Discuss about the Manage International Marketing Programs.
1. As per Fawcett et al. (2014), Supply Chain Management is the procedure through which an organization maximizes its customer value by increasing the competitive advantages by streamlining the supply chain activities of the organization. Amway is a company shares a curious relationship with the international business owners of the company because they engage their sellers in direct selling processes. This form of selling permits each owners of the business to concentrate on individual consumer needs. The consumers do not have to visit shops to buy the products because the sellers deliver the product directly to the consumers. Amway manufactures their brand and product so they distribute their products directly to the customers that are why their supply chain is unique. In traditional supply chain raw materials is supplied to the manufacturer and then to the retailer and finally to the consumers. However, Amway on the other hand encourages their sellers to apply direct selling approach.
2. Amway provides their business owners with the flexibility to work from anywhere and anytime they want. They can approach their acquaintances or people they know or have met and sale their products to any one they want to. They personally contact their customers and provide individual attention to them that is a significant element of the service furnished by the company. In order to supply super first and efficient service to the customer they need the ready access to a proficient supply chain (Lee, Tai and Sheen 2013). Increasing use of the internet has created real potential for businesses to develop innovative types of business models so that they can deliver quick service to the customers by delivering the products to their homes. Amway was well placed to make such a move because the people of UK and Europe uses internet intensively (Monczka et al. 2015). Amway takes orders from the customers and directly supply the product to customers. This way they can work according to convenience of the customers.
3. The people of UK and Europe have increased their use of internet. Extended use of internet has helped Amway in expanding their business and developing different kind of business models (Tayur et al. 2012). Amway developed e-commerce opportunities that would offer 24 hour for 7 days service to the customer. Having received supporting merchandising materials, literature and training so that they know the best way to promote the features and benefits of Amway product, IBO’s order the product direct from Amway having taken an order from their customer. This way Amway meets customer preferences. The organization has merchandises in their stock so that the IBO’s can order the supplies from their site after taking order from the customers. There are more than 3.3 million distributors in more than 80 countries and territories and with own branded products ranging from Artistry. They have faced a huge challenge in providing customers with products in right time, in the right place and in right condition. Finally, Amway made a strategic decision to make their logistic chain more efficient. Amway grouped countries together wherever possible to link parts of the business in a way that would serve customer needs.
4. Amway knows that the independent business owners are entrepreneurial individuals who want to sell quality products to the people they know or meet. Most also fall in ABC ½ categories of social economic group. Research revealed that many IBO’s felt they needed more support for their selling activities (Bamborough et al. 2014). In particular, they wanted quick, secure access to more accurate, up to date information that related specifically to them. Amway understood that well constructed, well thought out internet option is the way to fulfill the needs of the customer and the entrepreneurs.
Mt. Romance is the world’s leading sandal wood industry. It is situated on the west Australia, is listed on the American Securities Exchange, and currently manages over 5,000 hectares sandalwood plantation. Marketing research is the scrutinizing of marketable aspects of a company in the global market. A fortifying business plan needs analyzing and evaluating of the customer demographics, buying habits and tendency of acceptability of new product and service (Samli 2013). The process of evaluating starts with answering to certain questions. As an International, marketing manager needs to understand the market in which the company wants to do business. The potentiality of the industry is deduced by evaluating the market where the company wants to set up their market (Stark 2015). Mt. romance is a sandalwood cosmetic factory, ayurvedic and natural products are gaining great market opportunities, as most of the people across the world are favoring natural products over products that content chemical. Mt. Romance needs to assess the demographics of the market in order to choose target customers. The products that are manufactures under the label of Mt. Romance are cosmetics so the company should mainly focus on female consumers and prioritize their need and expectations from the product.
Products of Mt. Romance
Mt. Romance manufactures wide range of products that are based on sandalwood oil. Sandalwood oil is the prime element that makes the product so unique. Every product the company produces is herbal and that is why the company has remarkable progress in global market. Mt. Romance is slowly gaining popularity because they use distilled sandalwood oil that is good for skin and health. Their products like Sandalwood soy candles, beauty enhancement products like lipstick and products for aromatherapy can make great success in the global market.
