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Analysis Of Product Success In The UK Market

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Question:

Write a report following this brief: Choose a fast-moving consumer good from the UK which is unavailable in your home country. Investigate how the product could be launched in your home country and evaluate its chances of success.
 
 

Answer:

Introduction

The private company has grown over the years establishing itself as one of the key companies in the British market and food industry. Having employed more than 7000 employees the company has greater ambitions to expand its market to other continents. Mainly focusing on its products (snacks) the company through its strategic team have always used creative means to penetrate into different market segments.

Despite the different brands the company has always managed to produce quality fast moving snacks. That is the main reason as to why they have greatly expanded their markets into different countries in Europe such as the Netherlands, Belgium, and France (Ivanova,2015).

Analysis of success in the UK market.

Sales Figures

The company has strived and ensured it has attained its goals in all the areas. That has made it be even listed on the London Stock Exchange as it obtains revenues of more than 1050 million pounds. This sales revenue is mainly attributed to the total commitment of the company’s workers and the tireless efforts and guidance of the company’s management.

Market conditions

The fact that the company obtains high revenue in a market that has quite stiff competitors is a remarkable achievement (Khan, 2013). Most of this success is attributed to the marketing strategies of the company. The company uses competitive pricing to lure customers to their products, but at the same time ensures very high-quality levels of production (Leonard, 2011).

Target Consumers

The company has quite a wide range of target consumers this is owed to the fact that it produces quite a number of different products. However, the marketers have mainly focused on young people of age groups of between 10 years – 28years old. This is because there is an assumption that people of this young age groups tend to take a lot of snacks (Leonard, 2011). In addition to that the company targets customers during events, this includes sports events such as Football, rugby, tennis and athletics events such as the London Marathon.

Analysis of Home Market conditions.

Market condition

The Chinese market can be a potential gold mine for the company. This is because the country is regarded as one of the fastest developing countries worldwide. With very many experts and economists predicting it to becoming an Economic powerhouse worldwide (Ivanova,2015). This is due to its advancements in technology and the rate of development currently being experienced in the country. This is owed to the fact that the company is developing technologically under very capable and stable leadership which has implemented laws that not only support businesses but also favors foreign investors.

Target Consumers

In the China, the market itself has endless opportunities. This is owed to the high population in the country. In addition to that the fact that the country has a pool of young people, provides a greater market option (Ivanova,2015). This young person mainly works in the industries in China's urban areas. Therefore the appropriate target group for this market would be young workers and children of age groups that range from 15 years to 30 years old.

 

SWOT ANALYSIS

Strength

The company mainly relies on the fact that it has already established itself as one of the leading snack manufacturers in Europe. Therefore its major strength will be its Brand; however in addition to that, the fact that the company has quality equipment and competent workforce and management which operate in sync to produce quality products will be an added advantage.

Weakness

The major weakness of the company is that it has not yet employed sufficient use of technology in its production. Making it produce less product in a day. In an innovative country such as china, with a large number of populations, the production process ought to be top notch. This not only involves the production of quality products but also constant supply and ensuring that supermarket shelves are always stocked with the company’s products.

Opportunities

With the ever-increasing technological advancements, the company may employ these technologies to boost their production levels. The technologies would enable the company be able to meet increasing demands that is expected in the country

Threats

The threat that the company faces is the anti Junk food campaigns that are being conducted by some social groups. This might limit the company's growth rate. However with the company constantly researching on best methods of customer satisfaction and the production of healthy snacks, it is bound to out muscle this threat.

Research

In order to find out whether the Chinese market would be suitable for the company, a research was carried out by use of an online survey where participants were asked a host of questions after sampling the product.

Findings

From the research finding (As shown in the appendix), 50% of the respondents had an idea of the company although it has not yet reached the country. In addition to that 96% of the respondents loved the taste of the snacks that they sampled citing that it was unique I taste.

Discussion

Analysis of Research findings

From the above findings it is evident that the company has been known worldwide despite the fact that it is not yet in the Chinese market, half of the respondents have ever heard of it. The findings also suggested that the company product would be readily accepted by the market in china.

Analysis of issues

Some of the issues that came up during the research were the presence of other companies in the similar line of business. This issue however does not pose a great threat since the company believes that their product is of the highest quality while at the same time, they will be readily available at a pocket friendly price.

Conclusion

The entrance of this product in the Chinese market would be a stepping stone for the company to venture even further into the Asian market. It would have provided a greater opportunity for the company to build its presence in a different continent. With china being one of the fastest rising countries economically worldwide, the different brands of product that the company will introduce in the Chinese market will be expected to yield more profits.

Recommendations

The product should be launched in the Chinese market. A preferable period to launch it would be during a celebration period such as the Chinese New Year. 28th January.

 

References

Ivanova, K., 2015. Market Potential Analysis of Finland and the UK; Business case–“Sidebar business proposition”, Case Company: Orion Automotive.

Iyengar, R., Van den Bulte, C., and Valente, T.W., 2011. Opinion leadership and social contagion in new product diffusion. Marketing Science, 30(2), pp.195-212.

Khan, T., 2013. STP strategy for New Product Launch-a Work in Progress. International Journal of Business and Management Invention, 2(3), pp.56-65.

Leonard, D.A., 2011. Core capabilities and core rigidities: A paradox in managing new product development. In Managing Knowledge Assets, Creativity And Innovation (pp. 11-27).

Liu, T. and Schiraldi, P., 2012. New product launch: herd seeking or herd preventing?. Economic Theory, 51(3), pp.627-64

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