International Marketing Strategy Report: YOKKO Fashion's Spain Entry

This report provides a comprehensive analysis of YOKKO Fashion's international marketing strategy, focusing on its potential expansion into the Spanish market. The report begins with an introduction to international marketing and its significance for YOKKO, a Romanian fashion retail store. It then delves into key marketing principles, including the 4Ps (Product, Place, Promotion, and Price), consumer buying behavior, and cultural considerations specific to the Spanish market. Furthermore, the report examines market entry methods, specifically highlighting the application of Ansoff's Matrix and its market development strategy for YOKKO. The report also applies Porter's Five Forces model to assess the competitive landscape and profitability within the retail industry. Finally, the report explores the STP (Segmentation, Targeting, and Positioning) framework, offering recommendations for YOKKO to effectively position itself in the Spanish market. The report concludes with a summary of findings and references supporting the analysis.

International
Marketing Strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing Principles...................................................................................................................1
Consumer Buying Behaviour......................................................................................................2
Culture.........................................................................................................................................2
Market Entry Methods................................................................................................................2
STP..............................................................................................................................................4
CONCLUSION ...............................................................................................................................4
REFRENCES ..................................................................................................................................5

INTRODUCTION
International marketing is basically a process in which adjusting several marketing
strategies is essentially very important for a company to effectively adopt the prevailing
conditions of other countries. This process basically aims at planning, positioning, creating, and
promoting potential products of a respective company globally. This report is based on YOKKO
fashion retail store which was established in 1997 under Romania (Bowie and et.al., 2016).
Currently the company is planning to expand its business operation in Spain market. Moreover,
the outcome of this report is based on four p's of marketing, customer buying behaviour, STP,
ansoff's matrix as well as porter's five force model.
MAIN BODY
Marketing Principles
It usually focuses on marketing ideas which a company shall adopt in order to effectively
sale into potential market. These principles are generally based on marketing strategy
implemented by an organisation so as capture a reasonable market share globally (Ghauri and
et.al., 2016). In order to do this appropriately 4P's strategy is adopted. Wherein four p's basically
includes the following:
 Product: YOKKO is fashion retail organisation which basically provides wide range of
fashionable clothing for women. It primarily includes: dresses, jumpsuits, jackets, skirts,
trousers and several other product.
 Place: In Romania YOKKO have total 12 stores which provide good quality of clothing.
Currently the company is planning to enter Spain market in order to increase the overall
profitably.
 Promotion: YOKKO fashion store follows several promotional strategies in order to
effectively carry out their business operation. Through promotions only the potential
customers are attract towards a particular brand (Gillespie, 2015). Currently in order
effectively expand business under Spain market, company shall adopt social media
promotional strategy.
 Price: YOKKO basically follows moderate pricing strategy in order to capture
reasonable market share. However, in order to make the expansion successful under
Spain, company shall adopt penetration pricing strategy.
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Consumer Buying Behaviour
It is the result of preferences, intentions, attitude as well as decision made by consumer in
market before purchasing a particular product. Moreover with references to Spanish consumer
they are not necessarily loyal to a particular brand and their demands usually changes with vast
rate (Hernández, Moreno and Yañez, 2016). Therefore, before entering under Spain market
YOKKO should effectively conduct a proper analysis in order to identify the expect ions of
people.
Culture
Proper cultural analysis should also be conduct by YOKKO fashion store in order to
identify the lifestyle which is followed by people living in Spain. This is very essential to
understand exact demand of the consumers. Through this evaluation, only the respective
company understands the cultural which is followed in a particular area.
Market Entry Methods
Ansoff's Matrix: Ansoff's matrix proposes several strategies which an organisation shall
adopt in order to attain the desired growth objective within the specified period of time. The aim
focus of Ansoff's Matrix is to accelerate the growth through adopting of a particular strategy.
Following are the strategies which are included:
 Market Penetration: Under this marketing strategy the prime objective of firm is to
increase its overall market share. It can done by decreasing the prices of the product so
that new customers towards the brand are attracted.
 Market Development: Under this strategy the respective company shall enter into new
market so that their overall market share tends to increase. This expansion usually
impacts the business organisations positively.
 Product Development: This strategy usually focuses on introducing a wide range of new
products into the potential market. Through adopting of this strategy customers will be
attracted towards the new product launch, which directly increase the earnings.
 Diversification: Under this marketing strategy the company usually makes a new
product and enters into new market in order to enhance its overall market share. This
strategy is usually effective for well established business organisation.
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However, with references to YOKKO the company shall adopt market development
strategy effectively. Through implementation of this strategy YOKKO can successfully establish
there business operation in Spain market. This expansion will help the respective company in
enhance its overall market share and productivity (Wu, 2016). Moreover marketing development
can be effective can by adopt franchising form business in order expand the company's business
under Spain market. Under franchising is concept which is usually adopted by a company for
business expansion.
Porter's five force model: The aim motive of this model is to effectively analyse five
industry forces which helps in determining intensity of competition an industry faces and its
level of profitability (Zailani and et.al., 2015). Following are the forces:
 Threats of Entry: A power of an organisation is usually affected by the forces of new
entrants. If less time and money is required to entry a particular market then competitors
captures the market share. YOKKO faces huge issues in some context because
competitors easily enters into retail organisation. This significantly weakens the position
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Illustration 1: Ansoff's Matrix
Source: What is the Ansoff Matrix? 2019.

