BA 427 Marketing Management (Level 6)

PROJECT BRIEF

Written Project

• Each student to submit their portion of the paper into SafeAssign. The paper assessment accounts for 30% of the student’s overall course grade.
  • 2000 words: excluding references, index, appendices, and cover page. Those sections must be included but do not count as project pages.
  • Academic format: double spaced, 12 pt. Font
  • References: minimum 4sources
    • 2 academic reference
    • 1 respected business/industry publications
    • 1 secondary research or government report
  • Title page: Plain page with Student’s name, Title/Project Name, Date
    • Do not use the SIU logo or any SIU title page
    • Points deducted in “Organization/Structure” Rubric section for not following title page guidelines
  • Citation: APA style (both in-paper and for Reference Page)(No citation = F / 0)
  • File Structure Name: 04.BA427_Paper_’LastName_First Initial’
    • Example: 04.BA427_Paper_Graham_K
    • Points deducted in “Organization/Structure” Rubric section for not following file structure naming guidelines

• Marketing Paper
  • Taking “one” large consumer products company, the students will analyze the international marketing strategy the company uses when adjusting its products or services to the different international markets where it operates. An assessment of Ansoff’s matrix, SWOT analysis, and the competitive PoP/PoDsummary is required.  The students must identify one new country (or specific city in a new country) where the company might launch, the challenges/opportunities that existas well as the potential risks that need to be managed for success. This will require as assessment of the Marketing Mix and Extended/Service MarketingMix elements that may need to be adapted or closely monitored, a summary of the SWOT analysis for the new launch country/city, and then an assessment of the market research requirements to fully understand the market opportunity size and value.
  • The instructor must approve the selected company for analysis. Companies that will not be allowed for analysis include:  IKEA, Auto companies such as BMW, Ford, etc., McDonalds, Zara, Chick-fil-A, Hans imGlueck and several others.

Please note that successful completion of this assignment is required of students attempting to earn the University of Roehampton credential.

Course Learning Outcomes (Current – Level 6)

1. Explain the concept of strategic marketing
2. Analyze markets, segments, and customer value to determine the best marketing strategy.
3. Critically analyze a complex marketing situation
4. Analyze pricing objectives, price sensitivity, strategies, policy, and structure to determine the best pricing strategy.
5. Evaluate the factors and issues that influence global market-driven organizations.
6. Demonstrate the actions needed to implement and manage market-driven strategies.

PAPER FORMAT: (suggested structure)

1. Company and MarketOverview

• Company Overview:High-level overview of the company’s business including headquarter location, years in business, industry andtarget market(s) served (# locations, #outlets, #countries), main product categories, primary distribution channels used, and current financial trends or market growth highlights. The intent is to be concise so the reader has a very high level view of the business).
• Mission Statement
• Main product category and method of distribution
• A summary of company growth, including financial or market highlights
• Market Overview: Describe the different markets the company serves in terms of their high level Segmentation and Target Market Strategies.
• Segmentation Strategies: (geographic, demographic, psychographic, behavioral, benefits)
• Target Marketing Strategies: (undifferentiated, differentiated, focus/niche, micro/customized)
• Ansoff’s Matrix summary:how hasthe company grown sales over the years in terms of market and product growth strategies deployed.

2. Launch Country Overview

• Country Rationale:
  • What are the key selection criteria / reasons for selecting the country and/or specific city (e.g.:  large market opportunity, market similarity to home country, first mover advantage, local government support, existing distribution channels, etc.  Look for secondary research to support your rationale – be specific with market size opportunity)
• Risk Assessment (excluding competition):What are the potential risks for achieving success: both macro and micro-environmental challenges when entering the Launch Country.
• Competitive Overview: (home and launch country)
• Competition Summary (local and international): Who are the main or potential competitors in the launch country.  How is the company currently positioned (market share in home country, issues in Launch country) againstexisting competition and how will this benefit the company in the new launch country.
• Point of Differentiation / Point of Parity Summary:
• SWOT Analysis: Be specific for new Launch Country and not for the company in general.  Justification for the main statements must be provided – ideally with a key business reference to show validity.  At least one key factor is required for each area of the SWOT but no more than 3.  Prioritization is essential.

3. Market Entry Strategy

• Describe which model of entry strategy you suggest based on previous methods used by the company or specific country requirements.

4. Marketing Mix Strategies for the Launch Country:What key Marketing Mix elements will the company need to adapt/modify in their launch country vs. their home country and why. (Be brief but specific and only discuss the most critical areas that need adjustment

5. References

Examples showing Marketing Mix change requirement and analysis:

IKEA Product Strategy:IKEA’s product strategy requires product size modifications for mattresses to meet specific country requirements:  For example, in the U.S. the mattress sizes or King, Queen, Double, Twin and stated in empirical format; vs. European sizes are statedin standard metric sizes.  European and U.S. mattress sizes are different requiring different sized mattress sheets, too.

IKEA also has created their Real Life series.  The brand has made a room for families based on the Simpsons, a room for mates based on the living room in Monica’s apartment in Friends, and a room for everyone based on Joyce’s living room in Stranger Things.

