Free Sample: International Marketing paper example for writing essay

International Marketing - Essay Example

This international marketing environment consists of a number of elements most of which lie outside the control of the firm (Figure 1) Figure – 1: International Marketing Environment It is not possible to launch a product in international market without sufficient research and development. There are a number of steps that need to be taken before you decide to enter international markets. The first step involves an analysis of the international marketing environment through a PEST/STEP analysis. Let’s briefly look at some factors that make up a PEST analysis: Political Factors Consider: The political stability of the nation.

Is it a democracy, communist, or dictatorial game? Monetary regulations. Will the seller be paid in a currency that they value or will payments only be accepted in the host nation currency? Is there any historical relationship between countries that would benefit or hinder international marketing? What is the influence of communities or unions for trading? E. G. The European Union and its authority over European laws and regulation. What kind of international and domestic laws will your business encounter?

What is the nature of politics in the country that you are targeting, and what is their view on encouraging foreign competition from overseas? Figure 2 ranks the factors that affect a country’s investment climate, note that policy uncertainty dominates the concerns of firms. However, variations in political and legal environments can also offer new opportunities to international marketers Figure – 2: Environmental shortcomings of Investment Climate The World Trade Organization has, for the first time, decided to consider placing bribery rules on its agenda.

A good portion of this progress can be attributed to the public work done by Transparency International (T’). This nonprofit organization regularly publishes information about the perception of corruption in countries around he globe. In addition, TTL also reports on countries whose firms are most and least likely to offer bribes – as shown in Table 2. A country’s Corruption Perception Index shows the degree of corruption perceived by business people and country analysts. Possible scores range from 10 (very clean) to O (highly corrupt).

The top ten least corrupt and most corrupt countries are shown above, along with their world ranks and ICP scores. Table 2 Corruption Perception Index Least Corrupt Most Corrupt Rank Country ICP score Ice Land 144 Atkinson 2 Finland 151 Angola New Zealand 152 Cote d Vireo 3 Denmark Equatorial Guiana Singapore Nigeria 5 Sweden 155 Haiti 6 Switzerland Manner 7 Norway Transmitted 8 Australia 88 158 Bangladesh 9 Austria Chad Source: Corruptions Perception Index 2005, Dry. J. Graff for Transparency International, University of Pappas, Germany, http:// wry. Transparency. Erg Economical Factors Consumer wealth and expenditure within the country. National interests and inflation rate. Are quotas imposed on your product? Is there import tariffs imposed? Does the government offer subsidies to national players that make it difficult for you to compete? What is the level of new industrial growth? E. G. China is experiencing terrific industrial growth. What is the impact of currency fluctuations on exchange rates, and do your home market and your new international market – share a common currency? E. G. Polish companies trading in Eire will use Euros.

There are of course the usual economic indicators that one needs to be aware of such as inflation, Gross Domestic Product (GAP), levels of employment, national income, the predisposition of consumers to spend savings or to use credit, as well as many others. World markets can be divided into four tiers of consumers based on broad measures of income, as shown in Figure 3. Tier 1 consists of 100 million consumers from around the world. Typically, this means consumers in developed markets, such as the COED, but also includes the rich elites in developing markets.

Tier 2 consists of the lower income segments in developed markets, while Tier 3 includes the rising middle class consumers in emerging markets. Tier 4 is home to the average consumer in developing markets Figure -3: World Economic Pyramid Social Factors Language. Will language be a barrier to communication for you? Does your host nation speak your national language? What is the meaning of your brand name in your host country’s language? Customs: what customs do you have to be aware of within the country? This is important.

You need to make sure you do not offend while communicating your message. Social factors: What are the role of women and family within society? Religion: How does religion affect behavior? Values: what are the values and attitudes of individuals within the market? Culture may be defined as the standards of beliefs, perception, evaluation, and behavior shared by the member of a social group. Some authors even define cue True as, the collective programming of the minds” that distinguishes the members of one group of people from another.

Most traditional definitions of culture centre around the notion that culture is the sum of the values, rituals, symbols, beliefs, and thought processes that are learned, shared by a group of people, and transmitted from generation to generation. So culture resides in the individual’s mind. Elements of Culture: Language (Verbal, Nonverbal), Religion, Values and attitudes, Manners and customs, Material elements, Aesthetics, Education, Social institutions Technological The technological infrastructure of the market.

Do all homes have access to energy (electricity) Is there an Internet infrastructure. Does this infrastructure support broadband or dial up? Will your systems easily integrate with your host country’s? The diffusion of Internet technology into core business processes and into the lifestyles of consumers has been rapid, especially in industrialized countries. The number of Internet hosts has increased to 353,2 million by 2005, up from 56,2 million in 199.

The total number of people using the Internet is difficult to estimate. Estimates in Early 20069 put the number at nearly one billion (see Table 3). There are naturally significant differences within regions as will, for example, within the European Union, The Nordic countries have penetration rates of 70 percent, while new member, such as Poland, are at less than 30%. Table – 3: World Internet Usage Grant project VEGA 110471 /08. The marketing communication company service – Integrated model and customer communication. 2.

Analytical Models Followed Multinational companies which compete in global market needs a clear and well focused strategy framework or analytical models to analyze and implement strategy plan. Below figures depicts The five stage process model, PEST analysis etc. A The Five Stage Process Model b PEST Analysts c Porters five force model . The International Marketing Planning Process The planning process is the method used by the management of the firm to define in detail how it will achieve its current and future strategic aims and objectives.

In doing this, it must evaluate the current and future market opportunities, assess its own current and potential capabilities and attempt to forecast how those changes over which it has no control might help its efforts to reach its objectives. The international marketing process must allow the company to answer the following marketing questions: 1 . Where is the company now? 2. Where does it want to go? . How might it get there? The obvious benefits of strategic planning are all staff can be better motivated and encouraged to work more effectively by sharing a vision of future.

There are number of elements in international marketing plan as illustrated in the following figure: The ability of the company to pursue its chosen marketing strategy is determined to a large degree by aims and expectations of the stakeholders who directly or indirectly provide the resources and support needed to implement the strategies and plans. The following figure identifies the typical stake holders of multinational enterprises. A checklist of essential elements of international marketing plan is summarized in the below figure: 4. Case study: Procter & Gamble Co. Client Description Procter & Gamble Co. Also known as P&G, is an American multinational consumer goods company headquartered in downtown Cincinnati, Ohio, United States, founded by William Procter and James Gamble, both from the United Kingdom. Global Presence Details United States Canada Philippines Mexico Indonesia Middle East Latin America Europe Japan China and other parts of Asia South Korea Africa Brazil Products Operations Foods, beverages, cleaning agents and personal care products Beauty segment Grooming segment Health Care segment Snacks & Pet Care segment Fabric Care & Home Care segment Baby Care & Family Home Care segment Major Achievements In 2012, P&G recorded $83. 8 billion in sales. P&G remains a highly selective employer as less than 1% of all applicants are hired annually Fortune magazine awarded P&G a top spot on its list of “Global Top Companies for Leaders”, and ranked the company at fifteenth place of the “World’s Most Admired Companies” list. Chief Executive Magazine named P&G the best overall company for leadership development in its list of the “40 Best Companies for Leaders” In October 2008, P&G as named one of “Canada’s Top 100 Employers” by Mediator Canada Inc. , and was featured in Manacle’s magazines.

Later that month, P&G was also named one of Greater Torso’s Top Employers, which was announced by the Toronto Star newspaper In February 2014, Glissando placed P&G 34th on their annual Best Places to Work list Product wise Share a International Marketing Strategy of P&G P&G’s Chief Financial Officer Jon Mueller was a featured speaker at the Goldman Cash Staples Summit 2014 in New York City. P&G attends a number of investor conferences each year, and at this event, he presented to investors and analysts who allow companies in the consumer goods industry.

