Marketing Strategy in Foreign Markets



Executive Summary

The report is based on marketing strategies of foreign country. For this purpose, Australian Company of Skin Care Products has been chosen to carry out its exporting activities in Chinese overseas market. The report is divided in to three parts that will help to support the topic of the study relating to International Marketing Approaches. Part one gives the background and description of chosen Australian- based company, The Jojoba Company that offers wide range of skin care and anti ageing products. The company is looking forward to penetrate and explore overseas market and has chosen China as its target market. Product is segmented mainly for Chinese ladies as they are more conscious towards beauty related products. Part two gives in-depth analysis of Chinese Cosmetic Industry and supports it by PEST Analysis Framework. Last part of the report provides possible international marketing strategies and marketing mix to capture the Chinese Market. Furthermore, report gives recommendations to keep away from future risks and minimize threats of conducting business in an overseas state.



Introduction4

Discussion4

Part 1: Background of Company4

Part 2: Overseas Market Analysis5

Culture6

Social and Demographics6

Economic7

Legal Factors7

Competitive Situation8

Main Challenges8

Part 3: International Marketing Strategy9

Market Entrance9

Indirect Exporting9

Product9

Product Segmentation10

Pricing Strategy:10

Distribution Channel10

Risk Management12

Recommendations12

Conclusion13



Marketing Strategy in Foreign Markets

Introduction

Any company can sell its products or services in a foreign country but the procedure can be multifaceted and demanding and achievement is a long way from certain. Up till now, when it is measured with careful consideration, exporting can be a worthwhile development approach for any company. Especially than in start-up settings, evolutionary philosophy is very important when stepping in to and forming global marketplaces (Crawford, 2010).

Most senior managers are quite comprehensible that global marketing is dissimilar from local-nation market, and most international firms maintain that their senior executives have global experience on their resumes. In spite of this practical acknowledgment of the individuality of the international market, there has been narrow conformity over the precise character of this uniqueness. Even though, the subject has been long and inconclusively argued by scholarly and market forecasters, conformity has been narrow to the convincing but somewhat clear study that international market, as different to market in a particular nation, occurs in a surroundings of increased complication and vagueness, in regions as diverse as customer behavior and governmental directive (Terpstra and Sarathy,2001). This report will take account of an Australian Company, penetrating the Chinese markets and involving it to export products to China.

Discussion

Part 1: Background of Company

The Jojoba Firm has produced a wide range of skin and body care items with great attention on anti-aging and skin protection­­­ healthcare. The Jojoba Corporation was established in 2008 by Ian Turner, who sowed his first produce of jojoba on the familial property in New South Wales, Australia over a decade before. Being a pioneer of jojoba agricultural in Australia, he supposed that his yield could reform the skin-care market because of its amazing natural features for skin. Inculcated with hand chosen crude and unrefined elements from all over the ...