Nowadays the business environment is very competitive and international marketing is one of the crucial means which can help companies to run their business on long terms, stay competitive and meet customer needs around the world. International marketing can be a reason of success or collapse if wrongly governed or handled.
This case study attempts to analyze the challenges of International marketing which might arise when a company decides to expand its business in a foreign country. The company which has been selected for this case study is a Swedish furniture manufacturer IKEA which initiates to enter the market in Belarus.
The report will have an in-depth situation analysis which aims to evaluate political, economic, social and technological factors (PEST analysis) that may influence IKEA entering the selected market. …show more content…
Further Porter’s five forces (Supplier Power, Buyer Power, Competitive Rivalry, Threat of Substitution, Threat of New Entry) analysis will be presented to help to assess the nature of a furniture industry in Belarus and the level of competitiveness for IKEA. On the basis of data obtained from analyses, a marketing strategy will be proposed which represents a marketing mix. Marketing mix is composed of four key elements of the marketing process. They are product, price, place, and promotion. Developing a strategy that is focused on these four areas will assist in building a solid strategic plan.
The report ends with conclusions and recommendations for adequate marketing strategy which could be an aid for IKEA to expand its business in the global
This case study attempts to analyze the challenges of International marketing which might arise when a company decides to expand its business in a foreign country. The company which has been selected for this case study is a Swedish furniture manufacturer IKEA which initiates to enter the market in Belarus.
The report will have an in-depth situation analysis which aims to evaluate political, economic, social and technological factors (PEST analysis) that may influence IKEA entering the selected market. …show more content…
Further Porter’s five forces (Supplier Power, Buyer Power, Competitive Rivalry, Threat of Substitution, Threat of New Entry) analysis will be presented to help to assess the nature of a furniture industry in Belarus and the level of competitiveness for IKEA. On the basis of data obtained from analyses, a marketing strategy will be proposed which represents a marketing mix. Marketing mix is composed of four key elements of the marketing process. They are product, price, place, and promotion. Developing a strategy that is focused on these four areas will assist in building a solid strategic plan.
The report ends with conclusions and recommendations for adequate marketing strategy which could be an aid for IKEA to expand its business in the global