He began with a review of recent results from the Company’s third quarter earnings announcement on April 24, and recapped key priorities for the audience of investors and analysts. B Target Strategies and Competitive moves used to enter different markets P&G to cut marketing spend this year in efficiency drive: COOP Jon Mueller says shift to digital means ‘dollars spent is no longer representative of the strength of a marketing programmer’. P&G invests 30% of media spend in digital: Figure comes as P&G places emphasis on improving marketing efficiency and boosting slowing revenue growth.

P&G plans ‘major innovations’ as sales growth stagnates: P&G emphasis dedication to innovation and equity over price promotions. New Pampers Plant Opens in Hungary: March 11 marked the official Grand Opening of a new Pampers Plant in GuyГ¶NagyГ¶s, Hungary New P&G Plant Opens in Nigeria: Earlier this month, they hosted a ceremony to mark the highly-anticipated opening of a new manufacturing plant in Nigeria (Gasbag, Gun State). Many local and state government officials, P&G partners, employees and local personalities came to show their support of the new Pampers plant-?along with a group of top global and regional P&G leaders New

Jakarta Indonesia Plant Opens: The Jakarta Plant represents a multi-year investment to build world-class facilities that manufacture multiple categories of products from our portfolio of trusted brands c P&G Growth Strategy The following figure illustrates details of P&G Growth strategy: Strengths of P&G’s International Strategy: Ability to respond effectively to the new and complex demands of their international business environments Ability to attain economies of scale Ability to increase learning 5. Findings and Conclusion Why Market Internationally?

To grow revenues by expanding beyond any existing domestic market To leverage he current growth of many foreign economies To diversify business opportunities and increase client base To tap into foreign markets with higher profit margins To capitalize on efficiencies available to assist in exports/imports To gain access to new markets and innovative business models Developing a Global Mindset Learn, understand and adapt to regional and cultural differences Keep up with current global trends, news and worldwide events Access business environment to analyze consumer demand Follow local exchange rates to determine competitiveness Research possible market entry restrictions and regulations Be ready to become flexible to accommodate new markets Developing a Market Strategy Who is your target audience? What is your market potential? How will you reach them? How will it vary by market/country? What is your key message and selling point? What is your timeline period to measure success? Identifying Marketing Goals What is your range of market penetration? What is the key message you will deliver? How will you highlight your competitive advantage? How will you encourage call to action?

Free Sample: International Marketing paper example for writing essay

International Marketing - Essay Example

Manner has been a great opportunity for foreign investors who want to invest in Manner due to its availability of resources. Availability of clean water has been one of the sector where it has been neglected over the years where people have been facing huge difficulties in getting clean water especially in dry seasons. This report is analyses the political and legal, economic and financial and social and cultural market of Manner to see the opportunities Manner holds for foreign markets to enter in their market.

Manner faces a political reform in 2011 which has brought an end to the military overspent that exist in Manner for more than 50 years. The new President of Manner, Then Seine has promised to start working for the development of the country and maintain the peace between the multi-ethnic state. Although with challenges within the infrastructure of the country, Manner presents a long run opportunity for investors. Manner has improved economically over the past few years and according to Asian Development Bank (ADS), it is expected for Manner to have a growth of 7 to 8 per cent a year.

While religion has a huge influence on Manner and its culture there have been conflicts between the multicultural and lit-religious states with different ethnicities. However the government has started their work to attain a more peaceful environment where the rights of the people are protected and everyone is treated equally. Manner has been moving towards a more democratic direction and to a more open economy. Even though their reforms are in emerging status, the country has gone through a transformation in both political and strategic direction.

For a company such as Kent, it would hold a great number of opportunities to enter into an emerging market such as Manner. Introduction This report is to analyses the market of Manner whether it has a potential environment for Kent Reverse Osmosis Limited to market their product – Kent Water Purifiers. Manner Manner or Burma is a largely rural country with principal source of Jade, pearls, rubies and sapphires. While Manner is also blessed with highly fertile soil, offshore oil and gas deposits it is not used most efficiently (BBC, 2013).

For nearly two decades, Manner faced human rights violations as a country beset by systematic denial of basic freedom of assembly, association and expression and where media pet stifled while the citizens suffered brutal and a long civil war which incarcerated thousands of political prisoners (Matheson, 2013). Manner still faced challenges which are the effects of 50 years of ruinous military rule. However since the political and economic reform in 2011, it has improved this condition.

The economy of Manner stands as a least developed countries and they are going through years of unproductively, mismanagement, and remoteness (BBC, 2013). Manner has faced problems with underdeveloped infrastructure for years and basic needs such as water have been neglected over the years. Kent Reverse Osmosis (OR) Limited (Kent) Kent Reverse Osmosis (OR) Limited was established in 1999 in Oneida, India bringing out the revolution of Reverse Osmosis technology to India.

In their 1 5 years of operations in India, Kent established the business as a market leader in India by providing innovative products ranging from Water Purifiers, Air Purifies, Vegetable and Fruit Purifiers to Water Softeners. Leading their innovation, Kent is also ISO 9001 :2008 certified and a strong or organization with offices across India and most importantly, millions of satisfied customers to its credit worldwide today (Kent, 2014). According to the founder and chairman of Kent OR Systems, Mr.. Mashes Guppy, Kent has been growing 40 to 50 per cent every year and the company has multiplied 10 times over since 2006 (Sings, 2011).

This brisk pace is instantly evident because in April 2011, 23000 Kent units were sold across their portfolio of nearly 25 products, which also now includes their other innovations leaving their monthly sales 30000- mark resolutely behind (Sings, 2011). Political, Legal and Technological Environment The political and legal risks challenged in foreign markets are significant to a large extent when entering into a market because these risks are a major aspect in determining whether to enter the market as the political and legal factors differ vastly between different countries (Fletcher & Crawford , 2014).

The Manner’s political condition changed surprisingly in 2011, when the Senior General Than She, resigned and handed over power to a civilian government under the leadership of the newly elected President Then Seine (Bunted, 2014). Although President Then was a member of the ruling military council he introduced a lot of political reforms in Manner which included release of many political prisoners and the expansion of he civil rights and liberties in Manner. Moreover, he also launched a new peace initiative and promised political dialogue to the ethnic groups of the multi-ethnic state (Bunted, 2014).

It is believed that the party National League for Democracy (NIL) has good chances of winning in free and fair elections in Manner at the end of 201 5 which seeks to bring peace and reconciliation, deepen the rule of law and initiate constitutional reforms in Manner. In 2012, President Then approved the New Law on Foreign Investment (NAIL) and repealed the Foreign Investment Law in Manner. According to the NAIL, it clarifies that the foreign investors may own up to 100% of the capital in foreign-invested companies in certain sectors (Loves, 2013).

Moreover, the NAIL also provides that enterprises may be granted a 50% tax relief on goods. While it also permits foreign invested companies operating in sectors that require skilled personal to employ up to 75% foreign employees in its first two years of operations. Even though the state of Manner’s infrastructure poses challenges for those wishing to establish their operations for a business with an eye on the long-run, Manner presents an extraordinary Asian opportunity for a company such as Kent.

Manner is moving towards a more peaceful environment with more open opportunities for such investors especially since Manner has been facing shortages of clean water. In order to carry out research and development work for the development of nation’s industries Manner also established Ministry of Science and Technology in 1996. Departments and Institutions such as Science and Technology Research were transferred under the Ministry to promote the effectiveness and success in the development of science and technology in Manner.

