Marketing across Cultures: Part B Assessment

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Table of Contents

Section A....................................................................................................................................2

Introduction................................................................................................................................2

About Glimmer..........................................................................................................................2

Cultural considerations...............................................................................................................2

Market entry strategy.................................................................................................................2

Conclusion..................................................................................................................................4

Section B....................................................................................................................................5

Introduction................................................................................................................................5

Bioko Treats...............................................................................................................................5

Strategic focus and plan.............................................................................................................5

Situational analysis.....................................................................................................................6

Industry analysis.........................................................................................................................6

Competitors................................................................................................................................7

Customer analysis......................................................................................................................8

Target market.............................................................................................................................8

Value proposition.......................................................................................................................8

Market entry strategy.................................................................................................................9

Conclusion..................................................................................................................................9

References................................................................................................................................11

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Section A

Introduction

Glimmer is engaged in selling a broad range of adored jewellery and offers on the online
platform with their unique designs. As a small business, Glimmer is focused to reach its
brand towards success by advertising primarily on Facebook and Instagram as well as popup
retail outlets at the peak seasons for capitalisation of its business. For reaching their business
to the root of success now glamour is focusing on entering into the new market such as India
as Indian customers are found to be demanding unique and different designs according to the
Seasons.

About Glimmer

Glimmer is a growing and young small jewellery business formulated in the United Kingdom
and engaged in selling a broad precious jewellery range at a reasonable cost. In the year 2015,
two Brothers Dominic Osai and Dion start-up their business. The brothers are showing their
passion regarding jewellery design and aimed at showing adored metal jewellery as
affordable jewellery and retailing their jewellery with the belief that their jewellery can be
acquired easily quickly and with fun. The company does not have the utmost avenue presence
as their official website is recently the approach for existing their jewellery products as well
as vital to business success.

Cultural considerations

Jewellery is worn by men and women in every region and culture of the world for years.
There is some kind of significance being carried by jewellery for several cultures and can be
used as a nobility religion wealth status job titles symbol. India seems to be a diverse culture
that extremely relied upon the geographical location as well as their cultural nuances can be
shown in their dresses, food, as well as other factors. It means that consumer behaviour is
required to be understood for understanding the nuances and annotations mainly in the
jewellery purchasing case (Matricano and Vitagliano, 2018). Indian society has spread the
Vedic concept. Jewellery purchasing is based on festival buying as well as occasion buying
as the customers are found to be purchasing jewellery according to their occasions.

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The target market segment of the company is the female age group ranging from 22 to 40 that
are buying jewellery in such a way as they are giving a treat to themselves as well as loved
ones. Although it has been seen that there is an increment in the jewellery purchases for
children by their parents just like UK trends (Kalia et al., 2018). Some reports have
highlighted male jewellery as an optimal feature of several fashion catwalks and famous
celebrities found to be war such jewellery that has resulted in a demand steady growth.

Market entry strategy

The desire to utilise E-Commerce opportunities is motivating companies for creating

innovative approaches for business associated with competitiveness as well as consolidating
the market position. Relied upon the constraints capability and requirements of the company
the approach to enter into the market as well as risk profit potential control and engagement
scope as there are several options to enter into the market can be chosen by the company
(Rana et al., 2020).

The follower’s strategy- this strategy is commonly called the late arrivals approach to enter
into a new market in the innovator's wake by copying an Idea technology or product
completely or partially. with the help of this approach, the cost of bringing improvement or
development of the product is consistently less. Companies that are utilising this kind of
strategy are found to be rarely outperforming their innovators but still, there will be an
opportunity for becoming a market leader as if the quality of the follower's product is higher
than they are prepared for development fast pace.

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 (Source: Vladyslav Sapozhnykov, 2018)

Strategy to sell the product assortment- this strategy principle is categorised into two kinds
that is additional products and interchangeable sales. Interchangeable products strategy is
defining the price lines and Groups of the products. Numerals products modification are there
that are categorised into medium, low, as well as higher quality and then the price, is being
set for every group (Li et al., 2019).

Digital market strategy- as there are technical progressions it has been found that several
followers and fans are there of a new approach to doing business by applying digital strategy.
It is not deniable that the internet and developed a favourable environment for making the
connection between customers and producers. This strategy is giving an advantage to the E-
Commerce business in which an increment in sales, an increment in investment returns
improvement in customer service as well as an incline in product value, and the brand is
being secured in the market given by the internet.

