International Marketing Report of Iceland

In: Business and Management

Submitted By jonnylo
Words 10415
Pages 42
Samantha Bugeja Matthew Holmes William Topp Yuwei Wu Dingyang Ren

Samantha Bugeja Matthew Holmes William Topp Yuwei Wu Dingyang Ren

International Marketing
International Marketing

08/03/2013
08/03/2013

Contents Executive Summary 3 Introduction 4 Mission Statement 4 Market Choice 4 Table 1 5 Quantification, Weighting and Ranking 6 Table 2 7 Internal Analysis 8 Overview of Iceland 8 Marketing Factors 8 Financial analysis 8 Manufacturing factors 9 Iceland’s current resources and competencies 10 Table 3 10 The Boston Consulting Group matrix (BCG) matrix 10 Figure 1 10 External Analysis 10 PESTLE 11 Competitive Environment 12 Retailers 12 Table 4 12 Frozen Food Manufacturers 12 Table 5 13 Customer Trends 13 Target Market 14 Porter’s Five Forces 14 Figure 2 14 Lotte Group Analysis 14 SWOT 15 Strengths and Weaknesses 15 Opportunities 16 Threats 16 Objectives and Market Entry Strategy 16 Objective 1(Short term: 12 months) 17 Objective 2 (Medium Term: 1-3 years) 17 Objective 3 (Long Term: 3-5 years): 18 Internationalisation objectives 18 Marketing Mix 19 Product 19 Price 21 Table 6 21 Table 7 21 Promotion 22 Place 23 People, processes and physical evidence 24 Implementation 25 Table 8 26 Figure 3 26 Figure 4 27 Control 27 Figure 5 28 Bibliography 28

Executive Summary
This report has been produced to provide Iceland Foods Group with a strategy to further internationalise. After investigation of potential countries it was decided that South Korea was the best market to enter. Analysis has been undertaken into both the external and internal environments with regards to South Korea and Iceland. Research into the frozen food sector in South Korea has shown the market is growing .The success…...

Similar Documents

International Marketing

...Acknowledgements 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Introduction to International Marketing The International Marketing Environment The International Marketing Information and Research Process International Competitive Marketing Strategies Market Selection Decisions and Entry Strategies Management of Exporting and Importing International Marketing Operations and Planning Product and Brand Decisions for International Marketing Service Strategies for International Marketing International Channels of Distribution and Logistics Management Pricing Decisions in International Markets Integrated International Marketing Communications International Business-To-Business Marketing Retail Internationalization and Marketing The Internet and International Marketing Ethics and International Marketing Index xix xxi xxiii xxiv 1 34 68 104 138 172 209 239 274 303 335 367 401 430 454 478 507 Contents List of figures List of tables List of mini case studies Acknowledgements 1 Introduction to International Marketing Introduction The nature of international marketing Contextual determinants of international marketing Historical development Definition of international marketing Relationship with other business fields A theoretical framework for international marketing Approaches to internationalization Factors causing internationalization The process of firms’ internationalization A holistic approach The motivation for firms to go international Trade theories and economic development......

Words: 24769 - Pages: 100

International Marketing

...UNIT 14 Research INTERNATIONAL MARKETING RESEARCH Objectives After going through this unit you should he able to • explain the global marketing research scenario • • • • • explain the scope of international marketing research describe the procedure for undertaking international marketing research describe the techniques available for international marketing research plan a field research describe the techniques available for interview • identify and explain the various steps in analysis of field data and preparation of research report Structure 14.1 Introduction 14.2 Marketing Research : The Global Scene 14.3 The Scope of International Marketing Research 14.4 International Marketing Research Procedure 14.5 Techniques of International Marketing Research 14.6 Survey Research 14.7 Techniques of Interviewing 14.8 Analysis of Field Data 14.9 Preparation of Research Report 14.10 Summary 14.11 Self-assessment Questions 14.12 Further Rea dings 14.1 INTRODUCTION In international marketing, the marketer is faced with a dilemma of having too much data and too little information. There is plenty of global data from sources like the World Bank and other international bodies, but often a lack of specific information on countries and markets. In helping to reduce uncertainty around decision-making, precise information is the key. Whilst searching for opportunities globally, uncertainties arise due to four main factors:...