Economic and Financial Environment The global economic and financial environment is unpredictable, as the events since the global financial crisis of 2008 have shown (Fletcher & Crawford , 2014). Manner with an estimated population of 55,746,253 for July 2014 have population growth rate of 1. 03% where with a large proportion of young and a smaller proportion of the elderly as shown in Appendix A. Manner still remains as a poor country and the GAP per capita remains at only around SIS$850 a head as the poorest country in SEAN (Mint, 2013).

However, Manner has improved their GAP per since the last few years as shown in Appendix B. In addition, Asian Development Bank (ADS) estimates that Manner can grow 7 to 8 percent over the next years (Asian Development Bank, 2013). As for Manner’s IN per capita according to Purchasing Power Parity (APP), was SIS$1950 latest in 2010 according to the World Bank. IN per capita in Manner has also increased to a significant level in the past years, as shown in Appendix C which shows improvement of income of residents of Manner.

Inflation in Manner was recorded 5. 53% in December 2013 which has improved over the years from as high as 49. 7% in 2003 which can be seen in Appendix D. Manner government also have started many public work programs after the economic liberalizing such as roads, bridges, ports, communication, commercial and resident real-estates which has been impeding the economic growth (Manner Infrastructure Summit 2014, 2014). It is potentially the next emerging hotshot in Asia that could open for a variety of sectors due to its riches in oil, gas, timber and gems.

The improvement in Manner’s economy is a positive sign for a company like Kent to establish a market since with the improvements in economy; it also increases the purchasing power of consumers leading to an overall increase in the standard of living in Manner. Moreover, Manner enters rankings global competitiveness ranking at 19th among 148 economies after the 2011 elections that brought profound changed to the country.

The Manner government has embarked on an ambitious process of reforms to improve the country’s economic landscape and prospects, notably by leveraging Manner’s extraordinary assets, which include an abundance of natural resources, very favorable demographics, and a strategic location in Asia. Cultural and Social Environment Culture can be described as a way of living that is accepted by a group of people, and he culture differ each other on various cultural dimensions (Fletcher & Crawford , 2014).

Buddhism is a very important part of Manner’s culture and it reflects the private and public life of the citizens. People spend time learning their religion such as monastic education the monks and nuns hold a respected place in the society such as they should not be touched and they hold privileges such as the freedom of first class travel on public transport or even at times their own reserved places. Manner is a multicultural, multi-religious state which is officially composed to 135 pub-groups in eight major ethnicities as shown in Table 1.

With the eight ethnicities, a high degree of tenth-religious tension continuous to exist in Manner where there have been a marked escalation of friction between Buddhists and Muslims (Chalk, 2013). The most severe situation remains between the coastal state of Raking, where two consecutive attacks were made against Rehiring (a Muslim ethnic group) in 2012. The issue of anti-Muslim violence has was brought up during the President Thinness historic visit to the White House in May 2013, when President Obama made it Lear that attacks against the Romania had to stop.

Moreover, the government is in pressure to commit to political reform and provide equal protection of civil and human rights to the entire population of Manner. With the government insistent and the pressures to end the conflicts between the ethnic groups it is held that Manner would work to attain a more peaceful environment where the rights of people are protected and treated equally. Conclusion After decades of repressive rule and self-imposed isolation, Manner has recently begun improving political, economic and social challenges that they are facing (Chalk, 013).

Since 2011, Manner has moved to a more democratic direction and to a more open economy. Although these changes still are in their emerging steps, the country has embarked on a transformation in both political and strategic track. The government has started its work towards the country’s growth specially by focusing the poverty and rural underdeveloped areas. Moreover towards securing Manner’s overall ethnic peace process as well. It is believed that through such initiatives it will provide more favorable business climate for attracting outside investors, Jobs and infrastructure to Manner’s future.

Free Sample: International Marketing paper example for writing essay

International Marketing - Essay Example

L. Background Information on Brazil a. Economic Information Several online websites address the current economic conditions in Brazil. The Brasilia. Com website reports that “the economy of Brazil is the world’s seventh larges (Brasilia. Com 1). The website further asserts that Brazier’s economy continues to grow rapidly, that Brazil manufactures submarines and aircrafts, and that Brazil invests in ethanol production and deep water oil research. The interdependency. Com webs lists the following cities where most economic activity takes place: ROI De Jeanine, SAA

Paulo, Below Horizons, and Unmans. This website also lists the following industries as contributing to the Brazilian economy: agriculture, sugarcane and coffee, cocoa, roan GE Juice, soybeans, tobacco, forest products, and tropical fruits and nuts, as well as livestock production, steel, automobiles, petrochemicals, computers, aircraft, and consumer durables. However, the celebrations. Com website offers that the high inflation rate in Brazil causes poverty. In addition, the celebrations. Mom website informs that there now exists a huge gap between the rich and the poor in Brazil, who h would lessen when poor people have access to education and the opportunity to develop reading skills. In a recent article dated October 1, 2013, the www. Goalposts. Com website reports that Brazil now experiences disappointing economic growth. Despite Preside NT Dilemma Rouses efforts to revive the economy with stimulus packages and tax cuts, the GAP grew only 0. 6 percent and both stock market and currency rates plummeted.

To her economic problems in Brazil include: “high salary costs, falling productivity, and terra able 2 logistical bottlenecks that Rousseau has not yet addressed” ( www. Goalposts. Mom 1). In addition, Humblers Barbara, president of BEANIE, a lobby group for the electronics industry, predicts that unless infrastructure resolves its problems, industry will iconic nee to suffer ( 1). The website also informs that household consumption grew Just 0. 1 percent due to inflation which adversely affected the purchasing power of consumers. In order to combat the problem of high inflation Brazil has increased inter rest rates.

Brazier’s business leaders have also encouraged Rousted reform tax and labor r costs “so factories can regain their competitiveness at home and abroad” ( 2). Although Brazil now experiences these problems, the article states that Brazier’s economy still flourishes in some areas. These areas include: low unemployment, strong foreign investment levels, Rouses approval rate of 80 Pearce and a strong harvest and increased agricultural activity. In addition, Guide Manatee (Brazier’s Finance Minister) asserts that the investment growth trend will continue.

The article concludes with David Reese’ (an economist for Capital Economics in London) suggestion that Brazil should rebalanced the economy towards investment in order to create growth rates of five percent, which investors want to see ( ). A recent article in The Economist , titled “The Price is Wrong,” and dated September 28, 2013 reports that “Brazil offers appalling value for money’ ( whom. Economist. Com 1). The article states that a pizza in Brazil costs $30 and also that a cheap, windowless hotel room in ROI costs $250/night.

The article also reports that 3 payroll taxes are 58% of salary, that a Broadminded car costs 45% less in Mexico than in Brazil, that a smartened costs 50% more than in the US, and that large domestic appliances and cars cost 50% more than in other Mendocino countries. The article presents the following reasons why these problems exist in Brazil: poor infrastructure, high crime rates that necessitate an army of 650,000 security guards, expensive office rents, expensive credit, decreased household consumption, and decreased exports of manufacturing goods.

The article explains that the Brazilian people go on foreign shopping sprees in order to make more economical purchases a ND to avoid the “Custom Brazil” which “refers to the increased operational costs associated with doing business in Brazil, making Brazilian goods and services more expensive compared to other countries” ( wry. Economist Another recent article in , titled “Stuck in the Mud,” and dated June 8, 2013 describes the current economic growth of Brazil as feeble and limited.

The article informs that Brazil now experiences a trade deficit, a shrinking primary fiscal surplus, and growing government debt mainly due to domestic rigidities The article also discusses Dilemma Rouses efforts to “stimulate growth by hiking public c spending and the minimum wage, and forcing starters banks to lend more” ( wry. Economist. Com 2). Again, despite these efforts, consumer confidence continues to suffer, which greatly impairs economic growth.

