ABSTRACT:
The main functions of promotion are namely: to inform, pursue and remind the customers about your company’s product. Promotional mix is very important for creating and capturing the target market. It facilitates in creating competitive brand positioning and brand awareness. Designing a suitable promotional mix is critical and considered a key success factor. Designing a promotional mix becomes more complex when company plans to launch the product in international markets. Many cultural, legal and consumer behavioral factors need to be taken into consideration before launching the product in international market.
CASE:
Tropical (Pvt) Ltd. is based in Multan and engaged in fruits’ business. Multan is famous for good quality mangoes and oranges. Initially company launched its product in the local market while supplying to hotels and leading stores. The Tropical (Pvt) Ltd. got a marked success while capturing a worthy market share in the local market. Now company is planning to launch its product in the foreign market. Mangoes and oranges have a great potential market in foreign countries.
QUESTION:
1: What factors Tropical (Pvt) Ltd should consider before entering in international market? (Mention at least 5 considerations of foreign markets) 10 marks
Solution:
According to my point of view folloing factors Tropical (Pvt) Ltd should consider before entering in international market
1) What business you want to inMeans: continue with the same or diverse depending upon market opportunity
2) GrowthMarketers also need to consider the growth of the particular market
3) SegmentationDepending upon the internal and external factors company need to decide its target segment, which can give maximum growth to the company
4) Government policiesSome countries are less acceptable while some are more flexible. Cots
5) Raw materialsBasic need: from where you can have access of material.It also include your employees, so decide can you own right resources at right time and at economical rate, can you get required human capital depending upon company requirement.
6) Advertisement strategiesIdentify cultural, psychological factors, geographical, demographical and many more. The strategies which are suitable to India may not be same to America or European market.
7) Geographical factorsIncome, segment, education and many more such factors should be consider
2: Discuss at least five such promotional mix strategies which this company may devise while planning to launch this new product in the international market? 10 marks
Solution:
A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix strategy can consist of:
The main functions of promotion are namely: to inform, pursue and remind the customers about your company’s product. Promotional mix is very important for creating and capturing the target market. It facilitates in creating competitive brand positioning and brand awareness. Designing a suitable promotional mix is critical and considered a key success factor. Designing a promotional mix becomes more complex when company plans to launch the product in international markets. Many cultural, legal and consumer behavioral factors need to be taken into consideration before launching the product in international market.
CASE:
Tropical (Pvt) Ltd. is based in Multan and engaged in fruits’ business. Multan is famous for good quality mangoes and oranges. Initially company launched its product in the local market while supplying to hotels and leading stores. The Tropical (Pvt) Ltd. got a marked success while capturing a worthy market share in the local market. Now company is planning to launch its product in the foreign market. Mangoes and oranges have a great potential market in foreign countries.
QUESTION:
1: What factors Tropical (Pvt) Ltd should consider before entering in international market? (Mention at least 5 considerations of foreign markets) 10 marks
Solution:
According to my point of view folloing factors Tropical (Pvt) Ltd should consider before entering in international market
1) What business you want to inMeans: continue with the same or diverse depending upon market opportunity
2) GrowthMarketers also need to consider the growth of the particular market
3) SegmentationDepending upon the internal and external factors company need to decide its target segment, which can give maximum growth to the company
4) Government policiesSome countries are less acceptable while some are more flexible. Cots
5) Raw materialsBasic need: from where you can have access of material.It also include your employees, so decide can you own right resources at right time and at economical rate, can you get required human capital depending upon company requirement.
6) Advertisement strategiesIdentify cultural, psychological factors, geographical, demographical and many more. The strategies which are suitable to India may not be same to America or European market.
7) Geographical factorsIncome, segment, education and many more such factors should be consider
2: Discuss at least five such promotional mix strategies which this company may devise while planning to launch this new product in the international market? 10 marks
Solution:
A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix strategy can consist of:
ABSTRACT:
The main functions of promotion are namely: to inform, pursue and remind the customers about your company’s product. Promotional mix is very important for creating and capturing the target market. It facilitates in creating competitive brand positioning and brand awareness. Designing a suitable promotional mix is critical and considered a key success factor. Designing a promotional mix becomes more complex when company plans to launch the product in international markets. Many cultural, legal and consumer behavioral factors need to be taken into consideration before launching the product in international market.