Words: 5547 - Pages: 23

International Marketing

... MSc International Business International Marketing Assignment One Student No: B00630158 Word Count: 3020 Words Date of Hand in: 08/02/13 Content Page Section No Page No 1. Introduction 4 2. Product Information 4 3. Current Situation Analysis 6 3.1 Market Summary 6 3.2 SWOT Analysis 7 3.2.1 Strengths 8 3.2.2 Weaknesses 8 3.2.3 Opportunities 8 3.2.4 Threats 8 3.3 Competition 8 4. Market Entry 9 5. Marketing Strategy 10 5.1 Mission 11 5.2 Marketing Objectives 12 5.2.1 Segmentation 12 5.2.2 Targeting 12 5.2.3 Positioning 12 5.3 Communications Plan 13 5.4 Pricing Plan 14 6. Summary 14 7. References 15 1. Introduction This report will give information about the marketing plan of exporting Turkish coffee to the UK. The main information will be some background information about the coffee and the rest will be outlining and justifying the market and customer information, market entry methods, competitors and distribution channels. At the same time, the following plan formulates a new business strategy that will lead the way for future success. The most important part of a business plan is the Marketing......

Words: 3335 - Pages: 14

International Marketing

...this journal is available at www.emeraldinsight.com/0265-1335.htm International e-marketing: opportunities and issues Jagdish N. Sheth Goizueta Business School, Emory University, Atlanta, Georgia, USA, and E-marketing: opportunities and issues 611 Received October 2004 Revised June 2005 Accepted July 2005 Arun Sharma School of Business, University of Miami, Coral Gables, Florida, USA Abstract Purpose – E-marketing is growing at a dramatic pace and is significantly impacting customer and business market behaviors. As a result, most firms have started developing e-marketing strategies for the web. However, the evolution and strategic direction of e-marketing strategies in international environments has not been discussed and is the focus of this paper. Design/methodology/approach – In this paper, the authors examine two issues based on extant literature and our previous research in this area. The authors discuss e-marketing in an international context and develop a framework that will allow researchers and managers to understand the impact of country level effects on e-marketing strategies. The paper proposes that the evolution of e-marketing strategies is based on the countries infrastructure and marketing institutional development. Findings – It is found that international e-marketing strategies are fundamentally changing, and will continue to change, marketing thought and practice in international markets. The paper suggests that the e-markets of tomorrow may......

Words: 5666 - Pages: 23

International Marketing - Gruma Report

...|International Marketing | |Gruma Report | | | | I have been asked to prepare a report for Gruma UK subsidiary to assess France as| |a potential market for their flatbread products, hereare the findings. | | | | International Marketing Outcome 1 I have been asked to prepare a report for Gruma UK subsidiary to assess France as a potential market for their flatbread products, here are the findings. There are a number of reasons why Gruma have expanded its operations internationally and these can be split into two broad categories: - Push Factors and Pull Factors. Push Factors that Gruma may have to consider are that their own home market maybe saturated and that the company needs to increase growth by providing their products to an international market. Mexico is in economic recession and there is a lack of spending within the country. Another reason is there may be too many other companies supplying the same product in the home market. Economic recession maybe another factor that can be taken into consideration by Gruma...

