BU7411 International Marketing Strategy Assignment sample
Introduction
The following report aims to provide an in-depth evaluation of the way a strategic marketing approach can help organisations to build a strong business network globally. The present report will consider the UK based Retail Company Sainsbury’s to illustrate its effectiveness to expand operations in the French market by implementing an effective market entry strategy.
The report will also illustrate the justification behind the selection of the host market, as well as market entry mode along with marketing mix that could be considered by the selected company while expanding in the French market in this report briefly.
Findings and Analysis
Contemporary issues
Implementing or adopting an effective international marketing strategy allows an organisation to foster its business network along with its customers’ base by establishing presence across the global market.
An organisation that is willing to expand internationally is required to adopt a suitable marketing strategy to promote its services or products across the host market efficiently.
PESTLE to analyse external market environement
| Political | ● Political and economic reforms
● Stringent consumer laws and policies ● Scrutiny of a retail organisation is done by the government |
| Economical | ● Improving economic position
● Increasing consumer purchasing power
● Growth in GDP |
| Social | ● Changing consumer behaviour and preferences towards cost-friendly products and a diverse range of products
● Lack of retail stores that specifically sell food and personal items ● Focus towards the better value of products |
| Technological | ● Technological advancements in supply chain management
● Use of AI and ml to manage company’s operations ● Use of technology to study the market and changing trends |
| Legal | ● Taxation laws labour laws and other regulations imposed by the government
● Disregarding any legal regulation in the country can lead to bankruptcy and closure |
| Environmental | ● Sustainability of operations
● Lowering carbon footprint |
Considering the political aspects in the external environment of the retail industry, it can be seen that there are several political and economic reforms, which have taken place, which can affect the entry of the organisation into the French market (Peiffer-Smadja & Torre, 2018).http://BU7411 International Marketing Strategy Assignment sample
Changes in regulations like prices, investment decisions and forming a regulatory framework according to EU standards. (Amf France, 2021). http://BU7411 International Marketing Strategy Assignment sampleIt would be very essential for Sainsbury to consider the kind of changes that are occurring in the political sphere so that the organisation can effectively enter into the markets without having any issues with the local government. Furthermore, the country also has changed consumer laws and policies, which protect the rights of the consumers at all behest.
Therefore, it is necessary for the organisation to define their terms and conditions of services in a proper manner so that they do not find themselves tangled in any kind of lawsuits filed by the consumer as wary of being cheated by the company.
Furthermore, the country’s government carefully scrutinizes the operation that is undertaken by any retail organisation within the country’s market and therefore this would require Sainsbury to maintain all kinds of quality procedures to get a clearance from the government before they start their operations in the markets of France (Allain et al. 2017).http://BU7411 International Marketing Strategy Assignment sample
In terms of economic factors, it can be stated that the economic position of France is improving and has improved in the past few years (Bolet, 2020). http://BU7411 International Marketing Strategy Assignment sampleDue to the economic development in the country, the consumer purchasing power within the country’s market has drastically increased which reflects that the organisation can make its pricing strategy quite flexible (Herbert, Robert & Saucède, 2018).http://BU7411 International Marketing Strategy Assignment sample
Furthermore, the country has also experienced growth in terms of its GDP, which indicates that the markets of France can be a profitable proposition if Sainsbury’s wishes to enter it. Consumers in France spend an average of €385 on food and groceries every month (Expatica, 2021).http://BU7411 International Marketing Strategy Assignment sample Companies can achieve a sustainable amount of sales from the French market mostly due to the fact that the purchasing power of consumers is high (Torre & Smadja, 2017).http://BU7411 International Marketing Strategy Assignment sample
While on the other hand when it comes to considering the social aspects, such as changing consumer preferences towards cost-friendly items and buying behaviour have been changing.
There is a distinct gap present in the retail industry of France, where the number of retail stores that sell food and personal care items is far less compared to other forms of retail stores (Shi et al. 2018).http://BU7411 International Marketing Strategy Assignment sample Since Sainsbury’s is an organisation that deals in the sales of most groceries and personal care items, the organisation has the capability to fill the gap present in the retail industry of France.
In terms of technical aspects, it has been seen that the retail industry has been adopting a number of different technological inputs. This has improved the efficiency of organisations, operating in the markets of France helping to improve the existing marketing channels.
