B brand is a women’s wear fashion retailer which is run by the family. The company is known for the fashion forward ladies wear and aims to target age group of 18-25. It has a strong media presence used to engage the target audience. The company has decided to make an international expansion. The brand has enjoyed a productive time in the market of UK and now looking to venture abroad (Macchion, et. al. 2017).
Marketing expansion is helpful to uplift profitability and revenue in the international market. This report outlines the expansion of the B brand in the market of Switzerland. The company wants to enter into the Switzerland market to struggle with the competitors globally. The marketing research and the surveys are conducted to implement the business in the new market. B brand can face key issues while entering into the international market (Möller and Parvinen, 2015). These key issues should be taken into consideration and are explained below:
Distance and time
Although the B brand can communicate overseas by internet and telephone. The technologies such as video conferencing desire to establish associations on a special level in other countries. The company also requires considering substantial speculation in the travel costs and key managers out of office for the prolonged periods (Luxton, Reid and Mavondo, 2015). The timezone differences also require to be considered while coordinating projects where association is obligatory.
Finding trustworthy partners
The company frequently forms relations with the suppliers in the markets where they are pursuing to enter. The company needs to hire sales reps based in Switzerland. Brand B need to engage local marketing and public relations firms to support them. Brand B does not have any prior experience in Switzerland and it is challenging to find trustworthy and competent people.
The business executives of B brand can face numerous barriers to active communication other than the language modifications. The outdated pace of business discussions can be diverse. The companies in the UK occasionally want to flurry consultations whereas in some other countries like European prominence is made on building relationships before any consideration of the business deal.
Identifying need of the target market
Identification of the need of the target market is one of the important factors which should be considered by the B brand while expanding in the market of Switzerland. It is key of success in offering products and services to the customers who have a compelling need. The company should focus on the needs of the customers to be solved and provide a solution in an effective way so that it provides benefits. It is not easy to identify the need of the customers in the foreign country (Moretto, et. al. 2018). But the proper research before entering in the foreign market makes convenient to understand the preferences of the customers.
Dilution of brand name power
The culture of Europe is well known through the globe. But it does not mean that the UK companies will be common will be popular if these are introduced in the European countries. It is a long and expensive process for a brand to establish itself in a foreign country and being aware. The company needs to invest its resources for years or even generations (Lueg, Pedersen and Clemmensen, 2015).
Cultural nuance
The customers are influenced by the media comprising print media such as a magazine. The company needs to first consider the culture of the country in order not to hurt the sentiments of the public. It is because what is considered funny in one culture can be alleged as funny in another. B brand requires accurate translation of the messages in the effective advertising. It necessitates a deep understanding of the culture, customs, morals and religious views of the company.
Recommendations to the chosen market with reference to global and international marketing frameworks
The external situation analysis can be conducted with the help of the Pest analysis:
Switzerland has a strong and diverse industrial base. It comprises large and multinational enterprises with a strong position in the global market niche. The SWOT analysis is effective in internal situation analysis:
Analysis of the competitive environment in the market of Switzerland for the women wear brand
Switzerland is an attractive market for foreign clothing companies. There is the presence of all the major brands for the women wear in the Swiss market. The producers in the Swiss are not protected from the import quota so they have to adjust as per the international competition. The imports of the clothing are conquered by countries like France, Germany, Italy and more.
The Swiss market is clearly towards fashionable apparel. There is the dominance of the US exporters who provide high-quality products. The emphasis is made on the US made products in the Swiss economy. There is a prospect of the brands that can charge middle price from the customers (Porcu, Del Barrio-Garcia, and Kitchen, 2017).
The market research is an effective method for the promotion and awareness of the brand. The accurate market research is helpful in finding the customer’s reaction. The internet and social media have become an easier way to enter to enter into the foreign economy and form presence there. Selling products is not easy; the research analyzes what the company wants to sell, where to sell, how to sell, how to create brand awareness and demand and how the brand is seen by the customers. The research requires time, financial resources, team and efforts (Lawless and Medvedev, 2016). B Brand can even outsource skilled market research agencies. These agencies are beneficial in providing detail information about the pros and cons of the market, opportunities, new product opportunities, previous year data analysis, competitors, players, and the other significant details. The market research is important in understanding how a brand can be positioned in the market of Switzerland.
