Merino & Co. Global Marketing Plan: Entry into UK and US Markets

This report presents a comprehensive global marketing plan developed for Merino & Co., an Australian woollen clothes company, aiming to expand its market presence into the United Kingdom and United States. The plan begins with an executive summary and table of contents, followed by an introduction outlining the company's current online presence and expansion goals. Key assumptions underlying the strategy are detailed, alongside SMART marketing objectives focused on achieving a 10% market share in the UK and US and launching a new product line targeting teenagers. The report identifies the target market, including customer demographics and geographic considerations, and provides a detailed marketing mix analysis, covering product, price, promotion, place, process, people, and physical evidence. Market positioning and an implementation plan, including a timeline and budget, are also included. The report concludes with references.

Running head: GLOBAL MARKETING PLAN
Assessment No
Global Marketing Plan
Name of the student
Name of the University
Author note

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Executive Summary
This report had discussed a global marketing strategy for the company named Merino & Co
which is one of the most reputed woollen clothes company in Australia. The company mainly
used their online platforms to sell their products. However, the company wanted to make an
entry into the foreign market with new variety of products for the United Kingdom and
United States market. This global marketing plan had been developed based on the
opportunity analysis report performed on the chosen organisation. The report had covered all
the necessary aspect of market entry.

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Table of Contents
1.0 Introduction..........................................................................................................................4
2.0 Assumptions.........................................................................................................................4
3.0 Marketing Objectives...........................................................................................................5
3.1 Market entry into United States and United Kingdom.....................................................5
3.2 Launching of a new woollen product line........................................................................5
4.0 Target Market.......................................................................................................................6
4.1 Target Customer...............................................................................................................6
4.2 Target Geography.............................................................................................................6
5.0 Marketing Mix.....................................................................................................................7
5.1 Product.............................................................................................................................7
5.2 Price..................................................................................................................................8
5.3 Promotion.........................................................................................................................8
5.4 Place.................................................................................................................................8
5.5 Process..............................................................................................................................8
5.6 People...............................................................................................................................9
5.7 Physical evidence.............................................................................................................9
6.0 Market Positioning...............................................................................................................9
7.0 Implementation Plan............................................................................................................9
7.1 Timeline...........................................................................................................................9
7.2 Budget............................................................................................................................10
References................................................................................................................................12

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1.0 Introduction
This report discusses a global marketing strategy for the company named Merino & Co which
is one of the most reputed woollen clothes company in Australia. The company mainly uses
their online platforms to sell their products. However, the company wants to make an entry
into the foreign market with new variety of products for the United Kingdom and United
States market. This global marketing plan is developed based on the opportunity analysis
report performed on the chosen organisation. The opportunity analysis has been able to
highlight the key opportunities where the business entity can capitalise on the presented
opportunities to tap into lucrative markets and gain sustainable competitive advantage. The
report provides a detail describes of the marketing objectives, the chosen target market,
marketing mix, marketing positioning and implementation plan. The next section determines
the assumptions made while developing the global marketing strategy.
2.0 Assumptions
The report has made a number of assumptions while formulating this global marketing plan.
These assumptions have been highlighted below:
 The report has conducted marketing research at the global level to identify suitable
strategies
 The organisation is willing and ready to make an expansion into foreign markets
 The regulations in the foreign market has been considered while developing the
marketing strategy
 SMART goals and objective require deeper analysis for practical implication
 There is no shortage or limitation of the availability of the raw materials
 Budget and implementation plan are all estimates and necessary changes can be made
based on the practical implementation
The re-evaluation of the SWOT analysis conducted earlier in the opportunity analysis has
shown that the major strength of their organisations is their product design and quality
assuming that there is demand of woollen products in the target market. However, the lack of
social media presence and climatic dependences are factors which may negatively impact the
expansion strategy.

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3.0 Marketing Objectives
In this section, the SMART objectives has been used to explaining the marketing objectives.
This has described the target that the company wishes to achieve in years to come (Bjerke &
Renger, 2017). The major marketing objective of the company are as follows:
 Market entry into United States and United Kingdom
 Launching of a new woollen product line
3.1 Market entry into United States and United Kingdom
The business entity aims to achieve a market share of 10% while making an entry into the
United States and United Kingdom. The company initially will focus on exporting on
products due to their established operations in online platforms. However, the organisations
wants to open up physical stores to penetrate further into the market.
 Specific- Market share has to be increased by 10% by market entry into United States
and United Kingdom
 Measurable- Market research, Business analytics and Financial reports will be used
to measure the growth
 Attainable- There is significant increase in demand of modern woollen clothes and
winter wear by 5.8% in United States and similar is the case for United Kingdom
(www.globenewswire.com, 2019)
 Realistic- The company has good online and easily cater to other countries
 Timeframe- Merino expects to enter the market within the next one year and expects
to gain the target market share within the next 5 years.
3.2 Launching of a new woollen product line
The company wants to develop a new product line consisting of trendy design and high
quality products for the teenagers and increase their sales volumes by 3% in the next 5 years.
 Specific- The sales volume needs to be increased by 3% by launching new product
line
 Measurable- Measured by the demand, distribution and sales report

