International Marketing Business Environment

Question: Discuss about the International Marketingfor Business Environment. Answer: Introduction The following assignment focuses on the development of a marketing plan. The marketing plan has to be based on the growing giants in the field of footwear and accessories, Charles and Keith. The aim of this assignment is to provide a marketing plan on how to increase the business of the company across the continent of Asia. The marketing plan has to be a compact one so that the sales level of the company spreads to a new level and the mass following reaches a pinnacle. The marketing plan needs to be done by using various procedures. Relevant Background Information The journey of the company Charles and Keith began in the year 1996 when the brothers Charles Wong and Keith Wong founded the company. They provided various types of fashionable footwear to mostly women. The brand image started to improve. The lifestyle brand of Charles and Keith provided the customers with all the latest trends accessible within their product varieties. Business Environment of the Company In order to make a proper marketing plan and marketing strategies, there is a strong need to know the business environments they provide to the industry and to their customers as well (Wetherly Otter, 2014). It has been discussed before that they provide their products to the customers both online and offline at their different outlets. So this section has to be studied well by using different procedures. PESTEL Analysis Pestel analysis is a very important tool to make a proper marketing strategy for the organizations (Yksel, 2012). A company like Charles and Keith must take care of the political stability and instabilities, government policies and labor laws that are major deciding factors. The economical aspect in the macro-environment should be taken care. These factors include the economic growth, exchange rates, and interest rates in the target markets. Another important aspect is the social factors of population growth, career aspirations of the customers and their tastes according to age. The technological aspects of marketing involve inventing the new mediums of inventing technologies to communicate with the target markets, production and distribution of goods through technology. The environmental issues are getting importance in the marketing area as the lack of raw materials, pollution issues are increasing gradually. The legal issues should be maintained by protecting the equality rights, consumer laws, product safety and others (Newton, 2014). SWOT Analysis SWOT analysis one of the most important aspects of marketing where the analysis is done on the strengths, weaknesses, opportunities and threats of an organization (Hollensen, 2015). The strong points this organization has its strong brand image which, the customers add value to and another important strength of the company is its low cost products to catch the large number of people. A strong management can help the organization to gain a stronger position in the market. No other company can provide them with those products. Customer loyalty is also a strong point. The weaknesses of this organization include the long queue that the customers have to experience while entering their showrooms. The shortage of new designs lately also stresses of negative impact on the organization. A lack of scale i.e. cost of per unit output is very high so these things are considered as the weaknesses of the organization. The opportunities for the organization are immense because their online marketing decision has opened new horizons for more profit in the industry by reaching a larger number of customers. New range of products and innovation of new designs in their products can expand their business on a larger basis. They have to expand their markets internationally. Hence, there are various threats posed to the rise of the organization. These threats include the immense competition in both local and overseas markets, changing in taste of customers and the fact that substitute products are available very easily in the international markets. Marketing Strategy Since a marketing strategy is the foundation of a marketing plan, it should be developed after a thorough research on the market (Westwood, 2016). Objectives The objectives of Charles and Keith should be to improve its brand image. The development of brand image is very important as it has very deep implications with the profit and sales of the organization. The organization deals with mainly the women products so they should eye to work together with social organizations like Health Promotion Board and most importantly Breast Cancer Foundation to make women aware of the evils of breast cancer. They should target to increase markets in Korea as there are opportunities of grand business opening in the country. Target Markets It is very important for the companies to make a target segmentation of markets so that it can focus a single stratum of the society (Wedel Kamakura, 2012). Charles and Keith also should target one particular segment instead of trying its hands on all the people. . Their main products focus on womens footwear and accessories. They should target the working class women of Korea with various new commodities. They have three outlets at Seoul presently and they should focus on increase in the sales of their products. Market Positioning The marketing positioning of Charles and Keith is quite impressive. They provide employment to many women as well as inventing exclusive products for women of different ages. They have been winning awards constantly in their field and they have a shareholder of 20% by Louis Vuitton Moet Hennessy (Gupta, 2014). They have a very good media front. Their suppliers include over 30 factories from China and Malaysia. Marketing Mix Korea is a country where the men and women are very much fashion conscious. The Korean men use cosmetic products. So, the marketing mix of Charles and Keith has to be a proper one to attract more women customers under their belt. The 4 Ps of marketing have to be followed with the Price, Product, Promotion and Place (Gordon, 2012). The company should provide more unique products in an affordable price. The promotion should be done across the cities in creative way using attractive catchphrases. The marketers should choose appropriate places in Korea for the branding of their products in Seoul and other Korean countries as the Korean women maintain a style statement. Implementation and Control The proposals described in the marketing strategies should be properly implemented so that the proper outcome can be achieved and the marketing of Charles and Keith can be spread in Korea. The market of fashion aware country like Korea can be captured if they apply these marketing strategies with proper leadership, human and leadership management and motivation by the organization leaders (Biggemann et al., 2013). The marketing strategies should be controlled properly by using the sales volume, share markets and stockholders. Planned values and actual values should be compared properly. Deviations should be detected and eliminated after measuring the value of the indicators. Conclusion After going through the entire market plan, it can be concluded that a reputed company like Charles and Keith should execute some proper strategies if they want to attain a global market. The marketers need to analyze the needs of the customers by researching on the consumer behavior of the different areas. Different countries have different social backgrounds and the marketing strategies should be developed according to that. A country like Korea where men use skincare products needs unique products definitely for their women. The marketing plan, marketing mix, target segmentation should be analyzed properly to have a fruitful result of marketing products in Korea highlighting on its strengths, weaknesses and limitations. The strategies have to be implemented and proper control over the market should be held. References Baker, M. J. (2014).Marketing strategy and management. Palgrave Macmillan. Biggemann, S., Kowalkowski, C., Maley, J., Brege, S. (2013). 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