Marketing Strategies for Talent Plus in the Irish Market

This report provides a detailed analysis of Talent Plus's proposed market entry into Ireland. It begins with background information on Ireland, including a PESTEL analysis to assess the political, economic, social, technological, environmental, and legal factors influencing business opportunities and challenges. The report then identifies specific opportunities and threats for Talent Plus in the Irish market. A key focus is on the proposed entry modes, evaluating options such as direct exporting, licensing, partnerships, franchising, joint ventures, buying a company, and piggybacking, with recommendations tailored to Talent Plus's needs. Finally, the report outlines applicable marketing strategies for Talent Plus to effectively establish and grow its presence in Ireland, offering a comprehensive overview of the company's approach to the market.

MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
Brief background information of chosen country.......................................................................1
Environmental factor highlighting business opportunities and challenges.................................2
Proposed entry mode for Talent Plus..........................................................................................3
Applicable marketing strategies..................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is the term that is used by a company in order to promote their business
operations so as to reach to maximum number of people. This will gradually increase the profit
sales and productivity as well (Wilson and et. al., 2016). Thus, many companies try different
marketing strategies for achieving their set targets and goals in specific time frame. Talent Plus is
a consultancy firm and provides information and legal advice related to business operations to
various companies. In this report, brief background information will be provided where the
services are not launched yet so that the researcher provides a minor detail about the nation or
people. Other than this environmental factor is also included along with this the opportunities
and challenges associated with the services for entering the new market area is mentioned in this
assignment. Apart from this different market strategy and entering mode are involved in this.
Brief background information of chosen country
Ireland is one of the third largest islands in Europe. Area is covered 84,421 km2 with the
population of around 6,572,728. Dublin is the largest city in this country and language spoken
there is English, Irish and Ulster Scots. Talent Plus is an organization that wants to establish their
business in Ireland so that they can provide services and facilities to other organization related to
any legal queries. PESTEL analysis will help the company so as to know the nature of the nation
and it will also assist them in making proper plan for establishing their services into new market.
Political: The political system of Ireland constitutes a proportional representative system
and each one select almost 3 – 5 parliamentary representatives. Some of the rules and regulations
which governmental body has formulated for the betterment of the citizens come under this. For
establishing a new business there are certain norms which fresh companies cannot violet in order
to work effectively (Kotler, 2015). Thus, political system of Ireland is rigid and flexible in some
context. They are giving chance to new entrants so that they can contribute some amount of
money in their economical growth.
Economical: Ireland is having a mixed economy, and technological sector plays an
important role in increasing their revenues. They have a private ownership that includes both
individual and group of people so that their business can be conducted in a smooth manner.
Thus, the economy of Ireland is highly dominated by the service sector of the nation and
contributes around 72% of money in GDP. Other than this, mining and quarrying also
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contributes some of the funds in Gross Domestic Product and this constitutes approximately
25.9%. For establishing a new business related to information technology and computers there is
a scope in future growth and it can become a leading industry in Ireland in upcoming times.
Other than this, travel and tourism is the great source of generating revenues for the nation
(Babin and Zikmund, 2015).
Social: The population of Ireland is almost 6,572,728 which is quite a good number.
According to this there population density is approximately 77.8/km2. People of this nation are
humble in nature and enjoy living together. Largest religion group in this country is mostly
Christians along with this they have a small community of Jewish and Muslims. People of this
nation easily accept changes and adopt them as their own (McDonald and Wilson, 2016. Talent
Plus, will gain maximum profit as there are many new companies that are starting their own
business and for this they require legal advice.
Technological: Ireland comes under top 3 global enterprise software companies and is
ranked amongst top 10 global software organizations. Thus, emergence of new technologies have
created a great impact on the people as it has reduces the cost of communication. Now anybody
can contact with a person sitting in some other corner of the world.
Environmental: The geographical condition of Ireland is very pleasant; most of the
people come here to visit the old monuments and scenic beauty. Thus, the environmental
condition is very appropriate to work on. Ireland, has a peaceful surroundings nobody have any
grudges with one another and people perform their task silently (Hair and et.al., 2012).
Legal: As Ireland is a part of Europe so some of the rules and regulations are quite
similar. The government of this country has formulated the norms with respect to the welfare of
their citizen. Talent Plus, but before establishing their business they should determine the legal
rules and regulations properly so that they can give appropriate solutions to their clients and at
the same time win the loyalty of their customer as well.
Therefore, PESTEL analysis of Ireland is helping Talent Plus to go through their
strategies once again so that if any changes are required they can make alterations accordingly in
order to sustain in the market for a longer period of time.