Words: 1820 - Pages: 8

International Marketing

...UBTI2013 GLOBAL MARKETING Bachelor of Marketing (Hons) Bachelor of Business Administration (Hons) Bachelor of International Business (Hons) Bachelor of Business Administration (Hons) Entrepreneurship Year One Year Two 201401 3 credit hours 2 hours lecture per week for the duration of 14 weeks. 1.5 hours tutorial per week for the duration of 14 weeks 7 Lecturer and Tutor: Lecturer / Tutor  Mr. Neerjang Lama (Faculty of Business & Finance) neerjang@utar.edu.my  Dr Falahat Nejadmahani Mohammad (Faculty of Accountancy & Management) falahat@utar.edu.my 3 Year of Study: 4 5 6 Year and Trimester: Credit Hour Lecture hours & tutorial hours 8 9 Mode of Delivery: Moderator Lecture & Tutorial Dr Gengeswari a/p Krishnapillai - Assistant Professor gengeswarik@utar.edu.my 10 Objective: The objectives of this unit are:  To provide a theoretical framework for analyzing global marketing strategies and orientations.  To examine the relationship between global marketing environments and global marketing strategies.  To examine the concept of global marketing research and its impact to the global marketing.  To import the knowledge of various entry modes into a foreign market place.  To highlight various marketing mix strategies applicable to global marketing. 11 Learning Outcome: On completion of this unit, a student shall be able to:  Identify different levels of global marketing orientation and its respective implications in the global marketing......

Words: 5423 - Pages: 22

International Marketing

...trim) Submitted By: Ankur Chauhan Roll No: 09 PGDM IB 2013-15(IIIrd trim) GUIDE: Dr. POONAM CHAUHAN GUIDE: Dr. POONAM CHAUHAN International Marketing Strategy in Automobile Sector in Emerging market International Marketing Strategy in Automobile Sector in Emerging market Research Paper Research Paper Abstract Globalization has not only opened up new avenues for MNEs, but has also benefitted the emerging nations who have adapted to it. It has formed the basis of growth and development for most emerging nations of course other factors too are relevant). This research paper seeks to examine the international marketing strategies of MNEs in the automobile industry, specifically for the emerging nations, because as our subsequent findings will prove, that these markets are currently the most promising and will remain so at least for a few years to come. When we consider the emerging nations, the most promising ones are obviously the BRICs (reasons covered in the following sections). Hence, for readability and convenience purposes, we have limited our research to these nations. Keywords: Marketing strategy, BRIC, TRIAD, MNE, emerging markets, JV Objectives of Study: 1) International Marketing strategies followed by automotive companies in Emerging markets. 2) The study also aims at understanding whether the marketing strategy of these global automotive companies are justified by analysing its impact on the key statistically significant......

Words: 4313 - Pages: 18

International Marketing

... International Marketing The worldwide success of International Marketing: Strategy and Theory is without doubt due to the authors’ thorough approach to the topic. Standard marketing texts tend to use anecdotes gleaned from newspapers and magazines. In contrast, Onkvisit and Shaw use cutting-edge scholarly works to provide a theoretical and decision-making framework to guide marketing strategies and applications. This fifth edition has been fully revised to include new data from top journals, the International Monetary Fund, Prices and Earnings (published by UBS), and Transparency International. It is also the only textbook available to provide an in-depth treatment of such important topics as intellectual property, national competitiveness, marketing barriers, gray marketing, global advertising, bribery, countertrade, and currency strategies. Sak Onkvisit is Professor of Marketing at San José State University, U.S.A. He has authored several books and has published in leading journals. An internationally recognized scholar, he has taught in several countries and has served as a Fulbright Senior Scholar and a Fulbright Senior Specialist. John J. Shaw is Professor of Marketing and Director of the MBA Program at Providence College. His teaching and research interests include Marketing Management, International Marketing, and Consumer Behavior. He has co-authored over 80 papers in journals and at conferences, as well as three books. International Marketing Strategy and......

