Executive SummaryThis analysis was based on the idea of introducing a product into the new market in a foreign country. The product that was considered in this case is the HSV Grange (WM3) luxurious car which is a product of Holden Special Vehicles Ltd. HSV is an Australian based company specialised in manufacturing different types of cars for the market. The analysis has also tackled the various elements to be taken into account while segmenting the market and which include the middle and upper income earners in the society.
This is because it is a luxurious product that may be considered a want and therefore can be purchased by individuals that consider the product suitable for them and want to identify with their class. Further, the analysis has gone a step further to identify the specific countries which the company intends to venture into and which include Germany, Japan and France. However, Germany has been recommended as the best choice because of the economy that is well advanced and issue of class. Finally, there will be some challenges in entering the market because of a number of reasons like barrier in communication, acceptance and relationship building.
Use of strategic alliance has been proposed as the best approach to entering the market. 1.0 IntroductionEvery business in the current world is looking for different ways that it can make its business a success. While many businesses are finding it difficult to grow further in the local environment because of the stagnated market share and increased number of competitors, some are venturing into foreign lands for more market opportunities as one of the best strategies to ensure growth and sustainability (Harkness and Mohler 2003).
However, entry into global market is not always a smooth move because differences exist between the local business environment and that of the target market and which can be explained in terms of economic, cultural, geographic, demographic, political and legal issues. The intention of this study therefore is to present a situation where a common product is being introduced into a foreign country and the various aspects that have to be tackled. The product under consideration is the HSV Grange (WM3) luxurious car launched in 2011 in Australia.
1.1 The CompanyHSV Grange (WM3) is the luxurious car that is being manufactured and marketed by Holden Special Vehicles Ltd. HSV is an Australian based company specialised in manufacturing different types of cars for the market. The company was established in 1987 and works as a partner of Holden Group which is a family of different car manufacturers in different parts of the world. The company’s strength lies on the large capital it has managed to raise and huge infrastructure that it has developed alongside numerous car models that it has managed to develop for the market and which include Commodore and Caprice as well as Ute (NetCarShow. com 2011).
1.2 The ProductThe HSV launched the HSV Grange WM3 luxurious car in 2011 in Australia. This is the car model that is considered most luxurious ever been developed in Australia in the recent past and has gone further to attract different customers from different quarters who are interested in this new type of car. This is a more restyled luxurious car from the previously manufactured HSV Grange in 1987 as the flagship.
This model shows many upgrades which led to the latest HSV Grange WM3. This is a highly advanced car model in terms of technology and luxury. For instance, the luxury car has an advanced new styling and increased power as well as extra technology that make it a passionate product any customer may wish to drive. In brief, the company is characterised with new and exciting technologies that support driver interface, liquid propane injection (LPI) and side blind zone alert.
These are the features that have defined the product proposition in the market (NetCarShow. com 2011).