Conclusion

Glimmer is engaged in selling a broad range of adored jewellery and offers on the online
platform with their unique designs. India seems to be a diverse culture that extremely relied
on geographically location as well as their cultural nuances can be shown in their dress, food
as well as other factors. The target market segment of the company is the female age group
ranging from 22 to 40 that are buying jewellery in such a way as they are giving a treat to
themselves as well as loved ones. Male jewellery is highlighted as an optimal feature of
several fashion catwalks and famous celebrities found to be war such jewellery that has
resulted in a demand steady growth. Several followers and fans are there for a new approach
to doing business by applying digital strategy. the advantage of E-Commerce business is
which increment in sales, increment in investment returns improvement in customer service
as well as an incline in product value,

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Section B

Introduction

This report is focusing on the marketing plan of a growing company named Bioko Treats that
is aimed at developing its international marketing image so its plan for entering g into the UK
market will be successful. This report is portraying the core competencies and internal factors
of the company and also industry and customer analysis. This report is high lighting the
market entries strategy for Bioko Treats so that they can enter the UK market successfully.

Bioko Treats

Bioko Treats is one of the well-known Corporations formulated in Ghana, Accra and an
optimal cocoa producer from which they craft delightful and gorgeous premium chocolate
with the utilisation of popular forastero cocoa in Ghana that is being infused with main
domestic ingredients. The name Bioko Treats has been taken from equatorial Guinea Island
and also that is known as the commercial production of cocoa's founding father in Ghana
where the cocoa Bean has been discovered for the first time.

(Source- Best of ghana chocolates, 2022)

Strategic focus and plan

This plan section is reviewing corporate strategies 3 aspects that are influencing the Bioko
Treats marketing plan-

Mission

Bioko Treats' mission is to marketing and selling its premium chocolate lying in various
flavours and make different regions' customers familiar with this flavour all over the world
and also concentrates on instinctive materials and ingredients that are involved in promoting
social and environmental sustainability.

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Goals

1. Financial goals-

To get higher growth in revenues and share by 5% every year

To secure a 10% equity return

2. Non-financial goals-

To make customers knowledgeable about Ghanaians' capabilities to produce International

standard products

Increment in the market share with the introduction of additional goods from the line of
Bioko Treats and the introduction of the new range in the UK market

To maintain the Bioko Treats brand image as delightful and popular chocolate bars

Core competency

Premium and handmade Milk chocolate bars crafted with the utilisation of Finance domestic
ingredients that are decorated with signature artistic blossoms that have the potential to enter
into the UK market and in the hearts of customers.

A proficient distribution system for reflecting the standards of Bioko Treats and also discount
is being given to retailers

Such core competencies express competition and Bioko Treats is constantly monitoring its
distribution system as well as customer attitude toward their brand in the UK market for
gaining the customers in long run as well as maintaining higher retention of the customer.

Situational analysis

Strengths Weaknesses

Fairtrade is the main focus Expensive resources

Supplier networks are loyal Resources utilization such as milk, water and

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 sugar is restricted

Regulatory and legislative requirements

Opportunities Threats

Growth in the UK chocolate market is robust The incline in cocoa prices

The incline in demand for healthy, premium, Strong competitors have already taken the
and sustainable treat chocolates market so rigorous competition will be there

Other government associated agency as well

as NGOs broader support (Konstantas et al.,
2018)

Industry analysis

As per the UK chocolate industry, it has been analysed that the chocolate Industries is
confronting some major challenges in the UK to enter the market. The increasing healthy
food significance has constantly put a major strain on the chocolate industry and a rise in
input costs as well as economic decrements. Due to the recession customers are not
purchasing discretionary goods like chocolate. Determinants of demand in the chocolate
market are changes in pricing, distribution, the lifestyle of customers, substitute presence,
innovation, advertising, and branding of the product (Ramli, 2017).

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 (Source- Bioko treats, 2023)

Chocolate bars constitute around 40% of the industry as well as on the basis of higher growth
other superior quality European chocolate bars are found to be penetrating the UK market
like Guylian and Lindt. A barrier to market entry of chocolate companies is found to be
medium as well as along with a momentous investment that is needed to enter into the new
market cost. The biggest threat being caused to new chocolate businesses and Trends is well-
known brands' position in a specific industry. A much bigger corporation is having resources
that is permitting them for making an investment heavily in promotions and advertisements.
Competitors are found to be having powerful connections with their suppliers which found to
be challenging for a new product for coming into the market and creating contracts with those
suppliers

Competitors

Numerous brands are giving strong competition in the US market for similar customers.
There are top competitors of Bioko Treats are-

Cadbury

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Hershey

Nestle

Ferrero rocher

Lindt

Ghirardelli

Customer analysis

Customer characteristics- customers are purchasing chocolate Riders generally that is having
broader socio-economic backgrounds range. As Bioko Treats is starting important premium
chocolate bars from Ghana that contain a higher cost than generic chocolate it has been
suspected that customers are found to be having narrow range. Bioko Treats is aimed at
marketing its brand as one of the most expensive chocolate brands. Their target market is
comprised of groups or individuals that have higher incomes and educational qualifications.

Nutrition and health concerns- nutrition and health is playing a significant part in American
consumer’s decision-making. Now it has become a significant issue and concern for several
consumers. As the majority of consumers are having concern of their healthy diet so there
will be a great influence on Bioko Treats success (Hollender et al., 2017).

