LONU054 Global Marketing Essay.

The current report aims to select three international markets, in which a specific product or service is planned to be launched. After the selection of product and the international markets, recommendations have been developed for effective marketing strategy in entering and succeeding in one of the selected markets (Gruner, Homburg and Lukas 2014). The launch would be the Rimmel match perfection foundation mainly designed for individuals to improve their skin. It could be applied both in summer and in winter seasons; however, the benefits are more felt in summers. For people with dry skin, a little amount of moisturiser is needed before applying the foundation in their skin. In addition, the foundation has amazing coverage, as little amount of the same is required (Gruner, Homburg and Lukas 2014). This is because the nature of the product is not too much thick or gel-based and its consistency is semi-liquid. The product is light and the individuals could feel it as their second skin. Furthermore, this product adds dazzling glow to face and after application, it mixes and settles with skin in an effective fashion. Thus, the duration of this product stays longer at both indoors and outdoors.

In order to evaluate the feasibility of the selected markets, the PESTLE model and Cage distance framework have been used. With the help of the former model, the organisation could evaluate and monitor the external factors of marketing environment, which have direct influence on the organisational activities (Armstrong et al. 2014). In addition, this model dissects the other factors like technological aspects in the form of innovation, which might influence the cosmetics industry and market, legal aspects in the form of regulatory compliance having effects on business subsidiaries in other nations and company policies.

The distance framework of Cage, on the other hand, aims to analyse both global and inter-regional capital, information, trade and people (Baker 2014). This model would be applied to check the variations in the three markets on four different dimensions. The first dimension is culture, which comprise of religions, ethnicities, values and languages. The second dimension is related to administration in the form of currency fluctuations, trading blocks, political resentment and colonial ties. The third dimension is geographic that takes into account time zones, distance, climatic conditions and cross-borders (Cavusgil et al. 2014). The final dimension is economic differences that constitute of economic inequality, cost and quality of natural resources, infrastructure, financial resources, information, human resources and knowledge.

The three markets that Rimmel has selected in order to launch its match perfection foundation comprise of India, Japan and Thailand. The detailed evaluation of these three selected markets has been demonstrated as follows:

India is a huge nation having population of above 1.2 billion people and it is anticipated that the nation would overtake China in term of population within the upcoming 20 years (Alden, Chen and Zhao 2017). In addition, it has the biggest proportion of individuals living below the poverty line compared to any other nation. However, the economy of the nation is dynamic in nature and the government has enforced necessary measures to improve the standard of living of the individuals. India is leading in terms of outsourcing business, IT and customer services for many global organisations. Thus, the individuals benefiting from the surging economy of the nation have started to visit overseas and they are prone to purchasing luxurious foreign goods (De Mooij 2013).

India follows common law obtained from judicial decisions for mediating disputes and legal actions. Thus, the administrative distance of the nation is identical to those of the UK legislations (Griffith and Hoppner 2013). In addition, it obeys the different guidelines of the United Nations in terms of property, human rights and environment. Furthermore, the nation has initiated the “Company Law 2013” that looks after the incorporation of firms, directors, responsibilities and firm disbanding. Therefore, Rimmel needs to comply with this law to conduct its business operations and other necessary actions (Hollensen 2015). The relationship between India and UK is highly positive because of the past colonial position of the latter. Thus, Rimmel could benefit from this opportunity to enter the Indian cosmetics industry, as the volume of trade between the two nations has increased largely over time.

Figure 1: Trade volume between India and UK from 2004-2014

(Source: Foundation 2017)

The cosmetics industry of India has witnessed massive growth over the previous years due to the influx of a large number of global brands. The low barriers to enter the market have been due to the rising demand of branded products among the individuals through aggressive advertising strategies of the major players (Indounas 2016). It has been observed that the Indian cosmetics industry, which was once dominated on the part of females, has now begun to realise revenues from male individuals as well. This is mainly achieved by forming male-specific requirements, particularly in creams and lotions. Due to such change in buying behaviour of the male counterparts, the cosmetics industry of India has been growing with “compound annual growth rate” of 17.06% for the past five years (Schlegelmilch 2016). Skin care has been an interesting legroom for developing new products and the manufacturers are attempting to convince the consumers to adopt a regimen of skin care through different product launches in the skin care market. The Indian government lends support to diversification of products and hence, Rimmel could utilise this opportunity to tap into the market, as favourable administrative conditions are inherent in the same.

