Access Marketing Plan for Specific Essay
Introduction and Executive Summary Access marketing plan for specific international target market Launching a new high-tech product, the Water Logged Company in Australia has been dealing with gardening products with good reputation in domestic market. The new product called ‘Jelly House’ is a solidified log of water that is like a clear log Jelly which can be buried in the ground at the base of plants, as the ground dries out, the water log slowly breaks down liquefying as required, ensuring the plant receives the necessary water to survive.
Due to the convenience of the product, the company economies another opportunity with foreign countries. Meanwhile the ‘Jelly House’ could be welcomed for people who live in a big city without garden. From February to August 2013, we are aiming to sell 50,000 sets of ‘Jelly House’ into Seoul for the first promotion in Korea. It is a clear selling point that busy city life causes large stress on people therefore they want natural items around them like pets, plant pots, flower bases. From the previous research we could verify more women prefer plant pots than man but there has been no following-up result so far.
Before the Company goes to international arrest,
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With the big concern on natural environment the company has been developed group of products which could help plants/trees to survive under any weather conditions. 1. 2 About our company the Water Logged’ Water Logged recently made the decisive decision to find a larger market abroad as new product came out and domestic market has been saturated with similar products. The company has been invested in innovative products which could appeal individual customers than professional in industry. Water Logged has 6 main branches in Australia with 1 head office in Sydney where main invest and research work has done.
The main manufacture factories are in rural area in Sydney and China. Therefore targeting East Asia to promote the product could save some budget to transport our products as the geographical location, the Seoul. Step 2 – Select appropriate marketing activities Access Marketing Plan for Specific International Target market By dissatisfaction market, undertake the following tasks. Be sure to seek clarification about the marketing plan prior to commencing the following activities. (1. 2) In the first section of your report, undertake the following: 2. Summaries the following: 2. 1. 1 with confidence of the product, the company is going to appeal to countries which either celebrate the Arbor day or have population of planting, gardening or potential development in terms of individual needs. As for the authorities ; donating a few type of product over the Arbor week to promote planting As for the special group; Contacting local landscape union to distribute sample product As for individual customer; Contacting ‘exhibition trade’ to install exhibition corner.
Besides the company’s rapid growth which is increasing its market share within domestic market, with sales and exports going up, we are able to challenge to the ewe markets. With the excellent outcome, the Jelly House, we are capable to succeed in the world market. However, the research, planning and some other requirements must be precisely followed to achieve our goals. As the results, the research tells the sponsorship and participation to the relevant event are the best way to open/enter the new market.
Arbor Day (from the Latin arbor, meaning tree) is a holiday in which individuals and groups are encouraged to plant and care for trees. It originated in Nebraska City, Nebraska, United States by J. Sterling Morton. The first Arbor Day was led on April 10, 1872 and an estimated one million trees were planted that day. Many countries now observe a similar holiday. Though usually observed in the spring, the date varies, depending inclination and suitable planting season. Arbor Day was a public holiday in South Korea on April 5 until 2005. The day is still celebrated, though.
On nonlinear years, the day coincides with Hansen. s. 1. 2. 1. 2 The specific international marketing goals and objectives ; Considering the level of the Korea and the concern on the health environment of people in big cities, the objective of the company will be selling 50,000 (Approve. 500,000) sets of ‘Jelly House’ into Seoul(the capital city in Korea) in the first year. We will target people who would live in apartment with busy working life; we will promote the strength of the product which provides ‘consistent water supply for plant when it is dry season or any reason couldn’t do watering.
Moreover, promoting the company image as a high-tech leader in sustainable environmental business is a key to open the new market. From Wisped, the free encyclopedia ; A megabits with a population of over 10 million, Seoul is the largest city proper in the COED developed world. The Seoul National Capital Area is the world’s second largest metropolitan area with over 25 million inhabitants. The company sees the opportunity to adventure with minimal risk in Korea. We have belief in the succeed in Korea market as the country still celebrates the Arbor day with huge population of planting, gardening and other individual needs. . 2 Identify and document a minimum of 4 of marketing activities for the target market. (1. 3) 1 . Building up Weeping to promote [acknowledge products 2. Donating sample product to local authorities/office leaders to get positive feedback which loud be used to convince future customers. 3. Providing sample products during initial promotion / trading events 4. Performing Ads on magazines, distributing printed information(Flyers, Posters, Leaflets… ) through nurseries, plant shops 5. Providing detailed information to Journalists/flogger/magazines to be published on media before spring – typical planting season.
Advantages Disadvantages Setting up web pages – Providing products’ information and – Need time to get various feed-back or detail when customer needed customer registered in the beginning. Regardless of time or lace even from – Might require another budget to other countries. Acknowledge people exist of home- Able to follow customer’s movement, page current interest, curiosity, and feedback. – Able to set up internet shop. – Forming good company image in Korea and link the company with other neighbor product markets. – Good chance to get free media announcement as the event will be broadcasted. The best way to approach to customers when the products are not familiar with them. – Big possibility to form good reputation even before entering the market. – Friendly gibbous industries could point our product when they sell their products. – Uncertainty to be invited in the event at the first attempt. – The cost for sponsoring our products will cost high in initial budget. Sponsorship Distribution of free sample through major nurseries and neighbor business – The high risk about spending budget on uncertain customer. – The success of activity largely depends on place where the activity takes place.