The government (the Central Bank) has responded by increasing base interest rates to 8% in addition to eliminating a tax foreign purchases of bonds in order to increase currency inflows and to “slow the weakening of the real” ( 2). The government has also attempted to 4 solve these problems by encouraging investment and discouraging consumption. However, these efforts proved unsuccessful for the steamrollered oil giant Petrol’s, for the sugarcane ethanol industry, and for the electricity and banking industries.

Other attempts to correct the dismal situation include: investments in the oil industry, the overpayment’s attempts to attract bidders to its road and rail concessions, and stimulating sales to increase business confidence. However, the challenging and diverse political landscape in Brazil, as well as Rouses inability to be diplomatic, WI II most likely cause further corrective actions to be unsuccessful. Http:// Brasilia. Com/economy/ http://www. interdependency. Com/Brazil/economy. HTML http://www. celebrations. Com/bristlecone. HTML http://www. Goalposts. Com/dispatch/news/thunderstorms/131001 lb architectonic grog http:,’/’. NP. N. R;. N’. Economist. Com/news/spectators/21 586678whyb raziloffersappallingval http://www. Economist. Com/news/Americas/21579048feeblegrowthhasforcedchange c b. Demographics As of July 2012, Brazil had a population of 199,321 ,413 people, with the majority being in the 2554 age range. The majority of their population (87%) resides in urban areas. The largest city in Brazil is SAA Paulo with about 20 million residents.

ROI De Jeanine, where the 2016 Summer Olympics will be held, is the second largest city with about 12 million residents. In terms of diversity, over half of Brazier’s residents are Caucasian and the second 5 largest group is mulatto (mixed), making up almost 40% of the total population. The official and most widely spoken language is Portuguese. The largest religious group I s Roman Catholic, with almost thirds of the demographic. A vast majority of Brazilian are literate with 89% of the population fifteen years old and over being able EOT read and write. Http://www. Undermined. Com/Brazil/demographics_profile. HTML ) c. Cultural information Sports are very popular and important in Brazil. Most citizens regularly follow and participate in various sport activities. The most popular sport in Brazil is football (American soccer). It is said that football “… Is in the blood of the people of Brazil”. Brazier’s tropical climate is excellent for playing and practicing football. Brazil is also the only country to have participated in and qualified for all of the Football World Cups to date.

The Brazilian soccer team is known all over the world for their brilliant players. Everyone in Brazil, from small villages to large cities, is known to go crazy for their country during the World Cup. Brazilian are known for the pride they feel for their country during sporting events. Brazil holds the most wins for the World Cup with five wins, known to Brazilian as the “Pentane”. The most dollied Brazilian soccer players AR Cafe, Aid, Ronald, and Reinhold. Sports such as sailing and golf are considered to be for the high class and are not accessible to the general public.

Brazilian also enjoy footloose, basketball, tennis s, auto racing, and volleyball ( http://www. Ambassadors. Com/Brazil/sports/ Women’s football has gathered an increasing share of interest in Brazil. The country’s string of successes in volleyball since the midnight century have made it Brazier’s second most 6 popular sport. Municipal governments often provide volleyball courts and other recreational equipment for the country’s beaches, including ROI De Jeaneries famous Copernican and Panama. Brazier’s beaches are gathering places for young people, the more athletic of which play football and various racket games.

Brazilian championship as of beach football and volleyball draw thousands of spectators and television. Brazil has competed in every Olympic Games since 1920, except the 1928 Summer Games in Amsterdam. It has been successful in many events, including trafficked, swimming, yachting, and such team sports as football, volleyball, and basketball. In 2009 the International Olympic Committee selected ROI De Jeanine as the site of the 2016 Summer Games. It was the first city in South America to be chosen to host the Olympics. Http://www. Britannica. Com/Upchucked/topic/78101 ‘Brazil/2511 5/Experimentations II.

Background on Underarm (Mary Kate) Under Armor, a relatively new company was established in 1998 by a former University of Maryland football player, Kevin Plank, who was sick of repeatedly changing his sweat soaked Theists during football camp and took it upon himself to invent a new type of This that would keep athletes cool, dry and light by repelling moisture. Under Armor has come a long way from young Kevin Plank selling Theists long the east coast out of his grandma’s basement-?on November 18, 2005 Under Armor went public and became the first US based initial public offering to double on the first day in five years.

Over the years the company began to expand its product line to providing clothing for different weather temperaments, creating equipment for vary souse 7 sports fields, as well as developing lines for women and children. They have expanded d from the clothing collegiate sports team and now sponsor numerous professional sop arts teams and world class athletes which include Olympian, national champions, etc. They eve expanded in a global scale to Europe, China, Canada, Japan, parts of Latin America and are known as a global leader in performance footwear, apparel, and accessories.

Today, Under Armor has revenues approaching $2 billion dollars and continues to maintain its mission to “make all athletes better through passion, design , and the relentless pursuit for innovation by creating exchanging products that provide an advantage for athletes. ” Under Armor takes its corporate responsibility very seriously. As outlined on its companies website, CIA operates under the core values with which the company was established: innovation, inspiration, reliability, and integrity.

They only seek to do business with third parties that operate under these values as well. Under Armor’s products are made by thirdly manufacturers; consequently, they hold these third parties to the high standards in which they hold themselves. CIA will not do business with any companies that use any form of forced labor, child labor, or harassment/ abuse on their employees. The AU suppliers and subcontractors must provide their employ with a safe and healthy working environment and comply with all laws and regulation

AU must provide employees with at least legally mandated minimum wage and been fits. The employees of AU and its suppliers or subcontractors are not forced to work more than 48 hours with 12 hours overtime and countries that have no limit on hours work De must provide one day off out of every seven days of work. AU complies with all 8 environmental regulations, rules, and standards as well as making all subcontractors and contractors comply with all local, state, federal, national, and international laws, rules, and regulations in the company of manufacture.

The suppliers and subcontract ours are regularly monitored by CIA internal employees and third party contractors. As well as taking corporate responsibility seriously, CIA prides itself on its community involvement. They created CIA Giveback which partners with programs the at are dedicated to finding a cure for breast cancer, environmental sustainability, supporting military and law enforcement, and empowering youth athletes. From a marketing perspective, Under Armor target athletes of all ages as well as fans as they have entered into the collegiate and professional sports apparel mark et.

Internationally, this is an asset to the company as well as having lines of clothing for ages and genders. CIA has unique temperature specific clothing that can cater to the specific temperaments as they expand on a global level. However, it appears as if Under Armor is heavily rooted in its football background in America which leaves or to question the company’s success on an international level as it tries to break free of its American football image in countries where the sport is nearly nonexistent.

The vice president of sports marketing at AU tackles this questions by saying “As a brand, we aka sure we secure the right assets in different regions of the world to make sure w tell our performance story. In the U. S. , we do it through American football, in the U. K. Through Atonement Hotshot. In Chile, we’ve Just signed football side Cool Cool, and in Japan we’ve done it through basketball. We know the brand translates when we do it correctly: the storytelling is the same across the regions, we Just have to make sure w 9 have the right people telling it” http://www. Probabilistically. Com/Global/losses/2013/07/10/Nonrepresentational ship/Underarm. Asps ). CIA really strives on a marketing level because the company delivers. The brand has even been seen on athletes that are sponsored by other companies, which proves the brand’s performance is superior. CIA strives to become a global success as it competes with other sports apparel brands such as NIKKEI and AIDS. Aqua’s share of the U. S. Athletic shoe market rose to almost 2% from 1. 3% a year earlier. It’s apparel share grew to 13. 65% of U.

