Global Marketing Strategy Assignment Example | Topics and Well Written Essays - 3000 words

Global Marketing Strategy - Assignment Example The second part of the study will be discussing the experience of 24/7 Stop as the primary provider of non-food commodities in the country. This part of the study will be covering the existing strategies that 24/7 Stop is engages in, such that they stay on top of the non-food retail industry. The paper will compose of the analysis of the company itself as well as the industry that it thrives in, particularly the non-food sector of the retail industry. The tools to be used in this examination include the analysis; analysis of its PEST and Porter's Diamond Model . The last part of the study will consist of a set of recommendations formulated by the researcher based on the results of the tools used in the analysis of the industry and the company. Thailand has done remarkably well since the beginning of the economic reform movement in 1978 (Wu, 1996). Between 1979 and 1995, Thailand's GDP grew at an average annual rate of 9.5 percent. Thailand's exports grew even faster and Thailand now ranks among the world's top 10 exporting economies. Moreover, Thailand's entry into the WTO will make Thailand's door even more open. Both foreign investment and foreign trade are expected to increase (Chow, 2000). Foreign firms will begin to penetrate Thailand's financial and telecommunication sectors. Trade will increase in both directions and Thai tariffs will be lowered and Thai goods will have better access to world markets open to members of the WTO. Using foreign competition to stimulate the domestic economy is a major objective in seeking to join WTO, as explicitly stated by the government Bangladesh has become a pioneer in the international garments industry as she is a major exporter of garments in the world which is very helpful in the country because it contributes not only to the country's GNP but also for a number of reasons like for example it had created a number of jobs. The country had created many new jobs of about 1.5 million, mostly for women - have been created by the country's dynamic private ready-made garment industry, which grew at double-digit rates through most of the 1990s. Despite the country's politically motivated general strikes, poor infrastructure, and weak financial system, Bangladeshi entrepreneurs have shown themselves adept at competing in the global garments marketplace. Bangladesh's exports to the U.S. surpassed $1.9 billion in 1999. Bangladesh also exports significant amounts of garments and knitwear to the EU market. The country has done less well, however, in expanding its export base-garments account for more than three-fourths of a ll exports, dwarfing the country's historic cash crop, jute, along with leather, shrimp, pharmaceuticals and ceramics (Bangladesh Garment and Exporters Association, 1997). Bangladesh' overview in their economy has made significant strides in that sector since her independence in 1971. Although the economy has improved vastly in the 1990s, Bangladesh still suffers an image crisis due to her civil war period of early 1970s. Despite major impediments to growth like the inefficiency of state-owned enterprises, a rapidly growing labor force that cannot be absorbed by agriculture, inadequate power supplies, and slow implementation of economic reforms, Prime Minister Sheikh HASINA Wajed's Awami League government has made some headway improving the climate for foreign investors and liberalizing the capital markets; for example, it has negotiated with foreign firms

Integrated Marketing Communications Plan Assignment

Integrated Marketing Communications Plan - Assignment Example Besides food, gift items are also sold by the business to the customers for their special occasions. It is essential for every business to market their products in order to boost sales. Marketing is vital for creating customer awareness and to pull the customers towards the commodity (Armstrong & Kotler 2005, pp.10). Strategies and Tactics Market Segmentation The primary target audiences of Ann’s Pantry are the families who belong to the elite class who can visit the place for recreational purposes and for celebrations such as private parties. The secondary target audience of Ann’s Pantry is the youth who belong to the upper class and those who can spend money on parties. The youth love to party and especially at places which have good scenic beauty and attractions. The main attractions of Moelfre need to be communicated to the people to increase demand. These include coastal footpath, Royal Charter and Moelfre lifeboat which the people can enjoy (Kashani, et.al. 1999, pp. 10). Characteristics The characteristics of the audience are that they belong to elite class, they live a lavish lifestyle and they like to try new things. These people love to enjoy during their spare time for which they are also willing to spend heavy amounts. The characteristics of the primary market differ from the secondary market because of the lifestyles since the youth are more fun loving, their choice of food and music and style of arranging parties differ from families. Benefits 1. A variety of foods is offered at Ann’s Pantry 2. People can also arrange parties; however, due to issues with regards to space, only thirty people can be adjusted at one time. 3. The quality of food is very good because of quality of raw materials used. 4. The three main attractions at Moelfre include coastal footpath, Royal Charter and Moelfre lifeboat. Goals and Objectives To make Ann’s Pantry successful, certain communication goals and objectives have been planned for three years. These goals are realistic which means that they are rational and they can be achieved within the time period of three years that have been defined. 1. Brand Awareness - Since Ann’s Pantry s located in a village, therefore, awareness with regards to the brand needs to be created. This is important because customers should know about it for them to visit the place (Dunbar & McDonald 2004, pp. 200). 2. Consumer Attitude - It is essential for the customers to develop positive attitude towards Ann’s Pantry and this is because this will enable them to spread good thing about it through word of mouth which will increase sales in the long-run. 3. Consumer Satisfaction - When customers visit Ann’s Pantry, it must be ensured that they are fully satisfied. A customer who is dissatisfied is more prone to spread negativity of the business which creates a negative image of the business. 4. Market Share - The aim should be to double the market share within three years, and for this, customer awareness must be improved and their level of satisfaction must be enhanced (Barker 2008, pp. 150). 5. Sales and Profit - Increasing market share by double digits will increase sales and profits too. Proposed IMC Program Promotional Tools In order to communicate the message and to involve the primary and the secondary customers, the online promotional tools which will be used by Ann’s Pantry that include the following. 1. Contest –