Sample Report on Global Marketing Management

Sample Report On

GLOBAL MARKETING MANAGEMENT

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TABLE OF CONTENTS INTRODUCTION ............................................................................................................................... 3 TASK.................................................................................................................................................... 3 1) Micro and macro-environmental analysis of company ............................................................... 3 2) Appropriate global marketing objectives and analysis of the corporate and business strategies that will support the company in launching its products in India ................................................... 5 3) Appropriate market entry method in India .................................................................................. 7 4) Implementation of the planned marketing activities ................................................................... 8 CONCLUSION .................................................................................................................................... 9 REFERENCES................................................................................................................................... 10

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INTRODUCTION According to Cano, Carrillat and Jaramillo (2004), global marketing is much more than simply selling a product in international markets. Rather, it involves the whole process of producing, promoting, planning and placing a firm's product in the global market. Large businesses generally have offices in foreign countries in which they market their products. But, the expansion of internet has availed small companies also to reach the customers across world.

Lush is a public limited company and was founded in 1995. It deals in the cosmetic products only and has its headquarters in Poole, UK. Lush products often contains vegetables and fruits, synthetic ingredients, essential oils, beeswax and honey. It offers handmade beauty and bath products, hair care products, skin care products, products for face and many more (Information, 2015).

In this report, the micro and macro environment of Lush along with the strategies that can help it in launching its products in India have been analysed. Various market entry methods and marketing activities are also discussed in this report which could help company in entering the markets of India.

TASK 1) Micro and macro-environmental analysis of company SWOT Analysis of Lush: Strengths: One of the strengths of Lush is its remarkable upbringing and distinctive products; its various strategic moves and its indisputable diversity and inclusion as well. It will help company in attracting more customers in India. But, its main strength or the strongest link is the loyalty of its customers towards its unique services. Gaining their loyalty will help the organization in surviving in the market. It seeks to find out the ways of improving its services and products so as to develop these in better and innovative offerings. Its strategic management are the keys to achieve goals.

Besides this, its commitment of effective governance is also a step to achieve the standard for excellence in the corporate responsibility (Alon, Jaffe and Vianelli, 2012). In addition to this, its employees also give their complete participation in the firm and are thus, known for their Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com Assignment Prime offers top quality Marketing Assignment Help to student of colleges and university at pocket friendly price

contribution.

Weaknesses: Lush faces a cut-throat competition from other cosmetics companies like LO'Real, Revlon, etc. which are engaged in producing the products of same line and are operating successfully in India. It has nasty reactions towards similar products because it can affect the firm's profitability and sales growth. Also, it needs to enhance its line of products and service innovations for achieving the goals as customers can be attracted and retained in India only by providing innovative, better and quality products and services.

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Kindly Contact us at: help@assignmentprime.com Opportunities: It has an opportunity to expand its market in the untapped areas like India along with increasing the market share. It focuses on promoting and polishing its own unique products of cosmetics rather than imitating its competitors. It helps in providing better and innovative products to the customers so that their loyalty can be gained (Grundy, 2006).

Threats: Increasing competitors in market is the main threat for company. There are several Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com Assignment Prime offers top quality Marketing Assignment Help to student of colleges and university at pocket friendly price

competitors in the wireless communication services, thus, the said company needs to spend more on advertising and should enhance their marketing strategies for holding and adding new subscribers of India and for maintaining the level of average revenue as well (prezi.com, 2015).

PESTLE Analysis of Lush in India:

 Political and legal factors: It is well-known that the political conditions in India are quite unstable and due to this reason, the organizations face many issues while starting a business.

Besides this, the corporate tax in India is also quite high as compared to other countries and this can have a direct impact on the business operations of Lush. The cited firm has to abide with the regulations of India in terms of material that is being used for manufacturing the products and services as use of some material is strictly banned in the country.

 Economic factors: The growth rate of India is quite good as compared to other nations. If appropriate strategies are implemented by Lush, then it can easily gain huge amount of profits in proper manner (Nickerson, Hamilton and Wada, 2001). However, there are some problems which exist in terms of inflation rate and CRR which may hamper the growth and profitability of Lush in India.

 Environmental and social factors: It can be inferred that there is a problem of high unequal income distribution in India and due to this reason, in some cities, people are capable of purchasing premium products of the firm, while at other places, people are unable to do so.

