MARKETING PLAN FOR SKAGEN DESIGN Essay Example | Topics and Well Written Essays - 4000 words

MARKETING intent FOR SKAGEN DESIGN - Essay Example initiation Modes for International Marketing9Export-based Entry Mode11Contractual Entry Modes11Foreign Direct Investment12 interchangeable Venture as suppress mode for Skagen origination to enter China13Why knock Venture for Skagen formula?13Marketing Objectives of Skagen Design14Product Mix16 hurt mix16Place mix16Promotion Mix17STP outline of Skagen Design17Segmentation strategy of Skagen Design17Targeting Strategy of Skagen Design18 situation Strategy of Skagen Design18Conclusion18References19Introduction3Skagen Design Company Overview3 synopsis of Internal and External Environments5SWOT analysis5Strengths and Opportunities6Weaknesses and Threats6Market woof for Skagen Design7China and Business opportunities7Entry Modes for International Marketing9Export-based Entry Mode11Contractual Entry Modes11Foreign Direct Investment12Joint Venture as appropriate mode for Skagen Design to enter China13Why Joint Venture for Skagen Design ?13Marketing Objectives of Skagen Design14Product Mix16Price mix16Place mix16Promotion Mix17STP strategy of Skagen Design17Segmentation strategy of Skagen Design17Targeting Strategy of Skagen Design18Positioning Strategy of Skagen Design18Conclusion18References19Introduction In todays militant business environment, marketers are required to develop certain strategies to help them achieve sustainable competitive advantage. Out of various merchandising strategies, going global is one of the most effective strategies as it not only widens the market emf but also help the firm seize more marketing opportunities. A marketer is one who designs and creates benefit or utility that deliver the want or need-satisfying antecedent to the customers (Boone and Kurtz, 2009, p. 5). In a global marketing perspective, marketers are to identify its customers, research in to their requirements and develop products or services accordingly so as to market them globally. This piece of research paper pr esents an international marketing project for Skagen Design to help the management team in deciding about the best appropriate entry mode to launch its business in China. The report presents a detailed marketing inspect of Skagen Design and investigates marketing objectives and better marketing strategies for the company in relation to its international marketing plan to China. Skagen Design Company Overview Skagen design, started as a small business upstart in 1989 in Denmark, has at once emerged to be a victorious multinational company designing, making and marketing stylish Danish intentional watches, sun glasses, jewels and related accessories (Zacks Equity Research, 2012). Its co-founders Henrik and Charlotte Jorst came to USA to start their own business in 1989 by developing the idea of a business opportunity from the Danish lifestyle and philosophy and started their business by marketing well designed watches and other accessories (Skagen, 2012). This illuminates an examp le of how effectively a business dream displace be converted to reality by exploring newer business opportunities and marketing newer ideas. As Crane (2009, p. 3) noted, a successful entrepreneur starts thinking creatively from finding a hidden marketing opportunity and develops his marketing by identifying customers specific requirements and by developing products accordingly. Henrik and Charlotte Jorst developed the business idea based on the marketing potential for supreme quality watches made in Danish spirit, elegant design, skillful craftsmanship, perfect technology and so on. With its mission to create a Skagen Global Community ingrained with a commitment to design cogent and unique products and to offer high valued customer services, the company has long been able to generate a positive zeal among its customers. As of very recent report, Fossil Inc is proposing to purchase Skagen Design for a check value of $236 million including 150,000 shares in Fossil Inc (Zacks Equity Research, 2012). Skagen Design ltd is manufacturing and marketing watches, sun glasses and jewels for some(prenominal) men and women offering its products and services through third party retailers as well as online stores. apart from administrative offices and manufacturing plants situated in Nevada, it operates stores in Tokyo, Nagoya, Japan, Taiwan and markets it products to various countries such as Singapore, Malaysia,