The present scenario of smart watches is segmented in the market by the nature of smart watches which are bought by the people namely Ultra-Premium, Premium, Standard and Fitness and Wellness. The customers choose smart watches based on features, style and price. A smart watch can also provide important information and notifications to the doctors regarding the health condition of patients (Schaper et al. 2014). Smart watches are in tandem with the modern day scenario and technologically advanced times.
The aim of this particular study is to understand the foreign market that is the prospects for the export of smart watches in the country of Southern Arabia. The report aims to create a proper marketing plan based on the conditions of the market and acceptability of the product. The conditions in Saudi Arabia are to be studied in order to market the product effectively and make the export procedure a success. The aim of the export of high end smart watches is to gain a fairly significant market in the new country that is Saudi Arabia (Dawid et al. 2017). The competition in the market needs to be analysed to succeed over the existing competitors if any.
The scope of the project report aims to clearly analyse the project planning which involves the determination and documentation of a list of specific project goals. In this case it relates to the analysis of the market. The report covers the analysis of the market in this case the market of Saudi Arabia. The business analysis of the product export is to be calculated. The need of smart watches in Saudi Arabia needs to be understood and the marketing plan needs to be formulated accordingly (Agnihotri et al. 2016).
Another important part which is included is the evaluation of the product in the export market. In the present report, the actual need for the smart watches is to be understood in the country of Saudi Arabia (Foxall 2014). The evaluation of the need of smart watches is to be understood. The possible competition in the area needs to be understood and the promotional activities of the watch also need to be looked into.
Saudi Arabia that is officially referred to as Kingdom of Saudi Arabia (KSA) is essentially a self governing Arab state located in Western Asia comprising of the bulk of the Arabian Peninsula. Essentially, with the land area of around 2150000 km2, the nation Saudi Arabia is the largest state in Asia geographically and second largest state in the entire Arab world. The nation Saudi Arabia is primarily encircled by Jordan as well as Iraq towards the north, with Kuwait on the north east, plus Qatar, Bahrain as well as the United Arab Emirates (UAE) to the eastern side, Oman in the southeast direction and Yemen to the southern side. In addition to this, it is detached from the nation Israel and nation Egypt with the Gulf of Aqaba (Sheth and Sisodia 2015).
The nation Saudi Arabia possesses approximately 20% of the world’s proven reserves of petroleum, positions as the greatest exporter of petroleum, and plays an important part in the Organization of Petroleum Exporting Countries also simply referred to as OPEC (Armstrong et al. 2015). The petroleum industry accounts for approximately 80% of budget revenue, roughly 45% of GDP and 90% of export income.
|
Particular |
2011 |
2012 |
2013 |
2014 |
2015 |
|
Population (million) |
28.37 |
29.2 |
29.99 |
30.77 |
31.52 |
|
GDP (in billion US$) |
671.24 |
735.97 |
746.65 |
756.35 |
654.27 |
|
GDP (for per capita in US$) |
20575.5 |
21056.3 |
21005 |
21183.5 |
21508 |
Population growth: The population of Saudi Arabia is approximately 33 335000
Population growth rate: 1.49%
Birth Rate: 18.78 births
Life Expectancy: 74.92 years
-Male: 76.89 years
-Female: 78.94 years
Rate of Fertility: 2.17 children that are born for every woman
Infant Mortality: 14.58 deaths for every 1000
Structure of Age:
Age between 0 to 14 years: 27.6%
Age between 65 years and over: 4.2%.
