Premium Essay

Entering the Foreign Market

In: Business and Management

Submitted By justjomama65
Words 1302
Pages 6
Entering the Foreign Market

Principles of Marketing
MKT 100

November 03, 2013

My company is called Henderson’s iPhone Store. We market all the latest versions of Apple smartphones. We will be marketing the new Apple iPhone 6 and entering all foreign markets. The target market for the iPhone is teenagers, college students, business class individuals, and adults. (Apple Inc., 2013). Our specific target market for this report is a married person, approximately 36 years old, and lives in a major city. This individual has a steady job, makes a solid income of about $65K a year. This individual likes to play sports, and has a very active social life. He has high goals which include gaining the experience which will assist him in landing his dream job with an income of over $100K yearly. Consumer’s behaviors include finding convenient mobile devises that offers more efficient ways for calling, messaging, and entertaining using a single button. These consumers are looking for the latest technology to satisfy their personal and social needs. Most of these consumers are affluent, and will purchase expensive products and brands which are shown as a status symbol (Apple Inc., 2013). Identifying the target audience is an important success factor for Henderson’s iPhone Store. Market segmentation can be used in many ways to construct the framework to influence their targeting activities. Understanding the market and the factors that influence consumer buyer behavior can ensure the soon to be launched iPhone 6 will be on the buyers list. Our knowledge of this process will help us develop and distribute the products, as well as creating successful promotional activities to make sure consumers’ get the right contact at the right time.
The purpose of this paper is to detail the target market profile for the iPhone 6, key buying behaviors, organization target...

Similar Documents

Premium Essay

Entering Foreign Market

...Entering Foreign Market So you are considering entering the foreign market. Your company has been doing well in your home country and you want to approach another level of trade and sales. When it comes to a business entering a foreign market many things must be taken into account. Where, when, and how? Each question must be looked over carefully before making any decision. Where you decide to enter in the foreign market can help or harm your business. When and how you plan to enter is very important as well. You do not want to enter a country’s market at a very bad time because they may not be the best route for your business to take unless you actually plan to help and provide a service to whatever problem is going on within that country. Throughout this report I will explain where, when and how to enter the foreign market and why each is important. First, when considering the option of entering a foreign market the first thing you want to do is take a good look at your business and begin the process of deciding where you should consider making a presence in the foreign market. I believe it is important to start off with entering one country first before taking on the whole market at one time. You must remember factors greatly vary by country to country which can greatly affect the ability to successfully engage in business. So in other words the same thing that worked for you in the United States may not work for you in another country. It is smart to study the foreign......

Words: 1515 - Pages: 7

Premium Essay

Whole Foods Entering Foreign Market

...States, Canada and the U.K. It is consistently ranked in the top 100 best companies to work for and the top 100 best Corporate Citizens. Business Proposal: This document outlines the possibility of Whole Foods expanding into the German Market. Considerations are explored in the realm of German Culture, the Organic Food market, Competitors, Pros and Cons, Entry and Exit Strategy, and Human Resources strategy to declare whether or not Germany is an appropriate fit for Whole Foods. Whole Foods Entering Germany: Successful Whole Foods CEO John Mackey, is quoted as saying "If you want to be competitive in the long term, your business needs to have discovered its higher purpose and it needs to adopt a stakeholder philosophy." In a world where unhealthy food, rife with chemicals and saturated fats is becoming the norm; Whole Foods definitely seems to have found it’s higher purpose. Whole Foods, which is providing individuals with fresh organic food to promote a healthy lifestyle and a higher way of living is poised to spread this philosophy to the rest of the world. This stakeholder philosophy puts the ownership of healthy living on each and every one of us by providing the piece that has sorely been missing in the American market; options. The Whole Foods motto is “WHOLE FOODS, WHOLE PEOPLE, WHOLE PLANET”, therefore it is fitting that Whole Foods continues an expansion past Canada and the U.K into other areas of the world that can benefit from such options. The......

Words: 954 - Pages: 4

Free Essay

Analysis of Anheuser-Busch

...Making Inroads into Brazil and Mexico 1. What were the major challenges facing Anheuser-Busch in entering the Brazilian market? In entering the Mexican Market? The export.gov website describes several market challenges that a company encounters when doing business in Brazil. These challenges include: 1) an intimate knowledge of the local environment, including the explicit as well as the implicit costs of doing business (the “Custo Brazil”); 2) Logistics, given infrastructure limitations posed by a decade of economic expansion; and 3) Tariffs and a complex customs and legal system (www.export.gov 1). The vscgrowth.com website lists the following market challenges for Brazil: 1) The language – Most professionals in Brazil will need an interpreter because English is not widely spoken in Brazil; 2) Time zones and distance – Being on the other side of the world there is no overlap in business hours meaning holding phone or video conferences will have one party up very early or late; 3) Business culture tends to be “laisse a faire” or “introspective” and the different cultural background means priorities don’t always coincide with the US business psyche; and 4) Brazilian infrastructure needs improvement so as to support and capitalize on growth opportunities (www.vscgrowth.com 1). The startupoverseas.co.uk website discusses the following challenges in entering the market in Mexico: 1) cultural and language differences; 2) the Mexican bureaucracy and a complicated tax......