CASE:
Tropical (Pvt) Ltd. is based in Multan and engaged in fruits’ business. Multan is famous for good quality mangoes and oranges. Initially company launched its product in the local market while supplying to hotels and leading stores. The Tropical (Pvt) Ltd. got a marked success while capturing a worthy market share in the local market. Now company is planning to launch its product in the foreign market. Mangoes and oranges have a great potential market in foreign countries.
QUESTION:
1: What factors Tropical (Pvt) Ltd should consider before entering in international market? (Mention at least 5 considerations of foreign markets) 10 marks
Solution:
According to my point of view folloing factors Tropical (Pvt) Ltd should consider before entering in international market
1) What business you want to inMeans: continue with the same or diverse depending upon market opportunity
2) GrowthMarketers also need to consider the growth of the particular market
3) SegmentationDepending upon the internal and external factors company need to decide its target segment, which can give maximum growth to the company
4) Government policiesSome countries are less acceptable while some are more flexible. Cots
5) Raw materialsBasic need: from where you can have access of material.It also include your employees, so decide can you own right resources at right time and at economical rate, can you get required human capital depending upon company requirement.
6) Advertisement strategiesIdentify cultural, psychological factors, geographical, demographical and many more. The strategies which are suitable to India may not be same to America or European market.
7) Geographical factorsIncome, segment, education and many more such factors should be consider
2: Discuss at least five such promotional mix strategies which this company may devise while planning to launch this new product in the international market? 10 marks
Solution:
A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix strategy can consist of:
- See more at: http://vu.paktutorial.com/mkt501-marketing-management-assignment-1-solution-fall-2013/#sthash.V1fpjbDV.dpuf
The main functions of promotion are namely: to inform, pursue and remind the customers about your company’s product. Promotional mix is very important for creating and capturing the target market. It facilitates in creating competitive brand positioning and brand awareness. Designing a suitable promotional mix is critical and considered a key success factor. Designing a promotional mix becomes more complex when company plans to launch the product in international markets. Many cultural, legal and consumer behavioral factors need to be taken into consideration before launching the product in international market.
CASE:
Tropical (Pvt) Ltd. is based in Multan and engaged in fruits’ business. Multan is famous for good quality mangoes and oranges. Initially company launched its product in the local market while supplying to hotels and leading stores. The Tropical (Pvt) Ltd. got a marked success while capturing a worthy market share in the local market. Now company is planning to launch its product in the foreign market. Mangoes and oranges have a great potential market in foreign countries.
QUESTION:
1: What factors Tropical (Pvt) Ltd should consider before entering in international market? (Mention at least 5 considerations of foreign markets) 10 marks
Solution:
According to my point of view folloing factors Tropical (Pvt) Ltd should consider before entering in international market
1) What business you want to inMeans: continue with the same or diverse depending upon market opportunity
2) GrowthMarketers also need to consider the growth of the particular market
3) SegmentationDepending upon the internal and external factors company need to decide its target segment, which can give maximum growth to the company
4) Government policiesSome countries are less acceptable while some are more flexible. Cots
5) Raw materialsBasic need: from where you can have access of material.It also include your employees, so decide can you own right resources at right time and at economical rate, can you get required human capital depending upon company requirement.
6) Advertisement strategiesIdentify cultural, psychological factors, geographical, demographical and many more. The strategies which are suitable to India may not be same to America or European market.
7) Geographical factorsIncome, segment, education and many more such factors should be consider
2: Discuss at least five such promotional mix strategies which this company may devise while planning to launch this new product in the international market? 10 marks
Solution:
A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organisations promotional mix strategy can consist of:
- See more at: http://vu.paktutorial.com/mkt501-marketing-management-assignment-1-solution-fall-2013/#sthash.V1fpjbDV.dpuf
