With increasing globalization and related advantages, most of the present firms are trying to go international. This is all due to maximizing the potential benefits available in different countries. With this, firms are trying to increase their presence throughout the world. Today, different countries have different advantages as some country is good in some specific industries, whereas some in others. Therefore, firms operating in an industry look for other nations doing well in the similar industries and have huge potential so that, they could take advantage of it.
This is Prateek Mishra from Ramaiah institute of management studies, Bangalore and the following presentation gives an overview of launch of a hypothetical product into the market.
This is Prateek Mishra from Ramaiah institute of management studies, Bangalore and the following presentation gives an overview of launch of a hypothetical product into the market.
A research reflection report is a report regarding the internal thoughts about the particular issue or topic under the study. Basically, it is referred as the self examination of the researcher about his work. A research project is a multifold task involving experimentation, data collection and analysis and many more. One can convey all the experiences, learning along with the barriers, which are being faced during the project.
The current report deals with the mining and oil mining industry of Mongolia. The report has tried to focus on licensing as the strategy for market entry in oil mining in Mongolia. As it was found during the research, Mongolia is rich in mineral resources and its oil industry is huge with fortunes to be made in oil mining. Licensing plays a very important role in the mining industry as it defines the limits of operations of the particular company. Mongolia has been dominated by agriculture and small enterprises but in the recent decades mining has contributed a lot towards the economic development of Mongolia. It is the 11th largest in terms of coal reserves in the world. It is also the second largest in terms of copper reserves in the world.
The research report which has chosen by me here is demonstrating about setting up of business plan in an underdeveloped country. The business and country that is selected to be established is a multi cuisine restaurant in Mongolia. Mongolia is sheltered in between China and Russia. It covers 1,565,000 sq km. area under which 60 percent of total population is resides in the Ulaanbaatar. In addition to this, 95,000 and 74,000 inhabitants live in two main urban centers, such as Erdenet and Darkhan. Moreover, now day’s tourists from diverse places are more attracted towards visiting Mongolia, due to presence of Forests Mountains, dissimilar landscapes ranging from the huge steppes and the country’s most popular Gobi desert. These all striking factors of the place have forced me to make research on the driving dynamics, which is creating desires in the other nation’s people to visit Mongolia.
The company was established upon purchase of the Hyatt House, at Los Angeles International Airport dated 27th September 1957. Owner of the Hyatt were entrepreneurs, Hyatt Von Dehn and Jack D.Crouch. Later, Von Dehn decided to get out of the hotel business. His share was sold to the hotel Jay Pritzker. Jay’s younger brother Donald Pritzer, undertaken the responsbility of hotel operation and acquired motels and hotels. Under Donald’s leadership, Hyatt Corporation became the greatest growing chain of hotels in the United States until his death in the year 1972. Hyatt is a global corporation with broadly recognised, industry. Mission of the hotel is to provide benchmark services by creating a difference. Hyatt key properties by region includes North America, Europe/Middle East/Africa, Latin America, Asia Pacific, Southwest Asia.
This document applies to all students registered as a student at Anglia Ruskin University in the Ashcroft International Business School (AIBS), and all their Partner Institutions, regarding the ethical approval of Undergraduate, Taught Postgraduate Masters Dissertations, Research–based Management Research Reports, and Work-based projects. For those undertaking any research/project work outside the UK you are required to ensure that your research/study/project complies with UK legal and ethical requirements.
Both qualitative and quantitative research techniques are applied in this paper. Positivism and interpretivism research approach is followed in the paper. The data is collected by applying both primary and secondary research methods. The data collected from survey responses is presented in the form of graphs and charts to analyze it properly
Importance of Skill development and Training Sampledissertationprime
The research planned is based on the human resource management. HRM is the most important area of concern for each and every business organizations. This is because organizations depend on the entrepreneurial behavior at a great extent that calls for a high degree of motivation and achievement to engender business excellence. The organizational performance has greatly been affected by the human resources and thereby, it is essential to follow right training and proper skills development. The extent to which the employees are committed to their work and organization has a significant on a performance of the organizations.The effective training and skills development not only bring required change in the human behavior, but also enhance employee‟s willingness to work and the desire to constantly improve his performance.
