the country then it will affect negatively as profit would be
reduced to a certain level (The main criteria for selecting international markets, 2019).
 Analysis of competition: In this criteria, number of competition in the market and their
pricing strategies is analysed as visiting companies have to set their strategies
accordingly. For instance, if competitive company is selling their product in low prices
with the aim of getting high customers then Ocado should make their strategies
accordingly as then only it would be possible for them to succeed in the market.
 Demand generation: It is related with the demand the product has in the market in the
current scenario and what will be the future prediction of the industry in the country. For
instance, in Switzerland there is only 2% share of the food retail sector in the overall e-
commerce industry. So it depicts that Switzerland market is still untapped in nature and
has favourable future for the companies like Ocado (TRENDS IN E-COMMERCE:
SWITZERLAND, 2019)
Marketing entry strategy with advantages and disadvantage
Export route can be opted by Ocado as their work is to sell the grocery over internet so
that local customers does not have to physically visit stores. There are various advantages of this
like low cost of investment is required to start their business which implies higher rate of return
to the company. On the other hand, lack of consumer buying behaviour will affect their sales as
organisation is not physically present. So it wont be possible for them to sell their product from
UK as various taxes which company is legally to pay will increase the cost of the product due to
which they can not compete with companies like LeShop.ch.
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Joint venture can be used for instance if Ocado has planned to enter into Switzerland then
they should find out the local partner and makes association with them. As it assist them to
identity circumstances of country where Ocado is planning to enter. It assist Ocado to reduce
their burden of investment as it is done according to the equity shared between the partners. It
provides proper access to the potential market, new technology which could assist them to
improve their quality and quantity etc. For instance, if Ocado is doing JV with local companies
of Switzerland then both will invest the same amount of money in the starting and losses and
profits are disseminate accordingly. Moreover, technology will be shared among the partners due
to which chances of enhancing performance would increase to a certain level. On the other hand,
conflicts between partners may arise as both have different vision which they have to attain with
the help of JV. Along with this, JV is for a shorter period of time so it becomes hard for visitor
company to make their brand identity or awareness in the mind of customer.
Other way is full owned manufacturing, for instance, if Ocado planned to enter into other
country then they would start their own warehouse in that place. Besides this full time employees
have to hire by them who will manage the IT functions of Ocado. Pros behind using this is that
Ocado has then the full power of handling the operations of business which can make a positive
impact on company's performance. Moreover, all the decision taken by them would be fast as
they does not have to ask other partners opinions while doing it. On different side, high cost of
investment would be required which is not possible for companies like Ocado as it is a local
company of UK. Plus, chances of getting success is lower as organisation first have to conduct
market research for the market which incurs time and cost (Advantages & Disadvantages of a
Wholly Owned Subsidiary, 2019)
Ocado can sell their selling rights which includes company name, trademark, logo, brand
name etc to the local company so that they can start their own of business of selling of grocery
over internet. In return, Ocado gets the royalty amount with sum percentage of profits of the
licensee. It is a easy way of entering as no or less investment is required to accomplish this task.
Besides this, Ocado will get the amount without doing any thing which ends up at enhancing
profitability of a company. But if the brand image hampered in a negative way due to which
licensee then it will also have a unfavourable impact in the working of the licensor (Modes of
Entry, 2019).
8

According to the rmstrong and et. al., (2015) For Ocado, this is majorly prominent to do
critical analysis of market in which they are operating and what are their major preferences while
in the case of business operation. Ocado must do analysis of their environment in which they are
operating and also how they can go for longer period of time. Ocado must do analysis of strength
and weakness of their current business operation to develop strategic planning which consists of
the structure of the market, establishes the customer base to develop opportunities for Ocado to
expand their business operations for accomplishing productive goals or objectives.
Conclusion and recommendation
It can be said that company should properly opt entry modes and routes as most of the
business performance is based on this factor only. Moreover, country where company is planning
to get into must be properly analysed and evaluated by them as company strategies are modified
according to the external environment.
Recommendation
 Ocado should opt global marketing while entering into Switzerland as then only it would
be possible for them to enhance brand awareness in the market.
 Two different types of entry routes i.e., joint venture and licensing should be opt by
Ocado to enter in to untapped market as if various ways has been used by them while
entering then chances of getting success becomes higher.
Difference between global and local marketing
Basis Global marketing Local marketing
Meaning Global marketing means
planning, placing, creating and
promoting the company's
product in the global market.
Local marketing means
consumers located within the
area where product is made
available.
Payment mode In Global market payment
mode is online transaction like
Paytm, net banking etc.
In local marketing mode of
payment is cash payment like
by cheques.
9

Risk factor Global market has high risk
factor regarding hacking of
data and information.