The utilisation of technology has allowed retail companies in the market to study consumer behaviour patterns and changing perceptions of consumers (Gately, 2017). http://BU7411 International Marketing Strategy Assignment sampleFurthermore, technology has also allowed companies to connect more closely with the target consumers, which have helped in increasing the sales, and therefore, they can adopt similar technological advanced techniques to connect with their target customers.
When it comes to legal aspects it has been seen that the organisation needs to follow a number of different legal regulations present in the country to operate in a proper manner.
The company needs to follow a large number of taxation laws, labour laws, consumer laws, and others to avoid any kind of legal dispute with the consumers all the involved stakeholders (Rehfeldt & Vincent, 2018).http://BU7411 International Marketing Strategy Assignment sample
Similarly, in terms of environmental factors, organisations in the retail industry aim towards achieving sustainability and reducing their carbon footprint. This has influenced organisations to focus on the reduction of plastic products and packaging in their items (Mialon & Mialon, 2018).http://BU7411 International Marketing Strategy Assignment sample The company can adopt a similar approach and achieve sustainability once it enters the markets of France and starts operating.
Cultural aspects based on Hofstede’s cultural dimensions
Figure 1: Cultural comparison of France and UK according to Hofstede’s cultural dimensions
(Source: Hofstede insights, 2021)
Power distance
The power distance quotient in France is much higher than that of the UK, which indicates a bureaucratic organisational environment. Therefore, the organisation needs to consider these aspects before entering the market as this can drastically determine the company’s modes of operation strategies towards addressing the needs and demands of consumers (Mialon & Mialon, 2018).http://BU7411 International Marketing Strategy Assignment sample
Uncertainty avoidance
The uncertainty avoidance quotient in France is quite higher which indicates that the organisations, as well as the people living in the country do not indulge themselves in risky endeavours. Therefore, risky perspectives are avoided by both consumers as well as companies equally.
Additionally, it can also be stated that the company should not try to experiment with any kind of new products or services. Considering the higher quotient of uncertainty avoidance in the markets of France, consumers might not end up buying new items or avail new modes of services.
Masculinity
The quotient of masculinity is lower in France compared to the UK which means that gender equality is much more prevalent in the country therefore the company would find both male and female customers in abundance.
As a result, the organisation needs to focus more upon products and services that are not gender-biased (Lascialfari, Magrini & Triboulet, 2019). http://BU7411 International Marketing Strategy Assignment sampleFurthermore, when it comes to operating the human resources of the company the organisation needs to maintain a fair gender ratio in order to avoid internal conflicts and maintain the highest satisfaction rate among the employees.
Justification of the chosen market and market entry mode
While expanding into a new or international market, it is important for an organisation to identify or analyse the target market. The key reason behind this statement is that strong market analysis has the potential to obtain effective insight into the shifts or fluctuations of competitors, economy, demographics, present or emerging market trends, consumer purchasing and buying behaviour as well as others across the host market.
As mentioned by Nuryakin et al. (2021), market analysis is one of the crucial components that are required to be carried by every business organisation to collect all the required information that could directly impact business performance during or after business expansion.
While expanding business knowing the existing market trends, customers’ preferences, and market size across the host market plays a significant role to develop strategic promotional or marketing strategy to grab customer’s attention. In addition to this, market analysis also serves as beneficial to uncover different potential opportunities across the host market that leads to the generation of a strong customer base and network (Xu, 2020).http://BU7411 International Marketing Strategy Assignment sample
In the context of Sainsbury’s, the French retail market is considered as one of the attractive markets for their business expansion. The key reason behind this selection is that French is found to be the third-largest market after Germany and the UK that generates a turnover rate of 65 billion euros (CEIC, 2021).http://BU7411 International Marketing Strategy Assignment sample
In addition to this, growing popularity of online retailing practices is found to be another aspect that opens up opportunities for international retailers like Sainsbury’s to flourish their business in French retail market (Herbert, Robert & Saucède, 2018). http://BU7411 International Marketing Strategy Assignment sample
Despite a sudden decline during the fiscal year 2020 by -11.72%, the retail market in France has effectively coped up with the situation and enhanced its retail sales growth. In this context, retail sales in French market are found to have grown by 42.3 % during the month April 2021 as compared to the 25.4 % growth in March 2021 respectively (CEIC, 2021).http://BU7411 International Marketing Strategy Assignment sample
Figure 2: Growth of French retail market
(Source: CEIC, 2021)
In the context of the following figure, it can be clearly highlighted that fashion and clothing retailers are the leading sector with persistence of 135 chains followed by decorations and furniture 46, leather and footwear 50 and others.