Role of Communication to Protect People from Diabetes Sampledissertationprime
The project suggests various measures to address the existing issues in Tower Hamlets council and in the borough. The most significant problems observed in Tower Hamlets region is the lack of communication between resident and council members. It causes great concern in the region. Recently, it is observed that diabetes is continuously spreading in the Tower Hamlets region due to lack of awareness among people in the region. People in the region cannot be well informed about diabetes because of communication problems in the region. This project can help Tower Hamlets council to control the diabetes in the region. Diabetes can be controlled in the region with the help of various methods of communication explained in the project. The Tower Hamlets council members would be able to increase the awareness of residents of the region by maintaining continuous flow of information.
Importance of Motivation and Retention in Restaurant Industry Sampledissertationprime
The Hospitality Industry is one of the biggest industry which helps in giving employment to the people. It has been declared that in spite the global crises this particular industry will never have the problem of credit crunch as people will never stop eating. It is also predicted that this industry will have its downfall almost at the bottom of all (United Nations World Tourism Organisation, 2009). Along with this it is also been declared as the 5th largest industry which gives employment to the people.
This research is undertaken with a rationale to evaluate the need of microfinance in developed countries by taking a classic example of United Kingdom (UK). The current global financial environment is very risky and unstable due to the continuous changes in social and technological environment. Thus, the focal point of this study is to provide a significant overview on the need of microfinance, mainly in the developed countries such as UK.
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Dissociative Identity Disorder (DID) is a controversial condition that centres on the presence of alter personalities. Sceptics say that the alter personalities, which are the hallmark of DID, result from therapist iatrogenic bias and/or from patients who are malingering or responding to reinforcement. Non-sceptics say that alter personalities are a defensive reaction to unmanageable trauma.
Home service management firms provide services to the families or the individuals to accomplish their daily routine household work. And in return they charge reasonable service charges. This concept of home service management helps families and individuals to save their precious time and energy. Further, they also get extra time to indulge in leisure activities, as now they don’t have to plan or bother about completing the household chores.
Setting up a gardening business is a tedious task and encompasses many complex and essential things to be kept in intellect. Planning, both for the small business or large venture involves insertion of innovative ideas and amplification of aims and objectives. A garden can be defined as a planned space, generally outdoors, set aside for the purpose of enjoyment of human beings, animals, plants and other forms of nature .
It is a business development proposal, designed for establishing a new venture as an entrepreneur. A new venture needs to have a detailed business proposal plan. This business proposal plan is a prescribed expression of the entrepreneurial vision along with description regarding the operations and strategy of the proposed endeavor. The main advantages of writing a detailed business plan is the offsetting the costs. Business plan enables the top management and executives in the firm to ponder about the business comprehensively, to converse the business objectives to personnel, to include a decision making base and to smooth the progress of the planning.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
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- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
The Forgotten Secret Weapon of Digital Marketing: Email
Digital marketing is a rapidly changing, ever evolving industry--Influencers, Threads, X, AI, etc. But one of the most effective digital marketing tools is also one of the oldest: Email. Find out from two Houston-based digital experts how to maximize your results from email.
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Email has the best ROI of any digital tactic
It can be used at any stage of the customer journey
It is increasingly important as the cookie-less future gets closer and closer
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
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Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
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Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
How to Use AI to Write a High-Quality Article that Ranksminatamang0021
In the world of content creation, many AI bloggers have drifted away from their original vision, resulting in low-quality articles that search engines overlook. Don't let that happen to you! Join us to discover how to leverage AI tools effectively to craft high-quality content that not only captures your audience's attention but also ranks well on search engines.
Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
34-Rahul-Mande.pdf PROJECT REPORT MBA 4TH SEMESTER
Wal-Mart International Marketing Plan Sample
1. 1
UNIVERSITY | WORD LIMIT: 4176 WORDS
DATE: 3RD
MAY, 2012
ASSIGNMENT TITLE: WAL-MART INTERNATIONAL MARKETING PLAN
STUDENT NAME:
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2. 2
Contents
Introduction ................................................................................................................................ 3
Company Background ............................................................................................................... 3
Product to be internationalized: ............................................................................................. 4
Current State of the Wal-Mart:............................................................................................... 4
Strengths: ............................................................................................................................ 4
Weaknesses: ........................................................................................................................ 4
Opportunities: ..................................................................................................................... 5
Threats: ............................................................................................................................... 5
Wal-Mart Motives to Internationalize: ................................................................................... 5
Wal-Mart Value Chain ............................................................................................................... 5
Host-Country Analysis............................................................................................................... 7
PESTLE Analysis:.................................................................................................................. 7
PORTER’s Five Force Analysis: ........................................................................................... 9
Location Specific Advantages of India: ............................................................................... 11
Cost and Risk Issues:............................................................................................................ 12
Selection of an Entry Mode ..................................................................................................... 12
Entry Mode for Wal-Mart: ................................................................................................... 14
Implementation of Marketing Mix........................................................................................... 15
References ................................................................................................................................ 18
Appendices ............................................................................................................................... 20
Appendix 1: Retail Sector Growth in India .......................................................................... 20
Appendix 2: Changing Paradigm ......................................................................................... 21
Appendix 3: Types of Retail Sectors.................................................................................... 22
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Introduction
With increasing globalization and related advantages, most of the present firms are
trying to go international. This is all due to maximizing the potential benefits available in
different countries. With this, firms are trying to increase their presence throughout the world.
Today, different countries have different advantages as some country is good in some specific
industries, whereas some in others. Therefore, firms operating in an industry look for other
nations doing well in the similar industries and have huge potential so that, they could take
advantage of it (Agarwal, 2010). Similar is the case with Wal-Mart, which is a leading
America’s multinational retail corporation.
established with a goal of saving people money and assist them in living a better life
(Wheelen, Hunger and Thomas, 2011). It serves them in a way they want to be serves like
through retail store, online, and on mobile. The company operates with 69 different banners
in about 27 countries. In present, it employs more than 2.2 million associates all over the
world.
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Product to be internationalized:
Wal-Mart’s success throughout the world had motivated it to enter Indian market and
in this regard it is planning from last several years. The company want to internationalize its
low cost, discount department stores in India with an aim to attain underlying advantages in
Indian retail industry (Wheelen, Hunger and Thomas, 2011). These low cost, discount
department stores of Wal-Mart in India would offer an extensive range of goods like grocery,
home appliances, furniture, apparels, cosmetics, toys, toiletries, etc.
Current State of the Wal-Mart:
In regard to expanding in a new market, it is essential to understand Wal-Mart’s
current situation that could be done through company’s SWOT analysis in the following way:
Strengths:
Wal-Mart is a powerful retail brand as it has a status for value for money, ease and an
extensive range of products all in one store.
It has grown significantly over current years, and has practised global expansion.
The company has a core competence in involving information technology to support
its global logistics system (Wheelen, Hunger and Thomas, 2011).
Wal-Mart operates with a focused strategy for human resource management and
development.
Weaknesses:
Being world’s largest grocery retailer, it is weak in some aspects because of huge
span of control.
Since Wal-Mart sell products although several sectors, sometimes it may not have the
flexibility of its more focussed competitors.
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Opportunities:
To acquire, merge, or establish joint ventures and strategic alliances with other global
retailers, like Europe, India, or the Greater China Region (Kotler, 2002)
The company stores operate in small number of countries, so there are extensive
opportunities for future business in growing consumer markets, like India and China.