Thus, the cited firm will have to segment its products accordingly. In terms of environmental factors, people can be attracted towards the firm by spending a considerable amount on CSR activities and by implying eco-friendly material as well.

 Technological factors: India has a well established market in terms of technology, so, firm can easily get the latest technologies that can help it to operate in effective manner. Also, company can effectively run its online portal in this country as the people in India love online shopping. So, it will be a very good opportunity for the firm.

Porter's five force model of Lush: 

Bargaining power of customers: The bargaining power of customers is too high in India.

Besides this, very high quality products are demanded by them. It can be inferred that the Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com

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biggest challenge that firm can face in India is that it will have to keep the prices of its products and services low for gaining the market share in India in appropriate manner (Seattlecentralnewmedia.com, 2014). Also, the organisation needs to design its supply chain in proper way. 

Bargaining power of suppliers: In India, the bargaining power of suppliers is quite low as compared to other nations because there are a lot of suppliers in the country who can supply similar products to the customers. However, there is a great unity in suppliers' market and due to this reason; firm needs to build good relations with them for acquiring raw materials at reasonable rates and in appropriate manner.



Threat of new entrants: There is a very high threat of new entrants in India because many other companies are also trying to enter in the Indian market in the same field. So, if the company wants to survive in the market, it has to establish its roots in the market as soon as possible (Mooij, 2013).



Threat of substitute products: In India, many people prefer using herbal beauty products, due to this reason the cosmetic products of the company may have to face issues in attracting the people towards the products. Thus, the said organisation will have to perform extensive marketing for creating its position in the market (Jeannet and Hennessey, 2005).



Industrial rivalry: Lush will have to face a high industrial rivalry in Indian market because there are large number of competitor in the market with a good market share. So, the company should develop such plans and strategies that could help it in facing the competition and in gaining a good market share in India.

Switching Costs: Samiee (2008) has defined switching cost as the negative cost which has to be suffered by the people when they shift from one brand to other. This cost can be measured in terms of money and also in time based and psychological factors. In India, the users will have to pay low switching costs as there are various small retailers in the market which are offering different types of cosmetic products to the customers under one roof.

2) Appropriate global marketing objectives and analysis of the corporate and business strategies that Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com Assignment Prime offers top quality Marketing Assignment Help to student of colleges and university at pocket friendly price

will support the company in launching its products in India Market objectives of Lush: In order to enter the Indian markets, it is very essential for Lush to have some good market objectives because it will help the company in positioning itself in a more favourable and appropriate manner as compared to other organisations. These objectives will help the company in providing right direction and in gaining a competitive market share in a very short span of time. For this purpose, it can have various objectives. Some of them are discussed below:

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Kindly Contact us at: help@assignmentprime.com Providing quality products and services to the customers: People in India get Highly attracted towards quality products and services at low prices. It is important for the company to analyse the needs, demands and preferences of the customers so that the products and services can be provided to them accordingly (RESTREPO, 2003). This will help them in gaining more and more customers and their loyalty as well.

Competitive pricing and quality products: India is a very quality and price conscious country and this makes it very essential for the company to have diversified and good portfolio with Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com Assignment Prime offers top quality Marketing Assignment Help to student of colleges and university at pocket friendly price

competitive price of the services and products. It helps the company in attracting all class of the people in proper manner.

Proper market structure: This is among the major objectives of the company that should be considered by the firm while entering into the markets of India. According to this strategy, inspite of having a high distributed market share, the company focuses on coming up with a simpler one where different products of the company are provided under a single roof. This will help the company in attracting more customers.

Innovation: It is one of the most essential factors that will help the company in gaining a good market share in India. The company can bring in some innovation in its products and services like through making shopping easier for the customers. They can also provide the customers with other facilities for this purpose, like, providing expert advice to women, playing area for children, opening up a beauty salon in the company premises, etc. (Terpstra, Foley and Sarathy, 2012).

Strategies for achieving the desired objectives: Supply chain: It is among the best strategies that can be used by the organisation for fulfilling the set objectives in effective manner. Lush can divide the whole supply chain among three parts, i.e., primary, secondary and tertiary sectors. It may create or develop the products using the materials which are available in India. It will help the company in targeting those people also who do not prefer the cosmetic products made from chemicals.

Market Analysis: Conducting market analysis is very essential for the company in order to analyse various threats and opportunities and its position in the market as well. The market analysis can be done easily and effectively with the help of a perpetual model as it will facilitate the firm in displaying its position in relation to its competitors (Zou and Cavusgil, 2002).