India is bordered by six nations and it is five hours ahead of the UK time. The area of the nation is 3.3 million square kilometres and the climate varies from region to region. The advanced controls of Rimmel would be valuable at the time of dealing with extreme subcontinent weather conditions. The biggest issue related to skin care in India is the increasing amount of air pollution due to inferior quality of petrol and poorly designed car engines. Under such conditions, the match perfection foundation of Rimmel is designed in such a way that it could be applied in all weather conditions (Rimmel London UK 2017). Thus, the organisation would be able to win the trust and confidence of the customers and it is expected that the product would create hype in the market. The Indian culture is a mix of variety of people belonging to different castes and different religions. The major religions of the nation include Hinduism and Muslim. As majority of the population is Hindu, they prefer vegetarian. As Rimmel is not involved in animal testing for developing its products, the organisation could tap into the Indian market easily without hurting the sentiments of the customers.

The business sector of India has grown predominantly in the past 15 years in the absence of trade barriers, tariffs and restrictions on imports. As a result, it has enabled both UK and India to invest in the economy of each other.

Figure 2: Foreign direct investment between India and UK from 2004-2013

(Source: Oecd.org 2017)

However, there are some economic issues, which could result in setback. One such instance is the currency fluctuations, which could affect the profitability of Rimmel in the Indian market. It has observed that 1 Indian rupee equals to £80.91. In addition, the price of match perfection foundation varies from £7 to £9 in the UK market. Therefore, an appreciation in pound might increase the price of the product. As a result, the consumers would opt for purchasing substitutes at lower prices in the market. On the other hand, a fall in pound value might reduce the revenue expected to be realised from the market (Laroche and Park 2013).

In terms of technology, India is a nation having 3 million technical professionals graduated every year. Hence, Rimmel could utilise this opportunity by recruiting these competent personnel in its proposed Indian subsidiary for gaining competitive edge in the market.

Japan is an island country located in East Asia. It is a medium-sized nation having a population of around 126,323,715 in 2016 (Steenkamp 2017). The economic inequality of the nation is relatively low in contrast to other nations with higher amount of political stability. It is one of the fastest growing economies of Asia and the structure of the government is parliamentary in nature with Prime Minister as the governmental head. It has a market economy, in which the prices of services and products are ascertained in free price system. The nation is a member of the “Asia-Pacific Economic Cooperation (APEC)” and the “Trans-Pacific Partnership (TPP)” (Gruner, Homburg and Lukas 2014). Moreover, the nation is blessed with higher amount of raw materials and other resources with immense scope for new business set-ups.

Japanese culture is wrongly thought of as the biggest impediment to expand business for many cross-border firms planning to enter the market.  The main language of the nation is Japanese, as only a handful of people know English. The Japanese individuals believe in developing strong family social networks in major business aspects. In case of western nations, the employability is ascertained through experience and skills (Nebenzahl and Jaffe 2013). In order to conduct business transactions, the Japanese people prefer face-to-face interactions to gain an insight of the organisation. In addition, there is absence of protocol for others while sharing judgements. Therefore, Rimmel could use these opportunities through face-to-face communication with the potential customers. As a result, it would eliminate the possibility of misunderstandings between the Japanese individuals and staffs of Rimmel; thus, assuring effective associations (Papadopoulos and Heslop 2014). In addition, such positive associations would help in developing future path for Rimmel in the Japanese cosmetics industry.