Local market has less risk
factor as compared to global
market.
Accessibility In global market product
purchased by the customers
can not be touched, or seen
before purchasing the product.
In local market product can be
touched and can be seen before
purchasing the product.
Availability of service Global market trade for 24 /7
hours.
Local market trade only during
the day as 24/7 hours service is
not available in local stores.
Goals Global market main goal is to
satisfy customers with their
services or product
availability.
Local stores main goal is to
sell the product to the
customers by any means.
Profit maximization Global market has large
chances to earn or maximize
huge profits as it deals
globally.
Local market has less chances
to earn huge profits as it deals
locally or within the region.
Market share Global market has more
market share as it's products
are served across the nation
(Tan and Sousa, 2015).
Local market market share is
limited to local region only as
firm is selling it's product in
local region.
Expansion In global market expansion of
business is more as compared
to local as it product is served
across the boundaries.
In local market expansion is
possible but at a smaller level.
Business operation In global market business
operation is more than one
country.
In local market business
operation is within single
country.
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Research In global market deep research
is required because of less
knowledge about foreign
cultures, taste, demands etc.
In local market less or no
research is required.
LO 3
How product, pricing, promotional and distribution is different various internation marketing
approaches used by companies
Marketing mix refers to amalgamation of various factors which is associated with the
products and services offered by the company which directly influence buying behaviour of the
customers. Comparison between marketing mix in domestic and international companies is
explained below,
Factors UK International Market
Product It refers to product and
services provided by the
company. Ocado provides
different types of grocery and
consumer goods in the market
through only online platform
(Gillespie and Riddle, 2015).
As Ocado is entering in to new
market, they should adapt their
product range according to the
external and internal
environment. But still Ocado
will sell their existing products
i.e., consumer goods and
grocery. On an international
platform, Ocado have major
opportunity to sell their
product's of the online
supermarket to different
location with regulation of an
effective strategies.
Price Ocado has been operating their
business in UK from so long
As Ocado is entering
Switzerland for the first time
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due to which they could charge
premium pricing as they have
high brand awareness in that
place. Moreover, company has
a tie up with Waitrose
organisation which is one of
the largest retail supermarket
chain in UK which assist them
at the time of procurement of
goods.
that's why they could use
penetration pricing in the
starting. As it would help them
to grab large number of market
share in the market. After that
they could opt competitive
pricing as then only they would
retain their existing customers
who comes due to low prices
provided at the time of launch.
This P's of marketing mix is
regulated or utilised with
critical look out on current
trends running into a market to
sell supermarket chain
products.
Promotion Main focus of Ocado is target
social media which includes
Facebook, Instagram, twitter
etc. They think that internet
has the power of transforming
the way company usually
works in the past. Ocado can
easily connect with the
customer which they could not
due to distance between them.
Ocado should stick with their
strategy of using social media
as a way of enhancing sales
and brand awareness in the
market. Moreover, pamphlets
should be distribute in the local
areas so that people would be
aware about the company and
products they offered
(Lovelock and Patterson,
2015). In this P's of marketing
mix, Ocado needs to be think
over their strategies to develop
promotion or to bring
advertisement of the
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supermarket at an increased
efficiencies.
Distribution Ocado does not have a single
stores in UK but they has
warehouse from which product
is direct delivered to customer
home. No middle man is
between the process due to
which prices of the products
becomes lower.
Delivering directly through
warehouse and getting orders
from internet is a simple and
unique way which must be
follow by Ocado in foreign
country also. In this P's of the
marketing mix, this leading
supermarket chain is required
to put emphasises on supply
chain and logistics to led
shifting of goods from one
place to another.
How to adopt marketing mix on organisation in different international market
According to the Smriti Chand, there are different ways suggested to an organisation
about how to adopt marketing mix in different international market. The major task of marketers
or an organisation is to set the marketing mix in a way that the mix is appropriate for the target
nations or different market without the organisation inventing all the components of the mix. The
organisation should check if its present marketing mix components operating in different markets
can be used to the new market too. Rarely can a marketing mix be completely standardized. One
or more components of the marketing mix must be applied to the local situations. The fact is that
there are actual differences among various markets and the marketing mix has to be erogenous to
such differences. Industry operating in international market place should have an open and clear
mind on the degree of standardization to be followed in different foreign markets.
When launching a product into international RECOMMENDATIONS onto organisation
can follow a standard marketing mix and adapt the elements of marketing mix, to suit the
organisation they are executing their business activities in. Prior to designing a global marketing
mix an enterprise should carry out a PEST analysis for each country they would like to operate
in. along with this, it will support them to determine what components of the marketing mix can
13

be standardized and which components will require adjustments to suit national wants. It may
well be that an organisation is capable to follow a standard marketing mix in the majority of
cases and only require to set it on the rare occasion. Or every country may necessity its own
marketing mix. Therefore, PEST analysis is more essential framework which will help an
organisation to adopt marketing mix and retain strong position in marketplace.
