How marketing management does differ when promoting a single product in different regions?
Background to the study
In the current scenario, globalization is increasing on a continuous basis. Dealing in a diversified market, is not a simple task as one region may completely differ from other. Consumers buying behaviour hugely get impacted various cultural and demographic and cultural factors.
So, before dealing in a diversified market, firm needs to analyse the market on various perspectives to eliminate the situation of risk(Hollensen, 2015).
The motivational factor of this study is to get the detailed understanding regarding the essentiality of utilizing different strategies in different regions as it will support to get understanding regarding the areas where a firm needs to concentrate while dealing in the global market.
This research will support to give deep understanding regarding different marketing management strategy of the firm when promoting a single product in different regions.
For this study purpose researcher has selected Tescoas this retail firm is dealing in a global market and has shown leading performance in a global market. This research paper will support to critically analyse the research topic on the basis of various past studies which are related to the research topic.
Researcher will reference various blogs, articles, magazines, reports, business newsletters, etc. which will support to understand the research from different perspectives.
At the same time, primary data collection method will support to understand the point of view of the staff members of the firm who are dealing in different regions.
In this study, researcher will give huge focus towards ethicalconsideration as it support towards eliminating the hurdles and assist towards concluding the study in an effective manner.
- What is the importance of marketing management strategy towards the success of the organization?
- Why there is a need of utilizing different marketing management strategies when promoting a single product in different regions?
- What are the marketing management strategies utilized by Tesco when promoting a single product in different regions?
- What are the parameters on which Tesconeeds to increase focus while promoting a product in a particular region?
The research aim of this study is to identify the difference in marketing management strategy when promoting a single product in different regions, especially in the context of Tesco.
The research objectives of this study are as follow:
- To identify the importance of marketing management strategy towards the success of the organization
- To evaluate the need of utilizing different marketing management strategies when promoting a single product in different regions
- To analyse the marketing management strategies utilized by Tesco when promoting a single product in different regions
- To determine the parameters on which Tesco needs to increase focus while promoting a product in a particular region
In this section of the research, researcher will critically analyse the research topic on the basis of secondary data (Sheth, &Sisodia, 2015).
This section will support to get deep understanding regarding the research topic on the basis of various past findings related to the study.
It will enable to get the understanding regarding the importance of marketing management strategy,utilization of different marketing management strategieswhile promoting a single product in different regionswhile recommending the ways to increase the affectivity of marketing management in promoting a productin different regions.
Global marketing covers vast area, it is not just selling a product in international market but also it includes the overall process related to marketing management(Wagner, &Eggert, 2016).
It includes planning, producing, placing and promoting a company product in a diversified market. Dealing in a global market is not an easy task as firm has to face various challenges which differ region to region.In this context, promotional activity plays vital role due to this reason, firm has to design different promotional strategies for different market.
In the current highly competitive environment, no firm can survive without effective marketing strategy. In this context, Milanovic (2016) depicted that to get succeed in the retail market, it is essential to promote the brand in the market while focusing towards influencing the consumer buying behaviour.
For this purpose, adequate market research is necessary to understand the factors that can influence the buying behaviour of the consumers of a particular region.
Marketing management enables the firmto focus on the practical application ofmarketing orientation while focusing towards the utilization of effective methods towards increasing the brand awareness and brand recognition.
According to the views of McMillan, Rodrik, &Verduzco-Gallo (2014), effective marketing management supports the firm to increase the customer satisfaction which enables towards increasing the number of brand loyal customers and to influence the target audience.
Sheth,&Sisodia (2015)stated that only a few generations ago, shipping a product in another country was a difficult task which took months to reach in the market. Due to this reason, only few big companies show the endeavour to deal in international trade.
They have to undertake different difficultiesbut in the current scenario, international marketing has become trend. However, in the contrary, Kramsch (2014) argued that at present due to increase in the fierce competition, dealing and getting success in the global market is not an easy task.
For this purpose, firm needs to utilize different strategies according to the market in which they are dealing. In support of this, Peters, et al. (2013) depicted that firm needs to utilize different promotional activity for a single product in different regions due to different demographic and cultural influence in different countries.
In the views of Kerr, & Patti (2015), inthe context of retail firms, price-promotional strategy serves excellent role in dealing diversified market. Retail firms utilize different pricing strategy to sell a single product in different market while focusing towards the consumer expectations in a particular country.