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Illustration 1: Perceptual Map of Lush

Core competencies: It is essential for the company to rely on its core competencies as it can help it in entering the Indian market in effective way. Lush can rely on the localisation of the products and services as per the demands and needs of the people in proper manner. The firm need to identify the demands and needs of the people and should market its services and products accordingly.

Marketing Mix: It is among the best strategies that should be adopted by the company.

Keeping the prices of the products and services competitive will help the company in selecting the products from the vast portfolio and then marketing those products in appropriate way. For promoting the products in India, above the line and below the line, both techniques can be used. The cited firm can sell its products in its exclusive products and on online portal as well.

Adaptation and standardisation: It is among the most essential concepts that need to be followed by the company as it can help it in understanding the various demands and needs of the customers (Lazer and Shaw, 2000). After this, it helps in producing and marketing its products accordingly to make sure that more and more people gets attracted towards it. It comes under the adaptation strategy as the needs of people vary in different countries. Besides this, the Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com Assignment Prime offers top quality Marketing Assignment Help to student of colleges and university at pocket friendly price

standardisation strategy can be followed by the company for some products because it can help them in maintaining quality of the products throughout their portfolio.

3) Appropriate market entry method in India It is very essential for the company to adopt the most sound and suitable strategies for entering into the Indian markets for positioning itself in effective manner. Adopting good methods of market entry may further help the company in attaining its objectives as well as in gaining new opportunities (Hewett and Bearden, 2001). There are various types of methods available for this purpose like franchising, joint ventures, licensing, outsourcing, alliances and others that can be easily and appropriately adopted by the company. All these methods possess some strengths and some weaknesses as well. Thus, the company need to select an appropriate method that can help it in getting the most effective results out of it.

Among all these methods, the most suitable method for the cited company is licensing as this will help the firm in gaining licence for operating in the Indian markets. Recently 100% FDI has been approved by India regarding the single brand and due to this reason, this is the most suitable option for Lush. It has also been analysed that the Indian economy is growing at a very high rate and this will provide various opportunities to the company in terms of increasing profitability and market share (Flint, 2004). However, along with the advantages, there are also some barriers that can affect the firm in terms of adopting the strategy because it is quite difficult to get licence in India for the purpose of business operation due to the politics and high amount of corruption. Still, this strategy is the most appropriate for Lush for entering into the Indian markets.

For adopting this method of entering into the market, it is essential for the firm to develop effective marketing tactics in respect of targeting, positioning and segmentation in order to attract the consumers effectively. This will also help the company to focus on the major areas, i.e., psychographic and demographic. According to the geographic segmentation, the firm can establish its stores in some metro cities of India such as Delhi, Kolkata and Mumbai because these cities can provide a good platform to Lush to enter into the market of India. As per the psycho-graphic segmentation the firm can target such people who are beauty and standard conscious and prefer to try various products.

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In regard to targeting, it is essential for the organisation to adopt the differentiated targeting strategy because it deals in various types of products and all of them belong to various segments.

The company need to target these segments with various strategies to make sure that the people are attracted towards its products and services in appropriate manner.

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Kindly Contact us at: help@assignmentprime.com Agarwal and Ramaswami (2000) inferred that as far as positioning is concerned, it has been determined that it is essential for the company to develop itself as such a brand which offers high quality products and services to the customers at a low price. The firm can make its services and products better and more attractive as compared to other retail outlets in India by offering better and unique facilities to the customers such as beauty salon, play area for children, etc.

In addition to this, the cited organisation can also adopt the generic strategies for entering into the markets of India, like it can adopt a cost leadership policy in which the firm can sell high quality products to the customers at low prices (Burgel and Murray, 2000). Other than these strategies, differentiation in services is another option that can be adopted by the Lush.

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4) Implementation of the planned marketing activities Timeline for implementing the plan for the marketing activities of Lush such that it can effectively achieve the desired outcomes.

