MKT744 Global Marketing and Sales Department Samples

MKT744 Global Marketing and Sales Department Samples

1. Introduction

Global marketing and expansion is an important aspect that helps a company to increase its brand awareness in a global scenario. It assists in proper operations and improving position within markets. Current study will focus on market expansion of Girl Meets Dress (GMD) within the domain of Egypt.

In order to analyse feasibility of the country for expansion, the current study will be presenting a macro analysis of the country with the help of PESTLE analysis. Furthermore, competitiveness analysis of Egypt will also be presented along with objectives of current marketing. The study will also deal with strategy of marketing further depicting attractiveness of the country, entry mode, 4P’s of marketing and others. Lastly, the study will also be proposing a marketing plan that will ensure successful expansion of GMD within the domain of Egypt.

2. Company overview

Girl Meets Dress is a clothing company having its headquarter within the domain of the UK. It is mainly a designer rental dress destination providing clothes only for women for diverse occasions (Girl Meets Dress, 2021). The company has been operating since 2009 and has been providing accessories and designer dress at 95% retailing prices.

The company also provides a facility of renting dresses from 4000 pieces of designer and 200 designer dresses (Girl Meets Dress, 2021). However, ordering dress and returning policy of GMD is very easy and can be accessed by everyone. In the current years, GMD earned revenue of $5 million that contributed to its success. Henceforth, since the year of its establishment, GMD has been operating with proper revenue margin.

3. Situation analysis

3.1. Analysis of macro environment

Factors Analysis
Political ●      Political condition of Egypt was highly unstable further causing political issues within the domain, however, the current situation depicts high political stability

●      Secular, ethnic and religious conflicts have been observed within Egyptians

●      The political system of Egypt depicts semi presidential system (International Trade Administration, 2021)

●      The country seems to be having high influences over the states of Arabs

Economic ●      GDP of Egypt after the pandemic seems to be rising further depicting 2.9% as of 2021 that is higher than the previous year that is 2020 with a rate of -1.7% (Trading Economics, 2021)

●      However, the rate of unemployment is growing further  depicting 7.5% as of 2021  that is higher than the previous year depicting 7.3% as of 2020 (Trading Economics, 2021)

●      Additionally, inflation rate within the domain is also increasing further depicting 6.3% as of October 2021 (Trading Economics, 2021)

Social ●      Rapid growth of population is causing a serious threat for Egypt (Dunne, 2021)

●      The rapid growth of population also depicts high crime rate within the domain further reflecting a rate of 2.6% as per 100000 population (Knoema, 2021)

●      Current population of Egypt reflects 105134282 as of 2021 and depicting highly populated nation (Worldometer, 2021)

●      Literacy rate of Egypt reflects 71.17% as of 2021 further depicting a decline of 1.27% from 2013 (Macrotrends, 2021)

Technological ●      Egypt is a technologically advanced country further creating high scope for companies to deal with innovative services

●      Technological aspects contributed 15.2% of the GDP growth within the nation as of 2021 (International Trade Administration, 2021)

●      By 2030, government will be dealing with the initiative of capacity building alongside training programs, up gradation of the infrastructures and others (Ministry of Communication and Information Technology, 2021)

●      Investment within technological sector reflects $3.5 billion in the current year (Ministry of Communication and Information Technology, 2021)

Environmental ●      Egypt is highly concerned regarding the environmental aspects

●      The Nile River is highly polluted by the industry wastage

●      The nation also dealt with the construction of Aswan Dam that further reduced the river water flow within the nation further reducing its pollution level

●      Heavy winds and urbanisation have also led to the reduction of agricultural lands

Legal ●      Law and order depicts a war between the democracy and military rule within the domain

●      Civil system of law mostly comprised the Egyptian legal system (Wahab, 2021)

Table 1: PESTLE analysis

(Source: Influenced by Dunne, 2021)

From the table above, it can be seen that the political condition of Egypt is unstable, further having cultural issues that is likely to create barriers in expansion of GMD. The country also seems to be facing issues in the aspects of unemployment alongside high rates of inflation. According da Silva and da Silva (2021), high rate of inflation depicts high price of products and services that can benefit the company in the current situation but can influence future growth.

However, high GDP rates seem to be creating high ease for GMD to operate within Egypt. Apart from that, social instances of literacy rate can create issues in gaining proper and skilled labour. Nonetheless, as argued by Tangus and Omar (2017), a high rate of population can create ease in increasing the sales and profit margin that further is likely to impact GMD positively. Besides, legal, technological and environmental aspects seems to be benefitting GMD in its operations within Egypt. Henceforth, certain macro environmental factors seem to be challenging for the operations of GMD within the domain of Egypt while some factors seem to be assisting in its successful operations.