Sex ratio:
At birth: 1.05 males for every female
People under 15: 1.05 male for every female
People between 15 to 64 years: 1.22 male for every female
Spoken Language: Arabic
|
Strength -Largest Arab state with high GDP growth rate and higher purchasing power that can provide a good market base -Innovative design -Cost effective and simultaneously premium quality (Foxall 2014) |
Weakness -Entry in a new market -Initially low margin of profit (Sheth and Sisodia 2015) |
|
Opportunity -Generating demand for superior quality product -Generating higher job opportunities for people in Saudi Arabia -Altering customer requirements or else preferences (Agnihotri et al. 2016) |
Threat -Acceptance of the company’s product in the new market -Swift change in technology -Alteration in the needs of the customers |
Political Environment: Saudi Arabia formally referred to the Kingdom of Saudi Arabia can be regarded as the largest Arab state in terms of area of land. Essentially, the Kingdom of Saudi Arabia is necessarily a monarch that is governed by King Abdullah. Fundamentally, this nation is ruled by politically stable and undergoing political restructuring although in a slow speed (Foxall 2014).
Economic Environment: The economy of Saudi Arabia behold appropriate rate of growth and is anticipated to arrive at higher rate of growth in the upcoming period. The nation’s economy is referred to as high income and can be considered to be the largest one in the area of Middle East. It can be hereby mentioned that Arabia has a specific edge with strong economical strength as well as weak opposition pattern (Sheth and Sisodia 2015). Yet another issue of the nation is an unbalanced association between the public and the private sector remain together.
Social Environment: The Al Saudi Family asserted that they are committed to uphold the nation’s economic growth and be a part of the developed countries. In contrast, this political situation necessarily affects the industry of smart watch positively as this specific industry remains majorly uncontested in the market of Saudi. In particular, in terms of law, al smart watch industries have the need to possess single as well as family section with segmentation of male and female segment delineated in order to adhere to the tradition as well as religious necessities (Armstrong et al. 2015).
Technological Environment: Presently, Saudi Arabia is necessarily turning out to be more focussed on technology. The expenditure on nation’s connectivity as well as human resources has been enhanced. However, with the ever increasing growth of private sector, systems with advanced as well as innovative technologies are being established (Hollensen 2015). Proper efforts are also put in order to make IT an integral section of the Saudi Arabian education system.
Behaviors
1)Target Segment Name: Trendy Sportsperson and athletes
Percentage: 23%
Demographics – 15-29 years, single, male/female
Behaviours: Educated secondary school and above.
2)Target Segment Name: Evolving Juniors
Percentage: 22%
Target Segment Name: Balanced Seniors
Percentage: 21%
Target Segment Name: Medical or elderly education
Percentage: 11%
Target Segment Name: Women for the purpose of safety
Percentage: 10%
Target Segment Name: Travellers or adventurers
Percentage: 14%
The smart watch market can be said to be in nascent stage, despite elevated attention from the technological giants to carry out the wave of technology innovation. There are several barriers to particularly mass adoption.
Price: In essence, no clear value proposition is there for justification of a high point of price.
Look: Inadequacy of fashion appeal in a bid to undertake customer adoption.
Eco-system associated to app: Restricted separate apps and this limits functionality (Steck and Tan 2016).
Smart watch continues to be a challenge due to different product classification that necessarily cater to diverse niche areas that are sports, automotive as well as fitness and ,any others (Verhoef et al. 2017). Analysis of smart watch market reveals that there is impressive approximated market size growth. It can be estimated that smart watches reflect only 3% of the total customer electronics expenditure by the year 2018.
As smart watches can probably be decoupled from present mobile devices, therefore, it is not expected that various smart phone makers of 2nd tier or else other autonomous brands can might emerge and compete with companies such as Apple as well as Samsung (Angell and Kraemer 2015). Essentially, it can be believed that Samsung as well as Apple can continue to rule the space of smart watch. The main competitors of smart watch in the market of Saudi Arabia include:
– Samsung Galaxy Gear:
It established the first and foremost foray of particularly the big four into this specific wearable tech space. Essentially, in the initially the Samsung Galaxy Gear is now compatible with different other Samsung instruments namely Galaxy S4, Galaxy S3 as well as Galaxy Note II (Porter and Heppelmann 2015). In essence, the company announced that shipments of the Galaxy Gear crossed the mark of 800000 in the initial 2 months of the establishment of the instrument.
