Graze's International Market Expansion Strategy Assignment Sample

Introduction Of The International Marketing Management Assignment

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Group Mate Agreement

• The PPT has been prepared by 3 groups of friends of the university and they all agreed to work with this project united.
• The presentation has been done after evaluating the international market ring and DTC strategy of the company, Graze.

Group Log Detailing

• The presentation has been prepared within 4 weeks by groups of 3 friends.
• The internal market trends, customer demands, and marketing strategies are evaluated and analyzed before preparing the projects based on the Graze business expansion in the European markets.

Individual Contribution

• As a student of management and business studies I have successfully completed the presentation after gathering authentic information regarding Graze’s business development plan and business expansion strategy in internal markets.
• I have tried to create the project with full dedication and fulfilled all criteria of a teamwork.

• Graze is the leading healthy snack brand in the world operating its business across potential markets and has successfully established nearly 5,000 online shops across the globe (Tien et al. 2019).
• Recently the brand has taken the initiative of expanding its business on both retail and DTC in the international market.
• The major DTC strategy that the company has included a “multichannel or pure play”, direct to consumers model for business expansion, performance marketing, and delivering through the latest technologies (Gnizy, 2019).

Graze has taken the initiative of understanding the details of the “Life Time Value” (LTV) of a large group of customers at both national and international markets free Sample for students. Assignment sample the performance marketing team of Grzae by combing the information on “LTV and CAC” able to calculate the ratio of both that results in the core metric of the “direct-to-consumer” business. Graze has its own system of in-house and has chosen to rely on media agencies to penetrate new market segments of international markets.

Strategy for International Market Expansion

• The strategy of expansion in the International Market includes “multiple-level strategic plans” that are used for the development of the services and products of the company.
• The strategic elements that Grzae can select for easy business expansion in the European markets include market research, PESTLE analysis of the target country, competitor analysis, and marketing strategies (Katsikeas et al. 2019).
• Consideration of compliance issues and legal norms and framework of the target market.
• Collaborating with a global retail and DTC agency for the promotion of products and services (Lee et al. 2019).

International expansion strategies can be followed by Graze for business expansion in European markets, becoming profitable, and establishing its brand value. The growth of the brand becomes more sustainable and planned with an effective global expansion business strategy. The strategy also includes migration, expansion risks, efficient resource usage, reduction of over cost, and timelines. The brand must select the correct global partner, adopt the thinking that is proactive and lean approach, and create detailed steady for its services and products to expand the business in international markets.

Screening Potential Markets

• Screening is the proper evaluation of the target market where the company want to start or expand its business according to its compatibility with overall business objectives and competencies.
• The major criteria for screening the potential international markets include the identification of the potential market of each country.
• Screening can be done by examining the trends of the products and market demand at the international level (Rana et al. 2020).
• Screening of competitors in the target market and analysing the marketing factors properly.
• Identification of the marketing risk, incentives, and barriers in the targeted international markets (Morgan et al. 2018).

The major aims of this screening of the potential market can help Graze to understand and analyse the market trends and customers’ demands of the countries where it wants to expand its business. The terms that can be used to describe the screening procedures include “case-finding, multiphasic screening, prescriptive screening, mass screening, opportunistic screening and targeted screening”.

Evaluation of Target Market Selection

• The selection of the target market includes the evaluation of market attractiveness, product demands in the market segments, and the selection of profitable markets (Dykha et al. 2021).
• The size and growth of a specific market segment of a particular country can be considered for business expansion and promotion of the company’s business and products (Ibeh et al. 2019).

The former CEO, Anthony Fletcher of Graze has selected some major countries for expanding its business of serving people healthy snacks.

• The marketers of Graze must evaluate the customer's demands and the competitive environment of the international market and the country's culture before expanding its business.
• The countries that have been selected by Graze for business expansion include as listed below.

1. Austria, 2. Germany, 3. France, 4. Netherlands, 5. Sweden, 6. Switzerland, 7. Spain, 8. Denmark

The company has decided to penetrate thier marketing practices and promote their products and services to both online and offline retail and DTC stores in the European Market.

Comparison between Screening Criteria

The two countries like germany and Netherlands are

International Marketing Models, Theories, Tools

• The marketing models that can help Graze to expand its business in the internal markets is the marketing mix (Paul et al. 2019).
• The marketing mix includes the identification of the product demand in the target market, customers’ expectation criteria, promotional aspects, and places where the products can be introduced.