Environmental factor highlighting business opportunities and challenges
Opportunities: With the change in course of time there has been an increase in job
opportunities. Many new companies are trying to start up a fresh business and this is providing a
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wide range of opportunity in selecting own choice of business. As the environmental condition
of Ireland is appropriate to start a new business and for establish it in a more appropriate way
they needs consultancy firms who can advice them about what will the appropriate solution for
the same. Here talent Plus can come into being, by providing with the related details company
can enhance their brand image.
Threats: Competitive rival companies are the biggest threat for any organization. In
Ireland there must be many renowned consultancy firms people may rely much on them. This
will be the difficult task for Talent Plus to sustain in the market and grow effectively so that
company can come into the eyes of many people. Customers in particular area may not prefer to
consult them in a fear that by consulting them there must be chance of loss (McDaniel and Gates,
2013). For acquiring a greater position the organizations may use appropriate tools and
techniques like proper application for calculating revenues and techniques for eliminating flaws
and problems. This will make them capable in giving proper solutions to different organization
according to the market situations.
Therefore, environmental factor plays an important role in establishing a business in a
proper manner. For example: if the behavior of people in particular area is rigid than introducing
a business will be very difficult for them but if all the public welcomes the new business than it
will be beneficial for nation’s economy and the company as well.
Proposed entry mode for Talent Plus
To sustain in the market for a long period of time it is necessary that a proper plan is
made which new companies can follow in order to establish themselves in fresh market area.
Thus, there are number of ways through which an organization can enter into a foreign market. It
is not possible that all the market entry option provides the same benefit as others will have. By
applying these factors an organization increase its sales and productivity. For this there are some
of the market entry option is mentioned that will help Talent plus in establishing its business in
other country as well (Kotler, 2011) .
Direct Exporting: Under this kind of market entry option the services are sold directly
into the market in first instance only. For this many organization after establishing themselves in
a sale programs take help of agents and distributors so as to remain in the market for future
proceedings. Apart from this agents and distributors works personally to assist in order to fulfill
the desired outcomes. Thus, gradually they become one of the integral parts of the company so it
is important that company chooses the best suited agents who can handle the organization in an
effective way.
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Licensing: It is relatively a kind of an agreement under which a company give away the
rights to other organization in order to utilize them for a product or services. This kind of process
is very helpful in that place where the buyer have a large amount of market share of the market
where he/she wants to enter. For both marketing and production licensing can be used for getting
better results.
Partnership: This is considered as one of the most important factor while entering into a
new market in any part of the world. It can differ from market to market or vary from initially to
situation like initially it can simpler than then to a complex form. Partnership is helpful where
culture and business is different in terms of customers and market area. Thus, it important to look
out various factors which can hamper the business operations along with this choosing of
consumers must be appropriate (De Vries, Gensler and Leeflang, 2012) .
Franchising: This is applicable for those organization that are using repeatable business
model. Food outlet can be the best example for this, as it can be shifted into other markets. Two
essential points to be considered while applying this model is that the business model which is to
be establish must be unique or should have a strong brand image so that customers can easily
identify their products and secondly the services which they have launched must give them
competitive advancement.
Joint Ventures: This kind of market entry option is particularly used in order to make a
third independent managed organization. Under this, two firms agree to work with each other in
order to enter and sustain in the market for longer period of time. This is one of the beneficial
methods because the risk and profit is equally shared due to which it minimize the pressure form
an individual partner or company.
Buying a Company: Under this, the new organization tries to buy existing local firm and
it can be said as a best strategy of entering a fresh market. It is appropriate because the firm may
have a good market share also following all the rules and regulations which are formulated by
the government of that particular area (Kim, and Ko, 2012). By following this process company
will enhance its value but this can be the most expensive method and will require substantial
diligence so as to enter into a foreign market. It has a plus point that, as the organization exists in
the market it will give a status of being local and because of this the new firm will get maximum
profit.
Piggybacking: It is considered as the most unique method of entering a new foreign
market. It can be useful in order to launch and sell the new services and product in large
domestic organization which is currently engaged in foreign market. Most of the companies
adopt this in order to the reliability and sustainability of their goods. This is cost effective and
reduces the risk on the same time because firm is selling the product and services into larger
enterprise internationally.
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Therefore, as Talent plus is new to the market of Ireland and wants to give better services and
facilities to their customers by giving them appropriate solutions of their legal queries. They are
adopting various methods of entering into the new market so as to increase their market share
and value as well. Talent plus is joining hands with other organization who are well established
in the current market this is providing them a better image in front of the customer and by
adopting this they are reducing the risk of losses. Apart from this, firm is buying a new company
and collaborating with various enterprises so as to remain in partnership so as to establish
themselves more appropriately (Grönroos and Ravald, 2011).
