Table of Contents |
1.0 Introduction
2.0 Product selection
2.1 The product which is to be taken to the international market
2.2 Rationalisation for the selection of the product.
3.0 International market screening
4.0 Macro environment analysis
5.0 Competitiveness
6.0 Cultural analysis
7.0 Strategy formulation
7.1 Market entry strategy
7.2 Positioning strategy
7.3 Marketing strategies
8.0 Digital market space analysis
9.0 Strategy recommendation
9.1 The most suitable offline communication process
9.2 Pull and push social media strategies
9.3 Strategies for customization
10. Conclusion
References
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Executive Summary
The objective of this report is to comprehensively evaluate the screening the Bangladesh market for Atlas school book segment (Sri Lankan brand) and recommend the marketing and communication strategies to establish the brand in new market. Bangladesh has a tolerate Muslim population which concern on their traditional and cultural values and beliefs. Therefore, Atlas need to concern on these cultural factors. There are certain cultural similarities between Sri Lanka and Bangladesh such as power distance and collectivism. However, there are also cultural differences such as masculinity between two countries.
In Bangladesh, there is a growing middle class which highly concern on education even though literacy rate of Bangladesh is still relatively low. Therefore, Atlas has lots of potential in Bangladesh to establish as value premium brand. Atlas can position as a brand which offer quality products for affordable prices. This report recommend how atlas should position itself in the market among its competitors. It is recommended that direct exporting as suitable entry strategy for the company and later company can consider oversees production with direct investment.
In Bangladesh, mass media channels such as television play prominent role. Therefore, higher potion of promotion budget should be allocated to TV commercials and press advertisements. It is recommended to allocate 15% to 25% of promotion budget to social media and digital marketing since internet penetration is still relatively low. However, social media can be effectively used to attract certain customer segments. It is recommended to use both push and pull strategies through social media. When launching the brand, push strategies need to be used more such as pay per click advertising where company can display ads, shopping ads, search engine ads, banners and social media marketing strategies similar to PPC or a cost per thousand impression. On the other hand, push strategies such as social media contents, customer reviews and search engine optimization can be used effectively. Further, while maintaining product standardization to uphold the quality of the product, some features such as cover page and designs should be customized according to culture, beliefs and values of Bangladesh.
1.0 Introduction
Atlas Axiata is Sri Lanka’s largest local stationary and school supplies company which operates more than 60 years. Atlas which is one of subsidiary of Hemas Holdings, has led learning ecosystem in Sri Lanka offering range of products including books, pens, colour products, bags, bottle and boxes, office stationaries, highlighters, markers, paper products etc. Atlas is the market leader of stationary market in Sri Lanka which covers 51% of the market. The company plans to extend its operation to Bangladesh. The objective of this report is to comprehensively evaluate the suitability of new target market. In this report, it is applied and explained the international market screening process with the influencing factors in order to Atlas Axiata to enter into the new market. Further, it is recommended to the most suitable offline communication process by applying an appropriate model of the international communication process and also it is applied 6C model to explain how social media can be a pull and push media in new international market.
2.0 Product selection
2.1 The product which is to be taken to the international market.
Atlas has wide range of product portfolio which includes both school and office stationary. School book segment is the highest revenue generator of Atlas (Hemas annual report, 2022). School book segment consists with A4 CR books, A4 CR practical books, A4 drawing books, A4 science books, A5 exercise books, A5 practical books, B5 books and notebooks.
Value proposition of school books of Atlas is that offering higher quality exercise books for the affordable price. Atlas uses modern technology and quality materials to support better writing and easy reading.
2.2 Rationalisation for the selection of the product.
School book segment is the most suitable product category to enter to new market; Bangladesh due to various reasons.
School book category is cash cow of the Atlas product portfolio. It holds 55% of market share in Sri Lanka (Hemas annual report, 2022). Therefore, Atlas considers that new market development as a growth strategy of school book segment.
School book segment has ability to gain competitive advantage in Bangladesh market since the product has the competitive dynamics to penetrate to new market. As a value premium brand, Atlas book segment has ability to cater to needs of upcoming middle class. Further, school books covers highest market share (38%) of the stationary market of Bangladesh (Sohel, 2021). Thus, it is relatively easy to access to the market.
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