Marketing Plan 1 Foreign market entry modes can differentiate in the degree of risk they present, the control and commitment of resources they require and the return on investment they promise (McDonald, Burton, Dowling, 2002). There are two major types of entry modes: equity and non-equity modes. The non-equity modes include; export and contractual agreements. The equity modes category includes: joint venture and wholly owned subsidiaries (Peng, 2008). My company, The International Retreat Professionals (IRP) is an event planning company that caters to companies outside of the United States. IRP will offer two types of services; training services as well as product launching event planning. The retreat training services will focus on leadership development and team skills training, because they are big factors to having a successful business. For both types of retreats, IRP will take care of hosting the event, as well as providing the training through the use of one of IRP's respected business partners. IRP is a start up business that needs work just like any other new business. The key strengths of my business are the highly trained and enthusiastic employees. Another strength that my company possesses is the specialized service offerings such as, the provided training with the retreat. One weakness in my company would be the inability to meet large, unexpected increases in demand at a fast pace. When my company expands I will have the leisure to reach different ventures at once. Another weakness in my company is the awareness of my services being presented to many companies. Although my company may possess weaknesses, the opportunities that may arise from this company are greater. The opportunities that my company may fa... ... middle of paper ... ...s will be important because a large amount of business gets introduced to potential clients. Forming different relationships at the networking events will help my company’s name get out there and form potential clients. The IRP Company is designed to treat the corporate world in a high class manner with affordable options to choose from. The global range of my company will attract many people near and far and keep the competition guessing what makes our company’s continued success to grow. References Blank, S. (2013), Why the Lean Start-Up Changes Everything, Harvard Business Review, Retrieved from http://hbr.org/2013/05/why-the-lean-start-up-changes-everything McDonald, F.; Burton, F.; Dowling, P. (2002), International Business, Cengage Learning EMEA, ISBN 978-1-86152-452-2 Peng, W. Mike., (2008) Global Business. Cengage Learning, ISBN 0-324-36073-8
... look out for high profile contacts and good image building activities especially due to the on going outsourcing concern. As community theatre boards include executive level staff these consulting companies could get high visibility and a sophisticated image by pairing up with something as ?cultured? as theatre. These companies can be requested by the boards of community theaters to sponsor the building and maintenance of the theatre websites in exchange for good PR and contacts.
The company hosted twelve events in twelve different cities, which drew in almost a thousand individuals to their events. Their partners and employees, approximately 300 nationwide, were there staffing the events and also provided advice on a broad spectrum of topics
The company has self organizing team and use groupware, emails and blogs to communicate with the customers.
Joe operates a successful commercial landscaping and tree trimming business, and client's keeps his operation extremely busy. Although Joe employees at least 50 workers, with landscaping being seasonal, he experiences a high turnover. In addition to landscaping and tree trimming, equipment rental is also available to the clients, which adds an additional division to the business. With $250,000 of capital, and past year's revenues of $500,000, Joe is looking for guidance to take his business to the next level.
According to Keillor (2011), partnership entry strategy occurs when two or more firms join their operations be it marketing or management, while still maintaining their independence (p. 93). This form of entry strategy is considered good for companies that are venturing into countries that have a distinct culture from the one they are used to operating. When venturing into Egypt Sainsbury’s formed an alliance with The Edge, one of Egypt’s best supermarket with good management, an elaborate distribution network and strong links with the government (Sebora et al. 2014, p. 6). The result of this partnership has been that the supermarket has managed to flood its facility with consumers and some retail stores have been closed due to high competition (Sebora et al. 2014, p.
So, furthermore, it is quite easy to enter and exit the market however, brand loyalty can influence how well your event planning does in the industry. Thus, consumers tend to look at the level of knowledge, expertise, and experience many event planning businesses entails in order to differentiate one from other competitors. Therefore, you tend to see that many consumers generally base their decisions and choices on if they have utilized the services previously, does the company have a great reputation, is the company known for exceptional services and events, and does other consumers speak highly about the business. All these factors contribute to how well a company excels over its competitors in the market. Moreover, these attributes and qualities brings forth and bridge brand loyalty among its consumers and potential consumers looking for quality services and companies within the event planning business and causes many event planning businesses to stand out and reign supreme over others. All the more making it harder for other incoming event planning business to excel due to others in the industry have the upper hand when it comes to knowledge and expertise according to many
The ease with which firms can enter into a new market or industry is a critical variable in the strategic management process. In some industries the barriers to entry are minimal. In oth...
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
The members have been generating client bases in their own related businesses since 1999, previously, the members enjoyed mild success in their own businesses, and have been limited only by capital and available time.
While their domestic figures were rosy, the international operations were losing ground. The once profitable Japanese market was declining, and the European and Middle Eastern ventures failed to gain momentum. Unfortunately, the U.S. market was experiencing saturation and the only way to grow seemed to be the overseas markets. They achieved entry through the use of wholly owned subsidiaries, licensing deals, or joint ventures.
The Lean Startup method is a scientific approach to makes startups fast respondent to customers wants and needs. Throgh Lean startup method entrepereneurs know managing startups effectively in many aspects and also the time to pivot
Moore, G. A. (2004, Jul/Aug). Darwin and the Demon: Innovating Within Established Enterprises. Harvard Business Review, 82(7/8), pp. 86; pp. 7.
Overall viewing this company from an outside perspective they are a very highly profitable company but also know the values and programs that need to be placed in order to stay successful. Having a regular scheduled training base, programs will help keep the employees refreshed, knowledgeable and room to grow within their job position.
The modern customer wants much more than a pitch when making purchase decisions or evaluating solutions. Events offer a unique opportunity for them to interact with brands to get the best sense of a company’s focus, personality and perspective.
From business conferences to weddings, there are events going on all around us, and where there are events there are event planners constructing it, putting it all together, while making everything run effectively. Event planning is always unpredictable and you need to be always ready for any problematic situation that may occur. When starting out there is a great chance that problems will occur that one will not prepared to face, but this is all a part of the improvement process. These situations should be looked at as a learning experience and should give you some ideas of how to improve one’s event planning skills and one’s own business. Because of all the hospitality, craziness, and personal gratification, I have chosen to become an event planner.