Advantage and disadvantages:
Sony Smartwatch 2:
This marked the third attempt of the company Sony into the space of wearables that suffers from majority of the drawbacks that also afflicts their peers
Advantages and disadvantages:
The Pebble Smartwatch:
This company provides a tailored as well as Bluetooth enabled product that again can wirelessly connect to the users of the phone (Morrison et al. 2015). Essentially, the pebble smartwatch acquired popularity by means of huge success of the Kickstart campaign in which the project rose over approximately $10 million in around 37 days.
Advantage and disadvantages:
Competitive Comparison
The export company intends to follow sustainable competitive benefits:-
-Use of advanced German technology, level of proficiency as well as reputation of the firm
-Superior quality smart watch made available at a comparatively moderate price
-Elegant as well as use of ergonomic style
-Dedicated German workers (Chuah et al. 2016).
-Superior skills of marketing
Main beneficiaries can help in carrying out competitive comparison. The key beneficiaries primarily from the smart watch notion helps in understanding the smart watch models. Essentially, models of smart watch vary in various types of components utilized, and this subsequently rely on the overall functionality as well as price of the instrument. Nevertheless, main enablers of this specific wearable tech for example, BLF as well as sensors can be considered to be ubiquitous in different wearable instrument (Park et al. 2016). Therefore, diverse connectivity players that is to say, (BLF plus WiFi) essentially stand to acquire advantage from the proliferation of diverse wearable instrument as well as smart watch in specific.
Furthermore, tracking fitness along with health monitoring can be considered to be main characteristics to any kind of smart watch. Therefore, it can be said that different sensor players (such as Murata, Rohm as well as Alps) can acquire good business chances in this specific area (Choi and Kim 2016).
The management of the company intends to undertake penetration pricing for the business of export of smart watches in the novel market of Saudi Arabia. Essentially, penetration pricing refers to a specific marketing stratagem that is utilized by corporations for the purpose of attracting several numbers of customers to novel products or else service. As such, penetration pricing can be regarded as the exercise of mainly offering low prices for different new products else wise service during initial offering in a bid to lure consumers away from rivals (Sayoon et al. 2015)
The pricing strategy that the administration of the firm intends to implement can help in reducing the total number of rivals of the firm by around 10%, utilizing a strategy of penetration pricing. In this case, pricing strategy can be adjusted for being directly competitive with many other competitors.
There is increasing interest in smart watch over the last few years that in turn have led to greater number of players entering into the segment of smart watch ring. The smart watch as a specific category of product necessarily includes two distinct planets- technology as well as fashion. In particular, each one of these segments necessarily possess own channels in order to arrive to customers (Brown et al. 2017). Primarily, distribution channels is necessarily referred to as a complete set of self-determining corporations engaged in the procedure of manufacturing product/service that is available for use or else consumption by customers or industrial users. The distribution channels that can be used on this case include:
-manufacturers marketing directly to the customers
-Manufacturers marketing to retailers and thereafter retailers to the specific customers
-Manufacturers marketing to specific wholesalers that again sell products/service to the retailers that again market to customers (Gruenerbl et al. 2015)
Direct:
Selling directly to several consumers can be considered to be simple along with profitable option. The management of the exporting firm can consider savings that the firm can earn by means of selling direct to the customers or simply enhance the profit margins (Reeder and David 2016).
Retail Distribution:
There are large retailers do not want the disturbance of handling thousands of several individual suppliers. However, in place of that, the retailers mainly prefer to purchase by means of large distribution corporation that aggregate company’s products from several numbers of suppliers and then chiefly intend to make the inventory available to various retailers for the purpose of purchase (Reeder and David 2016). In essence, these kinds of distributors take a certain proportion of the sales that necessarily pass through factories.
On the basis of the graph, Smart watch adoption rate in the countries of the world it is clear that Spain is the country which adopts smart watch most in the world. Spain is followed by Italy. It is also clear that the percentages of the population of the mentioned countries are more or less comparative (Chuah et al. 2016). The countries like Japan, New Zealand, United Kingdom, Germany, Austria are more or less comparative in terms of their smart watch adoption rates in the world. There is a significant adoption rate in the Asian countries as well as in other countries of the world.
