Marketing Mix
According to Philip Kotler (2008), “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”. The controllable variables in this context refer to the 4 ‘P’s [product, price, place (distribution) and promotion].
Identifying a Strategy for Competing Globally
Globalisation is one of the most critical challenges that most companies face when looking to expand into foreign markets. CEO’s and top management are fully aware that it is becoming tougher to identify internationalisation strategies and it is even more challenging to choose which countries to do business with (Khanna, 2005). However many companies have decided to stick with the strategies that …show more content…
Their homemade Caribbean ice cream is extremely popular within the local economy in Trinidad and Tobago and also within the Caribbean. B’s acknowledged that they cannot stop other local ice cream owners and also cannot stop the competition from also going global, however, and they believe the key to being relevant and successful in the global economy is to be innovative and creative which they already are. Under those circumstances, B’s Ice Cream have to make the decision to choose a strategy for competing globally. There are four different types of strategies that can be adopted in getting into the global market and they are as …show more content…
B’s ice cream will be using exporting as there mode of entry into New Zealand.
According to Charles W. L. Hill (2016), “Exporting is the sale of products produced in one country to residents of another country”. Many companies begin their global expansion as exporters and only later switch to another mode for serving a foreign market (Charles W. L. Hill, 2016). B’s choose this form of entry due to, it will avoid the substantial costs of establishing manufacturing operations in the host countries. In addition, by manufacturing the ice cream in a centralised location and exporting it to other national markets, the firm can realise substantial sale economies from its global sales volume.
Recommendations
Based on the analysis, it is clear to see that B’s Homemade Ice Cream Ltd, is heading in the right direction with regards to the strategy that they are going to use and their mode of entry. Overall the company is striving to achieve economic success and gain 100% customer satisfaction, however, they can further look into other potential markets and move their ice creams worldwide. Furthermore, stepping into the franchising sector can also be a future
According to Philip Kotler (2008), “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”. The controllable variables in this context refer to the 4 ‘P’s [product, price, place (distribution) and promotion].
Identifying a Strategy for Competing Globally
Globalisation is one of the most critical challenges that most companies face when looking to expand into foreign markets. CEO’s and top management are fully aware that it is becoming tougher to identify internationalisation strategies and it is even more challenging to choose which countries to do business with (Khanna, 2005). However many companies have decided to stick with the strategies that …show more content…
Their homemade Caribbean ice cream is extremely popular within the local economy in Trinidad and Tobago and also within the Caribbean. B’s acknowledged that they cannot stop other local ice cream owners and also cannot stop the competition from also going global, however, and they believe the key to being relevant and successful in the global economy is to be innovative and creative which they already are. Under those circumstances, B’s Ice Cream have to make the decision to choose a strategy for competing globally. There are four different types of strategies that can be adopted in getting into the global market and they are as …show more content…
B’s ice cream will be using exporting as there mode of entry into New Zealand.
According to Charles W. L. Hill (2016), “Exporting is the sale of products produced in one country to residents of another country”. Many companies begin their global expansion as exporters and only later switch to another mode for serving a foreign market (Charles W. L. Hill, 2016). B’s choose this form of entry due to, it will avoid the substantial costs of establishing manufacturing operations in the host countries. In addition, by manufacturing the ice cream in a centralised location and exporting it to other national markets, the firm can realise substantial sale economies from its global sales volume.
Recommendations
Based on the analysis, it is clear to see that B’s Homemade Ice Cream Ltd, is heading in the right direction with regards to the strategy that they are going to use and their mode of entry. Overall the company is striving to achieve economic success and gain 100% customer satisfaction, however, they can further look into other potential markets and move their ice creams worldwide. Furthermore, stepping into the franchising sector can also be a future