S. Market from 11. 07%. CIA strives to compete on a global level and is trying to focus heavily on soccer as it is the dominant global sport. Http://www. Marketplace. Mom/story/underarmoursetsglobalambitions20130419 ) Corporate responsibility: http://investor. Underarm. Com/company/corruptibility’s. CFML a. Under Armor Strengths b. “” Weaknesses c. “” Opportunities Maria Tropical SOOT analysis d “” . Threats Market Segmentation for Under Armor Under Armor used two segmentation strategies in order to gain power in the market.

In the beginning stages they practiced the niche marketing strategy which means that they “avoided the large market and focused on leading in the small mark et” 10 (studded. Com 3). For example, Under Armor concentrated on promoting apparel hat repels perspiration rather than compete with Nikkei, Rebook, Aids, and Converse which all promoted athletic footwear as their main product. Because of Under Armor or’s success in specialized sportswear in niche markets the company “exploded” and their sportswear became a fashion statement and not only a garment only worn by athlete s.

Under Armor also practices the Flank Attack strategy as a “market challenger. ” The Flank Attack strategy requires that the “purpose of marketing is to discover needs and satisfy them and to serve the market’s uncovered needs” (studded. Com 3) . For example, CEO Kevin Flank introduced crisscrossing footwear because he discovered that customers wanted this product. This strategy also involves listening to the customers’ feedback rather than practicing Nine’s philosophy of telling the customer “what’s best for them. Under Armor continues to utilize the Flank Attack strategy because it creates exponential growth for the company as well as distinguishing Undo re Armor from its competitors, such as Nikkei. An online article written by Andrew Williams and dated November 2010 addresses demographic segmentation and cryptographic segmentation as two racketing strategies that can be applied to Under Armor in Brazil. In reference to demographic segmentation, Williams offers that this strategy has changed from only offering Under Armor products to male athletes.

CIA now has expanded product line s towards the needs and wants of female customers, male customers, and youth. In addition, the growth in the middle class has created more fashion conscious consumers in Brazil. Therefore, Under Armor should target women and girls in the Brazilian 11 market by featuring Under Armor garments worn by famous actresses and celebrities n order to stimulate sales in this segment, as well as creating excitement and brand loyalty. The company should also focus on sex appeal and more fashionable aspects athletic wear in order to appeal to these segments.

This strategy could be even more successful by developing specific clothing lines that cater to women and girls by offer ins more colorful women’s wear, yoga shorts, spandex, form fitted tees, tanks, etc. To embrace their vibrant culture. Obviously, Under Armor will generate more sales if the eye direct their marketing efforts to more market segments which would include women, en, and youth rather than Just males between the ages of 17 and 23. In reference to cryptographic segmentation, Williams reports that “the main focus of [Under Armor] is in the consumer’s lifestyles” ( www. Demoded. Com 3) and that the company should direct its efforts to consumers with active lifestyles. In other words, because most Brazilian desire to be fit and healthy, Under Armor Brazil woo old be an excellent opportunity for the company to expand its consumer base. Http://www. studded. Com/essays/UnderArmourMarketingStrategy927131. HTML http://www. studded. Com/essays/UnderArmourMarketing180200. HTML? Topic Ill. Advertising Strategy Many challenges will be met when trying to implement a brand into a new foreign market.

The key to success is for Under Armor to be aware of these challenges and be prepared with solutions for them. Brazil is a different market than the United States a Under Armor must make changes to meet these differences. There will need to be 12 solutions for language barriers, as natives of Brazil speak mainly Portuguese. Cultural differences will need to be acknowledged, such as the city of SAA Paulo’s ban on outdoor advertising, and adjustments will need to be made. Under Armor should of cuss advertising strategies on sponsoring teams, athletes, celebrity endorsement, social media, fitness clubs, and customer service.

In order to succeed in Brazil, Under Armor will first need to handle the language and cultural barrier. An international manager with experience in Brazil should be hi red to help the company make a smooth transition. Charlie Amaranth would be an ideal candidate for this position, as he previously helped build Disdain’s infrastructure in La tin America. Http://articles. Baltimorean. Com/201306051b us nines/bsbzunderarmourinvestorday 0130605_1 _armourceokevinplanksportsapparelcompanykipfulks ).

Amaranth’s prior experience with a similar company would provide helpful insight for AU and woo old be a smart addition to the company. He could help to set up two flagship stores in the largest cities; one in SAA Paulo and one in ROI De Jeanine. Another way for AU to Bette understand Brazilian culture would be to open manufacturing and distribution bases in Brazil. Olga Martinez Garcia, Diagnosed marketing and innovation director for Latin America, explains that “Brassiness’ is not Just important to marketing messages, but business strategy… Is essential to absorb Brazilian staff into your outfit,” ( http://www. Marketing’s. Co. UK/probabilistically/3033886. Article ). Opening such centers would further incorporate the Brazilian culture into the brand and would additionally help avoid the country’s astonishing import tax. 13 Brazil is a perfect market opportunity for Under Armor to enter into with the upcoming FIFE World Cup games and Olympics. For example, AU competitor Nikkei implemented a similar entry during the 2010 World Cup games and experienced rewarding results. Nine’s CEO Mark Parker reported that sales grew 39% before the

World Cup began. ” Forequarter soccer sales within the emerging markets category increased 60 percent, thanks largely to the company’s World Cup marketing efforts” ( http://www. Obviousness. Com/Portland/stories/2010/07/05/story. HTML? Page-?all ). Nikkei has focused on creating relationships with the Brazilian national team, which has put the m as an advantage to competitors like Aids, according to obviousness. Com. Under Armor should adopt similar efforts by sponsoring both amateur and professional football teams to gain the popularity of the Brazilian, as Nikkei has done.

Team Jerseys old be created that the general public could purchase that exemplifies the excellence quality CIA products offer because famous athletes influence what brands Brazilian buy and wear. Rafael Voiceless, a native of Formulate, Brazil, confirmed this ideal by saying in an interview about Under Armor’s potential in Brazil by saying, ” If Brazilian saw a lot of influential and famous people wearing it, people would interest Ted in buying those clothes. Everybody wants to have Aids pants because girls in movie s wear it, or Nikkei sneakers because tennis players are wearing it too,”.

Free Sample: International marketing paper example for writing essay

International marketing - Essay Example

Which of the following statements is true about the World Trade Organization: it is he successor to the MIFF it is the successor to GATE it is the successor to NONFAT it is the successor to the EX. 3. The form of economic cooperation that calls for 1) eliminating internal barriers to trade and 2) establishing common external barriers is known as a(n) economic union free trade area common market customs union 4. A new bilateral agreement between the European Union and Turkey will eliminate internal trade barriers and establish common external tariffs.

This arrangement is a(n): 5. The United States, Canada, and Mexico participate in a form of economic cooperation own as a(n): free trade area 6. Which of the following countries ranks number 1 in terms of two-way trade with the United States: Japan Mexico Germany China Canada 7. Numerous would best be described as a(n): free trade area that’s evolving into a customs union customs union that’s evolving into a common market common market that’s evolving into an economic union 8.

The proper name of the economic cooperation group that consists exclusively of Asian countries is: East Asian Trading Group Japan Inc. The Asian Economic Cooperation Association of Southeast Asian Nations Asia-Pacific Economic Cooperation MAKE 680-01, spring 2006, Exam I Review Questions 9. Page 1 of 12 To date, actual economic integration among SEAN countries has been limited. However, the member nations hope to create a(n) 10. Early in the 21st century: The Masochist Treaty called for: the creation of an Asia Free Trade Area (AFT) the creation of a monetary union in Europe Chile’s acceptance into Numerous increased purchases of U. S. Auto parts by Japanese manufacturers 1 1 . Which of the following is NOT a correct statement of a change that will affect how companies do business in Rupee’s single market: a. Harmonistic of product standards . Common guidelines for TV broadcasting c. Less competitive pricing environment d. Reduction in customs formalities for goods crossing borders 12.