Japan is a basically a nation, in which civil law is inherent. On the other hand, UK is a nation where common law is prevalent. Hence, it is required for the managers of Rimmel to gain a thorough knowledge of the Japanese business systems and laws in case of common disputes. At present, Japan is a member of the United Nations and it has a permanent membership of the Security Council (Gruner, Homburg and Lukas 2014). However, there is an ongoing dispute going on between Japan and North Korea regarding the seizure of Japanese individuals and program of nuclear weapons. Apart from this, Japan is a politically stable nation and it offers immense scope for the foreign companies to expand their businesses in the market. Therefore, Rimmel could utilise this opportunity by entering into a partnership with a domestic cosmetic manufacturer for initiating its operations in the Japanese market (Gruner, Homburg and Lukas 2014).

Japan comprises of four main islands and six thousand minor ones that cover an area of 234,890 square miles with huge climatic variation. The Asia-Pacific monsoon cycles shape the climate of the nation that brings huge rainfall during summer and icy winds during winter. However, the nation has 150 volcanoes and since the islands are situated on main fault lines, there is high possibility of earthquakes (Papadopoulos and Heslop 2014). In addition, due to the steep mountains, the inland waterways could not be used for transfer of goods from one place to another. Thus, Rimmel needs to find ways to manage these obstacles for expanding its business in the Japanese cosmetics industry.

The economy of Japan is fourth biggest in terms of purchasing power parity, third biggest in terms of nominal GDP and second-biggest developed economy. There have been considerable improvements in the economy in terms of investors’ perceptions with higher amount of trade volumes between UK and Japan (Papadopoulos and Heslop 2014).

Figure 3: Trade volume between Japan and UK from 2005-2015

(Source: Ons.gov.uk 2017)

In addition, the government of Japan is offering initial public offerings to improve the operations of the cosmetics industry. Thus, Rimmel could exploit this opportunity to reduce its cost of operations after its business expansion in the Japanese market. In terms of technology, almost 95% of Japanese individuals use internet at home. With the growing popularity of social media, Rimmel could use this platform as well to reach the potential Japanese customers (Zeriti et al. 2014). In addition, technological infrastructure of the nation is highly developed, as Japan is one of the leading electronics manufacturers in the global arena. Thus, Japan could be perceived as a potential business opportunity for Rimmel to launch its skin care product.

Thailand is a high-income nation having gross national income of $52,090 per capita. The nation offers the most favourable regulatory environment for the global businesses, which has helped in making it a competitive economy. It has been observed that high value added activities are given higher importance in the nation (Papadopoulos and Heslop 2014).

Thailand is a nation having multiethnic society in terms Chinese, Indian, Eurasian and Malay communities. In majority of the cases, an organisation would encounter Thailand and Chinese as the counterparts of businesses due to high population. In general, the Thailand individuals are basically cosmopolitan and open in their outlook (Papadopoulos and Heslop 2014). English is the most common language in Thailand and therefore, Rimmel would not have to encounter any issue related to communication with the potential business customers. Along with this, the Thailand and individuals are highly conscious about their health and beauty. Therefore, they tend to purchase products that offer utmost quality irrespective of the pricing structure. In this context, Kang, Kim and Yoo (2014) remarked that maintaining the product quality is of utmost importance for any organisation to attract maximum number of customers. Hence, Rimmel could exploit this opportunity by offering products at a higher pricing structure to the Thailandan individuals to increase its overall profit margin.

As Thailand is a former British colony, the legal system of the nation is developed on English common laws. Hence, it is identical to that of the UK regulations. At present, the relationship between UK and Thailand is highly positive due to rising number of trade deals between the two nations (Gruner, Homburg and Lukas 2014). The cosmetics industry of Thailand has experienced significant diversification along with the rest of the economy, as the CAGR of the industry has risen from 12% in 2012 to 23% in 2016. Thailand is a demographic nation and the government welcomes the foreign business organisations to initiate their operations in the market. In addition, the government provides initial public offerings to the cross-border firms to develop their business counterparts in the nation. Thus, Rimmel could utilise this opportunity to develop its business operations along with creating a presence in Thailand (Gruner, Homburg and Lukas 2014).

