Oliver Bonas: Developing a Marketing Strategy for the Indian Market

This report provides a detailed analysis of Oliver Bonas's potential entry into the Indian market. It begins with an overview of India's economic landscape and its attractiveness for UK businesses, particularly in the fashion, jewelry, and gifts sector. The report then employs PESTLE and SWOT analyses to evaluate the macro and micro environmental factors influencing Oliver Bonas's business prospects in India. It proposes an exporting market entry strategy as the least risky approach, followed by an STP (Segmentation, Targeting, and Positioning) approach to identify and target the appropriate customer base. The target audience is defined as females aged 20-45 who appreciate fashion, jewelry, and gifts. Finally, the report outlines a 4Ps marketing mix framework, focusing on product offerings, value-based pricing, distribution channels, and social media-driven promotion strategies. The conclusion emphasizes the importance of international marketing for Oliver Bonas's global expansion and highlights the tools and strategies discussed for successful implementation.

International Marketing

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................4
1. Non UK country- INDIA.........................................................................................................4
2. PESTLE analysis ....................................................................................................................4
3. SWOT analysis .......................................................................................................................5
4. Market entry strategy...............................................................................................................6
5. STP approach- Target audience ..............................................................................................7
6. 4ps marketing mix framework ................................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
To be successful in this business environment, companies needs to focus on international
marketing which is all about the application of marketing principles by industries in one or more
than one country. The present report will be based on Oliver Bonas which is one of the leading
online department store for jewellery, gift shopping, furniture, dresses and fashion (Brown,
2021). As we all know that nowadays, it is possible for companies to enter into market and
conduct business in any country all over the world, this is just because of international
marketing. But they need to focus on some important aspects such as macro environment before
entering into the international market. The study will outline the most appropriate marketing
strategy and target audience, marketing mix for a retail brand launching a new international
market.
The internationalisation of retailer Oliver Bonas
1. Non UK country- INDIA
In terms of GDP, India has the world's sixth largest economy and good purchasing power
in the world. Talking in relation with global economy, India is one of the fastest growing country
in which new emerging players are born to beat heavy competition in the market. Nowadays,
many UK companies are expanding their business in India, the reason behind that is this country
employs nearly 28.6% of the total population. As Indian people love to shop fashion, jewellery
and gifts for their loved ones, this creates a great opportunity for Oliver Bonas to expand its
business in India (Dey and et.al., 2021).
2. PESTLE analysis
Political factors
 The political environment of India can
impact the business performance of the
company such as changing government
polices, taxation system, sales tax etc.
however, government is encouraging
privatization in India where businesses
Economic factors
 Economic stability of country is very
important so before implementing any
strategy, Oliver Bonas needs to keep
track on inflation rate, interest rates,
foreign exchange rates in Indian
market. Reduction in industrial

can be run smoothly through variety of
programs.
licensing has resulted in a constant
improvement of business environment
in Indian economy.
Social factors
 social trends, customer buying
behaviour, cultural trends and
demographics are some social factors
which can impact business performance
(Strategic planning for business
growth. Pestle analysis, 2022). Rise in
ageing population of India and
increasing cultural trend can impact
Oliver Bonas business as people are
changing their purchasing behaviour on
basis of income level.
Technological factors
 Technology is influencing the product
development the country have strongest
IT sectors in the world so, before
implementing any strategy Oliver
Bonas needs to focus on technological
advancement to attract Indian
customers such as online shopping, less
delivery time etc.
Legal factors
 Company needs to focus on legal
aspects and follow all the rules and
regulations related to consumer laws,
labor laws and health and safety
standards otherwise it may impact
business.
Environmental factors
 As people of India is becoming more
environmental conscious nowadays so
company needs to follow all the
environment related policies to
maintain sustainable and take CSR
initiative such as reducing carbon
footprint, wastage management etc
because India has been adversely
affected by globalization and
industrialization which results in waste,
health problems and pollutions
(Strategic planning for business
growth. Pestle analysis, 2022).

