MARKETING PLAN FOR SKAGEN DESIGN Essay Example | Topics and Well Written Essays - 4000 words

MARKETING PLAN FOR SKAGEN DESIGN - Essay Example Entry Modes for International Marketing 9 Export-based Entry Mode 11 Contractual Entry Modes 11 Foreign Direct Investment 12 Joint Venture as appropriate mode for Skagen Design to enter China 13 Why Joint Venture for Skagen Design? 13 Marketing Objectives of Skagen Design 14 Product Mix 16 Price mix 16 Place mix 16 Promotion Mix 17 STP strategy of Skagen Design 17 Segmentation strategy of Skagen Design 17 Targeting Strategy of Skagen Design 18 Positioning Strategy of Skagen Design 18 Conclusion 18 References 19 Introduction 3 Skagen Design: Company Overview 3 Analysis of Internal and External Environments 5 SWOT analysis 5 Strengths and Opportunities 6 Weaknesses and Threats 6 Market Choice for Skagen Design 7 China and Business opportunities 7 Entry Modes for International Marketing 9 Export-based Entry Mode 11 Contractual Entry Modes 11 Foreign Direct Investment 12 Joint Venture as appropriate mode for Skagen Design to enter China 13 Why Joint Venture for Skagen Design? 13 Marketing Objectives of Skagen Design 14 Product Mix 16 Price mix 16 Place mix 16 Promotion Mix 17 STP strategy of Skagen Design 17 Segmentation strategy of Skagen Design 17 Targeting Strategy of Skagen Design 18 Positioning Strategy of Skagen Design 18 Conclusion 18 References 19 Introduction In today’s competitive business environment, marketers are required to develop certain strategies to help them achieve sustainable competitive advantage. Out of various marketing strategies, going global is one of the most effective strategies as it not only widens the market potential but also help the firm seize more marketing opportunities. A marketer is one who designs and creates benefit or utility that deliver the want or need-satisfying power to the customers (Boone and Kurtz, 2009, p. 5). In a global marketing perspective, marketers are to identify its customers, research in to their requirements and develop products or services accordingly so as to market them globally. This piece of research paper presents an international marketing plan for Skagen Design to help the management team in deciding about the best appropriate entry mode to launch its business in China. The report presents a detailed marketing audit of Skagen Design and investigates marketing objectives an d better marketing strategies for the company in relation to its international marketing plan to China. Skagen Design: Company Overview Skagen design, started as a small business upstart in 1989 in Denmark, has now emerged to be a successful multinational company designing, making and marketing stylish Danish designed watches, sun glasses, jewels and related accessories (Zacks Equity Research, 2012). It’s co-founders Henrik and Charlotte Jorst came to USA to start their own business in 1989 by developing the idea of a business opportunity from the Danish lifestyle and philosophy and started their business by marketing well designed watches and other accessories (Skagen, 2012). This illuminates an example of how effectively a business dream can be converted to reality by exploring newer business opportunities and marketing newer ideas. As Crane (2009, p. 3) noted, a successful entrepreneur starts thinking creatively from finding a hidden marketing opportunity and develops his marketing by identifying customers’ specific requirements and by developing products accordingly. Henrik and Charlotte Jorst developed the business idea based on the marketing potential for supreme quality watches made in Danish spirit, elegant design, skillful craftsmanship, perfect technology and so on. With its mission to create a Skagen Global Community ingrained with a commitment to design impressive and unique products and to offer high valued customer services, the company has long been able to generate a positive zeal among its customers. As of very recent report, Fossil Inc is proposing to purchase Skagen Design for a total value of $236 million including 150,000 shares in Fossil Inc (Zacks Equity Research, 2012). Skagen Design ltd is manufacturing and marketing watches, sun glasses and jewels for both men and women offering its products and services through third party retailers as well as online stores. Apart from administrative offices and manufacturing plants sit uated in Nevada, it operates stores in Tokyo, Nagoya, Japan, Taiwan and markets it products to various countries such as Singapore, Malaysia,

Is Facebook Marketing Effective Research Paper Example | Topics and Well Written Essays - 2750 words

Is Facebook Marketing Effective - Research Paper Example The methodology that I have opted for this research is qualitative methodology, as I will involve the available literature for answering the question of my research that is â€Å"Is Facebook marketing effective?†. Qualitative methodology involves literature review in which, the reviewer can make use of available information to analyze his topic and find answers to questions raised in a study. Literature review is quite beneficial as the student gets a chance to collect useful information pertaining a topic of his own interest and can reuse this information for finding solution to the problems in his study. For this study, literature review is much more suitable. Internet is an attractive medium for different kinds of businesses operative in today’s world. A rapid increase can be seen in e-commerce and internet marketing activities all over the globe. People of all ages show interest in the usage of this network as they can connect with the whole world. Social networking websites can be categorised as the most likable platform for all the users of internet. Among many other social networking websites, Facebook is one. Businesses and e-businesses all over the world give significance to Facebook as a social networking site suitable for advertising purposes. A large number of internet users make use of Facebook for their routine communication with their mates and the interest of businesses and e-businesses in Facebook point towards the fact that market is aware of the importance of Facebook to reach its customers. Marketing or advertising on Facebook is quite essential in today’s scenario when the businesses can find a large number of potential customers there (Arntz, 2009). While using Facebook, we can notice a number of advertisements on the site, which advertise different categories of services and products. We can find banner ads, side bar ads, separate advertising pages, Facebook profiles of companies and so on and all these category of ma rketing comes under the category of eMarketing. According to Liptak (2009), these ads usually take the users of Facebook on their clicking the ad to the descriptive page of the advertisement showing contact description and other important data about the advertised product or service. Not only the ads take the users to the internal pages of Facebook but to other websites keeping descriptive information about company, products and services. E-commerce websites, content based websites and other websites delivering information display various banner ads and side bar ads for the promotion of products and services of companies whether they are online firms or offline firms as these are the most common categories of internet advertising. According to Ducoffe (1996), e-commerce websites can be described as websites that can be seen on internet for international customers, they are designed for broad range of customers and people can access them for the provision of services and products. Th e e-commerce websites provide the ordered or purchased products and services at the homes of consumers. Therefore, it can be said that for e-commerce websites, which are themselves based on internet processing, can make use of internet advertisements for their business promotion. Ducoffe (1996) explains that e-commerce websites have eased the process of shopping. These websites not only bring to light their marketing campaigns on their own websites but also on other websites. Content-based websites also display various categories of internet ads in the form of banner ads and side bar ads. These websites are designed for information deliverance purposes and are able to