To qualify for EX. membership, a country’s budget deficit must be: under 3 percent of GAP. Under 10 percent of GAP. Under 25 percent of GAP. Under 50 percent of GAP. Chapter 4 – Social and Cultural Environments can be defined as “the ways of living, built up by a group of human beings, that are transmitted from one generation to another. ” Religion Culture Economics Self-actualization Suppose you have a friend from India who is a lifelong vegetarian and who does not eke McDonald’s because the company sells hamburgers in many countries (although not in India).

Which of the following describes your friend: “vegetarianism” represents a value; “dislike McDonald’s” represents an attitude “vegetarianism” represents an attitude; “dislike McDonald’s” represents a value “vegetarianism” and “dislike McDonald’s” both represent attitudes “vegetarianism” and “dislike McDonald’s” both represent values A real estate developer who wanted open a factory mall in Europe had to change the wording in his proposal to “designer outlet” because officials wanted to know where the “factory” would be.

This episode shows the importance of: syntax morphology semantics phonology When the Coca-Cola Company was developing its new Disdain bottled water brand, linguists helped guide the naming process. For example, the recurring “a” was chosen because it has a soothing sound. In linguistics, issues pertaining to letters and sounds are a matter of: syntax When Canon was developing a brand name for its tiny Aleph camera, the distinctive pH spelling was intended to draw a connection between the cameras and the word photography while the name itself was intended to evoke the image of a tiny pixie- like creature.

These considerations are associated which aspects of linguistics: phonology and semantics syntax and semantics Page 2 of 12 semantics and morphology morphology and syntax During a presentation in Latin America, a U. S. Salesperson was covering material in an orderly, “Point One, Point Two” fashion. The potential client’s responses seemed to go in loops and spirals rather than in a linear fashion. What aspect of verbal communication is at issue here: phasing sequencing is a phrase used to describe a country or regional culture where a business deal depends more on person’s word than on formal paperwork or a legally-binding contract.

Low-context High-context Cultural universal Self-reference criterion U. S. Corp.. Established a Joint venture with Rustproof, a Russian aerospace concern. The U. S. Partner relied on teams of lawyers to pursue due diligence and ensure that every eventuality was covered by contracts. Rustproof managers found all this confusing, and were more interested in building personal relationships and mutual trust. Which of the following best explains the situation: U. S. Culture is high-context, Russian’s is low context the U. S. And Russia are both low-context cultures the U. S. And Russia are both high-context cultures U.

S. Culture is low-context, Russian’s is high context Which of the following is not true about the music industry in India: Local artists sing predominantly in English. American pop music accounts for only about 5% of recorded music sales. Consumption of Western pop music is mostly confined to the largest cities. Music shops in rural areas stock recordings by Western artists in order to cater to the tourist trade. Which of the following most accurately contrasts nations in terms of individualist versus collectivist cultures: The U. S. Is a collectivist culture, while Japan is an individualistic culture. The U. S. An individualist culture, while Japan is a collectivist culture. The U. S. And Japan are both individualist cultures The U. S. And Japan are both collectivist cultures 1 1 . According to recent research on the relevance of Hypotheses social values framework to global marketing, consumers in countries ranking high on the individualism dimension respond well to: a. Functional brand images b. Social brand images c. None of the above d. All of the above e. Sensory brand images 12. According to diffusion theory, which of the following is the first step in the adoption process: adoption trial awareness interest evaluation 3.

A few years ago, Philips Electronics developed a new consumer electronics product called the Digital Compact Cassette player. DOC did more than allow users to record and playback in a new digital format; DOC was also designed to play the older, analog cassette tapes that many people own. However, die-hard audio buffs were the only ones to buy DOC and Philips ultimately discontinued the product. Which of the following statements based on adopter categories describes this: a. Early adopters bought, but innovators didn’t b. Innovators bought, but early adopters didn’t c. Innovators bought, and everyone else was a laggard . Early majority bought, but late majority didn’t e. DOC was a laggard MAKE 680-01, spring 2006, Exam I Review Questions page 3 of 12 14. An entrepreneur who opened a Western-style coffee bar in Hong Kong generated additional traffic by selling tea; regular threatening patrons eventually “moved up” to coffee. Which characteristic of innovations was the entrepreneur using: a. Compatibility b. Relative advantage c. Communicability d. Complexity e. Divisibility 15. Which of the following is true about the innovation diffusion process in Asia: Japan has a high-context culture with a relatively homogeneous population.

Because risk avoidance is a cultural value, there are fewer innovators in Asia than in the United States. Once innovators in Asia have tried a product, early adopters and the early majority quickly follow suit. After a new product has achieved success in one Asian market, it is likely to be adopted in other Asian markets at an even faster rate. All of the above are true Chapter 5 – Legal and Regulatory Environments The trend towards prevarication in many parts of the world is a reflection of changes in which environment: social and cultural economic and political scientific and technological physical and natural

By definition, is the potential for a change in a country’s political environment or government policy that could adversely affect a global company’s operations. Political culture political risk nationalization sovereignty jurisdiction Which of the following is NOT an institution for arbitrating trade disputes: American Arbitration Association UN Conference on International Trade Law International Chamber of Commerce European Court of Justice International Court of Justice In West Africa, Burning Fast, the Ivory Coast and Senegal are former French colonies, while Nigeria, Sierra Leone, and Ghana are former British colonies.

Based on this information, which of the following would be correct: Burning Fast, the Ivory Coast and Senegal are civil-code countries, while Nigeria, Sierra Leone, and Ghana are common law countries. Burning Fast, the Ivory Coast and Senegal are common law countries, while Nigeria, Sierra Leone, and Ghana are civil-code countries. All the West African nations mentioned above are likely to be civil-code countries. All the West African nations mentioned above are likely to be common law countries.

Which of the following statements about civil-code law is incorrect: code law’s origins can be traced back to Rome sot countries have legal systems based on civil-code traditions past legal rulings are the basis of civil-code law Central European countries are developing “pure” legal systems based on code law In many parts of the world, sales of unauthorized videos of Hollywood movies cost the movie studios billions of dollars.

Free Sample: International Marketing paper example for writing essay

International Marketing - Essay Example

The author will be analyzing the product proposition using a SOOT analysis frame work on HASH Premier. Based on the result of the analysis the author will highlight as to why HASH has chosen to cater the high end society. The report also showcase as to why the UP is focused on this particular market segment. Followed by the author conducting a study on the requirements and expectations of Premier Customer (PC).

Based on the identified factors the author will illustrate how the UP has being designed to address the client’s requirements by using the concept of relationship banking through their peccadillo employees. The report will also emphasis on the importance of HASH being customer centric. Supported through changes done to the marketing mix in order to achieve the goal of customer care. In conclusion the author has conducted a research to track the total customer experience.

Introduction HASH is a leading multi-national organization which has been operating in the financial industry in Sir Lankan for over 120 years (Refer Appendix A. L). Being an organization which has both local and international expertise, HASH has a competitive advantage in positioning their products and services in the market. HASH caters both corporate and Retail Banking segments with a wide range of product propositions. As the newly appointed marketing consultant for HASH Premier (Refer Appendix A. 3), the author will be conducting a market research to find out the factors as to how HASH UP can be improved.

During the market study the author will be conducting a research on areas like working business culture and marketing concept, segmentation of the product in line with its customers, analyzing the customer’s needs wants and value expectations of the proposition, creation of customer-based value propositions for each of the segments, developments through relationship marketing and customer care, the organizations branding strategies, research studies related to customer experience and the outcome of been an organization which is more customer centric.