LO 4
Different marketing approaches company can adopt
It is essential for companies to decide their marketing strategies according to their
capabilities as then only they can succeed in the market. Various strategies are mentioned below,
Multinational: It is type of strategies in which company has their branches in more than
one country and each and every identity works accordingly. No proper rules and regulations of
the parents company is followed by them. For instance food company H.J Heinz modifies their
products and services according to the local needs and demands. Other example is McDonald's
who provides hamburger in India in the starting but it was against the culture of them due to
which they have come up with the new product i.e., Aloo tikki Burger which is a hit in context of
sales.
Global Strategy: In this strategy, company uses the uniform or same strategy in all over
world so that no discrimination would be done with the customer on the basis of territory. For
instance, Microsoft provides software at the same price to every customers so that discrimination
between them would be avoided (Martin and Javalgi, 2016).
Transnational Strategy: This strategy is complex in nature as company does not
considered any country as their home and conduct business according to external environment.
Comparison between home and international orientation
In home orientation, company considered only similarities between the market they are
operating and the market they are going. If they are getting success in the existing market then
they think that they would also get success in the future country also. It implies that both the
countries have common market characteristics and environment where they are operating. This
approach thinks that if the products and services provided to customers are high quality then it
would not possible for competitors to affect their reputation in a negative way.
14

International orientation considered the assumption that there are similarities as well as
difference between the domestic and international market. Difference between those two would
assist company to make their strategies accordingly which leads to sustainable business
performance by getting competitive advantage over others (Christodoulides, Cadogan and
Veloutsou, 2015).
Marketing Approaches: There are two type of marketing approach such as Push and
Pull. Both are essential approach which will help an organisation to sell their products and
services. Push marketing is when an organisation speak to their potential client through
advertising and many other communication tactics with a particular action in mind. Pull
marketing is another important approach which will support an enterprise to market their goods
and services in international market. It enticing the client to seek out their product or service
through informational content, PR and many other enticing measures.
Competitor analysis
Competitive analysis or competitive research introduces as a field of strategic research
that mainly specializes in the aggregation and review of data regarding rival organisation. It''s an
important tactic for analysing what their challengers are doing and what type of threat they
instant to their financial well-being. Ocado has different competitors such as Instacart, John
Lewis and Morrisons. All these are main supermarket in United Kingdom and deals in same
sector. Large number of competitors of an organisation is negatively impact on business sales
and market share also.
Conclusion and recommendations
 Ocado should try to expand their product range in Switzerland like electronics goods,
customer services for electronic appliances etc as it would assist them to enhance their
customer share and market base. Moreover, institutional risk would be reduced by
expanding the product range of Ocado.
 Ocado should try to change their pricing strategies according to the competitor as
customers are price sensitive in nature. If other company is providing same product with
low price then customer would change their brand priority without wasting any time.
 Ocado have an opportunity to build perfect logistics infrastructures to rise supply chain
and shifting of the supermarket product to access it to the customer to enhance profits
raising for longer period of time.
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 Ocado should provides effective human resources into the business operation to rise
regulation of a business operation on a longer period of time. Also, Ocado needs to have
flat organisation in order to enhance business operations for a productive time or zone.
 Also, on an international level, Ocado have an opportunity to structure their customer
regulation or attraction to get their attention for future sales and business performance.
 This is a major recommendation for Ocado to do alliances with local retailer to increase
an excess of products and services to built brand image & operation for longer period of
time.
 Company should use different types of technologies which will help them in maximising
market performance in international market. Technological developments comes with
different advantages among many departments of an organisation. Operations can be
automated to overcome costs. Technology enables improved information to be gathered
on customers and enhnace on marketing efforts.
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CONCLUSION
From the above mentioned information it can be concluded that it must be essential for
local companies to expand their market through international marketing as then only it would be
possible for them to enhance their profitability and customer share over time. Beside this, in the
retail sector customer are price sensitive in nature so company should try to opt minimum pricing
strategy as then only they would acquire more market and customer share in the competitive
market. Apart from it, it is essential for company to decide their marketing and promotional
strategies according to the customer behaviour and perceptions as there is a direct relationship
between them.
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REFERENCES
Books and Journals
Armstrong and et. al., 2015. Marketing: an introduction.
Christodoulides, G., Cadogan, J. W. and Veloutsou, C., 2015. Consumer-based brand equity
measurement: lessons learned from an international study. International Marketing
Review. 32(3/4). pp.307-328.
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