Marketing is very crucial segment of every business and for performing this duty a set of talented people are appointed who could represent the organization in the outer world effectively and efficiently. As they are the person who represents the organization in the market, so they should be loyal with your job. Marketing has a wide range of strategies through which an organization can build up the decent place in the dynamic environment of the business (Doole & Lowe, 2008).
Business is a full of risks and uncertainties and without risks, business is none except an organization which is very dealing with customers for a reasonable margin of profit. In the business environment, there are a lot of various factors which affects the performance of the organization (Rastogi & Trivedi, 2016).
There are a number of factors present in the environmental analysis of international marketing:
Competitor analysis could be done in various aspects of the business. Analysis could also be done in the almost all departments of the business environment. Not only competitors compete with each other whereas there is lot of other areas in which competition exists (Lamb, et. al., 2012)
For instance, couple of organization exists in the local market who manufactures same kind of materials. They both were competing with each other and all the rest activities were also performed in the healthy competitor environment. Afterwards, another company came from the international market and that was also manufacturing the same product in comparison to the local markets. And the international company was producing more qualitative products at the same rates in comparison to the local organizations. Hence, competition for the local organization increases as well as international organization will also need to maintain the quality of the products.
Price of the product plays a crucial role in the competition market whereas other factors like quality of the product, after sale service of the product and other areas which are directly or indirectly linked with the product will also be considered in the key competitors’ components (McDougall, et. al., 1994).
Market trend determines the groups of the people who lives in or exists in the market. Companies who exist in the market are known for manufacturing some specialized products. In the market both terms are compulsory because without consumers, organization cannot survive in the world, whereas only consumers in the market would also not be able to consume different kinds of products (Baalbaki & Malhotra, 1993).
Companies select their segments amongst the whole public and according to the market demands and market trends; products are manufactured as per the requirements of the consumers. For instance, a company is planning to open a store for the products which are highly demand by the consumers, as per their demands, products are manufactured and this is not compulsory that all the products suit all the age segment people. For this selection of the age segment amongst the public of the city/country/state, analyzing consumer demands are very important.
Different companies produce different kinds of products to meet with the consumer’s various demands. In the current marketing environment, people have lots of demands and with that they also wants to consume lot of different services and for the fulfillment of those demands, companies select the market segments and produce goods as per the requirements of the consumers.
Strengths · International companies need to evaluate its objectives and goals to achieve and for achieving those goals and objectives, organization need to determine all kinds of market conditions. · They have the better technologies that help them to build the strong and competitive products (Valentine, 2005). |
Weaknesses · Organization need to use its internal and external resources of the organization to cover up the weaknesses of the organization over its strengths. · Every organization needs to overcome from its weaknesses so that adequate efficiency could be extracted from the performances of activities. |
Opportunities · International companies have the opportunities to overcome from their weaknesses to build the strong position in the market. · International companies needs to produce the goods as per the requirements of the country in which migrating company is planning to set up (Sivadas & Dwyer, 2000). |
Threats · International companies could have the threats of settling down in the other country’s market. · Dealing in the competitive market could also result in the threat for the companies. |
Gap analysis is the evaluation of the challenges that an international company needs to face while migrating from its source location to the other country for a specific purpose like for growing or for taking over the other organization. Some of the main challenges that a company needs to face are:
Business objectives results in the making appropriate and effective targets through company could achieve satisfactory profit that helps the organization to build the appropriate place and goodwill within the market. Making targets and goals for the organization is also crucial in terms of performance of the activities because employees will get to know about the destination and as per that destination, they will put their efforts to reach their using effective way (Westwood, 2002).
Setting targets is crucial for both new businesses as well as for the old business that are planning to expand their business. Every organization develops its objectives so that adequate profit could be achieved. Marketing activities are also necessary to achieve the organizational objectives because they promote the products of the organization in the open market and this is very useful to make awareness in the public regarding the products (Doyle, 1994).
Important goals and objectives of the organization are:
Marketing strategy evaluation is the process of analyzing the regular activities marketing related activities so that adequate effectiveness could be measured. It is the final stage of the marketing plan and it analyzes the effectiveness of the implementation of the marketing plan (Chung & Enderwick, 2001).
This is a set of plans through which effective plans are developed to make the smooth entry of the company into the other country’s market. Peters Meats are also implementing the same market strategies so that they could make the better and effective place in the other country’s market to deal with its competitive firms and it also helps in developing some innovative and unique ideas that helps the Peter Meats to survive and build an effective place in the competitive market (Andersen, 1997).
An effective market entry strategy helps the organization to deliver its products and services in the targeted market or in the global market. This strategy helps in the development of the efficient contracts with the distributors and the other relevant departments to build the appropriate marketing strategy in the competitive environment of the market.
