Evaluate the implications of increasing globalisation for BKC’s future

marketing plans.

Marketing plan is a report that outlines your marketing strategy for the coming year,
quarter or month. This usually includes an overview of your business’s marketing and
advertising goals, the description of your business’s current marketing position, and more.
This would also mean incorporating new budget plans, target market pricing and more.
Globalisation refers to the way that people around the world have become more connected
politically, economically and socially. Globalisation of business is the change in a business
from a company associated with a single country to one that operates in multiple
countries.

BKC is a public limited company, and is well-known for clothes that are traditionally styled
of good quality (line 4) meaning that they have a high brand image, a good customer base
and high revenues flowing from country X and Y. Since BKC is an already established
company, expanding overseas can help bring in more revenue, have access to new
markets and be able to keep up with the competition in the international markets [mention
BRIC]

However, like all established brands, BKC also faces weakness, to increase globalisation
for future marketing plans, they should consider selling online which should be a key factor
to their marketing plan. BKC sees Increased competition In country X, thus globalisation
would mean International brands can now participate so BKC would have to keep with
competition to increase buyer power. Selling online would help BKC to keep up with
international brands and be more known to local markets. Moreover, using technology can
help enhance BLG customer base and increase revenue simply just by spreading
awareness about their brand. Incorporating technology as a means of selling/marketing
can help sustain customer relationship and communication at minimal cost, effort and time.
[online ]
Spend more on advertising, fluctuations in the marketing budget impact profit short run
Threat
BKC also faces some threats, that could impact BKC future marketing plans for
globalisation, they should implement new marketing plans, for example, by updating their
surveys, the last survey was taken in 2010 (line 50) 8 years ago this research may not be
relevant anymore, this is an extremely long period of time for new customer preferences,
wide changes in fashion trends. Being updated with customer preferences can help bring
back BKGS customers. Updating market research would give BKC an opportunity to thrive
in the global market and keep in touch with fashion trends around the world and be
competitive with the rest of the market, as well as enhance customer relationships.
However, since it is a global market BKC may not be able to keep up with the cultural
differences and expect extremely accurate data. [increased import] which kind of
research would help them .primary or secondary.

BKC can sell abroad, the trade allows for selling overseas, which would mean more
competition and also lead to BKC reducing prices to keep up with the market. BKC may
have to update their market development, however this may now apply to everyone since
they cannot generalise demographics and might not be able to keep up with completion
without making larger changes. [medium risk tool ] market growth potential factors that
support like a mid risk expansion
Advantage Joint venture company can provide info this part is incomplete.

In conclusion, BKC needs to make its marketing objective clearer by implementing SMART
technology into their planning methodology. They would have to spend more or take out
more from their marketing budget since research is an area they lack. Moreover, there will
be social and political factors which might have to be assessed before entering foreign
countries for the business. Add a new team in the marketing segment to promote products
online as there is already an existing global leader in their segment. BKC should also work
on creating a website to make payment easier and navigation as well for enhancement on
customer returns.