It could diversify from large super centres, to local and mall-based sites.
Wal-Mart Value Chain
For successfully operating in Indian retail industry it is essential for the company to
consider its value chain as without this it would not be possible for the company to have a
clear idea of its subsystems each with inputs, transformation procedures, and outputs. For
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operating at global level, it is essential to make changes in some of its sub-systems or all sub-
systems (Broadbridge, 2008). The change is all due to the acquisition and consumption of
resources in a different way. In India, the company would need to have a different approach
to acquire and consume resources in comparison to America. Carrying all value chain
activities in effective manner would affect its cost and profits.
All activities of the company in India would be classified into primary or support
activities that would differ in some or other way from its value chain in different nations. The
key primary activity that would be affected while operating in India is:
Inbound Logistics: Suppliers in Indian market would be new, so relationships need to
be formed along with determination of activities to receive, store, and distribute inputs
(Bhatia, 2008).
Operations: The Company also need to determine its operations in India required
running a low cost, discount department store.
Outbound Logistics: It involves different activities requisite to collect, store, and
distribute the products throughout Wal-Mart stores in India.
Marketing and Sales: The Company would also need to make determination regarding
its marketing sales activities in India as per the needs of customers and underlying
market trends (Lancaster and Reynolds, 2005).
Service – It would include post purchase activities like customer queries and return
policies etc that would be change as per underlying trends in the industry.
In addition to the above discussed primary activities, Wal-Mart executive in Indian
market would also need to make changes in support activities that are procurement, HRM,
development of technology, and infrastructure as without these support activities, it is not
possible for a firm to operate effectively specially in a global market (Kotler, 2002). All
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support activities in India would be different from what it is in America as Indian suppliers
have different terms and conditions. In India employees’ base is different from America and
they need more training. Technological development is also essential for it to integrate IT in
its India’s operations along with the development of specific infrastructure.
PESTLE Analysis:
Political
Indian retail market is still protected from the FDI (Foreign Direct Investments). As
well, there have been pressures on the local state governments from the trade unions
contrasting the entry of retailers as well as from Central Ministers who prefer to bring more
foreign investments so that more job opportunities could be creates. Till now, only single
brand retailer Marks and Spencer Plc. is allowed to open store and multi brand retailers are
yet to take advantage allowed through partnerships. Overall politically the environment is in
the favour of the retailing industry (Dabas, Sternquist and Mahi, 2012).
Economical
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The income in India is concentrated to large cities as here more opportunities are
available and youth migrate to cities after completing their education for jobs. The educated
youth prefer to buy through retail stores instead from Kirana stores or from road-side (Bhatia,
2008). The industry high growth rates and increasing profits, evidences the future potential of
India’s retail industry. The industry is largest in India and holds 10% in country’s GDP.
Social
There is cultural diversity in India that need to be understood by retailers coming in
this industry. Every state in India has its own specific food and purchase habits. For instance,
in Punjab consumers consume lot of wheat and potato whereas in Bengal consumers prefer
rice. In India, women play a key role in purchasing decision, as they always like to touch and
feel grocery or anything else before buying (Lancaster and Reynolds, 2005). These social
factors need to be considered effectively for starting retail stores in India.
Technology
India is emerging in regard to technological advancements as all industries are making
use of information and communication technology that present several advantages for the
country industries and the country (Dabas, Sternquist and Mahi, 2012). Technological
environment is much better than before, so this is also a reason of fastest growth of its retail
industry. Industry players now make use of online shopping, ERP systems, CRM systems,
retail media networks etc.
Legal:
The legal framework regarding retail industry in India is appropriate but confronting
significant opposition from trade union. The FDI policy of India is still not appropriate for
foreign retailers and they are confronting difficulties’ in this market (Broadbridge, 2008).
Environmental:
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Concern related to maintaining environment is on heights and all foreign retailers are
bound to behave in socially responsible manner, so that India’s people don’t suffer. More
focus in given on environmental initiatives.
