INTERNATIONAL MARKETING STRATEGY

International Marketing Strategy

International Marketing Strategy

Introduction

Market entry strategy defines all the possible ways that a company can enter a new market for its new venture, which can be a new market or an existing one. It defines all the required activities to establish a successful entry within the chosen market. All these strategies are associated to the marker entry strategy. In this research paper, we are going to discuss all the possible market strategies for the Boots Company and how they can establish a successful market entry.Question 1:The main activities that should be concerned by the Boots Company are:• Resources• Capital Investment and Scale Requirements• Product Life Cycle• Proprietary Protection• Market Structure and Competition

The mentioned points are of both obvious importance and uncertainty in the case of a newly developed product, especially if it is a stand-alone product (or service) that has never existed in this or a similar form before. Here, a forecast by the Boots Company has to be made solely on the grounds of personal estimation, as no precedent or guideline is available.

As regards the strategies themselves, they seem to correspond to a certain extent with the distinction made above. Depending on the type and size of market Boots Company wishes to target (which to extent depends on the product or service offered by the new venture), s/he can employ a 'Niche' or 'Broad' Market-entry strategy. (Aaker 1999)

The next strategy that can be adopted by Boots Company is niche market-entry strategy. Using a niche market-entry strategy is usually associated with some kind of geographical limitation facing the entrepreneur. In most cases, it has been seen that the business will start-up in the physical location of the targeted market segment, i.e. a new small business selling school stationary and similar products would seek a location in the proximity of a suburban school, preferably away from the city centre or large shopping centres, while a newly established commercial courier service would be more likely to set up near or in an industrial estate, where such business is more easily obtained. (Benady 2005)

Question 2:

A company's marketing communications mix, also known as a promotion mix, consists of the specific blend of advertising, personal selling, sales promotions, public relations, and direct marketing tools that the company uses to pursue its advertising and marketing objectives - these are the five major promotion tools.

Marketing Communications' Aims

Basically, there are five different aims of marketing communications, which are:

persuading

reminding

informing

reinforcing a message

and to generate AIDA

1. PersuadingIntegrated Marketing Communications mainly developed in a time when people were conducting business by following a sales orientation. Therefore, IMC were used merely to persuade people to buy that company's products. Nowadays, IMC has developed into a mentality rather than a brain-washing device. Thus marketers are using a great deal of information in their promotions because today, marketers believe that one could use information as the key to persuasion. This is solely because they believe that by informing the customer, they are attracting him to their business as today's customers are much more intelligent customers thus they opt to choose that company which provides them with the most information when they are identifying their needs and evaluating alternative products, brands and suppliers i.e. the first two stages of the purchasing ...