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 Attainable- The consumers in United States and United Kingdom looking for trendy
and modern options
 Realistic- The company has established its presence in Australia and have good
reputation in the market
 Timeframe- Merino expects to develop these designs within the next 6 months and
increase their sales volume within their next 2years
4.0 Target Market
The target market of the consumers has already been chosen while conducting the situational
analysis in the previous assignment and the target market has been chosen based on it. Target
market identification is essential for developing marketing strategies suited to the needs of
the consumers (Aghdaie & Alimardani, 2015). Target customer and geography determines
the consumer demographics of the target market.
4.1 Target Customer
The target customers for Merino & co. are the teenagers and younger generation in United
States and United Kingdom that are looking to wear trendy and modern woollen clothes.
Traits
Behavioural Looking for trendy, affordable and modern woollen clothes
Demographic Less than 25years of age; emerging affluent/affluent; single or couple
Psychographic Teenagers and young generation habituated with using woollen clothes
Geographic Developed markets like United States and United Kingdom, especially in major
cities like New York and London
4.2 Target Geography
While analysing the geography of the target market, factors like market size assessment,
market forces and market entry strategy has been evaluated. These factors have been
described below in brief.

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Market size assessment
The analysis of the market shows that the market size in United States is US$ 403,158.1
million and it is quite similar in the United Kingdom. Moreover, the global market for winter
wear is expect to grow further due to the increase in population and rise of E-commerce
adoption.
Market forces
There has been increase in demand in the global market but due the presence of the large
number of competitors has resulted have resulted in advantages towards the consumers and
they have the bargaining power over the companies due to the low switching cost in the
market.
Market entry strategy
The organisation will use the differentiated marketing strategy to promote their products as
value for money and affordable for the emerging affluent consumer segment while high
quality product for the affluent segment. The company will initially sell through their online
stores but will open up franchise to penetrate into the market.
5.0 Marketing Mix
Marketing mix is an essential tool for understanding the way the organisation is fulfil the
marketing objective in the chosen target (Huang & Sarigöllü, 2014). This section uses the
7p’s of marketing as a tool to evaluate the way the company is going to pursue the consumers
in the target market.
5.1 Product
Merino & co will develop new product line by developing modern designs and maintain the
high quality of the raw material they use. The company also offers warranty of 2 years on the
product and develops their raw materials and have been established due to their authenticity
of the product.

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5.2 Price
Merino & co offers products at affordable ranges and the price of the products will also range
from $400 to 1500 for the trendy, fashionable and design wear segment. However, the
company will offer discounts and sales as an initial market strategy.
5.3 Promotion
The initial promotion strategy will consist of arranging a fashion event to launch the new
product line and grab the attention of the consumers. While entering into new market, the
company will provide offers and discounts for the consumers in United States and United
Kingdom. The company will also offer coupons for every purchase made so that the
consumers can save on their next purchase. The company will focus on developing their
brand on the social media platform and using digital media to develop a respective brand
image. Moreover, the organisation will engage with the consumers on the social media
platform to understand their queries and address their needs effectively.
5.4 Place
The majority of the sales will be carried out on the online retail outlets and will be delivered
within the desired time for the consumers. However, the company will also develop their own
franchise and the make the products the products available to other retail outlets to increase
the penetration in the market. The franchise will be opened at popular locations and high
streets for attracting more consumers.
5.5 Process
The company will focus on the overall customer journey map and will aim to provide better
services to the consumers throughout the process. The company will employ skilled staffs to
provide excellent quality of support and use communication medium to develop good
relationship with the buyers. The organisation will also provide post sales services such as
delivery, warranty and alterations at no or minimum expenses.

