Posted on

International Marketing Strategies – Damro Private Limited

  • View Count. 0

$15.00

International Marketing Strategies – Damro Pvt Ltd

Word Count 3623

Category: Tags: , , ,

Description

The management of this client organization has the ambition to extend their target market. You have met with this client and briefly discussed some of the key Marketing tasks that need to be managed at this initial market entry stage. Following this brief meeting, the client has asked you to prepare a report detailing and illustrating the approaches you recommend that they should undertake in their chosen international market, in the following areas of International Marketing Management:

Task One:

Screening the foreign market is essential for long-term economic sustainability. Apply and explain the international market screening process with the influencing factors for your company’s choice of the target market to enter.

Task Two:

Recommend the most suitable offline communication process by applying an appropriate model of the international communication process.

Task Three:

Social media (e.g. Facebook or Twitter) is essentially a vehicle for carrying the messages to the target audience. Using the Dave Chaffey (2004) 6C model explain how social media can be a pull and push media in your international market.

Task Four

Explore and discuss how your firm should customise their local product to the needs of the target market and discuss the extent of standardisation and customisation.

 

Additional information

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 Rationalization for selection product

3.0 International market screening
3.1 Macro environment analysis
3.2 Competitiveness
3.3 Cultural analysis

4.0 Strategy formulation
4.1 Market entry strategy
4.2 Positioning strategy
4.3 Marketing strategies

5.0 Offline communication process

6.0 Push and pull social media strategies
6.1 Digital market space analysis
6.2 Pull and push social media strategies
6.2.1 Push strategies
6.2.2 Pull strategies

7.0 Strategies for customization

8.0 Conclusion

References
Preview

Executive Summary

Damro is the leading furniture brand of Sri Lanka which also operates in India. In this report, it is comprehensively evaluate international marketing strategies for company to successfully establish in Bangladesh. Despite the recent slowdown of the economy, Bangladesh is a highly feasible location for company to expand its regional presence.
It is recommended that direct exporting as suitable entry strategy at the beginning and then shift to the overseas production as an expansion. Competitiveness is high in Bangladeshi market, thus company need to follow hybrid strategy and value based pricing strategy to position as an unique brand in the market.
Majority of the budget should be allocated to offline communication channels such as TV commercials, print advertisements, trade shows etc. instead of that, company should follow push marketing strategies, allowing company to place banners, display advertisements, search engine ads, and shopping ads across a variety of social media platforms. As pull strategies, Damro can post creative social media contents including useful information, how to video and influence contents and engage with customers through customer reviews and community discussions. Further, both standardization and adaptation strategies can be used targeting different product categories. It is recommended to follow standardization strategies for office furniture and plastic products while applying adaptation strategies for home furniture.

1.0 Introduction
Our client, Damro Private Limited is Sri Lankan life style brand that offers furniture and electronic applicants. The company is the largest furniture manufacturer in South Aisa, which operates over 240 showrooms in Sri Lanka and India (Damro, 2023). Damro was able to acquire considerable market share in India by offering high quality products for affordable prices with outstanding customer service.
Scope of this report is mainly on furniture sector of Damro. The company currently offers diverse range of furniture including living room, dining room, bedroom furniture, office furniture and plastic products (Damro, 2023). The purpose of this report is to develop marketing plan to extend Damro’s regional presence to Bangladesh.
This report covers four key tasks. First one is that screening the targeted foreign market to evaluate long term economic sustainability. Second task focuses on recommending the most suitable offline communication process. Task three evaluates how to use pull or push social media strategies based on 6C model. Finally, it is discussed how to apply standardization or customization strategies to operate in new foreign market.
2.0 Product selection

2.1 The product which is to be taken to the international market.
Damro offers main two categories of products; furniture and electrical appliances. Among them, company has fully fledged product range in furniture category. Currently, furniture category has been successfully operated in India and has been acquired relatively higher market share than electrical appliances (Daily FT, 2021). Further, market competitiveness is much higher in Bangladesh for electrical appliances since many low cost products are imported from China and South East Asian countries. Therefore, furniture category is selected to introduce Bangladesh market.

Related products