Market potential: It is easy to find out the most favored marketplaces by availing services of the certified market research agencies in Switzerland. It can guide B Brand to concentrate on the geographical areas where more products can be sold and generated ample revenues.
Medium to sell: There are so many mediums from online to offline. The company is required to develop the most effective way in order to reach customers. The research is helpful in finding the most feasible methods to advertise, market, sales and revenues (Porcu, et. al. 2017).
Generating awareness and demand: The company cannot make a sale if the consumers are not aware of the product and services. The market research also helps in decreasing the financial burden of the business and helps in developing a cost-effective method for the promotion and awareness of the product.
Consumer perception: It is easy to find out the customers reaction to the product and services with the help of accurate market research. B Brand needs to make sure that the brand is accurately placed in the customer’s view and leaving no rooms for the chaos (Kumar, 2015).
The market research gives more insights about the future to a brand in a particular economy. It can help B Brand in preventing huge financial loss and provides further guidance for the potential markets. Although the process of market research is prolonged which requires precise analysis and investment the B Brand can avail agency service which is specific in providing precise and detail information.
Research identifies the new business opportunities and describes the biological hemisphere prerequisites to be sheltered. The market research generally aims to offer new ideas, judgments, and information for the marketing matches. These matches are found in the new business development other than the marketing, sales, import and export positions. The international market research offers an information base for strategic decisions along with competitive information (Ribisl, Leeman and Glasser, 2014. The objectives of the research in relation to the international market expansion are:
Improvement of the effectiveness of the products and services: The leading goal of the research is to advance the effectiveness of products and services. It is because more the brand grows, faster is learned and more effective company can become at producing new products and service offerings.
Strong competitive advantage: The market research aims at gaining a strong competitive advantage. It is easy for the B Brand to gain a modest advantage in the markets of UK. But it is challenging for the company to do so on the worldwide arena. Hence, the research helps to compete in the worldwide market and become a strong force in the industry (Krush, Sohi and Saini, 2015).
Consumer awareness of brand: The research can increase the consumer awareness of the brand. The consumers can keep track through the internet and social media of the progress of the company.
Reduction of the costs and increase in savings: The objective of the research for the B Brand is to reduce costs and increase savings. The company can achieve economies of scale by standardizing its process.
The methods suitable for collecting necessary information are given below:
Questionnaire and surveys: The questionnaires and surveys are the easiest way to get a lot of information from the public in a non-threatening way. The questionnaires and surveys are capable of getting lots of data and administer to many people. The expert advice can be taken by filling a questionnaire and ensures that questions are clear and have reliable ways of collecting and managing the data (Kaurav, 2015).
Interviews: The interview is the direct way of collecting necessary information. These are the possible method of getting full range and depth of information. It can be flexible and develops a relationship with the client. The interviews are capable of understanding customer’s impressions and experiences.
Observation: The observation is a way to gather information on how a women wear organization actually operates particularly about the processes. It views operations of the companies as they are actually stirring (Scuotto, Del Giudice, della Peruta and Tarba, 2017).
Focus groups: It is an effective method to get the complexity of material in a short time. It can deliver key information about the trends. It is reliable to get common impressions. It helps in understanding the common complaints and is useful in evaluation and marketing.
There are various ways in which a market can be segmented. B brand needs to decide the best strategy for the given product. The categories of segmentation are:
Geographic segmentation: The market can be distributed as per the consumers are situated in Switzerland. It has been noticed that women like more comfortable dresses than the lesser ones. The website of the local organizations of Switzerland’s can be visited (Chan, Ngai, and Moon, 2017). It helps in tailoring the strategies as per the customer’s preferability. Understanding the culture of Switzerland can be vital for business success. Consequently, the company is required to tailor strategies according to the customers. The geographic segmentation can provide B Brand a quick picture of consumers within an encircled area. It also takes into deliberation the climatic changes between the geographical units of Switzerland so that the brand can produce accordingly.
Demographic segmentation: The demographic segmentation is a prevalent form of isolating the market through the demographic variables. Understanding customers will permit B Brand to classify and comprehend their needs and wants. The consumers can be divided into groups based on the variables like gender, income, age, religion, social class, and family lifecycle. The company covers ladies of 18-25 who are fashion-oriented. This section is mostly bachelorette and mainly belongs to the middle to upper class. Additionally, this section earns a good income and spends more money on clothes (Smith, 2016).