Words: 1029 - Pages: 5

Premium Essay

Marketing

...1. Assume that Ben & Jerry's committed to entering the Japanese market. Answer the following questions: a. Should they join with Seven-Eleven or Mr. Yamada? Why? Giving the facts presented in the Ben & Jerry’s Japan Case study and assuming that Ben and Jerry’s did decide to ultimately enter the Japanese Market, I suggest that they do so with Yamada. After reading and evaluating the case study and learning some back ground information about Ben & Jerry’s Homemade Inc., the reasons that I would suggest that Ben & Jerry’s enter the market with Yamada are because Yamada provides Ben and Jerry with the expertise needed to penetrate foreign markets. Also, by giving Yamada full control of Ben & Jerry’s Homemade Inc., the company would no longer have to address issues involved in putting together an entry strategy. Yamada understands the frozen food market and possesses the entrepreneurial spirit and the marketing expertise, as seen with the development of Domino’s Pizza brand in Japan. These qualities all bode well for Ben and Jerry’s because after several unsuccessful attempts to penetrate markets in Canada, Israel, Russia, United Kingdom, France and Benelux I feel that Ben & Jerry’s lacks the managerial skill to put together marketing campaign for entering foreign markets. The down side of deciding to move forward with Yamada is that they would have to relinquish full control of marketing and sales and Yamada would have exclusive rights to sell Ben & Jerry’s Ice Cream......

Words: 841 - Pages: 4

Free Essay

Article Review

...like the stage approach, foreign direct investment theory or the network approach. The following chapter describes the link between internationalization and entrepreneurship which leads to a definition of international entrepreneurship as “the discovery, evaluation, and explotion of opportunities across national borders” (McDougall, Oviatt 2005). Afterwards the authors introduce different motives and barriers of internationalization as well as factors that influence the foreign market selection and modes of entering new markets. To prove the stated characteristics the authors did a study using questionnairs which were sent to firms in Lithuania and Norway. As a result the authors get insights which internal and external motives and barriers as well as foreign market selection criterias and operational modes are most relevant for Norwegian and Lithuanian SMEs. There were many similarities among both countries like the “small domestic market” as a motive to expand their operations toward foreign markets as well as too much bureaucrarcy as one of the main barriers to enter new markets. On the other hand the authors found also differences, especially when it comes to internal barriers, selection criteria for foreign markets and modes of entering new markets. High start-up costs are the most important reasons that hinder Lithuanian SMEs from going international whereas Norwegian SMEs are more worried about limited management skills in their company. In the market selection process......

Words: 520 - Pages: 3

Free Essay

Adidas in Australia

...Adidas in Australia Adidas is a foreign company that is targeting Australia as a market destination for its sports products especial shoes and sporting attires. However, the prevailing conditions in Australia are very different from those of Germany where Adidas is based. The difference is in terms of societal, political, and economical factors. Therefore, before the organization considers venturing in Australia, it is imperative that the company considers foreign market entry strategies. Since the company specializes in sports attire, it is only considerate that the sports culture of Australia as a foreign market to the company is studied well. In addition, company should consider both political and economical factors of the Australian society. Successful businesses are premised on sound politics and economic environments of countries where they are located. The favorable the politico-economical factors of a country the success of a business and the contrary apply. However, potential alliances are also important for foreign markets and are also part of entry strategy (Walter & Murray, 1988). The above factors affect and are important to the entry into foreign markets. For instance, political and economical factors play key roles in the foreign markets entry through factors that influence them. Licensing, which informs the key option for entry into an international market like in the case of Adidas, is influenced by both economic and political factors. For instance,......

Words: 1249 - Pages: 5

Premium Essay

Going International

... Doing business internationally is not the same as doing domestic business. New skills are needed to learn in regards to laws and regulations, customers have different buying habits, and changes would need to be made to marketing strategies to appeal to the new market you are entering (Trade Start.CA, n.d.). Before entering a foreign market it is essential to clearly identify the motivations behind the decision to explore in the new marketplace. Determine what your domestic marketing strategy has been and how the plan employed by your company on local level might need to change in a positive way to tailor to the international territory (Forbes Woman, Sept. 2011). There are a few different things a business could do to prepare to leap in to the international market: educating yourself on the customs and business etiquette of the international market, gather historical data on the country’s currency value fluctuation and import/export timelines, becoming familiar with the country’s laws governing business, conducting a focus group to test the waters in the prospective international market, and find out what your competition is doing in the same market space (Forbes Woman, Sept. 2011). When entering a foreign market be sure to know the country’s history with the basics as far down to the proper way to greet someone, the average time citizens go to lunch. Be sure you are communicating with them in a way that caters to their culture, not your own (Forbes Woman, Sept. 2011). ...