IKEA website review – Retrieved from http://www.Ikea.com

Fast Company online. (08 Aug 2018). ‘How IKEA quietly tweaks its design around the world,’ Retrieved from  https://www.fastcompany.com/90215773/how-ikea-quietly-tweaks-its-design-around-the-world

Scott, E. (2019, May). ‘Ikea recreates iconic living rooms from TV shows (and you can buy all the products to do the same)’. Retrieved from https://metro.co.uk/2019/05/31/ikea-recreates-iconic-living-rooms-tv-shows-can-buy-products-9753269/

IKEA Process / People Strategy – IKEA’s China staff now allow consumers to sleep on beds or sofas as this is considered normal in their culture versus this is absolutely not something that would be tolerated in Germany or IKEA’s headquarter location.  Changing thi strategy also means a change to their process strategy as bedding sheets must be changed each night to ensure cleanliness.   Often small children sleep on the beds and have ‘accidents’.  IKEA has changed to meet the consumer needs vs pushing people off the beds.

Webb, N. (Dec. 6, 2017). ‘Why Sleeping in Ikea is Perfectly Acceptable in China.’ Retrieved from https://www.huffpost.com/entry/why-sleeping-in-ikea-is-p_b_9677464?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAMvupvaudDo1r0wHVwUrgPeJBne7Ua85buGc-LbfRwXkGXlM43pnowtClOEbo7-1Sq1ihfmOrVVW6h6vydxeMjiS5fBeKh9eYasHfesCpyqgt8kuaPIxvsOmJ3bC4ME68Cs0IEF748i6VkLswoWKX95dPX-PMau–lnLUdKbdfjF

IKEA Promotion – consistent strategies with minimal adaptations are used around the world as indicated by how the company promotes itself on their headquarter and local websites. The company uses a variety of ethnic races in their photography as well as focuses more on the highlighting the physical product versus specific people.  Backgrounds are generic which allows for ease of use on local websites.

IKEA also effectively applies product placement marketing technique in moies such as Fight Club, 500 Days of Summer and TV programs such as 30 Rock, Blind Date, Being Human (UK).

                IKEA website review – Retrieved from http://www.Ikea.com

Dudovskiy, J. (2019, November). Research Methodology.  IKEA Marketing Strategy:  a brief overview. Retrieved from https://research-methodology.net/ikea-marketing-strategy/

Chick-fil-A People Strategy and Political Environmental Challenge:  According to the CMO, one-third of millennial consumers purchase products based on the brand’s social and environmental impact (Slavin, 2018)…… Chick-fil-A ranks first among all quick-service restaurants in customer satisfaction and is known worldwide for their friendly customer service (Barrabi, 2018).  When expanding into the German market, the brand has to continue to stand out in the service sector and overcome obstacles such as culture, language, different operating systems, accounting methods, and environment policies.  The main obstacle for corporate may be the political and social environment in Germany.  The brand, CEO, and employees must consider a more liberal approach, in particular same-sex marriage and religion, when expanding into international markets such as Germany (Garfield, 2018).

Barrabi, T. (2018, July 05). Chick-fil-A ranked top fast-food restaurant in customer satisfaction.  Retrieved from https://www.foxbusiness.com/markets/chick-fil-a-ranked-top-fast-food-restaurant-in-customer-satisfaction

Garfield, L. (2018, July 27). Pro-LGBTQ-rights consumers vow to boycott Chick-fil-A after it announces it’s opening in Toronto – here’s why the fast-food chain is so controversial.  Retrieved fromhttps://www.businessinsider.de/chick-fil-a-lgbt-twitter-jack-dorsey-apology-marriage-equality-201806?r=US&IR=T

Slavin, A. (2018, February 6). 12 ‘Millennial-Minded’ Trends for 2018.  Retrieved from https://www.cmo.com/opinion/articles/2018/1/17/18-millennialminded-trends-for-2018-.html#gs.ofTvCGE

HansimGlück 4Ps Strategy

The goal is consistency….

Our products, prices, places and promotion will mirror to that of Germany and Austria.

• Product

Our product is gourmet burgers, healthy ingredients and a beautiful presentation.Utilizing ourexisting logistic channels, we will be able to carry over our current items of Belgian bread andmeat from Germany. The restaurant will continue to feature vegan and vegetarian dishes. Also,the restaurant will feature a bar, with over 20 specialized drinks and brews.

• Price

With our product, it will be catered towards a mid-class pricing level, on average 12€. To

differentiate ourselves from the competition, we will provide a full menu price consisting of fries(or other side) and drink. Rest of the menu will mirror our home-based market. Our prices will beon par with our gourmet competitors.

• Place

Our chosen location, will be that of the old town area of La Lonja. This area is locatedwithinwalking distance of public transportation options, allowing for ease of access and ease of locationfor our customer. A view of the harbour, will be on one-side of the restaurant and the view of thecity on the other. The area will allow for other activities, such as shopping and local historicalsites.

• Promotion

Our primary focus has been social media and word of mouth (Hans im Glück, 2017). Though, toinfluence a higher demand, we will provide menus to hotels, so that concierge may recommendour restaurant. Due to the small size of Palma, and the large German tourist population, we willcontinue this same plan. Our customer service members within Germany and Austria will provideinformation to our customers on the new location during their visits, as well as the social mediasites of Instagram, Facebook, Pinterest. Simple signage and callouts will be placed throughout thefranchises, to show the new expansion.