3.2. Competitiveness analysis of Egypt

Competitive environment of Egypt is a complex matter to understand. There are different apparel and textile companies with high revenue and market share. For instance, Pop Corn Co, Ltd is one of the famous textile and garment manufacturer with four-star rating, while Bishara Textile Garment Manufacturing Company, El Nasr Spinning Weaving And Knitting Company, also shares same rating and is considered to be the top most competitors of GMD within the domain (Ren et al. 2019).

However, overall, there are 108 small and medium companies within the domain of Egypt running textile and garment business. Henceforth, number of competition within the market is low, hence, it will be effective for the current company to thrive within the market and accomplish targeted goals.

4. Objectives of marketing

4.1. Rationale for objectives

One of the main objectives of GMD within Egypt includes creation of high brand awareness. It also deals with creation of innovative products that foster the attention of customers within the market. Even, objectives for GMD in its current expansion includes an increase of the revenue margin by 50% after 6 months of operations alongside increasing customer base by 10% after 3 months of operations. Engaging customers alongside initiating proper communication with the customers also seems to be key objectives for the company to accomplish its expansion. It is because, according to Triwastuti and Poulter (2018), creating high awareness of a brand is highly effective in attracting more customers towards the domain.

This in turn is likely to create a positive impact on the demands of customers further increasing the sales and meeting revenue margin by the end of 6 months successful operations. As customers want highly innovative products and are largely inclined towards it, therefore, it is considered to be an effective objective for current expansion. Additionally, as per Zif (2020), innovative products also help in increasing the position of the company within the market. Henceforth, objectives set for GMD seem to be meeting the current requirements of GMD within the markets of Egypt.

4.2. Justification

Objectives that have been stated in the above section are considered to be highly justifiable for GMD as it will assist the organization to operate successfully within the markets of Egypt. According to Najm and Alfaqih (2021), objectives of proper communication with the customers and attracting and engaging customers within the operations of the company will be effective in gaining a loyal base of customers within the domain. This will significantly help the company to acquire the objective of increasing brand awareness.

Other than that, as per Samoggia et al. (2021), building innovation within products and services also helps in increasing product value further satisfying needs of the customers. As per the theory of Maslow Hierarchy of Needs meeting needs of the customers tends to make them highly satisfied that further helps in increasing motivation level (Hammerschlag et al. 2020) [Refer to Appendix]. In this respect, customers will also be motivated to buy more products from GMD that further will increase the sales and revenue margin of the company and meet organisational objectives.

5. Strategy of marketing

5.1. Portfolio evaluation

5.1.1. Allocated country’s attractiveness

Political stability of Egypt is considered one of the attractiveness of the nations further leading to socio economic development (Foreign Policy, 2021). This is also helping operations of the companies operating under various sectors. However, Foreign Direct Investment (FDI) of Egypt also seems to be serving as an attractive power.

Notably, energy of fast growing population and their effort also seems to be bringing several developments within the domain. Consequently, the government of Egypt also seems to introduce a fiscal reform. This reform mainly works in creating a welcoming environment for partners of investment dealing with international business. This reform also helps international business to operate within the markets of Egypt with less hazards (Foreign Policy, 2021).

Egypt also deals with an improved legislation system that helps in improving business climate within the domain. It helps in licensing of business alongside capital markets, investments and others (Enterprise Press, 2021). Other than that, as can be observed in the section of PESTLE, the country is also having a high GDP rate and strong rate of inflation that also seems to be serving as an attractiveness factor of Egypt further will also be benefitting GMD in its operations.

Egypt also deals with a law that tends to create proper and high protection for the investors within financial and banking sector through the aspects of FDI. Hence, investing within Egyptian companies seems to be highly secure that further attracts foreign investors that further will also assisting in the operations of GMD within the domain.

5.1.2. Competitive strength of the company

Collaborative consumption is considered to be one of the many strengths of GMD that is also serving as competitive advantages within any market. As opined by Becerra, (2020), collaborative consumption helps in meeting the values of the customers further increasing company’s sales. It is also considered as a disruptive ecommerce business that democratises luxury needs of customers (Davidi, 2021). Additionally, providing designer dress as per retail price also seems to be another competitive advantage possessed by GMD.

It is because, as per Schwarzer (2019), providing dresses at retail price seems to attract more customers as they desire high quality dresses at low prices. GMD also deals with high tech consumer platforms alongside supporting digitisations of products and services that further helps GMD to operate its business with high engagement and support of the customers. Henceforth, these are the competitive advantages of GMD that are also likely to assist in the operations within Egypt.