Words: 329513 - Pages: 1319

International Marketing

...PART SIX Country Notebook THE COUNTRY NOTEBOOKA GUIDE FOR DEVELOPING A MARKETING PLAN TH E CO UN TRY N O TEB O O K O U T LI N E Cultural Analysis Economic Analysis Market Audit and Competitive Market Analysis Preliminary Marketing Plan cat2994X_cn_579-588.indd 579 8/3/10 2:44 PM CONFIRMING PAGES 580 Part 6 Supplementary Material The first stage in the planning process is a preliminary country analysis. The marketer needs basic information to evaluate a country market’s potential, identify problems that would eliminate a country from further consideration, identify aspects of the country’s environment that need further study, evaluate the components of the marketing mix for possible adaptation, and develop a strategic marketing plan. One further use of the information collected in the preliminary analysis is as a basis for a country notebook. Many companies, large and small, have a country notebook for each country in which they do business. The country notebook contains information a marketer should be aware of when making decisions involving a specific country market. As new information is collected, the country notebook is continually updated by the country or product manager. Whenever a marketing decision is made involving a country, the country notebook is the first database consulted. New-product introductions, changes in advertising programs, and other marketing program decisions begin with the country notebook. It also serves......

Words: 2957 - Pages: 12

International Marketing

...International Marketing plan on FlipKart Service Student ID: 350 2015 DEEPAK, STUDENT ID: 350 FlipKart Manager 7/16/2015 FlipKart Service Submitted to Udara Wickramasinghe Submitted by Deepak Kumar Sreeramula (Student ID: 350) ICNZ 2015 Executive Summary China's spectacular economic growth-averaging 8% or more annually over the past two decades-has produced an impressive increase in the standard of living for hundreds of millions of Chinese citizens. At the same time, this economic development has had severe ramifications for the natural environment. There has been a dramatic increase in the demand for natural resources of all kinds, including water, land and energy. Forest resources have been depleted, triggering a RANGE of devastating secondary impacts such as desertification, flooding and species loss. Moreover, poorly regulated industrial and household emissions and waste have caused levels of water and air pollution to skyrocket. China's development and environment practices have also made the country one of the world's leading contributors to regional and global environmental PROBLEMS, including acid rain, ozone depletion, global climate change, and biodiversity loss. Without greater attention and commitment from the centre, China's environment is likely to CONTINUE to deteriorate throughout much of the country, causing......

Words: 6262 - Pages: 26

International Marketing

...5 Stages in the Evolution of Global Marketing: 1. Domestic Marketing: Ethnocentric orientation. 2 Export Marketing: Ethnocentric orientation. 3. International Marketing: Polycentric orientation 4. Multinational Marketing: Regiocentric orientation 5. Global Marketing: Geocentric orientation Domestic marketing: A company marketing only within its national boundaries only has to consider domestic competition. Even if that competition includes companies from foreign markets, it still only has to focus on the competition that exists in its home market. Export marketing: Generally, companies began exporting Indirect Entry means turning over international sales to a third party. Generally speaking, this third party does the exporting for you. Indirect entry can also include licensing deals as well. By utilizing indirect exporting, a company could use the services of an Export Management Company, distributors, or commissioned agents or brokers. Direct Entry you are dealing with a company in the foreign market, so it can be the end-user, retailer, distributor, or export management company in that market. Because the manufacturer is more involved, the manufacturer makes decisions about the entire export process - from market and distribution, sales fulfillment, and payment. International marketing: If the exporting departments are becoming successful but the costs of doing business from headquarters plus time differences, language barriers,......

Words: 654 - Pages: 3

International Marketing

...of contents 1.0 Introduction 2.0 Situation analysis 3.0 Summary of key issues/challenges 4.0 Strategic Options and recommendations 5.0 Marketing Mix 6.0 Summary 7.0 References and bibliography 8.0 Appendices Introduction The global fashion industry is altering with higher end fashion stores opening and selling their goods on display in more international markets such as China. This report analyses and develops the foreign markets for high end fashion. A company has been set up is called Ted Maker Ltd. The company is looking into investing in overseas with its business. The company is already an established company which sells accessories in the UK. This report will seek to develop whether or not the company should open a store overseas. With competitors opening new stores and an increase in new store development, competition in the market is getting high. This indicates that how critical it is to the chain to expand its product lines and operations, in order to advance a competitive strategy to expand the financial attainment in the high fashion industry. The report will be seeking to identify important facts and figures around the business to recommend the best course of action to expand the chain. This report seeks to provide an analysis of the luxury accessories store by undertaking a strategic audit. The report will consider going on to any feasible strategic possibilities in worldwide expansion. 2.0 Situational analysis 2.1 Macro and Micro......

