Business, 31.10.2019 04:31 kelsea86

Once a firm is committed to an international expansion, it must decide where it wants to go. the venture capitalists present caffè gustoso's owners with three countries in which they see expansion potential: turkey, australia, and china. there are a number of factors to consider in global market analysis including economic, political-legal, competitive, and cultural factors. key data for each of the three finalist countries are provided to caffè gustoso's owners and you. that afternoon, you meet with the owners privately to discuss the data you received. which of the factors analyzed do you think will most affect the success or failure of the coffee shops?

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in my opinion, the factors that will most influence the success or failure of the coffee shop are economic factors, competitive factors, and cultural factors. Because every country has different economic, cultural and competitive conditions. So the cafe owner must adjust these three factors to the intended target market.

Further Explanation

The marketing strategy is marketing logic and based on that, the business unit is expected to achieve its marketing goals. The marketing strategy consists of making decisions about the marketing costs of the company, marketing mix, and marketing allocation. Marketing strategies can be stated as the basis of actions that lead to marketing activities or businesses, of a company, in conditions of competition and an ever-changing environment to achieve the expected goals. A marketing strategy is a fundamental tool planned to reach the company by developing a sustainable competitive advantage through the markets entered and marketing programs used to serve the target market.

A target market could be a group of consumers who are targeted by the company's approach to purchasing the merchandise being sold. In short, the target market is the group that will be served as consumers. The target market usually incorporates a vulnerable age, nature, and character are almost identical.

Benefits of a Target Market

Below are some of the benefits of the target market, namely:

Make it easy to adjust the product and marketing mix strategy that is carried out with the target market. Developing product positions and marketing mix strategies (marketing mix). By identifying the parts of the market that can be effectively served, the company can be in a better position. Anticipating competition. Make use of limited company resources efficiently and effectively. Target broader market opportunities. Place marketing ideas more clearly Manage products better. Find and compare market opportunities. Classifying the budget that is owned appropriately. Creating attraction in the marketing field. The company will be in a better position.

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definition of The marketing strategy

definition of A target market

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Grade: College

Subject: Business

keywords: The marketing strategy

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