The paper "International Environmental Factors of Penfold Wine" is an outstanding example of a marketing case study. Penford Wines Company is among the oldest wine producers in Australia. Initially handled as a private business, the company has since developed and expanded its business horizons. Through a long period, the company has set up different strategies to accommodate all its customers’ tastes, which indeed has led to the production of Australia’ s most famous wine named Grange. An export plan preparation is key and fundamental for any business first step being targeting the international markets (Czinkota, 2011). It is essential to determine through assessment, whether the company exporting capability is profitable or not.
According to Czinkota (2011), this ensures that the venture will remain profitable and sustainable to the business at long-run. List of what the firm needs to achieve through the export decision, identify activities and measure the progress, create a better understanding of the market and the whole process of exporting but will also help the management remain focused on goals to be met. It is easy for management to get into exporting since other companies have or simply they were approached by several oversea customers, this will serve as part of the reactive exporting which is healthy for the business returns in form of sustainability and profits (Kotler, 2007). According to Czinkota (2011), the right choice of the market when planning for export trade has proved to be an involving decision.
Several markets will be listed the management has a chance to narrow down the broad list of possible market and come up with one that will suit their needs. The marketing team has to analyze branding of the products, there cases where export products have to be designed to suit the global market or some cases the products only target the local domestic consumers, all these options have to be considered.
Initially, managers can choose to work with agents and distributors, the strategy can help in the short-run period while the management plans for the long-term strategies. This can include having more direct control of the market through direct selling, promotion or even seeking alliances or agreements. Seeking proper ways of identifying the required market standards, as the market might not base on price alone as quality will help the product adapt through tough competition. The venture internationally can be successful if the management remains proactively involved and get their market research right.
Market concerns to do with competitors, getting the strength, weakness, opportunity and threat involved in doing the export business. Well researched and accurate information will safeguard and even improve the viability of the venture, more planning concerns will bring in objectives to be handled and schedule a timeline for achieving these targets. Develop a SWOT Analysis for the Export Market The Penford company management has to design a simple analysis showing the business strength, weakness, opportunity and threats when exploring the new market in China.
The analysis information collected is useful for strategic planning both short term and long term. This will see the management draw attention to areas that need to be addressed, concerning weakness and threats to the venture. Moreover, the firm has strengths which can help the company explore further development newly established in China. The management should be concerned about how the products ranges, market share, staff and management skills and the production ability that will see the customer market targeted being satisfied.
Plans on attracting massive satisfactions of the market share should be prioritized (Rodrigues, 2010).
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