Entry of big retailers, who are capable to absorb early losses, will be an apparent
threat to small retailers in the industry serving in cities as well as towns. The size of
unorganized retail in India is about 95% (Appendix 3). Initially, till the time new entrants
have developed an effective experience, they would be forced to make sales at higher costs.
Retaliation in opposition to organized retailers by trade unions have directed towards closing
down of stores, burning the stores, violence etc. In states run by communists there is a strong
resistance.
Supplier Power
Supplier power in the industry is low as previously retailers used to purchase from
rural farmers in Mandis, but now the business is transformed under modern warehouse.
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Farmers’ supplier power is quite low now due to the introduction of cash and carry formats
(Mehrotra, 2007). Products supplied from different FMCG companies like P&G, Unilever,
and Colgate Palmolive offer modern retailers with bundled price offers, whereas small retail
traders are not able to access these offers.
Threat of Substitutes:
Threat of substitutes is low in this industry as switching costs for customers are very
less. Most of the retail supermarket and departmental stores operates in large malls that
provide all additional facilities like parking, recreation, and entertainment (Mehrotra, 2007).
It provides a new shopping experience and customers prefer to make large purchases with a
belief to get more benefits. With this kind of environment small retail stores are neglected.
Some of the traditional retailers also enjoy comfort of their locality or busy marketplace that
could be a substitute constraint and entry barrier (Srivastava, 2008).
Buyer Power:
The buyer power is strong in Indian retail industry. Several organized retailers are
coming, and the choice for the retail buyer has increased. This in turn also increased buyers’
power.
Competitive Rivalry:
The level of competition in the industry is moderate as all retailers are operating with
different size. Some are small size retailers, whereas some are large size retailers. In present,
the number of small-size retailers is high as middle class and group below middle class prefer
to shop in small quantities on credit from their nearby store (Indian Retail Industry, 2005).
Though traditional retailers are there in the industry, but it is predicted that in future large
size retailers will gain momentum and industry competition will become intense.
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Location Specific Advantages of India:
With the help of PESTLE and Porter’s Five Force Analysis, it could be said that Wal-
Mart entry into India would be quite significant as it has several location specific advantages
that are:
India in present is the second most attractive evolving market for investment
subsequent to Vietnam in regard to retail sector.
Demographically and economically too the Indian environment prefer the retail
industry (Baker and Hart, 2007)
India’s growth rates are high and consumer spending has increased speedily as
disposable income of youth population has increased significantly.
In last four years only consumer spending has increased 75%.
Use of latest technologies in the industry is also directing retail firms towards
operational efficiencies and cost effectiveness (Broadbridge, 2008).
With the discussion of LSAs of India, it becomes evident that Wal-Mart would be
effectively able to attain its motives for internationalising. It would be able to make use of
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12. 12
available potential in this sector and work as an attractive firm. It would also help it in its
global expansion.
Cost and Risk Issues:
Although, LSAs of India evidences that it is an appropriate country for retailers but
still there are several challenges and issues in this sector like skilled human resource,
regulatory framework, infrastructure, privatization and logistics, FDI policy and supply chain
management. It is a cost-driven sector therefore; retailers need to bring cost-efficiency by
improving their processes in order to attain maximum market shares (Bhatia, 2008). All these
aspects if not handled could increase Wal-Mart costs in India that in turn would make a
negative effect on its prices that need to be low to serve this market in an effective manner. In
addition to this there is risk of opposition from trade unions as they don’t want multi-brand
retailers to come in India. This could also result in violence so, it is important for Wal-Mart
to enter with all-inclusive preparation (Retail Industry in India, n.d).
Selection of an Entry Mode
The mode of entry is a basic decision for a company, whenever it plans to enter a new
market as the selection of automatic entry constrains its marketing and production strategy.
