Table of Contents1 Executive
Summery....................................................................................22
Company
Summery.....................................................................................32.1
Mission Statement of the
XIGMA..............................................................................33
Market
Choice............................................................................................33.1
Justifcation Of The Chosen
Market...........................................................................54
Situational
nalysis....................................................................................!.1
Macro
!n"ironment..................................................................................................
#.2 Micro
!n"ironment...................................................................................................
$" S#$T %ey
&in'in(s...................................................................................1)*
%ey ob+ectives of ,nternational
market.......................................................1)%.1
&orei'n Market !ntr(
Strate'(................................................................................11!
Tar(et Market Selection- .ositionin( n'
Se(mentation.............................12#.1
Se)ection................................................................................................................
12#.2
*osition...................................................................................................................
12#.3
Se'mentation.........................................................................................................
13/ Marketin(
Mix...........................................................................................140eference...................................................................................................1"ppen'ixes.................................................................................................1*A++en,i-
1. 12c/s
&rame0ork......................................................................................1%11
Executive SummeryGlobalization has led to increase the mobility of
domestic business to international level. Itinspires the domestic
businesses to expand to be able to operate their activities in the
globalmarket. Therefore, expansion of any domestic level brand to
the international market mayface critical issues and growing
challenges. owever, it is very important to keep in mind
thatinternationalization is not an easy task especially for
ma!ority of the retail businesses. " retailbusiness is definitely
re#uired to meet different preconditions that may be internal of
externalon its way to global market. In this era, many domestic
business are rapidly growing to theinternational market.
Theincreasingcompetitionamongst
existingcompaniesprovidesanopportunity for the new comers to scan
the business environment and make them able to stayahead of the
pack. The ob!ective of this report is to demonstrate and analysis
the suitable and best fitinternational market for thebrand$IG%".
Therearelot of attractivemarket places indifferent areas such as
&urope, "sia, %iddle &ast, "merica and 'atin "merica. (ut
it is noteasyto!umpfromdomestic place tointernational
platform.Inthe internationalizationprocessthecompanymust
havetomanagetheanswerwhetherit
shouldapplydomesticstrategiestointernationalmarkets)standardizationapproach*ordesignedanewstrategiesaccording
to the new individual market. (y +orter ),--.* it is very useful
for the all type oforganizations to scan and accurately study the
international business environment before theyentered. "ccording to
/otler ),-11* all profit and non profit organizations are wholly
and partiallydependent on their market environment. In 1001, 2oole,
'owe and +hilips stated a situationalanalysis 3a process through
which a company develop a better understand of each
individualmarket andthenevaluateits importancefor thecompany3.
(eforesettingadecisionofentering in foreign market, the marketing
teamforemost evaluated its stakeholdersexpectations, strengths and
weaknesses and available opportunities in the externalenvironment
and possible threats )2oole et al, 1001*. They also carried out the
inspection andanalysis of target market and target group
cultures.,2 Company Summery$IG%" offers a very sleek and high
#uality luxury handbags to their customers in the 4nited/ingdom.
The company was established in ,-1- and opened its first branch in
'ondon. "tthemoment, thecompanyhas morethan5-branches indifferent
cities of the4nited/ingdom. The company is rapidly growing and
creating fierce competition among other localbrands such as Michael
Kors and Coach in the 4nited /ingdom market. 6ecently, the
7&8of $IG%" has decided toexpand its business activities on
internationallevelin order todevelop it brand image among other
competitors. 2.1 Mission Statement of the XIGMAThe company main aim
to provide the #uality and lifestyle product on affordable price
ascomparetoitscompetitors. 9iththeaimofproviding#ualityproduct
thecompanyalsobelieves on providing exceptional services towards
its customers weather they buy somethingor not.3 Market ChoiceIn
order to formulate the valuable market selection strategy of the
$IG%", 1,c:s framework(See Appendix 1) has been applied and
identified the following findings;< It has been noticedthat
=orth "merica and &urope increased the unemployment due to
consumers who spendvery carefully. In addition to this the crises
in the &uropean country:s economy )4/, Germanand >pain*has
influenced Gross2omestic +roduct)G2+* figurefor
,-11tatista),-15*thisagegroupaccounts1,millionfemaleoftheentire7hinapopulation.%ostlyof7hineseyoungstersarefashionorientedandbrandconsciousandhaveenoughknowledgeabout
thebrandselection. Thesefemalegroupareveryconcernedabout
theirfashion and lifestyle. They often follow the upcoming trend
and trying new things.4.2 +osition$IG%"promotes its brandinthe
7hinese market inorder toprovidetheluxuryandattractive product to
its customers. The purpose of entering in a 7hinese market is to
establishthe culture for the consumers to buy high #uality,
favourable and different product than itscompetitors in their home
country.1,4.3 Se*mentation$IG%" has segmented the 7hinese
population according to the age and gender wise andderivedits
targetmarketto focuson an individual specificallywiththesimilar
valueandlifestyle.Se*mentation 6aria0$e , 7reak)o8ns for Chinese
Consumers Market for XIGMA154 5a)uation4 6ist *rice4 7iscounts4
Cre,it Term4 &aci)itation4 Channe)4 7istri3ution4 6o'estics4
Conf'uration4 8ran,4 &unctiona)it(4 *acka'in'4 S(m3o)i9ation4
A,"ertisin'4 Sa)e &orce4 *u3)icit(*romotion*ro,uct*rice *)ace9
Marketin* MixThe term marketing is all about exploring, describing,
and serving people )(lick, ,-11*. Thesignificant changes and
development in the marketing is called marketing mix. "ccording
to+ride et al ),-1-* the marketing mix include product, price,
place and promotion help theorganization to satisfy the target
customers. $IG%" must need to consider its marketing mixform every
single aspect in order to effectively meet the customer:s needs.
There are fouraspects to the marketing mix such a product, price,
place and promotion.4ecommenation Plan For the Gro"th of XIGMA
113eference /otler, +. ),-11* %arketing insights from " to I. Hohn
9iley J >on Inc, =ew Hersey, =B +orter,%. &.
),--.*8ncompetition. ,ndrevisededition.
arvard(usiness>chool+ublishing,(oston 2oole, I., 'owe, 6., J
+hillips, 7. )100A* International %arketing >trategy. 1st
&dition . 6outledge Foreign ?isitors in the 4nited /ingdom,
K8nlineL "vailable From;http;MMwww.theguardian.comMuk