Words: 2223 - Pages: 9

International Marketing

...Introduction The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.   Red Bull’s marketing strategy is one of the key factors in their success, they created Mobile Energy Team that consists primarily of young university students driving around in specially designed Mini Coopers with large Red Bull cans on top to attract the younger audience. The students are Red Bull’s team out in the field that attend different events and provide sampling of the energy drink. Oftentimes, the Red Bull representatives host parties with cases of Red Bull. These representatives collect data from these parties and send it back to the company as a form of low cost market research. In 2010 Red Bull had 7,758 employees of which 5,000 were university students. Red Bull is also known globally for hosting extreme sporting events and sponsoring some 500 athletes. Over the years they have acquired four soccer teams, a Nascar team, and two......

Words: 4713 - Pages: 19

International Marketing

...International Paper: Combining Industry and Social Responsibility Marketing 406 Roosevelt University December 6, 2014 Natalie Mierzynska, Sujatha Lekshmivaragan, Dmitry Rozental, Ebuka Nkwonta Table of Contents Background 2 Objectives 4 Procedures 4 Summary of Findings 4 Detailed Findings 6 Defying Common Criticisms 6 Integrating Sustainability Principles 8 “Greening” and Beyond 11 Enlightened Marketing 14 Social Responsibility & Financial Success 15 Conclusion 16 Works Cited 18 Background International Paper (IP) is the global leader in the production and distribution of paper and packaging products (Internationalpaper.com). It was founded more than 110 years ago, and produces products that we use every day including various types of paper, consumer packaging, pulp, recycling, and industrial packaging. The company’s stock symbol is IP, and a share of IP stock currently sells at around $53/share. IP is currently headquartered in Memphis Tennessee, and employs over 62,000 people (Kotler & Armstrong, 607). Last year, the company sold over $26 billion worth of product, placing it 111th on the Fortune 500. From a consumer perspective, when a multi-billion dollar producer of paper and packaging products comes to mind, we automatically assume that the company produces a large amount of pollution and destroys forests all over the world. However, International Paper prides itself on being on top of Fortune Magazine’s......

Words: 4020 - Pages: 17

International Marketing

...Chapter 01 The Scope and Challenge of International Marketing True / False Questions 1. (p. 3) Global commerce thrives during peacetime. TRUE Difficulty: Easy Type: Knowledge 2. (p. 4) To date, the lesson for international commerce in the 21st century is "expect the unexpected." TRUE Difficulty: Easy Type: Knowledge 3. (p. 5) Today, every American business is international. TRUE Difficulty: Moderate Type: Comprehension 4. (p. 5) One event that will influence the shape of international business as the future unfolds is the rapid growth of the World Trade Organization, NAFTA, and the European Union. TRUE Difficulty: Moderate Type: Comprehension 5. (p. 5) One event that will influence the shape of international business as the future unfolds is the unprecedented acceptance of communism and socialism in Latin America. FALSE Difficulty: Moderate Type: Comprehension 6. (p. 5) A trend that will impact international business in the future is a mandate to properly manage the resources and global environment. TRUE Difficulty: Moderate Type: Comprehension 7. (p. 5) Today, most business activities are local or regional in scope. FALSE Difficulty: Moderate Type: Knowledge 8. (p. 6, Crossing Borders 1.1) What do French farmers, Chinese fishermen, and Russian hackers have in common--they can all receive subsidy payments from the U.S. government. FALSE Difficulty: Moderate Type: Knowledge 9. (p. 6) Foreign-made products remain a small...

Words: 6019 - Pages: 25