Moreover, firms also utilize the strategy of extra discounts, freebies, after sales interaction.Although pricing strategy decreases per unit cost, but increases the sales of the firm so, overall firm becomes able to achieve the overall profit margin.
For instance, UK and India market is completely different. In UK, mostly people prefer to live nuclear however Indian consumers are society oriented and live in family (Ingenbleek, Meulenberg, & Van Trijp (2015).
So, for promoting a product in these two different markets, a retail firm has to utilize different strategies. While dealing in India firm can give buy two get one offer as Indians prefer to purchase in bulk due to large family size however for UK market, firm needs to utilize the strategy of providing the discount on a single unit of product.
While dealing in a global market, it is essential to understand the buying behaviour of the consumers and the promotional activities that can influence them.
In this context, Kramsch (2014) depicted that the reason behind the failure of Tesco in China market is that firm has applied the same promotional strategies which it has used in the UK without giving consideration towards that both the market are quite different from each other and the buying behaviour of both the countries’ consumers extremely differ from each other.
In support of this, Kerr, & Patti (2015) opined that it is essential for the retail firm to collect maximum knowledge about the culture, taste, climate, consumer needs etc. while evaluating them effectively.
IT supports to design the correct set of promotional mix strategy for the marketing of a productin a particular market.At the same time, McMillan, Rodrik, &Verduzco-Gallo (2014) determined that the right choice of promotional mix assists the firm to communicate the benefits of the product and service offering of the firm to the consumers.
At the same time, there is a need of promoting the product in a local language so that it will become more easy for the target customers to understand it. IT supports towards creating effective communication between the firm and the employees.
This section of the study supports to select the methods which will use by the researcher for the accomplishment of the study(Sekaran, &Bougie, 2016). It enables to execute the study in a right direction and supports to achieve the research outcome.
To conduct this study effectively researcher will include primary as well as secondary data collection method. For the collection of primary data, survey questionnaire method will be used by the researcher. However, for the collection of secondary data researcher will reference various blogs, articles, magazines, reports, business newsletters, etc.(Zikmund, et al., 2013).
For primary data collection, sample size of 100 respondents will selected by the researcher by using probability method.
For this purpose, researcher will take 50 staff members of Tesco from India however 50 staff members from UK stores to get the understanding regarding the difference in promotional strategy for a single product in different regions.
At the same time, e-mail method will be used by the researcher for interacting with the respondents as it enables to interact with quickly with the respondents(Babin, &Zikmund, 2015).
Primary data findings will be represented by the researcher by utilizing various tables, charts and graphs which will support towards representing the research outcome in a statistical manner (Sekaran, &Bougie, 2016).
For the purpose of effective data analysis, primary data findings will be correlated with the secondary data. It will support towards increasing the relevancy and reliability of the data.
This research will quantitative in nature and researcher will use MS-Excel software for the purpose of representing the primary data. For increasing the reliability primary data outcome will be correlated with the secondary data findings (Hair, 2015).
At the same time, to get the reliable data from the survey questionnaire method researcher will give focus towards ensuring the reliability and validity of the data. Researcher will include only those respondents who are interested for the survey.
Due to this reason, researcher will firstly send the mail to the sample size for inviting them for survey and only after getting their consensus, survey will be conducted with a respondent.
It is essential to give consideration towards ethical issues to conduct the study without any hindrance. For this purpose, while collecting the secondary data, researcher will give focus towards copyright, plagiarism and patent.
At the same time researcher will give focus to provide proper importance to the authors by adequate referencing and in-texting. In like manner, while collecting the primary data, researcher will give focus towards not to include any question which can hurt the feelings of the respondents.
Moreover, researcher will also focus regarding not to include any questions related to casteism, sex, or any other constraint that can create issue(Baker, 2014).
Additionally, there will be huge consideration given regarding not to disclose the information of the respondents without there permission.
This research project will start at July 17, 2017 and will complete on January 18th, 2017 within a time frame of approx. 6 months.
However,the exact dates can be slightly variedif there will any hindrance take place. The overall research will be completed in the time span of 185 days which includes start writing to concluding the research.
|Task Name||Start Day||End Day||Duration (Days)|
|Conclusion & Recommendations Recommendations||1/1/2018||15/1/2018||15|
|Final Report Submission||15/1/2018||18/1/2018||4|
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