5.1.3. Entry mode

Entry modes serve as an effective strategy for the companies planning to expand their business and create global presence. Based on the operations performed by GMD, the strategy of Licensing and Franchising will be effective for entering the markets of Egypt. According to Inne et al. (2020), Licensing and Franchising mode of market entry reflects setting up retail presence within an international country with the minimum amount of risks.

This strategy also provides the advantage of low cost entry and creates passive sources for income. This will further benefit GMD to operate with low cost and gain high revenue within the market. On the other hand, as supported by Dong and Xu (2019), the strategy of Licensing and Franchising assists in the political risks reduction and facilitates company’s operation through gathering high information regarding the local market.

As a result, political risk as depicted from the PESTLE section can be minimised through this mode of entry. Nonetheless, as argued by Jang and Cho (2018), this mode of entry is having the side effect of impacting the future reputation of the company.

However, the innovative values possessed by GMD can help in overcoming the future risk and maintaining high sustainability within the market. Direct exporting alongside joint venture strategy will not be useful for GMD as it helps in merging the brand that creates low opportunity for the company to operate within the international scenario in its original brand. Henceforth, Licensing and Franchising strategy will be the best for the company, as it will help GMD to maintain its original presence within the international scenario and operate with low amount of risks.

5.1.4. Segmentation, targeting and positioning

Segmentation: GMD’s demographic segmentation includes only women from 18 to 40 years. Additionally, the company also deals with luxury segments. It is because the dresses that are offered by the company are mainly for the occasion of birthday, prom, wedding, party, dinner, awards, dates, and others. As per SHENGNAN and Nedelea (2019), dresses for special occasions are mainly costly. As a result, this is also considered to be a luxury brand.

Apart from that, segmentation also reflects psychographic segments of the customers that reflects the thoughts and mentality of the customers. In this respect, the psychographic segmentation of GMD mainly deals with the customers having high taste in fashion and likes to go with the trending collections.

Lastly, geographic segmentation of GMD mainly deals with the areas that are highly populated with sophisticated and high-income people. It is because, as per Rind and Mirjat (2020), areas with a high sophisticated population seem to be creating a scope of high sales for GMD. Henceforth, segmentation of GMD includes targeting luxury customers.

Targeting: Targeting proper customer base seems to be enhancing business operations. As depicted from the section above, GMD offers women clothing only and this will only be targeting female populations within the market mainly ranging from the age of 18 years to 40 years. Additionally, populations having high fashion knowledge and being conscious about their outlook will be targeted by the company.

As the company sells products at retail prices, therefore, it will be targeting customers with medium to high levels of income. It is because, as per Abdelhady et al. (2018), targeting people with high level of income alongside medium level of income will help the company to sell its product effortlessly without any bargaining. Hence, this will be the targeting criteria of GMD in the markets of Egypt.

Positioning: GMD mainly follows innovative and high-level fashion trends that are considered to be highly demanding within the market. As per Pistol and Tonis (2017), markets with high demand for the products offered by the company help in managing sustainability level within the domain. Nonetheless, the company follows a medium range pricing strategy that can also be compared to low levels of pricing within the market.

6. Marketing tactics

6.1. Product

Strategy of product is considered to be highly effective as it serves as an important element to operate within an international context with the original values of the company. The strategy of product adaptation will be followed by GMD within the domain of Egypt. According to Lahtinen et al. (2020), the strategy of adaptation depicts adaptation of the needs and the cultural trends followed by the customers within the market of expansion.

Through this strategy, the company will be gaining benefit in reaching the customers with the desired amount of nation’s value. In addition to this, this strategy will also help GMD to attract more customers and increase the customer base. However, as argued by Kotabe and Helsen (2020), the standardization strategy includes no changing of the product value and thus seems to be taking time to adjust within the market.

This depicts low suitability of the standardization strategy in the markets of Egypt. Henceforth, the adaptation strategy seems to be highly feasible in the current scenario, as it will also help GMD to analyse the current fashion trends of Egypt and provide the customers with the desired value of fashion.

6.2. Place

Proper place selection is considered to be another most important aspect of market expansion. In this respect, the company can expand within the markets of Cairo within Egypt as the city consists of 20 million populations (Foreign Policy, 2021). It is also considered to be the most populated city and will also be beneficial for GMD. It is because, as per De Mooij (2021), the city with the most population seems to be providing a company with the chances of gaining a high customer base. Henceforth, selecting the aforesaid place is likely to provide GMD with the opportunity of increasing the sales and revenue margin of further meeting its targeted objectives.