The market segmentation and analysis of the Smart Track aims at understanding which segments of the population the product is applicable to. In case of the smart watch market segmentation the categorisation can be done by type of product, by application of the product in different scenarios and also by operating systems (Kim and Shin 2015).
There are three basic types of smart watches namely the extension smart watch, the classic smart watch and the standalone smart watch. By the applicability of the watch it can be mentioned that the wellness, the medical and health, the sports fields and other aspects can be categorised (Huang et al. 2016). In terms of geographical or topographical areas, the areas of North America, Europe, Asia Pacific and LAMEA are the areas in which they are to be divided.
Market Overview:
The global smart watch market is expected to garner an amount of 32.9 million dollars by the upcoming couple of years during the period of 67.6%. The market for the smart watches is witnessing a double digit rate globally. There are several brands which are responsible for being the top competitors in the market of smart watch adoption in the world (Kim and Shin 2015).
The global market analysis:
The smart watch market has gained a significant momentum in the recent times due to the entry of several major players in the smart watch market. The most important suppliers are those of the global superiors of Samsung, Sony and Apple. The most smart watches are available in the market work at present in terms of large number of smart phone users. The companies who are responsible for manufacturing of smart watches are customising their respective operating systems and for the use in the wearable devices.
The smart watch market analysis provides a detailed analysis of the several categories of the smart watches. It is also detective of the analysis of the industry drivers, the restraints, opportunities and the market trends. The key players of the market help in analysis of the market share which are suitable in the market plan (Dawid et al. 2017). The emerging industry trends in terms of the smart phone users and the smart watch customers is analysed properly which helps in the creation of the marketing plan.
The usual customers at whom the target market is aimed at comprise of the young generation and basically those who are concerned about their physical fitness. It is necessary to create advertisements of the Smart Track watch with major amount of focus on the innovations. The target group of the youth should be focussed on and the characteristics of the watch which pertain to the youth have to be highlighted.
In the advertisements the store locations and the places where the brand intends to expand their stores are to be analysed. The advertisements should also mention the accessibility of the locations. For this a proper study of Saudi Arabia and its locations need to be understood (Agnihotri et al. 2016). The exported watches need to be distributed properly and this is bound to help in the sale of the products. These factors should be kept in mind positively while promoting Smart track.
Product:
Therefore, it can be said that smart watch can be considered to be a multi-performance watch that has a touch screen facility and has exclusive characteristics for example, health orientation along with fitness tracking capacities since it is assimilated with diverse other services as well as products. Essentially, it is wirelessly connected to carry put functions such as texting and calling from the smart watch.
Pricing
Penetration pricing can be used for the particular product for gaining higher share of the market. Essentially, this policy of pricing can help the company to gain competitive edge over other rivals from the perspective of pricing. The availability of product at affordable prices can help consumers to make purchases and enhance sales (Steck and Tan 2016).
Promotion
In this case, the promotion can be properly spearheaded by way of maintenance of public relations owing to lower level of cost and thereafter by means of advertising just the once the corporation starts to enhance flow of cash to an acceptable limit (Steck and Tan 2016).
Place
The important marketing activities include advertising on different channels. Marketing strategy can be considered to be a specific technique that is utilized to make the public of a corporation and things the company has to deliver over other competitors (Sheth and Sisodia 2015).
Search Engine Marketing
The management of the firm intends to utilize search engine marketing. Developing a website that can remain on the top on search engines can be considered a way of marketing. In case if a customer is searching for the product smart watch for which there are several number of suppliers, then the customers might just type the keywords in the search engine and get the results (Sheth and Sisodia 2015). The company can develop and frame websites and infuse the same with the keywords plus phrases in order to maximise the ranking of the search engines and garner the highest number of enquiries of the customers.
