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Marketing challenges when targeting developed markets: How to overcome them?

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documents in English
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presentations
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10 pages
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  1. Introduction.
  2. Presentation of the (fictional) brand.
    1. Presentation of the company.
    2. The products.
  3. Targeting developed markets.
  4. Identification & evaluation of the challenges.
  5. Recommendations about how the different challenges can be overcome.
  6. Selecting markets.
  7. Making market entry decisions.
  8. Making Marketing Mix decisions: Implementation.
  9. Launching the product & monitoring.
  10. Conclusion.
  11. Reference list.

Over the past decade, many Asian companies have established branded products in several emerging markets (consumer electronics industry or domestic appliances for example). But nowadays, the next challenge is, for emerging market companies, to establish branded products in developed countries. Indeed, we can evoke the success of ?Haier?, China's biggest appliance manufacturers, which is notably selling refrigerators under is own name in the USA. ?Haier? also opened a manufacturing plant in California which is a symbol of its success. Furthermore, brands such as the Chinese ?Lenovo? (computing industry), ?Keijan? (mobile phones), and ?SVA? (consumer electronics industry) also went global successfully. In India, ?Tata? also achieved its mark in developed countries (P. Gao, J. R. Woetzel, Y. Wu, Can Chinese brands make it abroad?, 2003 article). These success shows that selling branded products in occidental countries can be highly profitable. However, we will see that to achieve success in emerging markets' companies usually have a long way to go.

[...] As it is the first time ?YamPiro is going into developed markets, the LCD and Plasma televisions will be the only products launched for now, in order to enter the markets in a way and to better perceive its strengths and weaknesses. However, it is possible to define a target for its products. Indeed, the target for the LCD and Plasma televisions will be middle-class worker and / or price sensitive customers. The product is relatively cheap and has good quality components. [...]


[...] Recommendation about how the different challenges can be overcome We have previously identified the different challenges the company might have to take up when selling its branded televisions in the UK and USA. Below are some recommendations about how they can be overcome This marketing plan & strategy will actually help the company, step by step, to have a safe successful approach to the UK and USA markets. IV. A. Selecting markets (Step First of all, the company needs to conduct a rigorous market selection according to relevant criteria: political, economic, social and cultural characteristics, tastes, lifestyle, attitudes Indeed, it is necessary to evaluate the attractiveness of developed countries, by getting to know: - What is the market potential and attractiveness? [...]


[...] Making Marketing Mix decisions Implementation (Step After the market segmentation process, target selection and product positioning strategy comes implementation in terms of the detailed Marketing Mix. ?Marketing Mix policies have to be consistent with each product's positioning statement?. (M. J. Evans, L. Moutinho, W. F. Van Raaij, Applied consumer behaviour, p. 183). According to W. J. Keegan and M. C. Green, Global Marketing, p 4Ps, initially introduced by Jerome McCarthy, is often thought of as the complete marketing principle. Marketing Mix is only an element of marketing tactic and the tip of an iceberg the most visible part of the company in the market?. [...]

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