The paper "Marketing Strategy of Vermont Teddy Bear" is an outstanding example of a research paper on marketing. In the engagements of any business the marketing aspect is vital. This is the basis of how the products produced by the company or firm will be introduced in the new environment. The marketing of the products will entail the making of a way for the new products to be introduced in a new market that is either with or without similar products. This requires the involvement and utilization of specific marketing strategies that are aimed at the successful recognition and acceptance of the new products.
Since its inception in 1981, Vermont Teddy Bear has not ventured into the international business. The firm will have to follow five stages in their internationalization marketing strategy process. To begin with, the firm will have to perform domestic marketing which involves the marketing of the needs of the other country (Javalgi & White, 2002). Based on the four principles of domestic marketing, the firm will have difficulties in internationalizing its business activities through a promotion that is based on knowledge.
The firm will have to promote and market their products based on the ethically socially accepted and designed strategies according to the guidelines of the target country. Despite this, the firm will have to ensure that the marketing messages and strategies are able to have a competitive advantage and focused on the product at hand while paying attention to the advertising guidelines of the target country. The marketing strategy will have to be evocative to the target audience. The firm will face challenges in the building of loyalty among the target audience as it will have to ensure that its products do not wear out on fashion by ensuring that the branding system will build a magnetic loyalty (Jeannet & Hennessey, 2004). The firm will ensure that periodic consumer behavior is assessed to identify which brand has more loyalty and the reasons behind it.
The firm will also have to strategically analyze the effect of the class system to the firm’ s products if they do exist in the target country. This will include the economic status of the target community and spending behavior.
The analysis will be able to determine the demand trend of their products. The laws in regard to the environment and recycling have to be followed. This will include the adaptation and mainstreaming of corporate social responsibility in regard to the firm's business activities in the target country. This will enable the firm to meet the genuine needs of the consumers (Keegan & Schlegelmilch, 2001). Vermont Teddy Bear will face yet difficulties as it will have to employ the extension of the marketing strategies that it uses domestically to the target countries.
In doing this, the firm will have to consider the global context of the target market. The firm will thus have to conduct a company, customer and competitor analysis in order for it focuses on the strategic issues.