Research on Market Expansion Strategies in Business Development

This report delves into the strategies of market expansion within the context of business development, specifically focusing on Marks and Spencer's (M&S) approach to emerging global markets. The research begins with a proposal outlining the background, aims, objectives, research questions, success criteria, project plan, and rationale for investigating M&S's expansion strategies. The study then progresses to a literature review, exploring the latest trends in market expansion, the strategies employed by M&S, and the challenges faced during international expansion. Research methodologies, including qualitative methods, interpretivism, descriptive design, and inductive approaches, are detailed, alongside data collection methods involving both primary and secondary sources. The report presents research findings, including data analysis and interpretations, leading to conclusions and recommendations for M&S. It concludes with a reflection on the research process, a personal development plan, and a comprehensive list of references.

RESEARCH FOR
STRATEGIC
DEVELOPMENT

TABLE OF CONTENTS
TASK 1 FORMULATES THE RESEARCH PROPOSAL............................................................3
Research background..............................................................................................................3
Aim and objectives.................................................................................................................3
Research questions.................................................................................................................4
Success criteria.......................................................................................................................4
Project plan.............................................................................................................................4
Rationale.................................................................................................................................7
TASK 2 LITERATURE REVIEWS AND RESEARCH METHODOLOGIES.............................7
Literature Review...................................................................................................................7
Research Methodologies........................................................................................................9
TASK 3 PRESENTATIONS OF RESEARCH FINDINGS.........................................................11
Data Analysis and Interpretations........................................................................................11
Conclusion and Recommendation........................................................................................17
TASK 4 REFECTION AND FEEDBACK...................................................................................18
Reflection.............................................................................................................................18
Recommendation:.................................................................................................................19
Personal development plan...................................................................................................19
REFERENCES..............................................................................................................................21

Title: To investigate the strategies of market expansion in context of business development in
emerging global market.
TASK 1 FORMULATES THE RESEARCH PROPOSAL
Research background
Business development is such process which helps business to develop their internal and
external part of their workings and also enhances the employee’s interests in their organisation
for long term growth. Usually business development is not initiated to gain for large amount of
profits but it can be done by having no profits and no loss to business (10 Effective Business
Development Strategies (Plan), 2019). In this research, the business development mainly used
the strategies in context of market expansion of company and accordingly company makes
strategies to enhance their sales and production activity at large scale. The main purpose of using
such strategies are in relation to enhancing the marketing techniques and also target market to
fulfil the needs and demands of the customers. The present research is based ion Marks and
Spencer company which was founded by Michael Marks and Thomas Spencer in 1884(Moutinho
and Vargas-Sanchez, 2018). This company is a multinational retailer company deals in
clothings, home equipments and food products and its headquarters is in London. M&S carry a
strong brand images and also they are engaged with large number of employees carrying their
business at international level.
Aim and objectives
Aim: To investigate the strategies of market expansion in context of business development
in emerging global market - A study on Marks and Spencer.
Objectives:
 To identify trends pertaining to expansion and business development in an emerging
market.
 To evaluate strategies or options available for Marks and Spencer pertaining to expansion
at international level.
 To assess challenges facing by M&S while entering in an emerging market.
 To recommend suitable option to Marks and Spencer in relation to entering in an
emerging market.
3

Research questions
1. What is the recent trend regarding expansion and business development in an emerging
market?
2. What are the strategies available to Marks and Spencer pertaining to business expansion
and development?
3. What are the challenges that business units face with respect to business expansion at
global?
4. Which strategies available to M&S for dealing with the issue associated with business
expansion in the context of an emerging market?
Success criteria
In order to meet concerned research objectives books, journals and scholarly articles in
relation to business expansion strategies have been evaluated. Through collecting data from
secondary sources resulting in getting more accurate information. This in turn provides deeper
insight about the strategies which in turn prove to be more beneficial for M&S while entering an
emerging market. The success criteria is gained by adapting the data analysis and data collection
procedure. Further, to accomplish research effectually timeline has been prepared and followed
properly so that outcomes can be derived within specific time frame.
Yes, The current trends are summarized through using the primary and secondary sources
to collect the information. To gain success in business, marketings strategies is one of the best
strategies adapted by business in respect of attracting customer through providing innovative
services. Yes, it can track the records and other company strategies through examining their
working criteria to sustain in market for longer way. The strategies can be find out through the
research and development department in respect of tracking the records or collecting the
information which is pertaining in market.
Project plan
Planning in project is the major aspect regarding maintaining every activity in the project
and also keep an eye on the working of the matters which helps in effective project planning. It
includes the following aspects to accomplish a successful project such as:
Activity 1
th
2
nd
3
rd 4th
5
th
6
th
7
th
8
th
9
th
10
th 11t
4