MARKETING ACTIVITY

TIME-LINE

Determining the objectives of the company

3 days

Developing appropriate criteria for segmentation

1 day

Plan for attracting the targeted audience

5 days

Formulation of appropriate tactics to enter the

4 days

market Initiation of the Execution phase

15 days

Attaining proper reviews

7 days

Monitoring the outcomes

4 days

According to the time-line mentioned above, it can be inferred that Lush will require atleast 39 days to implement the whole plan in order to enter the Indian market in appropriate manner. In addition to this, the prime focus of the company will be on the execution phase because it is consuming the highest time in the whole plan. Besides this, the firm can also hire a marketing firm that can conduct all these marketing activities in proper manner. Some of the main marketing platforms which can be adopted by Lush in India are hoardings, newspapers, etc. as it will help the firm in reaching to and attracting large number of people (Hill, 2008). Besides this, the scope of internet marketing and social media is also increasing in India. So, it can also prove as a good platform for the organisation for reaching numerous people in a limited time period. All these strategies of internet marketing will help the firm in attracting larger number of customers in a short time period and will help it in building good relations with the people as well. Also, it will aid the company in attracting various sets of consumers which will further assist the company in increasing the market efficiencies. Thus, it can be concluded that Lush can easily implement these marketing techniques in the Indian markets as it will allow the company to attain good profit margin and to boost their market share as well (Weber, 2010).

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CONCLUSION It can be concluded from this report that Lush can easily enter the cosmetic and beauty market of India. There are various set of strategies that can be implemented by the company for attracting people and for boosting its profit margin in appropriate way. These strategies will also help the company in facing the competition in Indian market and will allow it to establish its roots in the market in the most appropriate manner.

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REFERENCES Books and Journals Agarwal, S. and Ramaswami, S. N., 2000. Choice of foreign market entry mode: Impact of ownership, location and internalization factors. Journal of International business studies. pp.1-27.

Alon, I., Jaffe, E. and Vianelli, D., 2012. Global Marketing: Contemporary Theory, Practice, and Cases. McGraw-Hill Higher Education.

Burgel, O. and Murray, G. C., 2000. The international market entry choices of start-up companies in high-technology industries. Journal of International Marketing. 8(2). pp.33-62.

Cano, C. R., Carrillat, F. A. and Jaramillo, F., 2004. A meta-analysis of the relationship between market orientation and business performance: evidence from five continents. International Journal of research in Marketing. 21(2). pp.179-200.

Flint, D. J., 2004. Strategic marketing in global supply chains: Four challenges. Industrial Marketing Management. 33(1). pp.45-50.

Grundy, T., 2006. Rethinking and reinventing Michael Porter's five forces model. Strategic Change.

15(5). pp.213-229 Hewett, K. and Bearden, W. O., 2001. Dependence, trust, and relational behavior on the part of foreign subsidiary marketing operations: Implications for managing global marketing operations. Journal of marketing. 65(4). pp.51-66.

Hill, C., 2008. International business: Competing in the global market place. Strategic Direction.

24(9).

Jeannet, J. P. and Hennessey, H. D., 2005. Global marketing strategies. Dreamtech Press.

Lazer, W. and Shaw, E. H., 2000. Global marketing management: At the dawn of the new millennium. Journal of International Marketing. 8(1). pp.65-77.

Mooij, D. M., 2013. Global marketing and advertising: Understanding cultural paradoxes. Sage Publications.

Nickerson, J. A., Hamilton, B. H. and Wada, T., 2001. Market position, resource profile, and governance: Linking Porter and Williamson in the context of international courier and small package services in Japan. Strategic Management Journal. 22(3). pp.251-273.

Samiee, S., 2008. Global marketing effectiveness via alliances and electronic commerce in business-to-business markets. Industrial Marketing Management. 37(1). pp.3-8.

Toll Free No. +61 879-057-034 Mail Us: help@assignmentprime.com Assignment Prime offers top quality Marketing Assignment Help to student of colleges and university at pocket friendly price

Terpstra, V., Foley, J. and Sarathy, R., 2012. International marketing. Naper Press.

Zou, S. and Cavusgil, S. T., 2002. The GMS: a broad conceptualization of global marketing strategy and its effect on firm performance. Journal of marketing. 66(4). pp.40-56.

Online Information, L., 2015. LUSH LTD. | Company Profile from Hooverâ&#x20AC;&#x2122;s. [Online]. Available through: <http://www.hoovers.com/company-information/cs/companyprofile.LUSH_LTD.1ad17c193bd25477.html>. [Accessed On 7th July 2015]. prezi.com, 2015. Lush - Sustaining a Global Brand. [Online]. Available through: <https://prezi.com/k_0stk9gipfn/lush-sustaining-a-global-brand/>. [Accessed On 7th July 2015].

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