Psychographic segmentation: This segment describes the purchasing behavior of the consumers, in this segment the markets are alienated into the sets based on the personality, lifestyle and values variables. The lifestyle comprises the culture and interest of the public. The personality includes factors like compulsive, ambitious and authoritative.
Behavioral segmentation: The consumer behavior is the dominant deliberation in the positioning of the products. It is an influential tool to enlarge business (Turker and Altuntas, 2014). This segmentation splits the customer’s group on the basis of their uses, knowledge, responses, and attitude towards products and services.
Targeting is the leading step in the process of retailing products and services. The segmentation strategy splits the target market into subcategories which are relaxed to manage. Targeting is the assortment of the potential customers to whom B Brand desires to sell products. The targeting comprises segmenting the market and selecting the segments of the market which are suitable (Kasemsap, 2018). It also determines the products which will be offered to each segment. B Brand can make use of 4 generic target marketing strategies:
Undistinguishable marketing: A single marketing mix is developed for the complete market. This strategy is convenient since the B Brand can develop a single marketing mix for the whole market. This strategy is appropriate as the single product has to be developed or expanded (Valos, Maplestone, Polonsky and Ewing, 2017).
Differentiated marketing: A precise marketing mix can be established which is a petition to all the sections. The differentiated strategy deeds the difference between marketing segments by ingenuous a precise marketing mix for each segment.
Emphasis targeting: This strategy is more suitable for the company with the partial resources because these resources can be strained if it contends in many segments. This strategy focuses more on the research and development to focus on the needs of the customers (Ceccagno, 2016).
Customized marketing: This segment focuses on the unique requirements of the customers. The purchasing power of the customers is enough to design a distinct marketing mix for each customer. The service providers like advertising, marketing research firms and architects vary their assistances on the customer basis. The customized marketing is linked with the close relationship between a supplier and customer.
The positioning is an attempt to set itself apart from other brands. It mentions to the place where a brand inhabits in the mind of the consumer and how it is distinguished from the competitor’s product. The positioning strategy gives identity to a company and its products make space within the minds of the target audience. The approaches to the positioning strategies are given below:
Using product characteristics: B Brand can focus on the characteristics of its women wear products. The company can explain its product quality, durability, economy or reliability. It is always alluring to try to position along the numerous product characteristics (Huang and Sarigöllü, 2014).
Pricing: There is a perception in the mind of consumers that if a product is exclusive will be a quality product and the product that is inexpensive in price is lower in quality too. B Brand is required to use quality approach and use as a product positioning. It can even charge more to cover higher costs.
Based on the application: B Brand can position woolens as a winter product. Whereas, the introduction of summer clothes can develop a positioning strategy for the summer months. Generally, this type of strategy is used to enlarge the brand’s market.
Based on the production process: This approach links product with its users. In this case, B Brand can introduce designer labels to develop a fashion image. The company can even reposition its product range as a routine wear. It can result in repositioning in market share.
Cultural symbols: B Brand can make use of cultural symbols to differentiate itself from competitors. The main task is to identify something which is very meaningful to the customers and is not provided by the competitors.
Based on competitors: B Brand can even use the similar positioning strategies used by the competitors or can take their strategy as a base. The company can offer family wear other than the women wears.
The integrated marketing communication (IMC) ensures that all the procedures of the communications and messages are allied together carefully. It integrates all the promotional tools. The IMC helps the company to gain competitive advantage, increase sales and profits along with saving time and money. It helps in increasing profits with the help of increased effectiveness. The IMC is important for the B Brand in order to market its products and services. It can make available multi-platform for the company. The components of the IMC are explained below:
Public relations: The public relations are useful to the B Brand in creating and fostering relationships with the publics which is important to the organization. It is very important for the company to form a relationship with the public in Switzerland in order to expand its business. The public relations are also helpful in building a credible reputation and favorable image (Wu and Tso, 2018). The media relations are one of the common forms of social media. The social media sites are effective in building a relationship and give a chance to be responsiveness. Since the company uses social media strongly in the UK to engage the target audience and expects same to apply in the market of Switzerland. The social media sites are important for the company as it makes easy to integrate with online and offline efforts and new product announcements (Ciani and Bresciani, 2018).