Wee
k
Wee
k
Wee
k Wee
k
Wee
k Wee
k
Wee
k Wee
k
Wee
k
Wee
k
h
W
ee
k
Select the
Research
topic
Conduct
Literature
Review
Methods
used to
carry the
research
Methodolog
y
Examine
the factors
Manual
questionnai
re is
prepared
once
examinatio
n is done
5

Collects the
data and
information
for the
selected
topic.
Analysed
them by
using
thematic
method.
Rechecked
the data and
information
before
submitting.
Submit the
final report.
6

Milestone table:
Particulars Due date Justification
Aim and objectives 7 days Completed in 3 days, so that
once it is prepared it must be
cross-checked with the tutor
Questionnaire 7 days 5 days, so that if there are any
variances in answers it must be
rectified within the stipulated
time period.
Data collection 7 days 4 days, as it helps in
rechecking the data before
undertaking the procedure of
7

analysing such data for better
results.
The resources which are used is in respect of carrying the electronic mode in which the
data are secured and also it neglects the chances of infringement of the collected data. The data
are to be protected through saving the information in laptop and also carrying the pen drive in
respect of transferring any data.
Rationale
The reason behind choosing this topic is in context of globalisation and its facilities
which are provided to company regarding expanding their internal and external activities. Thus,
researcher finds this topic interesting as due to global world many new techniques are to be
implemented which results in bring more growth to the business. Researcher also find this topic
interesting as lot of authors had already gathered wide range of data in respect of market
expansion and also from viewing their reviews they can conduct the deep study of the data
collected. Researcher is more satisfied with the working in the company but to analysed certain
aspects which helps company to take effective decision relating to more business development.
TASK 2 LITERATURE REVIEWS AND RESEARCH METHODOLOGIES
Literature Review
Theme 1: Latest trends employed by company to expand their business in global market
According to Paris, Wasik and Turner, (2016) stated that the latest trend which is used by
company to expand their market is in relation to using the digital transformational to the brand
image of the business and their products and services in market. By campaigning their products
through digital sites, it attracts the customers to large scale and also they can promote their new
products through such technology.
Woodfield, (2015) criticised that technology sometimes lower down the business growth
as due to easily track by their competitors or not working at the time of ordering the products by
customers. In such cases it results in more complaining arises regarding the delivering of
products in accurate time. Market expansion is easier for the company but to maintain the
reputation in the market with the advance technology is tough.
8

Theme 2: Strategies used by Marks and Spencer to expand their market in emerging global
world
As per Baines and et.al., (2017) suggested that to emerge their business into global
market, the strategies which is used by M&S is related to targeting the customers towards their
products and services and also produce such products according to the needs and demands of
such products in the market. Targeting the customers is the best way to expand the business into
international market. As the expenses which is incurred in expansion is resultant to be success by
adapting these strategies.
Wolf and Floyd, (2017) argued that the taste of customer are changing due to changes in
environment. They always demand such products which are of the best quality and low pricing
and in relation opt eatable products they prefer the organic products. Thus, if the company
expand their business by keeping the customer point of view regarding their products than in
such cases it results in affecting their expanding strategies in global market.
Theme 3: Challenges faced by company in context of market expansion while entering into
global market.
Warner and Sullivan, (2017) suggested that the major challenges which is faced by
company in respect of market expansion is resultant to expanding the business in wrong
countries where there are strict government norms regarding the tax charges or barriers in case of
import and export of goods and services. The major challenges are also in respect of culture
values and norms in different countries and the communication gap which resultant in bringing
lot of confusion in communication through different languages. The challenges which affects the
market expansion are of huge impact in growth of business at large scale.
Collins, (2018) viewed that the challenges which is discussed had not major impact if the
company appoint the right person to carry such procedure at international level. It mainly
includes the proper planning and procedure to expand their business into market and also uses
various techniques and method to overcome from such challenges which is faced by company.
Research Methodologies
It includes the systematic planning and procedure to conduct the appropriate research.
With the research method it helps to examine various facts and figure to collect relevant data and
9

