The paper "Consumer Experience and Experiential Marketing" is a wonderful example of a Marketing Case Study. This report discussed the various concepts of marketing. According to this report, there are various methods that can be applied by a company to enter into a foreign market and they include licensing where the company can license a local company to manufacture products and sell them on behalf of the foreign company. There is also a joint venture where the company can join with other organizations which manufacture food products to enter into foreign markets.
The marketing strategy recommended in this report is community marketing. In addition, the report discussed the ethical issues which the company can encounter and they include changes in consumer patterns and social-economic issue. Finally, the report recommends that the company can manage these issues promoting diversity at the workplace and conducting market research to understand the local culture like learning the language. Marketing is an important function as it helps to determine the success of any organization in both internal and global markets. This is because it helps the marketing team to create awareness of the products and services to customers.
Effective marketing should the buying behavior of the customers and this can be achieved by conducting marketing frequently. Culture and social aspects greatly influence the organization of the marketing function (Bernd & Lia 2013). This is because the marketer should consider the most marketing technique to use which can appeal to the target market failure to which the target market will develop a negative attitude towards the products being promoted. In this regard, therefore, this report will discuss the various concepts of marketing which should be considered when expanding the market into Turkey and the method of entry into the global market and the marketing strategy to use in expanding the market. Market entry strategies There are a number of strategies that can be applied by the organization to enter the Turkish market.
The first strategy to enter into the foreign market is licensing. This is the strategy whereby the organization will permit a company in Turkey to manufacture and sell products on its behalf. The licensed company can use the same manufacturing process and trademark in manufacturing the products.
This strategy helps to create awareness of the products in the foreign market and it will be easy for the company to expand its operations into the foreign market. Advantages of licensing include; It is a good way of starting the business in the foreign market because it lowers the risk of entering into the foreign market. This is because the manufacturing fully rests on the licensed company and in any case, it’ s the one which will suffer the loss, but if the products succeed in the new market the company will benefit when it takes full control of the foreign market (Blythe 2001). It also reduces the capital which could be tied up in the foreign market as a result of installing the necessary equipment to manufacture and offer products to the customers.
Instead, this capital can be used to expand the operations of the company. Licensing also provides the option to buy into the partner.
Bernd, S & Lia, Z 2013, Consumer Experience and Experiential Marketing: A Critical Review, Minneapolis, Lominger.
Blythe, J 2001, Essentials of Marketing, 2nd edition, Prentice Hall.
Brassington, F & Pettitt, S 2002, Principles of Marketing, FT Prentice Hall, ISBN 0273657917.
Ellwood, I 2002, The Essential Brand book, Kogan Page Limited.
Fill, C 2002, Marketing Communications, Contexts, strategies and applications, Prentice Hall.
Fifield P 1998, Marketing Strategy 2nd Edition, Butterworth Heinemann, ISBN: 075063284.
Hatton, A 2000, The Definitive Guide to Marketing Planning, FT/Prentice Hall, ISBN:
Hoyer, W.D & MacInnis, D. J 2001, Consumer Behavior, 2nd Edition, USA: Houghton Mifflin Company.
Kerin, A.R & Peterson, A.R 2013, Strategic Marketing Problems, Cases and Comments, London, Pearson.
Kotler, P & Chernes, A 2012, Strategic Marketing Management, McGraw Hill.
McDonald, M 2002. Marketing Plans: How to Prepare Them, How to Use Them 5th Edition,
Butterworth Heinemann, ISBN: 0434912301.
Philip, K 2011, Contributions to Marketing Theory and Practice, Jossey-Bass, San Francisco
Proctor, T 2000, Essentials of Marketing research, UK: Financial Times-Prentice Hall.
Randall, G 2001, Principles of Marketing, 2nd edition, Thomson Learning.
Van, A. B 2002, The Brand Management, Checklist, Kogan Page.
Ziethmal, K & Bitner, P 2003, Services Marketing: integrating customer focus across the Firm, McGraw Hill.