Other effective tools include communications or collaboration with global hiring agencies and inbound and outbound marketing. The effective tools and theories of international marketing will provide the company with the benefit of enhancing the value of its business across the target countries.

• The tools that can help the company to enhance its value in international marketing include product demand research, marketing infrastructure, product localization, and marketing localization (Amankwah-Amoah et al. 2018).
• The theories the company can choose for its business expansion in internal markets are the theory of “competitive advantage and mercantilism”.

This will allow Graze to increase its annual business revenue, penetrating new target market segments, profitability, and productivity rates. This will also allow the company to strengthen its customers’ base and maintain loyalty and good relationships with its customers across the world.

Conclusion

• Graze can successfully build on its “international market expansion” strategy through the adoption of a lean approach, proactive thinking and collaborating with global hiring agencies (DTC and retail sectors).
• The major screening criteria that Graze has selected to expand its business in international markets include market competition, market diversification, and GDP growth.
• Other criteria include country risks associated with marketing, political and cultural factors, and possible operational difficulties.
• The countries that are on the topmost list where the company can expand its business to enhance its business value and profitability include “Germany and Netherlands”.

The aims of this screening of the potential market can help Graze to understand and analyse the market trends and customers’ demands of the countries where it wants to expand its business. The terms that can be used to describe the screening procedures include “case-finding, multiphasic screening, prescriptive screening, mass screening, opportunistic screening and targeted screening”.

Frequently Asked Questions (FAQs)

Q1. What decisions Graze can take for successful business expansion in the European markets?

Several vital decisions can help Graze enhance its business value, strengthen its customer base, enhance profitability and penetrate new market segments across the globe. The major decisions taken for the company’s business expansion in international markets include the evaluation of the international marketing mix and the culture of the market. Other decisions include regulatory and legal barriers and local governmental norms. Legal guidelines are associated with the marketing and selling of expected services and products.

Q2. How Graze can succeed in international markets with its products?

In countries like Germany and Netherlands Graze can appeal its brand to all residential cultures. This will helps the company to show openness to all local marketing strategies of the targeted countries and to achieve “higher returns on investment”.

References

Journals

Amankwah-Amoah, J., Boso, N. and Debrah, Y.A., 2018. Africa rising in an emerging world: An international marketing perspective. International Marketing Review.

Dykha, M., Ustik, T., Krasovska, O., Pilevych, D., Shatska, Z. and Iankovets, T., 2021. Marketing Tools for the Development and Enhance the Efficiency of E-Commerce in the Context of Digitalization. Studies of Applied Economics, 39(5).

Gnizy, I., 2019. The role of inter-firm dispersion of international marketing capabilities in marketing strategy and business outcomes. Journal of Business Research, 105, pp.214-226.

Ibeh, K., Crick, D. and Etemad, H., 2019. International marketing knowledge and international entrepreneurship in the contemporary multi speed global economy. International Marketing Review.

Katsikeas, C., Leonidou, L. and Zeriti, A., 2019. Revisiting international marketing strategy in a digital era: Opportunities, challenges, and research directions. International Marketing Review.

Lee, H.S. and Griffith, D.A., 2019. The balancing of country-based interaction orientation and marketing strategy implementation adaptation/standardization for profit growth in multinational corporations. Journal of International Marketing, 27(2), pp.22-37.

Morgan, N.A., Feng, H. and Whitler, K.A., 2018. Marketing capabilities in international marketing. Journal of International Marketing, 26(1), pp.61-95.

Paul, J. and Rosado-Serrano, A., 2019. Gradual internationalization vs born-global/international new venture models: a review and research agenda. International Marketing Review.

Rana, S., Prashar, S., Barai, M.K. and Hamid, A.B.A., 2020. Determinants of international marketing strategy for emerging market multinationals. International Journal of Emerging Markets, 16(2), pp.154-178.

Tien, N.H., Phu, P.P. and Chi, D.T.P., 2019. The role of international marketing in international business strategy. International journal of research in marketing management and sales, 1(2), pp.134-138.

Poulis, K., 2020. Punctuated epistemology in international marketing strategy: A Whiteheadian remedy. Marketing Theory, 20(3), pp.363-384.