Thailand is a small island state in South-East Asia located between Malaysia and Indonesia. The total land area of Thailand is 719.1 square kilometres. The climate of Thailand could be considered as tropical rainforest climate with no distinct seasons. It is better characterised by heavy rainfall and high humidity throughout the year (Gruner, Homburg and Lukas 2014). However, from the PESTLE model, it has been found that the main environmental issue is related to water and air pollution. This is because of the widespread growth of industrialisation and the ineffective responses of the government to such issues. Apart from this, the nation offers immense scope for foreign businesses, which Rimmel could use to diversify its business operations in the market.

The market economy of Thailand is highly trade-oriented and it is considered as the widely open economy in the world. It has third largest per capita income in terms of GDP and purchasing power parity (Gruner, Homburg and Lukas 2014). The Thailandan economy is one of the main foreign direct investment outflow financiers in the global arena. Along with this, the nation is also benefitted from the inward FDI flows because of favourable attractive climate of investment coupled with stable political climate.

Figure 4: Foreign direct investment between Thailand and UK from 2004-2013

(Source: Sun, Paswan and Tieslau 2016)

In terms of technology, Thailand is highly advanced, as 93% of the individuals us internet and social media in order to meet their daily needs. Along with this, advertising has been the most common form of business organisations to attract the customers in purchasing a specific product or service. Hence, from this point of view, Thailand is perceived as the most feasible option for Rimel to diversify its business in the market (Gruner, Homburg and Lukas 2014).

The most suitable market for Rimmel Make-Up Company’s new product is observed to be the target consumers of the company identified in Thailand. The company has segmented its target market in Thailand for its new product launch “Rommel match perfection foundation” based on geographic, demographic and behavioral market segments (Slater, Mohr and Sengupta 2014). Considering the selected Thailand market, the company has divided its consumer base within rural and urban consumer segments. However, in consideration to the characteristics of the new product, it was gathered that the new Rimmel makeup foundation is suitable for urban population in Thailand. Tier 1 and Tier 2 cities in Thailand are most suitable target market for the company’s new product (Baker 2014).

Considering demographic segmentation of target market, Rimmel Make-Up Company divided its consumer segments based on their age and cross-referenced the same with the occupational market segments. It was gathered that the new product is targeted at single along with married females within the age group of 20-55 years those can be professionals and students (Boone and Kurtz 2013). Moreover, the target consumers will belong to the upper class and middle class. Considering the psychographic and behavioral consumer segmentation, Rimmel Make-Up Company has divided its consumer segments for the new makeup foundation based on their objective behind the selection of particular cosmetic product. The company also selected its target consumer market based on the make-up habits and beauty regimes of the Thailandan women (Chang and Taylor 2016). Based on such consideration, Rimmel Make-Up Company have decided to target young professional women of Thailand those desire totally hustle free make-up solution that does not cause harm to skin on regular usage of the Rimmel match perfection foundation.

Rimmel Make-Up Company has decided to launch its new product within the target Thailand market considering the needs of the target consumer segment. Perception towards make-up is observed to be changing in the Thailand market. Moreover, based on the desires of the target consumer, the company has designed its make-up foundation and positioned it as mineral cosmetics those serves as form of make-up that contains compressed minerals that does not contain wax or any oil additives in it (Czinkota and Ronkainen 2013). Minerals used in the “Rimmel match perfection foundation” are deemed to have several health benefits for skin without doing any harm to the skin. Moreover, mineral make-up offers all-in-one skin care benefits such as foundation, sun, and color protection along with providing nourishment to the skin (West, Ford and Ibrahim 2015).