The working business culture and marketing concept Considering the business culture, HASH is an organization exposed to many international trends and working environments. From retaining years of experiences in the financial industry HASH has identified how the organization should adopt itself according to the local culture and trends. In order to localize the organization has invested in the areas such as product development, pricing, branding, market research and relationship marketing. Which eventually covers the marketing concepts of HASH.

These concepts are used by the top level management as strategic concepts in order to make decisions and processes to cater to customer requirements and expectations. Through these concepts HASH has being able to align the Premier Proposition (UP) according to the current market conditions. Product development and Pricing In order to sustain their market share HASH UP is been reviewed and developed annually by the marketing department. Product development has being focused based on the following market conditions.

The emergence of local and international competition: In the recent past there have being many number of financial institutes starting to introduce similar product propositions as HASH Premier. Egg: Nations Trust Bank : Private Banking Standard Chartered Bank: Priority Banking Fragmented markets and sophisticated customer needs, wants and demands: The emergence of sophisticated customers such as investors, directors of multinational companies, businessmen who each have diverse needs wants and demand expectations from the bank.

Technological advances in the financial sector: HASH has being successfully been able to achieve this by offering the best consumer internet. The organization has being offered the award by Global Finance. HASH uses a price premium strategy in the UP which has made the product to be exclusive and appealing to the high end society of Sir Lankan. By using this strategy HASH has been able to acquire over 6000 Premier Customers (PC’s) who each maintain over RSI 7,500,000 in a portfolio. This in return has given them to generate RSI 45 Billion in deposits. Branding Every product requires a strong branding technique.

HASH uses the following branding methods to showcase the benefits of UP. Online marketing Billboards Electronic Direct Mails New paper and magazine advertising Corporate sponsorships Consumer sales promotions As per the methods mentioned above HASH has focus in showcasing the lifestyle of a PC and the benefits that could be achieved by being part of the growing UP. The next goal by branding would be to acquire potential customers through displaying benefits compared to the competitors. Market Research and Relationship Marketing HASH invests a large proportion of resources on market research and development.

Which eventually result HASH a cutting edge among competitors. This market research and development is conducted through HASH head office in Hong Kong at regular intervals. By doing so HASH has being able to identify new global trends and investment opportunities which they have being able to include within the UP. In order to customize and align the global trends and investments according to the Sir Lankan market, the local marketing department conduct research. These researches are conducted through client survey calls, mystery shopper programs and customer feedback forms.

This has provided the opportunity for the management to gain a secretive insight of the service pros and cons offered to the PC. Customer being treated as king in today’s business world HASH believes customer centric relationship marketing is the critical selling factor of the UP. In order to complement this factor Relationship Managers (Arms) have being groomed to be customer oriented, which will enable to provide a personalized service package. Based on the study carried on HASH Premier the author will explain the current position of the organization and explain the desired position to be in through his suggestions.

Understanding customers and segmentation A PC is an individual who banks at HASH for the purpose of receiving exclusive customized service, global recognition, safety of their funds and investment advice. By performing a SOOT analysis on HASH Premier the author has being able to highlight why HASH has selected the particular segment of high income earner both locally and internationally. Strengths HASH is a brand which provides their clients a global recognition through HASH Premier. Expertise in the financial industry both locally and internationally. Including modern technology into their services.

Priority services for all international banking services through Global Premier Center’s. Customizing the products and services according to the local culture. Dedicated ARMS who would manage the clients financial requirements 24 hour Premier Call Centre (PC) Emergency credit facilities. Exclusive promotions for PC’s both locally and internationally. Weaknesses Limited bank branches around Sir Lankan. Offering low interest rates on fixed deposits and savings accounts. Being an International brand the organization is vulnerable for strict government rules policies.

Having only 2 Premier Center’s in Sir Lankan to cater to over 6000 PC’s. Unavailability in developing new wealth management products for clients with high investment appetites. Having a low workforce to attend to each PC’s requests. Limiting the eligibility criteria for HASH Premier. Having only one PC to attend to over 6000 PC calls. Opportunities By growing the premier portfolio the organization will be able grow the HASH brand Value. Developing newer technological advances in line with the Central Bank of Sir Lankan would assist in making the product more attractive.

Hosts Global recognition which would attract clients. Constant R provides new dimensions to a growth. Individuals who aspire to become a PC. Global international support through the HASH group. Threats Competitor banks starting to offer similar propositions. Central Bank regulations which limits cross border transactions. Losing customers who are rate sensitive Reputation risks from miss selling HASH Premier. Vulnerability to attract money launderers who would tarnish the HASH Premier brand name. Global recession impacts on HASH High priorities given to local banks.

Table -SOOT Analysts Different PC individuals have diverse expectations from HASH. In order to meet these high client expectation levels HASH conduct thorough staff trainings, workshops and knowledge sharing sessions. Based on the product exclusivity it shows that HASH has segmented in clients who seek global recognition and quality service even though they do not offer competitive return on investments. Further the client base can also be segment according to the below listed eligibility PC criteria. 1. Clients maintaining a portfolio balance of In Sir Lankan 2.

Overseas PC’s maintaining the required balance in their home country All though this protects the products exclusivity it has limited the organization expanding their market share. In order to overcome this limitation the author suggests that HASH to introduce new entry criteria to become a PC. Market research shows competitors also offering similar products under the following entry criteria. Nations Trust Bank (Private Banking eligibility) -RSI 5 million or equivalent in foreign currency, in deposits Total relationship of RSI 10 million in both deposits and loans Repurchase Agreements (Repose’s) and/or investments of RSI 20 million.

Standard Chartered Bank (Priority banking eligibility)-Total relationship in Fixed deposits RSI, 000,000/- Commercial Bank (Elite Banking eligibility)-Total deposit relationship in excess of RSI 7. 5 Million in a savings or fixed deposit account. In order to gain the completive advantage and row the profit margins for the business sustainability the author’s suggestion is to remake entry criteria to become a PC. This will also open doors for potential customer segments and new business opportunities where competitors have still not approached on.

Authors entry criteria suggestions: Maintaining in a non-interest bearing current account and granting of an interest free overdraft facility of which would attract Islamic Banking clients. Maintaining RSI, 000,000/- in a fixed deposit and granting an overdraft facility against in which will attract clients who like to invest in the Stock market and other instruments. Offering Premier for top Directors of Companies such as MASS, Nestles, Fomenter, MIT so that they would be brand ambassadors for the Product.

Introducing Premier for clients with large credit facilities which are more than Errs, 000,000/- these clients would give a high income to grow the premier portfolio. Analyzing needs, wants, values and Expectations of Customers As indicated above a HASH PC contains diverse set of expectations and requirement through this package. This requirements and expectations vary from individual to individual. HASH has being able to identify these client expectations based on the research performed by their search and development team. Analyzing needs and wants The success of HASH UP is based on how the organization meets the customers’ expectations.

Based on the market studies performed on the client base the author has being able to identify what are the needs and wants of the clients. Needs Wants Easy access to their funds. Ability to withdraw funds at any given time. Reliability on the invested money at HASH. To have the assurance that the invested money is secured at HASH. Return on investment. Preferential interest rate for savings accounts and fixed deposits. 24 hour assistance in financial needs. EX. customer support. Commendable customer relationship. To receive a tailor made service from HASH. Ability to obtain credit facilities.

Ability to request for credit cards, loan facilities and overdraft facilities on demand. Priority services in transferring funds globally and assistance in opening accounts overseas. Global assistance. Hassle free money transfers with global accounts Table – Analyzing needs and wants Values and Expectations of a HASH Premier customer The relationship between a HASH PC and the bank is built around the values presented by the organization. In order to achieve clients expectations HASH works art along with their set values. The below list contains the relationship between the PC’s values and expectations.