This strategy includes some important factors that should be adequately analyzed so that entry of the Peters Meats could be made very smooth and these factors are:
Every organization needs to prepare an alternative plan, strategy, method so that if plan ‘a’ fails, organization’s activities do not get much affected. Market entry strategies could be kept simple through analyzing the demands of the consumers and as per the requirements of the public, adequate products are manufactured.
Some of the main relevant and alternative market entry strategies are as follows:
From these three market entry strategies, best option would be franchise because in this strategy, no need of investing any kind of capital or men power infect revenues are also generated from the use of this particular strategy. As per the Peters Meats also, they can use franchise strategy by allowing some other reputed business men to use their brand name and all the raw materials and other stuffs which is required in the manufacturing of the product would also be make available to the franchise owner.
As per the requirements of the Peters Meats, best market entry strategy in the other country would be franchising because this is a good and reputed brad within the local market of the particular country’s market.
This strategy would be effective as it will save money and time for the company as well as it will also generate some revenues for the organization so that the organization could be able to make its effective position in the local market of the country (Buckley & Casson, 1998).
For instance, ‘MacDonald’ it is a big brand which is known for its burgers, other kinds of fast food and they have creates a big impact all over the world through franchise only. Source location of this outlet is US and after that it is situated in almost all parts of the country and as per this they are generating revenues without investing a single penny as well as they have also created a strong goodwill all around the world, their burgers and other stuffs are much demanded amongst the youngsters and it is also popular in the other age group of public also.
Peters Meats’ management need to analyze all kinds of advantages as well as disadvantages of this market entry strategy so that all management could think over this strategy before bringing this into implementing in the business’ environment for its expansion in the international market. This strategy anyways requires a huge promotion across the country’s places in which franchised stores are opening so that public of the particular place could be aware about the certain store.
Competitive advantage is the stage in the market in which certain number of companies exists and they all are dealing in the same kind of products and due to that customers are divided as per the choice of the consumers only (Noe, et. al., 2006).
Market positioning is the strategy through which consumer’s mind is diverted towards the particular brand. Marketing team performs this strategy and this helps the organization to spread awareness of the brand, product of the particular company.
This is the advantage for every firm to deal with the different types of consumers in the same market and this is also effective in maintaining the quality of the products so that consumer could not get a chance to divert to some other brand.
Having competitive market is also useful in reducing the impacts of monopoly and consumer has a lot of choices to adopt any of the brand’s products to consume and he/she can also change his taste if he/she gets bored by using same products since a very long time. Another main advantage of competitive market is that they cannot increase prices of their products without any reason, if any one company increases the prices of the products, consumers will diverted to the other brand. So, increasing or decreasing the prices of the products or any other important decisions is taken by all the companies together to reduce the chances of the diverting of consumers.
Peters Meats also have the same advantage in launching its store in the local market of the other country (Argote & Ingram, 2000). This company mostly targets the rich or wealthier segment of the market. Targeting this section will provide a competitive edge in the market as they can pick a multitude of customers who belong to the higher income groups. Therefore the company will also require having a competitive strategy to position the brand in Chongqing as there are several local companies existing in the market and the other international companies targeting the market. In order to do that the company will have to adapt few strategies if the company wishes to have the competitive edge within the market. The company would also have to customize its products for matching the preferences and tastes of the domestic market and the buyers. Also it is essential to include the customized marketing strategy in order to fit the particular market segment. The company should also locate the specific production facilities, consumer service operations and the distribution centers so that it can indicate the great advantages of the locations. Also Peters Meat should focus on transferring the existing strong resources and the capabilities of the company for securing the competitive advantage.
Buyer criteria |
A |
B |
C |
Quality |
5 |
6 |
8 |
Price |
4 |
7 |
2 |
Hygiene |
9 |
4 |
6 |
Country of Origin |
8 |
2 |
7 |
(Buyer Criteria for the Meat Industry in China)
In this table A refers to the local or domestic competitors, B refers to the international competitors and C refers to the most effectual competitors within the market)
As per the basic idea of the Peters Meats, they basically deals in the all verities of meats and they are specialized in selling good quality stuff. Their marketing team has analyzed some strategies to promote their products in the international market effectively. While promoting the products of the Peter Meats, marketing team analyzes that the company should be set up in the country in which demand of the products are much high in respect of the other countries (Romaniuk, 2012).
While performing the market positioning strategy, team members of the marketing department of the Peter Meats analyzes that demand of verities of meats are much more in the Muslim and English countries in respect of the some countries of Asia continent. After reviewing the demand of the products in the international market, they planned to set up their store in those countries through using effective marketing strategies so that adequate awareness could be spreader among the different segments of the public of the country (Chen & Uysal, 2002).
References
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order formOnce we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignmentAs soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download