Participation to Trading fairs such as ‘Korea Landscape Expo and ‘Housing friend Expo, etc. – Direct way to access and build – For the success of the activity the relationships with customer in the company needs specialized staff with beginning of the business and explanation, which requires training session for those staff. – Able to meet various customer and immediate feedback as well – Difficult to measure the benefits from the trading fair. – For foreign company the host ensures all products going through without the customs formalities 2. Research relevant cultural and social requirements, environmental issues, ethical principles and relevant legislation for the target market. 0 Cultural and social requirements: – Korean tends to prefer to make sure product’s quality before using. Korean value CEO-friendly goods and company with image of taking social responsibilities as recognition of member of community. – Young Korean tends to purchase through online shopping-mall, Home-shopping Channel when they have time. – Once they satisfy with products, Korean hold large loyalty on it; keeping on purchase same product and hardly changing. Environmental Issues: – Checking with local Food and Drug Administration in terms of the chemical elements the products contain before release. – NO poisonous left- 0 Relevant Legislation – Applying for the import tariffs (generally 8%), and an approval room the relevant agency and the quarantine station. – The certificate of origin, registration the company as the foreign exporter to the Korean government – Copyrights, contractual obligations, – privacy laws for setting up web-pages. 2. 4. Analyses the range of marketing activities based on(l . 4, ARK, 3, RSI): 2. 4. 1 The cultural / social issues that need to be addressed.
Report on the cultural [social suitability of the activities. ; As for the social issues, there are huge number of people who have at least a couple of plants at home as the majority of population in big city residents in apartment which couldn’t allow people gardening or Vega-patch. So it has been common sense for people to have plant/small Vega-pots inside home/veranda. Besides Korean customers are fond of CEO friendly product therefore the company should make sure they are clean environmental products and would leave no harms behind in terms of the exposure to young children at each household. Socially the Korean customers look into the web- pages thoroughly before ordering – Building up CEO-friendly company image takes great role in Korea. It could be linked to future selling. – As Korean customers tend to ensure the products fore use it could lead the company to potential customers Participation to Trading fairs such as ‘Korea – Take time to build up constructive relationship Landscape Expo’ and ‘Housing friend Expo, etc. With similar business group. 2. 4. Legislative requirements. Report on any legislative requirements for the market. ; Generally the product needs to be proved the safety in chemical components, environmental effect after use, registration the company as the foreign exporter to the Korean government, copyrights, contractual obligations, privacy laws, an approval room the relevant agency and the quarantine station. – Registration (name of the company, the shopping mall of the products to sell, the purpose of the web-pages, etc. – Providing confidentiality for customer’s privacy and – Need to provide up-dated correct information in terms of ethical Issues – International legal documentation to prove the safety of the products. – Checking with authorities to sponsor the arbor day events – Ensuring the safety of the product in terms of percentage of chemical component – Need to prove the safety of the products. – The legal contract with a distribution agency Participation to Trading fairs such as ‘Korea – Legal documentation about the product; the usage, Landscape Expo’ and ‘Housing friend Expo, etc. Heimlich components, 2. 4. 3 The costs and viability of each activity. Report the costs for the activities. Then priorities the activities based on the costs and viability. ; As the product will be the steady product in future market the company focuses on long-term benefit rather than short term. For the first year in Korean market, we aim to improve the company image as the high-tech leader in environmental business. Cost – Approve. 30,000 for purchasing software, programming, design, and management. Long term effect.
Sponsorship Distribution of free sample through major nurseries and neighbor business – Approve. $1 50,000 for providing – Promoting good company image flyers and sample products and spreading the product name – Approve. $100,000 for providing – Positive about the long-term sample products with flyers. Viability of the product. Participation to Trading fairs – Approve. $200,000 for setting such as ‘Korea Landscape Expo’ exhibition booth and wage of staff and ‘Housing friend Expo, etc. – Positive about the future long- ERM viability of the product. . 5 From this analysis, select the 2 most appropriate marketing activities for the product/service for the specific region. 0 Sponsorship : Approve. $100,000 – Costs of sponsoring are the most expensive among other marketing activities however it is clear chance to promote the company image and awareness on the new product ‘Jelly house’ – The company will be able to build up good relationships with authorities, office leaders and media. – Collaboration with neighbor businesses through sponsoring will help company with market entering. Participation to trading fairs : Approve. 50,000 – The cost is reasonable and it could be light expenses to introduce the product directly to potential customers. – The best way to introduce the product to the market – The specially trained staff with wide knowledge about the high-tech product take huge role in terms of accessing customer in the events, to offer better usage regarding to the plants the customer has/will have. 2. 6 Document the selected marketing activities with costs and rationale.