Values Expectations Fairness Offering a fair Interest rate on the Fixed deposits within the bank. Honesty and integrity. To create transparency on the fees and rates of the bank. Ability to understand and address the client’s requirements. Excellent two way communication with the RMI and client for a better service. Assurance Assurance for the client’s financial safety. Service. Customized clients service package. Dependability High dependability on their personal and official financial matters. Recognition. To be recognized as a valued Premier client.

Table -Value and Expectations of a HASH Premier Customer Creating Customer-based Value Propositions for Customer segments Creating customer-based value propositions is a widely used strategy to create awareness on different customer segments. Having looked at the researchers conducted from inception of HASH Premier the author believes the most significant factor is to address PC’s expectations. Also the author believes, through catering these requirements will influence the client’s decision making ability. This will result to row the market share and generate business incomes.

Relationship Marketing & Customer Care Relationship marketing has become one of the current important concepts of today’s business environment. Relationship marketing is mainly dependent on organization policies employee skill and capabilities. Each employee plays a vital role in the process of delivering an exceptional customer service. Starting from the front level customer support to the back office support the same service level should be maintained. Factors that influence Relationship Marketing for HASH Premier: Convenience in accessing the Premier Center’s. Efficiency of the ARMS.

Strong bond between the client and the ARMS. Consistent service delivery. The luxurious Premier Centre facilities. Extensive Friendly support provided by the employees. Understanding the customer requirements. Playing honestly and winning customer trust. Assurance of investments. Management of customer care Knowledge : The employees should always maintain high knowledge level regarding customer portfolios, requirements and up to date with organizations processes. Service Level : All staff engaged directly or indirectly with clients should always provide same service standards. Operations :

Maintaining consistent operations according to the set guidelines in order avoid any service lapses. Customer Care : Providing the best customer experience through exceptional customer care. At HASH the management believes in building strong relationships between the business and its clients is vital. In order to full fill the above influences HASH has built the UP around customer relationship marketing and exceptional customer care. A PC of HASH is entitled to a RMI who caters to their every financial requirement. The ARMS are often closely engaged with their clients, this allows them to win the trust and understand the client.

It enables the ARMS to provide a better service to their clients. A satisfied customer will always improve their portfolios and recommend the product and service to others. However during the research conducted it is evident the concept of relationship banking is blossomed from the point a client becomes a PC. Although the author strongly believes regardless weather the customer is Premier or not the bank should provide customer relationship banking. HASH should extend their focus towards all segments and expand their exceptional customer relationship.

Through conducting the above mentioned new concept the organization will be able to identify the potential clients and grow them to become aspiring qualitative PC’s. Reinforcing the organization’s Identity through changes to the Marketing Mix Variables What is a Marketing Mix? A marketing mix is traditionally referred to as the ups, which consists of Product, Price, Place and Promotion. With market evolution ups has grown itself towards adding 3 more concepts like People, Process, and Physical Environment. The combination of these elements will contribute towards providing successful of the products and services.

Figure -7 Up’s Concept The Product It can be a tangible good or an intangible service. The successfulness of a product or service is based on how it is developed and how it will cater the customer needs. HASH has developed HASH Premier to cater to the high end niche market. The product offers exclusivity, recognition and a wide range of benefits to its clients. Although the UP appeals to the specific pricing category it restricts HASH in acquiring new clients. The author belief is to create a sub category under HASH Premier to grab the clients who cannot meet the HASH Premier requirement and not allowing them to eve towards other competitors.

Price The price is the amount a customer is willing to pay for the product or service. It will also determine the organizations profit or loss as a product or service is only worth for the price that the chosen segment of customers is willing to pay. The price should be competitive when compared with competitors. In the end customers would choose the service which offers the best value for their money. HASH uses a price premium strategy for the eligibility of becoming a PC. The product offers exclusivity for clients who seek global recognition and quality service. The eligibility in becoming a PC has being set at RSI, 500,000. 0. This will restrict majority of new clients in enrolling for HASH Premier. The reason being for the author to state that HASH uses a price premium strategy is because HASH historically has not offered high return on interest rates on their fixed deposits or investments, but compensates it with a superior service which retains the client from moving to competitors. However in order to grow the Premier portfolio held at HASH the author suggests that HASH increases the interest rates paid on the fixed deposits in order to retain the existing client base and also be able to attract the rate conscious clients from competitors.

Place Place is the physical location where a product or service will be offered or distributed to the customer. It should be easily accessible by the customers. HASH Premier is offered to the clients through the HASH Premier Center’s, HASH PC’s, the HASH retail branch network and also through HASH Internet Banking. Since HASH has only 2 Premier Center’s and 15 retail branches it has limited the accessibility to the public. The authors suggestion is introduce new retail branches in new locations where HASH will be able acquire new PC’s and grow their market share.

Promotion Promotion is the method used by marketers to communicate information on products or services. It includes elements such as advertising, sales campaigns and awareness programs. HASH uses the following modes to do their promotions. Branding Advertising Special Offers Electronic direct mailers Brochures Most of the promotional methods used at HASH are prepared based on the market studies performed by research teams. However at times the in accuracy of the market study and poor promotional communication methods would fail to meet the customer needs.

Based on the authors experience he advises that HASH use a two ay communication method when setting up their promotions. This will enable to get the clients feedback on the promotion as well as to answer any of the queries that the client has regarding the promotion. People People play a vital role in the service industry. They create a positive or negative impression toward the client which will eventually impact the organization. It is always important that the staffs are well groomed and motivated when they deliver their service to client. HASH Premier is built around addressing the client’s requirements through relationship banking.

Therefore it is important that HASH recruits the right people with right skills and attitude to carry out their processes. The level of support and service granted by the ARMS will determine whether the clients will retain at HASH or weather the will move to other financial institutes. Process The processes set within the organization contribute to the end result of customer satisfaction. A PC is not interested on how the set systems work at HASH, but what they are interested is only to get their Job done. It is important that HASH evolves their system up to date with high efficiency and productivity.

This will lead toward satisfied customers. This is the ultimate goal of HASH Premier. Physical Evidence The physical evidence is what a Premier client would experience from the moment they step in to a Premier Centre. During the stay at the Premier centre the customers would experience luxurious facilities. These comforts and benefits will capture potential customers through branding and through word mouth. The combination of each of the above elements will contribute to the success of the HASH UP. Research Requirements for the organization to track the total customer experience

What is Marketing Research? It is a systematic module which is used to collect data for analysis and reporting purpose on a specific marketing situation faced in an organization. Companies use these research results in various situations. This helps the organization to measure the customer experience. The research results will enable the marketers to improve their products or services. Commonly organizations have their own in house R&D team and however some companies tend to conduct this market research through 3rd party specialized organizations. Importance of Marketing Research for HASH

As the time past banks have gradually evolved themselves to introduce new products and services. This has increased the competition amongst financial institutes who are striving to be the best. While each bank offers similar products and service packages. The differentiation is dependent on the services and after sales. While HASH understands the importance of marketing research they have sub contracted high level research studies for specialist such as AC Nielsen Corporation. At the inception of HASH Premier the organization used research studies from the Primary data acquired through Surveys, data collections, focus groups and interview.

Based on these research studies carried out HASH was able to develop the global proposition. For further development and changes to HASH Premier the organization carries out secondary data research studies by purchasing research studies done by specialists, collecting data of customer courtesy calls, mystery shopper programs, branch observations, suggestion boxes and testimonials left by other PC’s. Once the information is collected HASH uses it to understand the lapses that they have in terms of service, competitor interest rates, product features and benefits which affect he total customer experience.