Advertising: The advertising is quite different from public relations and it can place messages in magazines, newspapers, TV and radio station. The advertisements are important for the B Brand as it allows reinforcing the messages in order to increase comprehension and retention. It is also helpful in directing people to the website of the company. It also supports sales promotions by broadcasting discounts or seasonal sales.
Sales promotion: Designing a sales promotion techniques help to integrate with other communication elements in order to keep messages cohesive and boost promotion efforts. The sales promotions can be helpful to the B Brand in retaining customers. An in-store sales promotion like week-of product guidance with the purchase of a product or the contests for the creative use of the product can be publicized through public relations (Caniato, et. al. 2015).
Direct mail: The direct mail is helpful to the B Brand in targeting specific or particular audiences. They can be of certain income level or within the defined geographical area. This strategy even implores action within the specific time period by making use of mail items like coupons or seasonal catalogs (Yang, Song and Tong, 2017). The direct mails are helpful to the B Brand in attracting customers by providing discounts and seasonal offers via direct mail. It is a popular method nowadays as customers feel they are treated individually and specifically.
Digital marketing and social strategy: A marketing program makes use of digital media and social branding. The digital marketing can be categorized into produced and paid media. The earned media can be used B Brand to gain loyalty and engage the audience. Whereas the paid media is a form of advertising and done directly in order to acquire an audience (Coste-Manière, et. al. 2018). The digital campaigns can maximize the use of available data.
The marketing mix is a set of marketing tools which can be used by the B Brand to pursue its objective in the target market of Europe. These are basically set of actions which can use by the company to promote its brand with the aim of market expansion in Switzerland. The marketing mix comprises 4Ps- Product, Price, Place, and Promotion (Holliman and Rowley, 2014). It also includes several other Ps like Packaging, Positioning, and People as vibrant mix elements. The B Brand can communicate their brand in the market of Switzerland with the help of the element given below:
Product: The products are the items which are actually being sold by the company. B Brand produces women wear in order to please the needs of the targeted group of the women aged 18-25. The company provides both comfortable and fancy clothing to the women. The B Brand should ensure that it has the right product and fulfills the demand of the market of Switzerland. There is a difference in the culture of UK and Europe. In order to fulfill the demand of the local public, the company is required to conduct extensive research on their servings (Brito, et. al. 2015).it should contain the features needed by the clients.
Price: The price of the product is essentially the amount which can be charged by the B Brand. It is a very significant element of the marketing mix as it regulates the company’s profit and existence. The price greatly marks the sales and demand of the products. For instance, it is not necessary that the cheap prices can attract more sales; cheap prices sometimes reflect cheap quality also. So, the B brand is needed to set higher prices in order to provide good quality. Hence, good quality attracts a great number of customers (Fan, Lau and Zhao, 2015). In the culture of Europe, women are well dressed and like to spend a good amount on fashion clothes. B Brand should consider three marketing strategies such as market penetration, market skimming, and neutral pricing.
Place: The place is the most important part of the marketing mix. The place was chosen by B Brand to expand its market in Switzerland. It is easily accessible to potential buyers. This market is chosen by the company because the major segment there is women’s and girl’s apparel. It has a market capacity of US $164,642m in 2018. This market is even probable to grow annually by 1.8%. The marketing is even operated at the wholesale and retail level. The company can sell its products at retail and wholesale prices. The internet has become an increasingly significant retail outlet in Switzerland. The company can make use of the websites and sell products online. The company has already attained expertise in selling products online in all over the UK. So, the company can make use of the social media platform in Switzerland and can attain maximum profits. The company can even make use of franchising to expand its market share (d’Avolio, Bandinelli, and Rinaldi, 2015).
Promotion: Promotion enhances brand recognition and sales. It comprises elements like public relations, advertising, and sales promotions. The advertisement has taken a shift from offline to online. The public relations include exhibitions, press releases, seminars, conferences, and sponsorships. In order to be an effective promotional strategy, the company is required to focus on best time to promote products, best usage of social media in promoting products and the promotion strategy of the competitors (Alharbie, 2015). For instance, B Brand can provide special discounts on the occasions like Christmas, Easter, New Year, birthday and anniversaries.
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