Applicable marketing strategies
Marketing is a process that is adopted by most of the companies so that they can give
appropriate information related to the products and services to their customers. Thus, under this
the organization tries to build a good relation between company and clients by creating
communicating and delivering the right facilities to consumers on time. Talent plus is a
consultancy firm and it is gaining popularity by giving adequate services to their customers.
Marketing strategy can be said as a sort of plan that helps an organization in achieving its
goal and set targets on specific time frame. Under this, managers of company try to identify and
evaluate the situation and based on that they apply appropriate marketing strategy. As talent plus
is a consultancy firm and is establishing it new business in Ireland so they are targeting small and
medium enterprises who can easily cooperate with them and understand the views and thoughts
in an appropriate manner. For this, they are conducting seminars which are at minimum charges
so that company can take advices from them (Day, 2011). Although Talent Plus had gained
popularity in London so it is trying to expand its business in other areas also. This will give job
opportunities to many individuals and will contribute some amount of money in country’s
economy. They are opening their enterprise in those areas where most of the companies are
established, this will give them opportunity of interacting with most of their customers so that
they can explain their schemes to them
Marketing mix can be said as the foundation of marketing and it uses certain tools and
techniques in order to make suitable strategies so as to gain maximum profits. Thus, it enables an
organization in attaining their set targets and objectives in specific period of time. Mainly it is
categories into four broad level i.e. product, price, promotion and place. To know it more
precisely below all the 4Ps are explained.
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Product: It is considered as an item that is manufacture according to the needs and wants
of customers. This includes the process product designing, branding, packaging, and quality of
the commodity etc., Talent plus is working in a better way so that they can get excellent response
from their clients. They provide solutions with great enthusiasm in order to provide maximum
benefits to the organization. Gradually the company is establishing and holding a better position
as compared with previous results and outcomes (Sheth, 2011).
Price: In order to remain in the market for longer period of time it is essential that the
appropriate pricing strategy is applied by the company. For this, a proper evaluation of area is
required where the organization wants and needs of the customers. Talent plus in its initial years
in Ireland offering their services at minimum price and this process is helping them in attracting
more and more customers towards their company. Thus, pricing refers to the amount in exchange
of which clients can avail their services. Hence, it is considered as one of the variable through
which firm can increase its perceived value. Therefore, it is essential to use it properly
Promotion: As Talent Plus is new to place so to launch it effectively the company is
using various tools and techniques for promoting their organization amongst others. They are
utilizing different mediums like advertising, direct marketing and sales production so that they
can reach to maximum number of people (Krishna, 2012). Other than this, Talent plus is using
promotional mix which is making an appropriate balance of advertising, conveying the message
of their offerings to their clients along with additional information related to their schemes
accordingly.
Place: Under this, Talent plus is considering the convenience of customers and delivering
their services as per the priority of the situation. They are trying to cover a large area of market
and for this organization is taking help from its managers and their joint ventures in order to
know about the situation of particular area. All these process will help the company in knowing
best suited area from where they can maximize their profit.
Therefore, Talent Plus is considering all the 4Ps before establishing its business in new
foreign market. This will assist them in knowing the best possible methods from which they can
gain maximum profits and increase in sales as well (MacInnis, 2011). Other tan this it is helping
the company in knowing the advantages and disadvantages of a particular area so that they can
evaluate it properly before establishing their business and giving their services and facilities to
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the citizens. Pricing strategy is the main element on which Talent plus has to concentrate they
should fix their cost according to the targeted audiences and the areas in which they will work.
CONCLUSION
From the above report it can be conclude that to establish a new business it is required to
have proper information about the place or new market where company wants to launch their
services. They can adopt various market entry options as per the needs and wants it may differ
from situation to situation. Other than this there are different marketing strategies that
organization can apply in order to get maximum profits. This will enable them in giving tough
fight to their competitors and as a result the company may gain competitive advancement.
PESTEL analysis is helping the researcher to give information related to new international
market where the firm has to launched their organization is that they can provide better services
and facilities to their customers. Apart from this, opportunities and threats have been discussed in
context with environmental factor in order to know what kind of difficulties and positive
outcomes will bet there after launching and providing the facilities in a specific area.
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REFERENCES
Books and Journals
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McGraw Hill.
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modeling in marketing research. Journal of the academy of marketing science. 40(3).
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