The paper "International Marketing Plan - the Australian Olive Oil Industry " is a perfect example of a marketing case study. The ability of a firm to penetrate and establish itself in a foreign international market has been quite difficult for most industries. Doole and Lowe (2008), affirm that most companies perceive this step as a start-up venture that acts as a threat to their global capabilities. The Australian Olive Oil Industry as a new entrant in a new country market views this approach as an extension of their export business. The industry is focused on generating enough knowledge and innovative ideas from the already existing market in France.
Through this strategy, the industry seeks to increase its industry value by improving their already existing products and services and using this as a means to increase their revenues. The Australian Olive Oil Industry ventures into this business opportunity placing its focus on managing risk and investments. As a result, the industry seeks to carry a critical evaluation of the competitive nature in the new market as a means of improving its production performance throughout its value chain.
Market research will assist the industry in understanding the vast demands of consumers. Hence the industry ensures that the adopted supply chain in the domestic and global market meets these demands as well as increasing total value and profitability (Hartline, 2010). This predicts the industry’ s future as one that is product-driven and focuses on sustaining a production base to strengthen growth and development. Consequently, quality products at the farm level will put pressure on the processing investments, import replacements and export activities. All these activities put together will enhance the industry’ s value and make major contributions to Australia’ s success. In participating in a new market, Australia Olive Industry will have to join in the market indirectly.
This due to the nature of the global marketing scenario whereby an industry is forced to participate through an indirect link which can be in form of a local distributor, independent agent, or suppliers as opposed to the domestic markets where there is a controlled marketing subsidiary (Hartline, 2010). This strategic marketing move allows the industry to have some control in operating internationally and reaching out to its customers.
Hartline (2010) further affirms that marketing management is required to constantly take part in market research in order for their industry to identify any upcoming challenges and provide solutions. International Marketing Objectives This plan provides detailed information and initiatives that will ensure the Australian Olive Industry thrives in achieving its vision and objectives. Information gathered from past international market research studies are used to provide the industry with applicable strategies which will assist it in planning and in the growth of the industry. Consequently, this plan seeks to assist the industry in increasing its value and size as it expands into foreign markets. The growth of the Australian Olive Industry makes it possible for the objectives of this plan to protect and advance it through fostering a stronger industry voice.
Through the extensive research carried out it is evident that the industry has gained development support during its rapid growth over a short period of time (Australian Oil Federation, 2010). It is therefore important for the industry to secure its position as an export market through the adoption of new varieties of crop protection, management practices and extension activities.
As discussed in the mission statement the Australian Olive Industry with the relevant stakeholders are committed to providing customers with high-quality products (Harding, 2008). Thus it should focus on a marketing strategy that will allow it to increase its revenue income to up to 50% in the next 2-3 years.
Abdikeev, N. M. (2010). Business Performance Management Systems. Moscow: Infra-M.
Australian Oil Federation. (2010). Australian Oilseed Industry Review 2015. [Online] Accessed from www.australiaoilseeds.com/AOFplan2010 [4th January 2015]
Ball, D. (2005). Too Many Cooks. Wall Street Journal.
Cateora, P., Gilly, M. & Graham, J. (2010). International Marketing. New York: McGraw-Hill/Irwin
Cunningham, M. T. (1986). Strategies for International Industrial Marketing. Croom Helm.
Doole, I. & Lowe, R. (2008). International Marketing Strategy. Thomson Learning
Drummond, G. & Ensor, J. (2007). Strategic Marketing Planning and Control. Taylor & Francis.
Harding, M. (2008).Value for Money – Returns from Rural R & D into Olives, Oaten Hay and Rice. Rural Industry Research and Development Corporation Publication No 08/198. Canberra, Australia.
Hartline, F. (2010). Marketing Management Strategies, International Edition. Nashville: South Western College.
Rural Industries Research and Development Corporation (RIRDC) & Australian Olive Association. (2002). R&D Plan for the Australian Olive Industry 2003-2008. Rural Industries R&D Corporation and Australian Olive Association Ltd. Canberra, Australia (2002)
Senauer, B. (2001). The food consumer in the 21st century: New research perspectives, Paper at the 71th Seminar of the European Association of Agricultural Economics, The food consumer in the 21st century. Zaragoza.
Sweeney, S. (2002). Olive Tree Numbers 2002. The Olive Press.