Mt. romance can launch their product in any part of the world as they have variety is product. However, it is significant for an international marketer to choose the target market wisely. Success of the company depends on how well the marketer has scrutinized the market before launching the product.
As per the research, in United States there were 46.2 percentages of sales of lipstick according to the global cosmetics market in 2014. The market of lipstick was worth $7.15 billion in 2014 and it is about to increase by 3.59 percentage of CAGR during 2015-2019. So it is evident that it will be effective for Mt. Romance to launch their product in United States as it is a developed country and the according to the income standards of the people of the country, the company will gain profit beyond expectation. Malaysia is a country that has centers and resorts that provides a wide range of treatments and therapeutic treatments. Mt. Romance can launch their aromatherapy products in Malaysia. The International marketer needs to analyze the target market so that they can know about the preferences of the consumer and launch their label according to their needs. Canada has market demand for scented candles and last year around Canada generated around $2.3 billion dollars by selling aromatic candles. The researchers say that the sales of aromatic candles have risen by 14 percent since 2011 (Gold 2013) . This is the reason the international marketer should consider this countries to launch their products.
Mt. romance is a company that manufactures products that are made of Sandalwood oil. Their products are very famous in Australia as they are herbal and are made of natural elements that have health benefits. While marketing, the primary component is the ‘product’. The company needs to plan and implement strategy in order to construct the market profile of the product. According to Firat et al. (2014), Market segmentation, product research, demographic evaluation and product development procedure are the activities that planning comprises. Branding is essential as it gives the product the public profile and assists discerning its value. Mt. Romance is a reputed brand and it has great market scope as it has right properties of marketing mix. Mt. romance has sandal wood factory where the products are manufactured. They have tour facilities that give an insight to the history of the industry. They hosts website and very much associated with Social writing. They import tones of sandalwood oil to Europe and Asia every year. The cosmetics, fragrances and healthcare products of Mt. Romance have great prospect in global market. The products meet consumer demand and the prices of the products are reasonable. The company promotes the product by advertising and offers discount coupons on the products.
Key performance indicator:
Mt. romance is the company that is rapidly climbing the sales market. The international marketer needs to assess the market carefully. The performance level of the company should be deduced in order to understand the position of the company in order to specify the goal of the company (Warner et al. 2013). The goal should be set considering the revenue target of the company. A company that has sufficient financial back up to complete their financial obligation for 12 months period is a healthy company. Sales growth metric is 20 percent this year but the company is trying raise its sales to 50 percent. Mt. Romance needs to gain market demand for its health products.
Product and Promotion adaptation:
Social media and new media: Mt. Romance promotes loyalty that they provide to the customer. The company has its website where they have updates about their latest products. According to Nikseresht et al. (2015), The Company should engage in blog writing and content writing about the product.
Non-Media Promotion: The Company needs to put up hoardings in different places about their products.
Segmentation: Mt. Romance is selling sandalwood products. The company should segment the market according to the preference of the consumer.
Operational Market structure:
Online marketing will be fruitful for this company because the company wants to flourish internationally and to fulfill the demand of the customers. According to Gold (2013), online marketing is the best way to market a product.
Marketing objectives are the techniques that an organization utilizes in order to promote a product or service to the customers who are eligible to buy (Svensson 2015). Mt. Romance is an Australian company that manufactures product of sandalwood oil.
- The objective of the company is to increase the profitability of the distributors.
- Romance want to increase customer satisfaction by supplying them quality product and side by side increase revenue of the company
- The company wants to promote products that are unique and chose different target market for different product. For example after assessing the sales report of past 3-4 years they have seen launching aromatic products in Malaysia will help them gain market position in that place.