Placement of the product in the area of entertainment
Moviegoers as well as online players of game primarily take note of products from a specific part of the scene. Corporation necessarily can make payments for the privilege (Armstrong et al. 2015). Essentially, they provide consent to the system of payment for several marketing advantages.
Trade Shows
Particularly, management of the company can primarily look for retailers to carry their product. Essentially, trade shows can be considered to be a specific business to business form of marketing. In this, administration of the firm thinking about exporting products to Saudi Arabia can purchase spaces and sell diverse units of a specific item, at times to reach to particular members of the public as well as retailers (Armstrong et al. 2015). Again, even if industrialists do not get adequately impressed at a specific trade show, then the total number of units that are sold to everyday customers might be adequate to convince retailers to stock the entire product.
Packaging Strategy
The management of the exporting firm can analyse whether system of packaging march the strategy of positioning of the company. Essentially, the management of the firm can also take into consideration the way the system of packaging can communicate key value propositions of the firm (Armstrong et al. 2015). In addition to this, administration of the firm can also carry out comparisons with the competition.
Public relations:
The administration of the exporting firm can get the media can cover the products/services in an appropriate manner in order to arrive to the target customers. Essentially, gaining a prominent opinion of product/service can deliver the exposure that is required to develop the business (Hollensen 2015).
Content Marketing:
A popular stratagem for the purpose of promotion can be considered to be very engaging in mainly content marketing. Essentially, content marketing can be used by the management. This involves teaching as well as educating various prospects of the product/service that the exporting firm intends to deliver (Hollensen 2015).
The growth of the export business of the company to Saudi Arabia can be supported by the flow of cash as well as investment of owner. In essence, this will help in maintaining slow rate of growth and manage and can allow the entire management to have entire complete over the entire firm.
The financial plan of the company depends on important assumptions and these suppositions include:
-Adequate accessibility to capital
-Steady financial system of the nation without recession
-No drastic alteration in technology (Hollensen 2015)
General Supposition regarding the start up fund requirements of the business:
|
Start up Fund |
|
|
Start up Expenses |
|
|
Legal |
$20000 |
|
Stationary |
$500 |
|
Brochures |
$3000 |
|
Business Consultants |
$10000 |
|
Insurance Expenses |
$10000 |
|
Expends on Rent |
$20000 |
|
Expends on Research and Development |
$10000 |
|
Expense on equipment |
$10000 |
|
Other |
$7500 |
|
Total Start up Expenses |
$91000 |
Conclusion
The export firm intends to serve the new market of Saudi Arabia and provide niche market of the entire watch industry. Essentially, this can help in capitalizing on particularly the engineering and manufacturing techniques used for the purpose of developing the advanced watches. However, there are numerous potential market that intend to have superior quality products, Saudi Arabia is also one of those markets. However there are high GDP rate of growth and higher purchasing power of individuals in the nation. Therefore, the desire for the high end product can be backed by the purchasing power of consumers. Therefore, it can be hereby stated that people in the newly identified market can also afford the high end and technologically advanced product.
The video explains about the effect of globalization, bilateral trade between China and US on both the economies. Since the outbreak of the worldwide financial crisis during the period 2008, the influence of economic globalization has become a double-edged sword that has become more understandable. On one hand, the global flow as well as distribution of diverse components of production has certainly lessened costs, enhanced efficacy and further augmented overall productivity, but on the other hand, it has aggravated the overall global economic imbalance and widened the gap that exists between economies (Hair Jr and Lukas 2014).
The given video reflects that American corporation produce many of their produce there in China, sometimes 100% or other corporation manufacture parts or else certain specific ingredients of their products. For example, the US based company Briggs &Stratton dislocated workers and this led to job losses of people who used to manufacture engines at the Briggs &Stratton plant positioned in Rolla Missouri. Therefore, business concerns outsourced their production for obtaining labour at lower costs that subsequently led to loss of employment in the US.
There are ways of averting the unfavourable position of replacement of high tech workforce being replaced by the cheaper workforce.