Global market entry strategy that can be followed by Rimmel Make-Up Company for expanding its business internationally is through joint venture with renowned cosmetic company of Thailand (Kotler et al. 2015). This global business expansion strategy can be effective for the reason that collaborative association among both the company’s recent consumers using both the company’s cosmetics is acquired by Rimmel Make-Up Company. The company also considers praising its virtues and generating future markets for the cosmetic company to target. In nations such as Japan in which there are certain resections on company ownership, joint venture strategy can facilitate the company in entering Japanese cosmetic goods market and expand their business operations (Hallbäck and Gabrielsson 2013). The joint venture strategy can be highly advantageous to enter within the global market. For instance, Lakme went into joint venture with Hindustan Unilever to market Lakme’s leading cosmetic ranges and other effective cosmetic products of both the companies. However, the company must be careful about certain disadvantages of this strategy as difference in segmenting consumers and marketing strategies can cause problems for successful product launch of the company (Rogers and Davidson 2015).

As Rimmel Make-Up Company is not so renowned internationally, it can follow low cost strategy to gain increased attention of target consumer segments by offering them low cost cosmetic product “Rimmel match perfection foundation” that will serve as value for money (Boso, Cadogan and Story 2013). In the selected global markets, it has been observed that several cosmetic companies are offering low cost for their cosmetic products to gain huge consumer segment within the competitive market. If the company is attempting to enter the Thailand market, cosmetic companies namely Aromarosa natural products are observed to offer several cosmetic products at low cost (Grant 2016). For this reason, if Rimmel Make-Up Company followed this strategy it will be competing in high-risk place. However, prospects for international products are high in Thailand for which the company might succeed in the nation.

Another market entry strategy that can be followed by Rimmel Make-Up Company is through being a global strategic partnership member. Within the cosmetic industry, this strategy serves as the best way for the cosmetic company in setting business within less mature markets and global markets of likely consumers (Challagalla, Murtha and Jaworski 2014). The global business expansion strategy can be effective for the reason that collaborative association exist between both the companies. Moreover, recent consumers can use both the company’s cosmetics (Alon et al. 2016).

Most effective strategy for the company can be to become a member of global strategic partnership. Within the cosmetic products industry, global strategic partnerships are considered as most effective ways for the cosmetics company in tapping new consumer segments in new geographical segments particularly within the less mature markets and potential target market (Kozlenkova et al. 2015). Through partnership of Rimmel Make-Up Company with the OECD “(Organisation for Economic Cooperation and Development)”, the company can make sure that the new product that the company intends to launch in the Thailand market has passed through several safety assessment (Babin and Zikmund 2015). This is because of the reason that integrated approaches are employed within the OECD chemicals program that considers globally accepted hazards evaluation of harmful cosmetic chemicals. This partnership will facilitate the company in applying the integrated approaches that considers application integrated initiatives that can further enhance the company’s regulatory acceptance. Moreover, this will also facilitate launching the new cosmetic product within national and regional chemical testing regulations within the OECD member nations (Gruner, Homburg and Lukas 2014).

Joint venture strategy can facilitate the cosmetic companies to enter some markets in certain nations that the companies might not be allowed to conduct on their own. Certain nations need non-domestic organisations for carrying out joint venture strategy in the host nation to carry out business (Gruner, Homburg and Lukas 2014). In Thailand, joint ventures are authorized and regulated by the nation’s government that consider rule of engaging more than two business partners. In India, certain organisations decide to enter into joint venture strategy with the close nations for the reason that it enables both the companies in utilizing both the company’s resources (Xu, Frankwick and Ramirez 2016).

However, there are certain disadvantages associated with joint venture strategy. For instance, there might be certain conflict between both the companies that can negatively affect any decisions taken in combination of both the business partners (Xu, Frankwick and Ramirez 2016). However, certain contract will reveal the type of conflict resolution that can be employed in case of any dispute. Moreover, there might be some reasons that can cause harm to morale and of both the businesses. When two businesses come together because of joint venture, they gain endless liability and sole proprietors along with legal obligations of the business partners.  Moreover, the business partners will be accountable for the debts if either of the businesses is not capable to pay the expenses (Gruner, Homburg and Lukas 2014). This might result in difficulty as if either of the company’s financial histories are not good then the business of partner company might deal with managing debts which continuing profitable business activities.