In this context, it is identified that there are about 27 food and 30 personal care retail chains in French that can serve as an opportunity for Sainsbury’s to obtain success after expansion in French market (Statista, 2021). http://BU7411 International Marketing Strategy Assignment sampleThe key reason behind this statement is that Sainsbury’s is a renowned and well-established supermarket retail chain in the UK.
Thus, Sainsbury’s could utilise different marketing approaches to minimise its market competition during expansion due to the persistence of minimal retail chains in this food and personal care product category (Dewitte, Billows & Lecocq, 2018).http://BU7411 International Marketing Strategy Assignment sample
Figure 3: Number of retail chain in France
(Source: Statista, 2021)
Considering the above statistical evidence, it can be mentioned that consideration of French retail market for the expansion of Sainsbury’s operations is justified and appropriate to flourish their growth and prosperity.
Market entry strategy or mode is considered as an effective tool for obtaining clarity about the way an organisation can enter into a new market accurately and efficiently. Selection of strategic marketing entry mode helps to analyse the insight about the way business can be established into a new host market.
According to Shen, Puig & Paul (2017), there are different market entry modes such as exporting, licensing, franchising, joint venture, Foreign Direct Investment and others. Depending on the organisational existing state, a suitable market entry mode is being selected during the business expansion process (Schellenberg, Harker, & Jafari, 2018).http://BU7411 International Marketing Strategy Assignment sample
While expanding business like Sainsbury’s across the host market France, exporting mode of entry offers a wide range of opportunities to obtain business success after expansion. For example, the exporting approach can serve as beneficial for Sainsbury’s in terms of gaining a wide range of business and customer’s networks.
Exporting can also serve as effective in terms of diversifying the existing portfolio of Sainsbury’s and enhancing opportunities towards obtaining market competitiveness (Lin & Ho, 2019).http://BU7411 International Marketing Strategy Assignment sample It is identified that an organisation that emphasis exporting is able to expand their market and vision effectively regionally or internationally. Exporting products can serve as beneficial in terms of accomplishing business expansion goals as well as maximising profitability (Amf France, 2021).http://BU7411 International Marketing Strategy Assignment sample
Franchising can be considered as another entry mode for Sainsbury’s while expanding business in the region of France. Franchising approach allows an organization like Sainsbury’s that is willing to expand in French market by minimising business expansion risks. In addition to this, with minimal employees business expansion can be accomplished easily across the host market with franchising approaches (Bretas & Alon, 2021).http://BU7411 International Marketing Strategy Assignment sample
In addition to this, this approach can further help Sainsbury’s in terms of strengthening its brand equity along with promotional activities accurately during the expansion activities. Thus, it can be mentioned that these two modes of entry can be integrated by Sainsbury to obtain success after expanding its business operation in French market. In this regard, direct exporting and franchising would be more profitable entry method.
Marketing mix
International Product Strategy
The term “international product strategy” is found to be associated with all the decisions regarding organisational services and products offered across the international or host market.
For instance, decisions regarding customisation or standardisation of communication strategy generally rely upon that specific product is locally accepted or standardised (Liu & Shi, 2017). http://BU7411 International Marketing Strategy Assignment sampleProduct strategy is associated with identification of specific products that should be offered across the host country to add value to the business after expansion.
Figure 4: EPRG framework
(Source: Martin, 2021)
In the context of Sainsbury’s, it can be mentioned that a regiocentric approach from “EPRG (Ethnocentric, Polycentric, Regiocentric and Geocentric)” framework can be adopted while expanding its operations across the host country France. The key reason behind this statement is that a regiocentric approach could serve as beneficial in terms of expanding business in the ranch market easily.
