NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
Robust marketing strategy for international expansion along with spreading awareness about the real company behind the product they are consuming
Submission Date & Time: 2021-11-21 11:35:39
Event Name: NMO S4 Sprint One
Solution Submitted By: Karishma Parchwani
Assignment Taken
Develop a marketing strategy to tap into a fast expanding marketCase Understanding
Company will have to face many challenges in order to tap into international market It is trying to capture the market where its products are already sold by prominent sellers who have established their market While exporting is an optimal strategy, it comes with its own constraints. lack of product modification makes the company’s marketing strategy inflexible and unresponsive. Persuading the restaurant owners to buy from them will also be a challengeBCS Solution Summary
We will first try and get patent rights for our product and then indulge in over the top marketing. We will tie up with supermarkets and personally go for sales promotion in big restaurants who can be our potential customers. As this is the era of digitization, we won’t leave that stone unturned either. We will make a robust plan for our go-to-market strategy by online promotion, website creation, digital campaigns, blogging and influencer marketing.Solution
In order to devise a marketing strategy for international expansion, we need to conduct market research. For that, we need to first understand the preferences of our consumer base by Emailing survey questionnaires. The important points to be kept in mind is maintaining Linguistic Equivalence and Experiential Equivalence. Thereafter, by performing STP analysis, we will be able to define our audience and their product preference.
PROMOTIONAL STRATEGY: While designing promotional campaigns (both online and offline), word phrases should be defined in a manner that doesn’t hurt the cultural sentiments of people there.
Conclusion
Revenue of 10 crore will support our robust campaigning for a few months until we start generating profits. We will choose the hybrid model of ATL and BTL marketing. By creating a buzz, we can tap the minds of consumers and create public relations which will welcome us into their market. Later, if we get successful, we can increase our product line, keeping in mind the offerings of our competitors.Attached File Details
Comments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Type: Case Study
Stream: Management
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