There are several advantages of implementing low cost option strategy within the target markets to launch a new product. Considering labour productivity, this strategy necessitates some services mentioned within fair price that needs less employees along with recruitment of new start-up management and employees in contrast to inherited management and employee structures within full service production plants (Slater, Mohr and Sengupta 2014). Through having few important skin care benefits and low price of “Rimmel match perfection foundation”, the consumers will be likely to purchase the new product that will further result in increased number of loyal consumers from different market segments (Boone and Kurtz 2013).

However, the company must be careful about the disadvantages of the low cost strategy as this might affect the profitable business operation and successful market entry of the company within a nation. A major factor that can be impacted through implementation of such strategy is the safety of new cosmetic product. The target consumers will hesitate to apply the “Rimmel match perfection foundation” on their skin if they perceive that safety of their skin can be at risk in search of their low price cosmetic product (Boone and Kurtz 2013). This issue resulted in negative publicity of the very low priced cosmetic products of MAC that contained certain harmful compositions such as rat droppings, lead and cyanide that resulted in skin burns and rashes along with causing several allergic reactions. This not only affected the profitable business of the company in China but also resulted in causing loss of loyal consumers for some time along with receiving bad media coverage that generating distrust among the target consumers of the nation (Slater, Mohr and Sengupta 2014).

The reason for which the companies can consider implementing global strategic partnership strategy for the reason that it offers access to the company’s resources that the company they did not acquire previously that cam include management, brands, technology, consumers along with the distribution systems. Through this strategy, the companies might also share risks in consideration to equity partnerships facilitating them for conducting operations that might be risky if carried out separately (Gruner, Homburg, and Lukas 2014). Specifically, global strategic partnerships can facilitate in broadening scope of business operations of a company without requiring dealing with increased expenses. This strategy can be advantageous for the companies as theory can be able to learn from one another and can generate advantageous competencies that can be employed in other nations globally.

However, the companies must be aware of the disadvantages of the global strategy. The drawbacks of employing this type of strategy is that this can result in lack of the autonomy from the businesses those are carrying out the business alliance for the reason that goes into partnerships indicates that considering the business partnerships indicates sharing power to a larger or higher extent with the partner company within the target nation. Another disadvantage can be that the companies can be involved in sharing the profits they attained from the partnership business that indicates there can result in perceived unfairness if none of the companies generates enough profits all through the year (Hallbäck and Gabrielsson 2013). While implementing the global partnership strategy, the companies must decide to negotiate the ways to share the profits made from the partnership businesses. However, accounting, transfer pricing and proportion can negatively affect the extent to which profit can be divided between both the partner companies.

The market in which the Rimmel Make-Up Company is intending to launch its product “Rimmel match perfection foundation” is Thailand. Considering the same, the global marketing strategy that the company intends to implement is through joint venture or global strategic alliance with a renowned cosmetic products company of Thailand (Gruner, Homburg and Lukas 2014). The company must enter into the Thailand market through joint venture with Aromarosa natural products. This can make sure of new product success of Rimmel Make-Up Company for the reason that the target consumers of this company along with Aromarosa natural products are similar (Majaro 2013). For instance, both the companies consider upper and middle classes as the target consumer segment. This consumer segment value punctuality and are streamlined along with beneficial products to its consumers. The major motives will be focused on efficiency in terms of acquiring profitable and new resources those are vital for gaining competitive advantages (Peng 2013).

Aromarosa natural products company is already positioned as a successful cosmetic company in Thailand that offers wide range of cosmetic products for the professional and student female consumer segments (Xu, Frankwick and Ramirez 2016). In alliance with this company, Rimmel Make-Up Company will participate with the marketing strategies of the company. Face book along with other social media channels must be used for the Thailand marketing campaigns focused on increasing consumer segments within Thailand geographic market segments. Through implementation of Ansoff Matrix it can be easier for Rimmel Make-Up Company to determine the future direction of the business (Hamel and Prahalad 2013). Moreover, Rimmel Make-Up Company must employ market segmentation for targeting the upper and middle class business target consumers because this will have strategic strength for targeting target consumers.

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