Words: 835 - Pages: 4

Premium Essay

Economics

...and regulations, the different customer buying habits, and change your marketing strategies and materials to appeal to the new country you are entering. It is important to remember that the way you operate your business will be determined by culture of the market you are entering, not yours.  It is important to understand the differences between domestic and international business but they should not inhibit your interest or drive for success internationally. Rather they should whet your appetite for success.  Cultures No two cultures are the same and understanding both the social and business culture in another country is the first key to success. Culture defines everything a society does, from its business practices, to its response to advertising and marketing, to negotiating sales. It is important to include  research on the culture of the country(s) that you intend to sell to prior to entering their market. Understanding these, often sensitive, areas will mean that you are better prepared when first entering the market. Although the people that you will deal with will not expect you to be completely in tune with the culture, respect and politeness will go a long way.  Level of Competition The level of competition you will experience in foreign markets is likely to be more dynamic and complex than you experience in domestic markets.  A good strategic tool to use to determine if you are able to compete in a particular...

Words: 772 - Pages: 4

Premium Essay

Google in China

... Yahoo! became partners with Google on 2000, which helped the company become the world’s leading search engine. Also, search was offered in different languages such as Chinese, Japanese, and Korean. Its first foreign office was opened in Tokyo and by 2009 Google offered search options in 110 languages and had offices in dozens of countries. By August 2004, Google raised $1.6 billion on its initial public offering and on 2008 revenues hit $21.8 billion primarily from two advertising products AdWords and AdSense. AdWords bid in auctions for rights to keywords on specific geographical regions. On the other hand, AdSense delivered relevant keyword ads to a network of third-party publishers. In addition, Google offered a variety of other services such as Gmail, Picasa, Goggle Calendar, Blogger, Google Docs, Google Images, YouTube, Google News, Google Finance, Goggle Scholar, Goggle Maps, and Google Earth. Google originally served the Chinese market through it Chinese-language version, but it has to use Chinese Internet service providers. These providers filtered the search making slow and sometimes unavailable to Chinese users. In 2005, Google established a research and development center in China employing Chinese engineers which will help attract most of the Chinese market to use Google search engine. Finally, Google.cn was launched in 2006 making easier for Chinese to access all Google’s services. What Google did not take into consideration was...

Words: 1091 - Pages: 5

Premium Essay

Factors That Attractiveness of a Country for Foreign Investors

...attractiveness of entering into a country is a scientific system full of logicality. The argument says to assessing the attractiveness refers to reviewing its market, resource and competitive opportunities. This is a kind of one-sided statement because there are numerous of other perspective which are ignored. To be specifically, to assessing the attractiveness of entering into a country comprehensively, it is necessary to consider three main perspectives: country and market opportunities, country risks and competitive analysis. This essay will be discussing those three main aspects and its details with related examples and theories to explaining how to evaluating country’s attractiveness in investment perspective. 2. Country Opportunity The argument mentions market and resource can be considered as a part of country and industry opportunities which influence the attractiveness of a country. For example, economic growth is so much important to be considered before making decision to interning a country. Groh and Wich (2009) states their research illustrate that market size is one of key factor for the Central European transaction economics like Hungary, Poland and Slovakia. Furthermore, by the development of developing countries, emerging markets shows more and more attractiveness because of market and demand growth (Mello, 1997). Also, with the high level technology innovation environment and raw materials, it shows higher attractiveness for foreign investment.......

Words: 1236 - Pages: 5

Premium Essay

Bus401

...when it comes to a good cup of coffee, Starbucks has it figure out. The company has come a long way from when it was first founded in Seattle, Washington in 1971. Starbucks vision to become a global player in the coffee business has been at its forefront. The company went public in 1992 and hasn’t looked back since. It seems that anywhere you go; you are a few minutes away from a Starbucks. The company aggressively campaign to become the coffee leader in the United States. It’s not hard to imagine that Company executives believed in market saturation in order to dominate the market place. Now, there is a much need for Starbucks to span outside the United States and it is looking into global markets to keep its expansion plans. The best choice is the overpopulated country of China.  China seems to be a hot destination for many U.S. based businesses. Starbucks sees the vision of huge profits if it becomes successful in penetrating the Chinese market. When Starbucks looks at China as a new venture, it has to think of many different variables. The Chinese government can be a very difficult partner. The Chinese culture is much different from the Western culture Starbucks officials are used to. The geographic barriers that it faces must be studied as well. Aneki.com lists China as the 4th largest country in the world (9,596,960sq km) with lots of its population located in remote rural areas. However, China being the most heavily populated country in the world makes it a very......