3. SWOT analysis
Strengths
 Provides wide range of fashionable
products to customers with good
quality
 Use effective marketing techniques to
engage customers.
 Have skilled workforce at their stores
Weaknesses
 Heavy competition is increasing in
retail fashion and beauty industry.
 Losing profit margins in few areas.
Opportunities
 Increasing technology trends can help
company grow their digital presence in
the world of beauty and fashion
industry.
 Further international growth and
development
Threats
 Changing policies relating to
international expansion and changing
demand in the market due to social
factors is a threat for company
(Benzaghta and et.al., 2021).
4. Market entry strategy
Exporting- this is the most commonly used and easiest way to enter an international market
(İpek, 2019). By using this method, Oliver bonus can begin their international expansion in
which they can sale their products in Indian markets that are sourced from the home country UK. Benefit- government support and increased market share, profits and competitiveness.
 Drawbacks- fluctuations in currency and political disruptions is one of the biggest
challenges.
Franchising- the basically, it is an arrangement or you can say deal between a franchisee and
franchisor to sell the products or services by using franchisor name and idea. The franchisee in
the India can buy the right to sell the Oliver bonus products or services under an existing
business model. Benefits- it helps to build customer loyalty, efficient growth, increases brand awareness
and attract more customers.

 Drawbacks- the company have to go through long approval process which is time-
consuming and require initial cost.
From the above mentioned marketing strategy, exporting is the best way of entering the
international marketing the main reason behind choosing this method is that it is less risky.
5. STP approach- Target audience
Segmentation- Oliver bonus will segment its customers on the basis of demographics
and psychographics in which they will focus on age, gender, income, household, attitudes,
lifestyle and personality of customers. By using survey method the company can gather data of
customers to help form their profiles for next step that is targeting.
Targeting- the company is going to target females in India who loves to shop gifts,
jewellery, dresses aged between 20-45 years old.
positioning- as people are spending more time on social media platforms and searching
online for fashion, clothing and furniture as they prefer to buy everything online, the company is
going to position itself into the international market by using social media marketing to reach its
target audience (Morgan and et.al., 2019).
6. 4ps marketing mix framework
Product
 All the products such as dresses,
homeware, furniture, fashion and gifts
are available at the offline and online
department store of the company (Lim,
2021).
Price
 The company is following value based
pricing strategy in order to attract
customers as this method focus on
customers perceptions of value rather
than costs of company to set price.
Place
 The customers can buy products from
its physical and online store both. The
firm has good distribution network for
delivery of packages.
Promotion
 The firm is using social media
marketing via Instagram, Facebook and
YouTube, advertisements, SEO and
television ads to promote its brand
name (Thabit and Raewf, 2018).

CONCLUSION
To conclude, international marketing will help company to promote sales of their
products or services in global markets and multiple location in the country in which the firm
needs to expand. To be successful, Oliver bonus needs to use tools like pestle and swot analysis
to identify its micro and macro environment so that they can target audience easily and
marketing mix to promote its brand name in the international market. From the report it has been
concluded that, With the help of effective method like exporting company can sell its products to
another country for sale.

REFERENCES
Books and Journals
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies. 4(4).
Lim, W. M., 2021. A marketing mix typology for integrated care: The 10 Ps. Journal of
Strategic Marketing. 29(5). pp.453-469.
Benzaghta, M. A. and et.al., 2021. SWOT analysis applications: An integrative literature
review. Journal of Global Business Insights. 6(1). pp.55-73.
Dey, B. and et.al., 2021. Comprehensive overview and proposal of strategies for the ethanol
sector in India. Biomass Conversion and Biorefinery, pp.1-32.
Brown, V., 2021. Is coolness still cool?. Journal for Cultural Research. 25(4. pp.429-445.
Morgan, N. A. and et.al., 2019. Research in marketing strategy. Journal of the Academy of
Marketing Science. 47(1). pp.4-29.
İpek, İ., 2019. Organizational learning in exporting: A bibliometric analysis and critical review
of the empirical research. International Business Review. 28(3). pp.544-559.
Online
Strategic planning for business growth. Pestle analysis. 2022. [online]: available through
<https://www.nibusinessinfo.co.uk/content/pestle-analysis-example>