Module 1: Solution to Question 2
American Furniture Company at the time of selling their products in particularly China includes selling products to anybody. However, there exist issues with the balance of trade between particularly China and the United States. Americans also make more purchases from China. The products are produced at low cost by disbursing low salaries. This implies higher level of efficiency and this boosts the bottom line of the company (Chaffey and Ellis-Chadwick 2016). The label of assembled in China also brings in huge savings and it is the company’s marketing strategy that inspires their consumers.
Module 2: Global Customers
Part A: Question 1
Investment climate is enhancing as financiers are also growing. Countries are also consciously attracting foreign direct investment (FDI) that in turn is making the investment programs very much pro-business. There is high rate of inflation, devaluation of currencies and government policies that do not also make the place pro business. However, there are several number of family businesses and it is a specific region that calls for the need of personal contact with prospective partners-suppliers-buyers and physical presence (Babin and Zikmund 2015). Nonetheless, previously Latin America known as world’s biggest resources of the world was also a leading exporter of sugarcane and coffee. It was well known for export of agricultural commodities. Now observing the rest of the emerging markets in Latin America are very much expensive and this is why they intend to trade more with the rest of the world.
Part A : Question 2
Middle East that is a commercial center delivers easy admittance to the products of diverse Latin American products. Heightened trade activity is also essentially driven and directed by the Middle Eastern investment strategies towards emerging markets (Sheth and Sisodia 2015).
Increasing digitalization makes Chinese market more accessible to foreign corporations
Digitalisation has the prospective of empowering the overall business chain and the ones looking to get a head start also stand to acquire advantage in the upcoming future (Strauss 2016). Traditional models of business as well as value chains are necessarily challenged since digitally performed actions permit for enhanced availability, lesser lead times, quicker time-to-market along with lower costs of transaction. Particularly, this translates into chances for low costs, permitting for smaller firms to compete with established firms and brands.
Digitalization and globalization
Digitalisation together with globalisation helps worldwide business on an international scale. This necessarily refers to opportunities for particularly sales to customers globally. On the other hand, to overseas firms this helps sales in the home country. In this case both domestic as well as internal competition gets toughened as the home country becomes an important part of the global market. From the perspective of internationalisation, both marketing and sales actions are important (McDonald and Wilson 2016). Essentially, digital channels along with tools permit customer sections in various new markets that can be reached at comparatively lower costs as compared to conventional set-ups.
Question 2: Examining whether Chinese internet companies will become global
Chinese corporation that rule in their domestic markets have now become flush with cash, and these firms have become eager to stretch influence overseas to prosper more than their competitors.
Module 3: Global Marketing Information Systems and Research
Yes, certainly it is rightly indicated by Steve Jobs that market research can help in understanding perceptions of customers regarding the thing that is shown to them or else can talk about what the customers want as an enhanced improvement. However, market research cannot help in predicting and forecasting something that customers are not aware of (Andrews and Shimp 2017).
Module 4: Segmentation, targeting & positioning
Psychographic segmentation: Porsche customer in the U.S.A.
Psychographic segmentation of Porsche:
-Fantasists
-Proud Patrons
-Elitists
-Top Guns
-Everyday users
-Bon Vivants
It can be agreed that Psychographic segmentation can help in understanding the psychologically variant motives behind purchase intention (Babin and Zikmund 2015)
Porsche is a luxury car and is a high end products targeted at premium clients. However, the market segmentation of Volkswagen ought to be different as affordability along with other facets such as ingenuity, performance and reliability makes the .product attractive to large segment of clients.
Module 5: Competitive analysis & strategy
Assessment of the strategy of Tesla
Telsa believes in making people understand the company, their cars, value of the cars that they offer and thereafter want the same. The management of the company also believes in treating clientele well as developing strong customer relationship and maintain both physical and online presence (Babin and Zikmund 2015). The administration necessarily does not want to dicker on the product’s price.
