The paper “ Boost Juice Bar Company - Situational Analysis of Market Entry into the New International Market, Marketing Mix Strategies for Successful Outcomes“ is a comprehensive variant of case study on marketing. Marketing is an essential aspect for every business organization irrespective of size and area of operation. It is a management process through which products and services move from concept to consumer. It entails the coordination of the 4 Ps of marketing which are product, price, place and promotional strategy. To a great extent, the manner in which marketing is done by a given organization determines its success or failure level.
It should, therefore, be done appropriately. Boost Juice Bar Company is a renowned organization that was started in 2000 and deals with the production and sale of healthy juices and smoothies, which are free from colors, artificial flavors, and preservatives. Although it started in Adelaide Australia, it has since then spread throughout the county and in different nations globally, for instance, the United Kingdom, South Africa, Kuwait, and Singapore among others. Doing business in various parts of the globe has had its benefits as well as drawbacks for Boost Juice Bar Company (Allis, 2013, p. 112).
Currently, the company wants to expand into the China marketThis piece of paper gives a critical discussion of the concept of marketing and various issues associated with it. It will take the form of a case study whereby Boost Juice Bar Company will be evaluated with regard to its entry into China market. Some of the areas that will be highlighted include the situational analysis of market entry into the new international market and analysis of the market entry modes and one recommended mode of entry.
In addition, the application of effective marketing mix strategies for successful outcomes and the implementation strategies in the new marketplace will be addressed. Situational analysis of market entry into the new international marketAccording to Baker (2014, p. 56), entry into the new international market is not an easy thing and it is affected by various factors. When deciding to do business in a foreign market, it is advisable to carry out a situational analysis which in turn guides decision making as well as the development of marketing strategy.
It entails scanning the internal and external business environment with an aim of understanding the strategic constraints involved. It is imperative to grasp most aspects associated with the external environment, for instance, the legal, technological, cultural, economic as well as political aspects that characterize a given market. Laurence (2016) asserts that the rapid growth of the juice industry is witnessed in China. Nonetheless, the consumption of juice per capita is relatively low in China, especially when compared with other developed nations.
The industry has vast growth potential particularly as a result of the increased health awareness and development of living standards. Diluted juice dominates the market. This translates to the fact that Boost Juice Bar Company has the benefit of venturing into the market that is less saturated with healthy juices and smoothies, which fall in the (NFC) ‘ Not for Concentrate’ category. This means that they are almost of the same nutrition and flavor from fruits. The competitors in this category include Senmei and Lingdugoufang and with proper marketing strategies, Boost Juice Bar Company will be in a position to do quite well.
Allis, J., 2013. The Secrets of My Success: The Story of Boost Juice, Juicy Bits and All. New York: John Wiley & Sons.
Baker, M.J., 2014. Marketing strategy and management. Macmillan: Palgrave.
Chen, M.Y. and Chang, J.Y., 2011. The choice of foreign market entry mode: An analysis of the dynamic probit model. Economic Modelling, 28(1), pp.439-450.
Dikova, D. and Van Witteloostuijn, A., 2007. Foreign direct investment mode choice: entry and establishment modes in transition economies. Journal of International Business Studies, vol. 38 no. 6, pp.1013-1033.
Kotler, P., Keller, K.L., Manceau, D., and Hémonnet-Goujot, A., 2015. Marketing management (Vol. 14). Englewood Cliffs, NJ: Prentice-Hall.
Laurence. 2016. The Market of juice in China: Strategy is the Key. Daxue consulting. Retrieved from http://daxueconsulting.com/market-of-juice-in-china/
Moschetti, D., Schramm-Klein, H. and Swoboda, B., 2010. Decades of research on market entry modes: What do we really know about external antecedents of entry mode choice?. Journal of International Management, 16(1), pp.60-77.
Nath, P., Nachiappan, S. and Ramanathan, R., 2010. The impact of marketing capability, operations capability and diversification strategy on performance: A resource-based view. Industrial Marketing Management, 39(2), pp.317-329.
Pehrsson, A., 2008. Strategy antecedents of modes of entry into foreign markets. Journal of Business Research, vol. 61 no. 2, pp.132-140.
Slater, S.F., Hult, G.T.M. and Olson, E.M., 2010. Factors influencing the relative importance of marketing strategy creativity and marketing strategy implementation effectiveness. Industrial Marketing Management, 39(4), pp.551-559.
Varadarajan, R., 2010. Strategic marketing and marketing strategy: domain, definition, fundamental issues, and foundational premises. Journal of the Academy of Marketing Science, 38(2), pp.119-140.
Zahra, S.A., Abdelgawad, S.G. and Tsang, E.W., 2011. Emerging multinationals venturing into developed economies: Implications for learning, unlearning, and entrepreneurial capability. Journal of Management Inquiry, 20(3), pp.323-330.