use it appropriately to make the research work and unique and different. It includes the following
methods:
Research types:
It carries two methods such as Quantitative and Qualitative. There are various types of
research and in this method researcher had applied the Qualitative method to carry their research
work (Giaoutzi, 2017). In this method they can conduct survey, interview and also examines
various other information for such sources. In this research, manual questionnaire is undertaken
regarding raising question from manager of Marks and Spencers.
Research Philosophies:
It includes Positivism and Interpretivism. In this method it carries with various ideas,
thought and expression to carry the research work to get the more appropriate results (Dubey and
et.al., 2017). Researcher had applied the Interpretivism method to carry the research to interpret
the available data from such information which is gather.
Research Design:
It is of two types Descriptive and Experimental. It includes designing the research work
so that it looks presentable and different from other research work. In such cases researcher had
applied the descriptive method to collect data from available sources. Descriptive method thus
results in analysing the deep study of the research work to gather the information which is
reliable (Cooper, 2017).
Research Approach:
This approach carries the two aspects Inductive and Deductive. It includes the proper
planning and steps which is to be taken to reach to that area from information are to be gathered.
In this researcher had applied the Inductive method to collect data from the available sources.
Inductive research brings lot of aspects which helps companies to take effective decision making.
Data collection:
It is based on two methods such as Primary and Secondary data. It is such a method
which includes gathering, interpreting and organising such data from the available resource. Here
researcher had applied both the method to collect data from the available resources (Bettis and
et.al., 2016). Primary data is used to collect information from available sources while secondary
data is used to gather information from other sources which is not primary. In this report,
10

researcher carry both the methods in which they undertake original information and also take
information from other secondary sources.
Sampling:
It is two types Random and systematic sampling. Sampling method is mainly used when
there are large number of employee and data are to be gathered from all such sources in such
cases sampling method is used to collect data (Hung and Quartered, 2017). Researcher had
applied the random sampling method to pick random people to gather information. In this
research, the information is to be gathered from 20 managers to know about the expansion
techniques used by company.
Data Analysis:
It covers two methods such as Thematic and Non Thematic Method. In this method,
researcher analyses the collected data so that there are more chances to get the accurate results.
Researcher had applied thematic method to collect data from the available sources
(Mukhopadhyay, 2016). By this method they can make the research clear and useful by
conducting and presenting the research on the bases of theme.
Ethical Consideration:
Researcher had maintained certain ethical norms at the time of research. Ethics are
related to not disclosing the information of the company and their employees without their
permission of such disclosure. During research, they didn't harm any person either mentally and
physically to conduct their research work.
Reliability, validity and acceptance:
These are the methods which is used by researcher in respect of testing the research and the
data which is collected from various sources. Reliability refers to the consistency of the results as
if the data is collected from various aspects, the results are reliable to each other. In case of
validity, it refers accuracy of the results as the data which is collected provide the right results.
TASK 3 PRESENTATIONS OF RESEARCH FINDINGS
Data Analysis and Interpretations
Q.1) Is market expansion strategies is useful for companies to develop growth in their
infrastructure?
 Strongly agree
11

 Agree
 Neutral
 Disagree
 Strongly disagree
Q.2) What are the latest trends used by company to expand their business in global market?
 Online marketing
 Targeting customers
 Innovative products design
 Campaign
Q.3) What are the strategies used by Marks and Spencer to expand their market in emerging
global world?
 Customer reviews
 Market penetration
 Digital transformational
 All of above
Q.4) Is employees are satisfying with the expansion strategies in company?
 Yes
 No
Q.5) What are the challenges faced by company in context of market expansion while entering
into global market?
 Strict government norms
 Barriers in import and export
 Culture differences
 Communication gap
12