Words: 691 - Pages: 3

Premium Essay

International Expansion at Tesco

...countries throughout Asia, Europe and North America. It is a leader in the UK grocery market with 30% market share (Channer & Hope 2001). The company employs approximately half a million staff worldwide, 250,000 of which are in the UK. It operates with 2,500 stores in the UK. Tesco sells more or less 40,000 food products all over the world and 65% of its sales are attained outside the UK. This evidence, the company high concern with its international operations that will be discussed in this report along with the evaluations of some other international operations related aspects to make some final recommendations. Driving Forces behind Tesco’s Sales outside to UK Retail environment of the world is changing significantly in almost all of its aspects and domains. Nowadays customers does not prefer to purchase different grocery items from different grocery stores as they feel comfortable to purchase it from some retail stores in which every grocery item is present at single place (Burt, Sparks & Teller 2010). Changing customer buying patterns and market trends are the major driving forces that encourage a company towards international expansion. Similar, is the situation with Tesco that also generate more of its sales from international locations (Channer & Hope 2001). It is because of several driving forces related to country’s own environment and effect of international market environment that are as follows: Increasing globalization: One of the...

Words: 1133 - Pages: 5

Premium Essay

Cochlear Born Global

...company that has reached over 100 countries. In order for a company to be considered born global they must have a quarter per cent share in foreign sales within two to three years of establishment (Kudinan, Yip and Barkema, 2008). When a company like Cochlear is born global the business must understand in depth each of the counties in which they market and sell their products, this can be done through the exploration of the countries macro environment. Discussed throughout this paper will be how different macro environmental factors in overseas markets and how each of them could potentially affect Cochlear’s global marketing mix. Borden, 1964 describes the marketing mix as a group of essential components or requirements that make up a businesses marketing strategy, in short it is made up of 4 components, product, price, place, promotion (Vignali, 1994). However, when entering into any market domestic of international, there are a number of factors that govern how the marketing mix is created, including trade behaviours, government regulations, competitors, and consumers purchasing behaviours (Grönroos, 1997). In order for the marketing strategy to be successful in any marketplace the correct mix of components must be chosen. This is the case for a born global company like Cochlear, as it is vital that when entering into overseas market places, they must look into the various political, legal, social, cultural and technological aspects of each new country as it provides a......

Words: 1134 - Pages: 5

Free Essay

Business Case Study

...still under its communist regime. Nevertheless, current trends in the trade and investment legislations of the state reveal the opportunity for foreign companies. One development in the regime indicated the decentralization of the decision making processes with regards to trade and investment. (2000) This gives a certain level of latitude for the foreign trade companies in China making the economic decision to expand their profit. A feature of this endeavour would be the proliferation of joint ventures in the country. Another reform that made China more accessible to foreign companies is the encouragement of foreign direct investment. (2000) This brought about net capital inflows and a sizable build-up of foreign exchange reserves which in turn assisted in the development of Chinese provinces like Fujian, Guangdong, Taiwan and Hong Kong. 2.    Economic Factors The Chinese government is a signatory of the WTO agreements which mean their economic policies are converted to suit the agreements of free trade as espoused by the WTO. This presents an advantage to foreign companies in entering the market of China. However, having just recently signed the agreement and having a considerable amount of time trading internationally with serious restrictions and trade barriers, there are still drawbacks that may pose a problem for these foreign firms. These include what  (2003) indicated as institutional problems inherent in China: regulatory institutions, normative institutions, and......

Words: 881 - Pages: 4

Premium Essay

Carrefour Strategy in China

...China Introduction: The Chinese market, along with Brazil, India and Russia, is one of the fastest growing markets in the world. It is the country with the largest amount of consumers. 250 cities with population over 1 million and a steady rise of living standards…   For the mass-market retailing, China offers limitless opportunities; more than for any other market segments. The challenge in China is that with this big population there is a wide range of diversity. Because of these differences, it is very important for businesses wanting to enter China to work with representatives from each respective region when expanding into these territories. Because Carrefour adapted exactly that strategy, and also learned from its experience in Taiwan, it was able to succeed. However, along with opportunities, foreign brands come up with numerous challenges regarding customers’ tastes, which are highly specific in China. Foreign brands, which are currently leading the market, had to adopt complex marketing strategies to gain the interest of new customers when entering the market long time ago. Carrefour, when targeting Chinese market in 1995, was facing considerable challenges before it became a market leader. Our focus is on Carrefour China market entry strategy Question 1: After a law passed in France in 1963 to restrict the development of large stores, Carrefour decided to enter the international market by adopting a route of forming......

Words: 848 - Pages: 4