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5.6 People
The company will form partnerships with local distributors for effectively distribution their
products to famous retail outlets. At the same time, the organisation will form partnership to
develop local franchise to create their own exclusive stores. The organisation will also focus
on establishing relationship with logistics and distribution companies to increase penetration.
5.7 Physical evidence
The organisation will make sure that woollen clothes branding will be consistent through the
process of marketing.
6.0 Market Positioning
The products offered by the company will be positioned as per the quality, design and price
which will develop a unique selling proposition (Urde & Koch, 2014). The company will
offer high quality and latest designer product at affordable prices to all consumers.
7.0 Implementation Plan
7.1 Timeline
The company can make an entry into the foreign within the next 98 with extensive research
on consumers and product development process due to the online presence in the market.
Task Name Duration Start Finish
Marketing timeline 98 days Fri 16-08-19 Tue 31-12-19
1.0 Initiation phase 10 days Fri 16-08-19 Thu 29-08-19
1.1 Discuss marketing
objectives 3 days Fri 16-08-19 Tue 20-08-19
1.2 Develop marketing
strategy 5 days Wed 21-08-19 Tue 27-08-19
1.3 Formal documentation 1 day Wed 28-08-19 Wed 28-08-19
1.4 Approval 1 day Thu 29-08-19 Thu 29-08-19
1.5 Milestone 1: initiation phase 0 days Thu 29-08-19 Thu 29-08-19

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completed
2.0 Design Phase 52 days Fri 30-08-19 Mon 11-11-19
2.1 Develop Design for new
product line 20 days Fri 30-08-19 Thu 26-09-19
2.2 Seek approval 2 days Fri 27-09-19 Mon 30-09-19
2.3 Make changes 3 days Tue 01-10-19 Thu 03-10-19
2.4 Sent of development 20 days Fri 04-10-19 Thu 31-10-19
2.5 Develop marketing
activities 5 days Fri 01-11-19 Thu 07-11-19
2.6 seek approval 1 day Fri 08-11-19 Fri 08-11-19
2.7 Finalise marketing
activities 1 day Mon 11-11-19 Mon 11-11-19
2.8 Milestone 2: design phase
completed 0 days Mon 11-11-19 Mon 11-11-19
3.0 Implementation Phase 30 days Tue 12-11-19 Mon 23-12-19
3.1 Online Promotion,
discounts and coupons 30 days Tue 12-11-19 Mon 23-12-19
3.2 Conduct fashion events 3 days Tue 12-11-19 Thu 14-11-19
3.3 Billboards and live road
shows 7 days Tue 12-11-19 Wed 20-11-19
3.4 Test marketing 1 day Tue 12-11-19 Tue 12-11-19
3.5 Milestone 3: Implementation
phase completed 0 days Mon 23-12-19 Mon 23-12-19
4.0 Monitoring and closure 6 days Tue 24-12-19 Tue 31-12-19
4.1 Review marketing
strategies 3 days Tue 24-12-19 Thu 26-12-19
4.2 Document changes if
needed 2 days Fri 27-12-19 Mon 30-12-19
4.3 Close project 1 day Tue 31-12-19 Tue 31-12-19
4.4 Milestone 4: project closed 0 days Tue 31-12-19 Tue 31-12-19
7.2 Budget
The overall budget has been developed based on the estimate costs assumed in both the
markets and used both the product development cost and market entry into account.
Activity Budget
New Product Development
Research & Business Case $50,000
Development $100,000
Testing $50,000
Brand and product marketing $100,000
Post Launch activity $20,000

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New Markets
Market research $200,000
Logistics and partnership $300,000
Franchise $10,00,000
Online brand marketing $30,000
TOTAL $18,50,000

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References
Aghdaie, M. H., & Alimardani, M. (2015). Target market selection based on market segment
evaluation: a multiple attribute decision making approach. International Journal of
Operational Research, 24(3), 262-278.
Bjerke, M. B., & Renger, R. (2017). Being smart about writing SMART
objectives. Evaluation and program planning, 61, 125-127.
Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp.
113-132). Springer, New York, NY.
Urde, M., & Koch, C. (2014). Market and brand-oriented schools of positioning. Journal of
Product & Brand Management, 23(7), 478-490.
www.globenewswire.com. (2019). Winter Wear Market is projected to Increase at a CAGR
of 5.8% During the Forecast Period (2018-2027) – Future Market Insights. Retrieved
16 August 2019, from
https://www.globenewswire.com/news-release/2018/12/05/1662332/0/en/Winter-
Wear-Market-is-projected-to-Increase-at-a-CAGR-of-5-8-During-the-Forecast-
Period-2018-2027-Future-Market-Insights.html