STRATEGIC MARKETING

Strategic marketing - Frozen Food Manufacturer

Table of Contents

1.Introduction3

3.Sara Halal Foods4

4.Market Selection6

4.11Strengths6

4.12Weaknesses6

4.13Opportunities7

4.14Threats7

5.Potential Destination Market Selection7

6.Destination Market: Saudi Arabia8

7.Market Environment Analysis8

7.11Geographical Factors8

7.12Economic, Political, and Legal Environmental Factors9

7.13Demographic Factors10

7.14Cultural Beliefs10

8.Marketing Mix Strategy11

9.11Product12

9.12Promotion13

9.13Price14

9.14Place14

9.Development of Foreign Market Entry Strategy Process15

10.Foreign Market Entry Strategy15

11.Methods of Exporting16

11.11Indirect Exports16

11.12Direct exports16

13.Use of Social Networking17

14.Conclusion & Recommendations17

References19

Strategic marketing - Frozen Food Manufacturer

Introduction

The prospect of entering foreign market can be attractive for the local company; even it can boost the business but can be risky at the same time. Entering foreign market requires that the local company evaluate and analyze the foreign market, external environment, industrial analysis, before entering the market. If the analysis and evaluation of the foreign market proves fruitful then only the company is recommended to enter the foreign market and implement its strategic marketing plan. When the company evaluates the decision of entering a foreign market, it faces many complexities. Even if the business is experienced, still it doesn't ensure that the business will be successful on an international level as well. Every country has its own unique characteristics, therefore the prospect of choosing a certain market and investing in the development has to be carefully analyzed (Aulakh & Kotabe, 1993).

While selecting a potential market globally, cultural and language barriers, religious beliefs, buyer behaviour, political, economical, social, technological, and legal and environment aspects have to be evaluated. After analyzing the risks and threats of entering foreign markets, businesses have a competitive edge over their foreign competitors. The local company requires striking a balance between the risks the company it expects to face and the opportunity the company expects to achieve. The initial steps in considering the idea of entering foreign market involves: first, to develop a suitable international marketing plan and second, to take decisions on how to enter the market. The international marketing plan defines the product and service to be sold in the foreign market, the targeted country, and evaluation and detailed discussion of the plan of entering the market or not.

Purpose of the Study

The aim and purpose of this report is to propose and provide a detailed and systematic approach designed to determine the safety, profitability and practical way of launching the local business in foreign market. The company chosen for the assessment is 'Sara Halal Foods'. Sara Halal Foods have made the decision to go international and therefore, this study would determine the issues to be tackled while putting the strategy to enter a new market and improve its chance for success. The study outlines the information about the company, market selection, targeted country's ideas, views, environmental analysis, legal, ethical issues, cultural aspects, buyer behaviour and how these present opportunities and threats effect the product in the chosen destination country. Marketing mix strategy would determine that the combination of selected products and targeted place has the relevant and suitable marketing tools & techniques to justify the market selection standardization. Foreign market entry strategy process discusses the development of and ideas and views on the importance of social networking tools to ...