KPI is the tool that is used to measure the effectiveness of a business procedure at achieving the key business goals (Taylor 2013). Mt. Romance is an organization that has gained fame for their sandalwood products. The organization is commanding the world market with their sandalwood product. They have great local demand. There is information they make huge extraction of sandalwood oil and they encourage promotion of sandalwood industry with the assistance of information flow. Mt. Romance uses technology so that they can improvise the products and generate high productivity. There is robust demand for the products because they are prestigious and there are innumerable consumers who are capable of bearing such high cost. Mt. Romance is the leading grower of sandalwood and produces products from sandalwood oils. Qualitative and quantitative assessment is necessary to set goals. They need to investigate the variances and modifying resources to achieve the short-term goals. Pricing policy needs to be checked according to the target market. Constant revenue growth is necessary so that they can be victorious in both long term and short-term goals.
International marketer professionals seek solution and recommend the organization the best way of promoting a product. The international marketer scrutinizes the culture, tradition and mannerism of other countries because it is necessary to get familiar with those in order to launch the products successfully.
An overview of the marketing objectives:
The marketing objective of Mt. Romance is to increase its sales from 40% to 50%. Mt. Romance needs to create brand awareness among the target markets. Mt. Romance wants to launch their product in international countries like Malaysia, Canada and US. The market culture of the three countries are different that is why international marketer also have to think about strategy to enhance the bond with the customers.
Mt. Romance wants to create international market place for their products. Malaysia provides extensive spa services; Mt. Romance can launch their aromatic product. Canadian market has demand for scented candles Mt. Romance can open their candle business there. United State is highest in lipstick selling, Mt. romance can do launch their range of lipstick in US.
Key economic, social/ or political trends in the target market
Malaysia is a multicultural country and they are socially receptive. Political condition is stable in Malaysia that is why business culture is flourishing in their country. People of the Malaysia visit spa frequently. That is why aromatic products of Mt. Romance can gain great market attention in Malaysia.
Strength and weakness of International marketing
By international marketing, Mt. Romance can expand their market internationally and boost the value of their brand. International marketing also helps in increasing sales of the company (Fletcher and Crawford 2013). Sometimes the political condition of the country where the company wants to do business affects the business venture.
Key Stakeholders and their roles and responsibilities
Givaudan signed up an agreement to indulge into partnership business with Mt. Romance. The role of the stakeholder is to supply good practice and liable sourcing for Mt. Romance. The stakeholder is funding the company so that they can provide equipments for the harvesters that support environmental friendly harvesting methods. The investors and member of the boards should jointly take the major corporate decisions.
Internal Communication strategy
- Business partners should strategically plan their goals according to the priority of the company goals (Welch 2015).
- The business partners should communicate with the employees and elucidate them about the organizational goals.
Key results/success areas and priorities
- The key area should be clear, specific, and most importantly well measured.
- Prospecting is a significant. For example, Salesperson can find and contact potential customers to sale their products.
- Building trust, rapport with the target market so that they learn about the product and service the company provides (Moreno-Vozmediano, Montero and Llorente, 2013).
If Mt. Romance concentrates on the key areas, they can promote their products in international market successfully. The company can increase their sustainability rate by implementing flexibility and meeting customer expectation.
Management support and resources
The manager should provide both intrinsic and extrinsic motivation to the employees so that they can increase productivity. Mt. Romance has a supportive work culture and employees thrive in their work environment.
Financial viability of international marketing activities
Mt. Romance has a stable financial condition that is why they can operate long-term goals and fulfill objectives under any condition. According to Kobayakawa and Kandpal (2014), financial viability is important to conquer long-term goals.
Risk management strategy to manage contingencies
According to Bessis and O'Kelly (2015), a company should have an effective contingency planning to recover from major disaster. The company has effective software to store data about customers and suppliers. The management of Mt. Romance plans budget before promoting the products of the company so that they can utilize their resources effectively.
Product pricing and distribution policies
The price of the products pricing is done reflecting on the income structure of the consumers of the country (Simons 2013). Product selling procedure should be made based on Australian government consumer protection law.
Progress monitoring mechanism, including software
Stakeholder needs to monitor effectively the planning and manufacturing activities. Reviewing is the procedures through which operational issues are focused. Mt. romance has a efficient team and group of stakeholders who regularly check on this matters.
Performance analysis and evaluation
According to Azzopardi and Nash (2013), Marketer is responsible for analyzing the performance of the employees that helps the employers to assess their contribution towards the organization.
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