Explain how your choice of marketing activities meets the marketing objectives, cultural, ethical Through the analysis of the marketing activities the company is able to narrow down he best chance to be succeeded in competitive market by comparing each activity and selecting the best options that will help the company to achieve our objectives, the overview of these activities can be found below. The company decides to concentrate on improving the image of the product through the activities below rather than misaligning company profit.
Sponsorship – Approve. $1 50,000 Participation to trading fairs – Approve. $200,000 Cost Objectives – It is effective to increase the awareness of – The best way to approach to customers and the new product, through the sponsor of forming good reputation/feedback even cantonal event, the arbor day, to enhance the before entering the market. CEO-friendly company image. – In the Korea, people highly value the benefits from green plants like providing oxygen and clean air. Therefore people don’t have garden would buy some plant pots on the arbor day. 54% of company expressed their satisfaction from previous exhibition. – A quarter of participators found new market through the last event. – Approve. 58,000 visitors for the previous event – The information on the event is released on the air, magazines and radio – Same show takes place in several cities. Culture Ethical/Legal – Raising chance to get certification to export – For foreign participator, the host provides from the authority. Simple custom process. – Promoting good company image and spreading the product name – Good opportunity to research the trend of market and public opinion.
Viability Step 3 Implementing international marketing activities Now that you have identified and selected appropriate marketing activities for your product for a specific region, it’s time to create an action plan for implementing international marketing activities. 3. 1 Priorities and document your chosen marketing activities. 2. 1) Sponsorship Participation to trading fairs – Researching the trading fairs where our products will be introduced. – Organizing staff member who will in charge of international marketing activities Phrase 1 .
Preparation Period authorities. – Organizing staff member who will in charge of international marketing activities Phrase 2. Planning Period – Making first contact to the authorities – Negotiation & building relationship with – Identify and clarify the need for the product – Exploring the potential desired outcomes for working together – Checking tariff problems and legal Issues – Taking successful actions; mixed marketing activities could be taken places such as using media to announce the action of the sponsorships. Holding management meetings with our partners to assess progress and targets – Check our action plan is implemented effectively, managing our staff – Listening to our partner’s feedback and guiding feedback back into the consultant system – Reflecting on the work – Identifying what worked and what could be improved in the future – Designing continuity actions Phrase 3 Implementing – Making first contact to the host – Negotiation for specific details with the host –
Ensuring the desired outcomes in terms of exposure to media – Training staff members who will introduce the products during trading fairs – Checking tariff problems – Taking successful actions; making contact with potential customers and explain the Jelly House to customer / suggest how to use with each plant. – Check our action plan is implemented effectively, managing our staff Phrase 4 Evaluating our Promotion activities – Listening to our partner’s feedback and guiding feedback back into the consultant system – Reflecting on the work – Identifying what worked and what could be improved in the future – Designing continuity actions 3. Determine and document the resources needed for implementation. (2. 1) ; Through the thorough research carried out in Korea in terms of implementation those marketing activities, we learned a few requirements to be prepared to enter the market. – Suitable events to promote our products, such as ‘Korea Landscape Expo’ and ‘Housing friend Expo, etc. – Looking for business partnership in Korea – Personnel who has high capability of compromise and reaching to the decision. – Personnel who will be in charge of supervision on setting up weeping.
Personnel either whit Korean background or familiarity with Korean culture and business manner – Brochure, flyers and advertisements on sponsorship events – To study indigenous Korean plants to match with the product’s usage – Online banner promotion which will be hung in our neighbor business like nursery, equipment shopping mall. For implementing the marketing activities. (2. 5, IRK, RSI) ; By the previous contact and research, the company decides to looking forward to partnership, however there are still a few things the company has to prepare before the contract to be made.
Contractual obligations with sponsorship companies for overseas regulatory affair; KAFKA which includes Export License, Permit, Approval and Safety and Effectiveness. – Providing the samples of the product to ERDA(Rural Development Administration; the Korean relevant authority) to export in terms of Environmental and safety Issues – The legal document and formal contract on Tariffs – Export Process; opening a letter of credit – Level requirements on the product. Chemical components and percentages, warning, translation of English – the company provides with technical knowledge and monumental information in both Korean and English to lessen language barrier) – Employment laws – this will lead the company to hire the right person for the staff introducing company products. – Checking with authorities to sponsor the Arbor Day events. – Applying for the patent right to prevent of being copied. Copyrights and IP laws – Privacy laws 3. 4 Determine and document who will be involved in the marketing activities and what roles and responsibilities they will have to ensure a successful self-managed team. (2. 2) Who Role – Overseas marketing Director Responsibility & Activity for rumination – In charge of entire marketing processes – Maintain harmony between domestic and overseas markets. Give advice to team members when they need it – Observe overseas marketing activities; following up with real-time progress – Analyses the real time trend on markets – Negotiation & building relationship with our co- operator – Check our action plan is implemented effectively, managing our staff- In charge of translation and introducing products in Korea – Performing the part of mediator between Australia and Korea – Explain the Jelly House to potential customer / suggest how to use with each plant.