Recommendation for changes if any
The management of the company might consider setting up franchises as Tesla does not follow a franchise dealer model, just as other automotive firms counting Ford also follow.
Michael Porters’ Five Forces
Module 6: Product decision and pricing
New Product Development
The new product idea of Geminoid is very attractive that is essentially a tele operated android that is identical to the original person. This idea will incline me the most (Babin and Zikmund 2015).
Topic: Pricing a can of Coca Cola
Unrelated product with at least four to five different price levels
Another unrelated product is Hololens that helps in seamlessly blending particularly high-definition holograms with essentially the real world.
The introductory price of this new product ranges between $3000 and $5000 for mainly commercial suite. This wide range of levels of price ($3000 to $5000) permits the seller to market products at different levels of prices founded on the customer that is buying the product. Certainly the features of the products also vary with different levels of price.
Module 7: Global Marketing channels and communication
Measuring Performance
Poor performance measurement is possible and way it can be linked to global marketing
In essence, it is important to design an appropriate tool for measurement of performance along with systems so that their corporations can attain their own exclusive set of objectives. Again, this is a huge challenge, just like a basket ball coach supply chain managers also have the need to recognize and enhance the overall weakness of the entire team. A performance measurement system refers to a strategic scheme along with strategic goals together with actions that helps in enumeration of final performance. However, effective performance measurement can help in improvement. In case if the performance does not get improved and processes fail to attain measurable gains, the performance measurement system can be said to be poor. International marketing function also delivers a specific opportunity for a specific employer to discuss about correcting issues about performance (Baker 2014).
Module 8: Foreign Market Entry Modes
Examination and description of resistance Nestle has encountered in certain markets
Nestle has around 447 factories throughout 194 nations that employs around 333000 individuals. As per the International Baby Food Action Network (IBFAN), the company Nestle utilized unethical mechanisms to necessarily promote infant formula to all poor mothers of developing nations. In addition to this, the company also encountered resistance owing to the false claims that it previously made that their powder milk is equally effective as mothers’ milk.
For example, the baby formula can be considered to be a sad story as regards poverty and greed. As such, Nestle aggressively pressured the company’s breastfeeding formula in less economically developed nations, particularly targeting the poor. They made it appear that their infant formula was almost as good as a mother’s milk that is highly for several reasons. Essentially, majority of the groups that the company was targeting was particularly in Africa and did not necessary have access to proper and hygienic water, therefore it was essential for them to intake boiled water. Nestle ignored all the circumstances and inspired mothers to utilize formula even after knowing risks (Baker 2014).
Module 9: Industrial Marketing
Question 1
Way Cisco transformed marketing strategy to focus on customer needs
The management of the firm started to explore the target customers of the firm. Also, administration and the decision makers of the firm started thinking about market opportunities, growth of business, superior customer experience regarding price/earnings. Even after considering these factors the management of the firm took into account specific information and understood different kinds of marketing tools (Hair Jr and Lukas 2014). Furthermore, management of the firm also took into account tactics that these diverse folks necessarily respond to and comprehend their care regarding programs and specific contents around the same.
Question 2
Yes, I agree to the proposed changes. The focus was shifted to mainly anticipated business challenges and this was very much business focussed. This can lead to development of the business.
Module 10: Global Organization and leadership
Customer engagement can be considered to be a business communication that talks about the connection between external stakeholders as well as organization by means of diverse channels of communication (Chaffey and Ellis-Chadwick 2016). In essence, this connection can be regarded as a reaction, impact and interaction with customers that occurs both online or else offline. The management of the firm Tesco Plc proudly engages in customer engagement and has a customer engagement center. This necessarily intends to sort out different queries that the company’s shoppers might possibly have regarding club card, Tesco Direct Products or else regarding overall quality of customer service in Tesco’s stores. The company also has the prospect to remain engaged in different aspects of what the company offers to its clientele. Thus this can help in specialising in identifying the opportunities of serving customers in better way and improving manner of working, systems as well as procedures providing faster as well as simpler solutions for the colleagues.
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