6.3. Promotion

Strategy of promotion is also considered to be another important aspect in marketing. As opined by Kalogiannidis et al. (2020), strategy of promotion helps in creating high awareness regarding the brand that further helps in the attraction of customers towards the company. As GMD is an e-commerce business, therefore, selecting social media promotional strategy will be effective. Social media promotion strategy mainly involves advertising the products and services of the company in the sites of social media.

This advertisement includes pictures of products further providing description of the products and services that helps in attracting customers’ attention. Hence, as per this strategy, GMD will be promoting its products on social media sites such as Facebook, Instagram, and others.

6.4. Price

Penetration marketing strategy will be followed by the company in the current scenario. As depicted by Becerra (2020), the penetration strategy of market pricing deals with the notion of keeping low prices at starting and gradually increasing the prices after the company proper market share and customer base within the new domain.

As a result, people can experience the products and services of GMD. Customers mainly demand low prices and thus setting low prices helps in encouraging the customers to try the products offered by new companies. Additionally, it also helps in building trust among the customers further building a proper relationship. Henceforth, the market penetration pricing will be suitable for GMD in this expansion.

6.5. Distribution

Based on the operations of GMD, the company will be adopting internet retailers’ strategy for distributing its products and services. As the company deals with e-commerce business, therefore, the strategy of internet retailers will be helpful for GMD to distribute its products and services properly to the customers. Other than that, as per Samoggia et al. (2021), direct online sales to customers also help ecommerce business. In this respect, online direct sales strategy can also be adopted by GMD to distribute its products and services within the markets of Egypt.

7. Action plan of marketing

Objectives of marketing Strategies or actions Responsible person Timeline
To increase brand awareness Analysis of the needs of the customers and promoting the brand culture and products within the market Marketing manager, operational manager 6 months
To increase innovative value of the products and services Implementation of technological advancements and investments to deliver innovative products. Training and development of the innovative or creative skills can also be effective Technological experts, operational manager, Human Resource Manager 6 months
To increase the revenue of the company by 50% after 6 months of operations Increase the innovative value of products and services alongside popper pricing will be effective in accomplishing this objective Financial manager, Human Resource Manager (HRM), sales manager, operation manager 6 months
To increase customer base by 10% after 3 months of operation Offering discounts and satisfying the customers’ needs further maintaining a high level of transparency will be effective in increasing the customer base HRM, operation manager 3 months
To engage customers and maintain proper level of communications Implementation of proper promotional strategy and facilitating open communications among the customers can help in having proper communication with the customers Promotion and marketing manager, Human Resource Manager 6 months

Table 2: Action plan for marketing

(Source: Influenced by Samoggia et al. 2021)

8. Conclusion

From the current study, it can be concluded that market expansion requires proper strategy and objectives in order to gain success. In this respect, the expansion of Girl Meets Dress within the markets of Egypt will be executed through Licensing and franchising strategy.

Based on the PESTLE analysis it can be observed that GMD within the markets of Egypt is likely to face issues in terms of high unemployment rate, high inflation rate, and others while political stability, high GDP rate and others seems to be benefiting the company in its operation and revenue acquisition. However, high GDP rate, inflation rate, FDI and economic development seem to be serving as the nation’s attractiveness.

However, considering these aspects, GMD will be entering Egypt with penetration pricing strategy, social media strategy for promotion further selecting Cairo as the place for expansion. The company will also be adopting product adaptation strategy and strategy of internet retailers for product and distribution respectively. Henceforth, considering the innovative notion of GMD further providing the company with a competitive edge can be effective to sustain within the markets of Egypt after the expansion.

 

 

 

9. Reference list

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Davidi, A., 2021. How Girl Meets Dress is capitalising on the demise of ownership, The Guardian. Available at: https://www.theguardian.com/media-network/media-network-blog/2014/jun/11/girl-meets-dress-anna-bance [Accessed on 20 November 2021]

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Triwastuti, R. and Poulter, R.J., 2018. Emerging Market or Neighbourhood Country? A Case Study of Aura Light’s Market Expansion Strategy. TIJAB (The International Journal of Applied Business), 2(2), pp.69-85.

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Zif, J., 2020. Choosing the Rate of Global Market Expansion by Entrepreneurial Firms. International Journal of Business Administration, 11(4).

 

 

10. Appendix: Maslow Hierarchy of Needs

(Source: Kalogiannidis et

MKT744 Global Marketing and Sales Department Samples

 

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