Societal trends- considering the significant societal trends at the time of introducing Bioko
Treats will be the recent American financial Trend. The question is being put that chocolate
bars can be purchased by Americans or not then it has been found that 60% of consumers are
preferring to eat chocolate more than two times a week.

Target market

The main target market of Bioko Treats is women man and children's and also targeting the
family having more than an income of 45000 per year.

Value proposition

The value proposition of Bioko Treats is to provide households with a premium bar of
chocolate being imported from Ghana so that the chocolate bar can be easily accessible to

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nearby outlets and supermarkets. The chocolate bars will be offered at a competitive price
that customers can also purchase as a gift.

(Source- Ghana Chocolate Hub, 2021)

Market entry strategy

Exporting is one of the best entry strategies that is permitting the products for selling to
International Corporations directly. An approach to direct exporting than indirect is
considered as a better option for Bioko Treats as this entry mode is supposing that delivery
sales, as well as production, can be performed Soli by Bioko Treats with no intermediaries.
Direct exporting benefits are much more in which one of them is that there will be a higher
return on the investment because of third-party absence (Ahi et al., 2017). Lower prices are
being facilitated by this approach for chocolate products that are much more competitive.

For more face-to-face connection with the customers and clients is found to be possible that
means going International. There is no requirement for investment in resources for
international production in direct exposing that also helpful in minimising the delay in the

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market entry as well as investment risk. This strategy of employment is enabling the
company to existing information regarding the competition in the international market and
prepares them for dealing with seasonal inconstancies in the market.

Conclusion

In conclusion, it has come to light that the company is required to work much harder to enter
the UK market as there are several competitors in the Industry that is giving strong
competition by selling premium chocolate bars. Those competitors are having strategic
marketing plans and also making have your investment in advertising and promotion so
Bioko Treats is also required to promote their products so their customers have knowledge
regarding their brand presence.

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References

Ahi, A., Baronchelli, G., Kuivalainen, O. and Piantoni, M., 2017. International market entry:
how do small and medium-sized enterprises make decisions?. Journal of International
Marketing, 25(1), pp.1-21. https://journals.sagepub.com/doi/abs/10.1509/jim.15.0130

Best of ghana chocolates (2022) Bioko Treats. Available at: https://biokotreats.com/

(Accessed: January 9, 2023).

Bioko treats (2023). Available at:

https://bioko-treats.business.site/posts/8049295404639949411 (Accessed: January 9, 2023).

Ghana Chocolate Hub (2021) Bioko treats, Ghana Chocolate Hub. Available at:
https://ghanachocolatehub.com/bioko-treats/ (Accessed: January 9, 2023).

Hollender, L., Zapkau, F.B. and Schwens, C., 2017. SME foreign market entry mode choice
and foreign venture performance: The moderating effect of international experience and
product adaptation. International Business Review, 26(2), pp.250-263.
https://www.sciencedirect.com/science/article/pii/S0969593116301056

Kalia, P., Kaur, N. and Singh, T., 2018. E-Commerce in India: evolution and revolution of
online retail. In Mobile commerce: Concepts, methodologies, tools, and applications (pp.
736-758). IGI Global. https://www.igi-global.com/chapter/e-commerce-in-india/183314

Konstantas, A., Jeswani, H.K., Stamford, L. and Azapagic, A., 2018. Environmental impacts
of chocolate production and consumption in the UK. Food research international, 106,
pp.1012-1025. https://www.sciencedirect.com/science/article/pii/S0963996918301273

Li, G., Zhang, X., Chiu, S.M., Liu, M. and Sethi, S.P., 2019. Online market entry and channel
sharing strategy with direct selling diseconomies in the sharing economy era. International
Journal of Production Economics, 218, pp.135-147.
https://www.sciencedirect.com/science/article/pii/S0925527319301756

Matricano, D. and Vitagliano, G., 2018. International marketing strategies in the jewellery
industry: are they standardised, adapted or both?. International Journal of Marketing
Studies, 10(1), pp.1-10.
https://pdfs.semanticscholar.org/c849/431e285134ee0fcb1807865b192f0c7c7fe5.pdf

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Ramli, N.S., 2017. A review of marketing strategies from the European chocolate
industry. Journal of Global Entrepreneurship Research, 7(1), pp.1-17.
https://link.springer.com/article/10.1186/s40497-017-0068-0

Rana, A., Singh, R.K. and Chauhan, H., 2020. Jewellery Market: Latest Marketing
Trends. Unlocking Management Research A Road Map to Future Business, pp.249-258.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3926282

Vladyslav Sapozhnykov, vladsapro@gmail.com (2018) Developing a market entry strategy

for E-Commerce Business Adloonix, Adloonix.com. Available at:
https://adloonix.com/Developing-a-Market-Entry-Strategy-for-E-Commerce-Business-
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