This is because the companies that utilise the mentioned approach during their expansion are trying to focus on the market that shares similar market characteristics (Martin, 2021).http://BU7411 International Marketing Strategy Assignment sample
UK and France almost share the same market characteristics ,thus; utilisation of the regiocentric approach would help Sainsbury’s to obtain business success after expansion (Fontaine et al. 2020).http://BU7411 International Marketing Strategy Assignment sample In addition to this, it is identified that retail chains for food and personal care products are found to be minimal in the French retail market as compared to other product categories. Thus, Sainsbury’s could focus upon establishing their business in the identified retail chain products during the initial phase of their expansion in France.
Additionally, Sainsbury’s will be required to identify the specific product categories market such as food, personal care, groceries, and others within which they could flourish their business appropriately during market expansion process.
International pricing strategy
Pricing strategy can be considered as one of the crucial components for any business organisation in order to maximise the chance to obtain business success in the host market. As mentioned by Kienzler & Kowalkowski (2017), having or implementing an effective pricing strategy can serve as beneficial for any business organisation like Sainsbury’s to distinguish itself from the other market competitors.
In addition to this, pricing strategy also highlights or assumes the acceptability of products or services that an organisation is going to offer in the new market. Overall profitability, market share, and financial growth can also be determined by having a suitable pricing strategy. During expansion, Sainsbury’s could implement the concept of the “Cost Leadership Pricing” strategy in the French market.
The key reason behind this statement is that utilising the mentioned pricing strategy during market expansion can serve as beneficial in terms of maintaining market size within the host market.
Market size of a particular product can also be generated through utilisation of the mentioned pricing strategy during expansion. Sainsbury’s could strengthen its business sustainability along with profit margin by adopting the mentioned pricing strategy effectively in the future (Wada, 2018). http://BU7411 International Marketing Strategy Assignment sampleMarket competition can also be minimised to enhance the chance of generating more capital in the context of maintaining overall business growth across the French market.
International Promotion Strategy
Promotional activities require to be effective and attractive based upon which overall growth and profitability rate depends. According to Untari (2020), promotional strategy requires to be developed by any business organisation that is willing to expand in order to promote their services or products that they are going to offer across the host market.
Promotional mix in this context can be considered for Sainsbury’s for gaining attention from their target customers in French market by promoting their products or services accurately and efficiently.
Personal Selling and Sales Promotion can be considered by the mentioned company in order to gain attention from the target customers and to increase sales. Adding to this, with the proliferation of technology, every business organisation has been adopting digital media platforms to promote and interact with the target customers effectively before expanding business across the host market (Bala &Verma, 2018).http://BU7411 International Marketing Strategy Assignment sample
In this context, Sainsbury’s could consider the social media platforms such as Facebook, Twitter, Instagram, along with email marketing strategy in order to grab the customer base across the French retail market effectively. In addition to this, being a renowned company, Sainsbury’s already has a presence in different identified social media platforms that serve as beneficial for them to establish their preference across French market in the future (Jacobson, Gruzd & Hernández-García, 2020).http://BU7411 International Marketing Strategy Assignment sample
International Place Strategy
While expanding in the international market, market strategy plays a significant role in terms of providing detailed insight about the market within which an organisation is willing to expand. Through cultural and macro-environmental analysis, it is identified that Sainsbury’s has the potential to expand its market and obtain business property across the French retail market effectively.
Even, it is important for an organisation like Sainsbury’s to analyse the specific place where they could achieve success after expansion. International strategy for perceiving a suitable place to expand a business is also found to be associated with the consumer preferences, demands, expectations along with market stability within which an organisation is willing to expand (Ahi et al. 2017).http://BU7411 International Marketing Strategy Assignment sample In addition to this, the retail market across the mentioned market is found to be growing rapidly over the past few years raising opportunities for international reapers to expand its market (Tien, Phu & Chi, 2019).http://BU7411 International Marketing Strategy Assignment sample
Conclusion
In relation to the above discussion, it could be highlighted that development if suitable and sustainable market strategy has the potential to promote services, brands or products effectively in front of treat audiences. In addition to this, it is seen that the retail market in France has been growing rapidly and generating a wide range of opportunities for international retailers like Sainsbury’s for their expansion.
It is identified that with the help of identified market entry mode that is exporting and franchising along with mentioned marketing mix strategies could serve as beneficial for the aforementioned company for their future expansion in the French market.
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