 Bargaining power of suppliers: This forces determine how the suppliers can drive up
the cost of inputs produced by them. YOKKO have high bargaining power because there
is huge availability of suppliers in the potential market.
 Bargaining power of buyers: This refers to a power under which customers usually
forces to drive down the prices of the products. YOKKO can not reduces its prices.
 Threat of Substitutes: If there are several competitors and they sell substitute product in
the market then also the profitably of an organisation is impacted. Huge amount of
competition is faced by YOKKO because there are several companies which provide
similar products.
For every organisation evaluation of porter's five force model is very essentially. This
because through this model potential competitors and profitability of a company is effectively
identified.
STP
It is an important concept which is usually used a company when it is expanding its
business operations in other parts. It aims at creating a link between overall market and ways
through it will compete.
 Segmentation: This a process under which YOKKO shall aim at splitting Spain market
into smaller groups who have similar product needs. This is usually undertaken to
appropriately target a particular market share.
 Targeting: Under this YOKKO fashion store shall proactivity selected a suitable
segment with intension of focusing on several marketing strategies which effectively
attract the selected consumers.
 Positioning: This process under which YOKKO fashion store effectively adopt several
ways through which the company can create a distinctive position under Spain market.
CONCLUSION
From the above report it can be concluded that it order expand business operation
internationally there several strategies which an organisation usually analyses. Through this
analyses a proper and best strategy is selected so that the expansion becomes successful.
Furthermore, it is essentially very important for an organisation to understand the marketing
situation of the country where the respective company is planning to expand its business.
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REFRENCES
Books & Journals
Bowie, D. & et.al., (2016). Hospitality marketing. Routledge.
Ghauri, P. N. & et.al., (2016). Corporate social responsibility in international marketing: review,
assessment, and future research. International Marketing Review.
Gillespie, K. (2015). Global marketing. Routledge.
Hernández-Perlines, F., Moreno-García, J., & Yañez-Araque, B. (2016). The mediating role of
competitive strategy in international entrepreneurial orientation. Journal of Business
Research, 69(11), 5383-5389.
Wu, C. W. (2016). The international marketing strategy modeling of leisure farm. Journal of
Business Research, 69(4), 1345-1350.
Zailani, S. & et.al., (2015). Drivers of halal orientation strategy among halal food firms. British
Food Journal, 117(8), 2143-2160.
Online
What is the Ansoff Matrix?. 2019. [Online]. Available through:
<https://corporatefinanceinstitute.com/resources/knowledge/strategy/ansoff-matrix/>.
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