Term Paper on "International Expansion Strategy"

Term Paper 4 pages (1241 words) Sources: 1

[EXCERPT] . . . .

International Expansion Strategy

The purpose of this paper is to provide the basic framework for creating an expansion plan for ABC Textile Company. Through this process, we will be describing the intent of the market plan and also describing the general steps needed to take, to create a successful marketing plan. Marketing involves taking a series of interlocking activities and tasks with the main intent of appealing to the customer. The process of marketing is complex and a cross functional process. It is because of this that it should not be hastily assembled but it should be carried in systematic and organized ways that allow the organization to be successful.

The expansion plan for ABC Textile Company will therefore be a dynamic document that will be focusing on bringing marketing strategies to life, serving as a roadmap for carrying out marketing activities and implementing marketing strategies. This will be a multi-step process, focusing on formulating a strategy for the product that will ensure that appropriate linkages are made between the products as well as the customers. Expansion of ABC Textile Company is meant to take a specific direction and purpose so that it will produce sustainable results.

The marketing plan will also focus on analyzing the environment into which the Company will be expanding. The place where the Company will be marketed is paramount and so are the industry, competitors and other influences. The plan will also help the company to be in a strategic position to identify market segments, something that is very crucial to the company's growth so as it is knowledgeable on which customers to focus on and their particular needs.

The marketing mix, which reflects on a grouping of actions which come simultaneously amicably, in availing the product to the market as well as maintaining it whereas in the market, which consists of; Identifying which product meets the needs of identified market targets, pricing those products so that the true, competitive value is recognized by the market targets, defining advertising programs to reach those targets, which can consist of communications as well as marketing programs. Lastly is the execution plan which will involve in creating marketing project plans and understanding dependencies on other organizations. Also included will be the measurements to determine the success of the marketing activities.

Understanding the environment the business operates in is a key part of planning and allows the business to discern the threats and opportunities (Garth, 2000). A PEST analysis in this case will help the Company to identify the main opportunities and threats in the market, for it to make the right market plan. For this particular case, penetrating a new foreign market will necessitate taking into consideration political and legal changes such as new regulations. It is also important to analyze the economic, social and technological factors that will make the marketing plan unsuccessful. Factors such as consumer low confidence in purchasing the commodity will need to be tackled by the company before they hit the ground if at all there are any. What is the overall attitude of consumers towards the Company? This is a fundamental question that needs an answer before any move and to understand customer's attitude, it is testing the commodity to them before unveiling. The sale team will arrange to create a positive awareness on the company's products before its launch to allay any fears or negative attitudes.

It is of importance to able to understand company's internal strengths and weaknesses. The strength is that the company has enthusiastic employees who are highly motivated and are willing to take the company into higher levels and this is a plus in terms of expansion. For the company to venture into a new market means… READ MORE

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