The mode of entry selected also make an affect that how a company deals with challenges
while entering a new country and developing new skills required to successfully market its
products (Indian Retail Industry, 2005). There are various forms of entering a new country’s
but the most common and effective modes of entry that could also be used by Wal-Mart to
enter India and increase its control are:
Export:
It is the conventional method of entering into a new market that could be direct or
indirect. It is a significant method as it doesn’t require any infrastructure facility in the
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13. 13
foreign country. It does not involved intermediaries, which in turn help in increasing
company profitability. It pertains to marketing and direct sale of domestically produced
products in another country.
Strategic Alliance:
It is the most cost effective entry mode one can use. In this firm could make alliances
in with some large players’ foreign market and take the advantage of the large size and the
large customer base to the corporation (Lancaster and Reynolds, 2005).
Another most effective entry mode is joint venture that helps a firm in entering a
market, risk/reward sharing, sharing technology, joint product development, and adhering to
government regulations. It also helps a foreign firm to develop political connection and
accessing distributional channel on the basis of relationships.
Franchising
In this mode the franchiser corresponds to transfer a package of products, systems and
services that it had explicated to a franchisee for a fee. The franchisee allows for local market
knowledge and entrepreneurship (Bhatia, 2008).
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14. 14
Entry Mode for Wal-Mart:
With the discussion of different entry modes usually used by firms, it becomes
apparent that the most significant mode for Wal-Mart to enter Indian retail sector is joint
venture as it gives it an advantage of highest control. As well as the country government has
also allowed multi-brand retailers to invest in India through alliances or joint-ventures. It is
essential to comply with given regulatory framework in India so, it would be better for Wal-
Mart to go for joint ventures (Pradhan, 2006).
Although, the Indian economy is growing significantly in regard to deregulation, but
still the Indian retail economy remains protected from foreign competition through rules that
usually limit direct investment by foreigners. In present, multi-brand retailers are not allowed
to do direct investment in Indian retail sector as well as are not allowed to own and operate
their own stores (Bhatia, 2008). To deal with this regulation and constraints, it is better for
Wal-mart to make an alliance with some Indian business like Bharti Enterprises, and Indian
business group. The company developed partnership with this Indian mobile company in
2007, but still it is not able to enter India due to opposition from trade unions. In addition to
this, the company could also make partnership with other Indian companies to enter Indian
retail sector.
The implementation of this entry mode could be done in the following manner:
Wal-Mart and other firm with which partnership would be done like Bharti Enterprise would
manage the supply chain together while Bharti Enterprise will be franchised to run the retail
operations. With this operating model, Wal-Mart would be exposed to probable challenges
regarding ownership and internalization dimensions of the eclectic mode. For successful
implementation of this selected entry mode, it is essential for Wal-Mart to make use of
operating model that is effectively defined and able to closely handle the venture.
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The company need to be patience in regard to how it works with an Indian firm. Wal-
Mart would bring great amount of supply chain and IT intellectual property to the decided
joint venture, which Indian company need to protect. In addition to this, it is also required at
the part of Wal-Mart to carefully understand the management of different relationships from
above discussed dimensions (Paul, 2010).
Implementation of Marketing Mix
Wal-Mart in India would offer a wide range of products which range from grocery,
home appliances, furniture, apparels, cosmetics, toys, toiletries, etc. Products of all major
brands would be available at this low price discount department store of Wal-Mart with its
brand name “Wal-Mart”. The stores would sell different range of specific product categories
as per the needs of Indian customers. Initially key focus would be given on grocery, toiletries,
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and cosmetics, and then later on the store would expand in different product categories
(Pradhan, 2006).
Price:
As company attained success throughout the world by serving consumers at low price
would also be maintained in India. In India, also it would operate with low pricing strategy
with an aim to attain an effective position in the Indian retail industry. The different pricing
strategies that would be used are:
Value Pricing: The stores in India would operate with a concept of “Every Day Low
Pricing” so that consumers do not have to wait for discount promotions.
Promotional Pricing: The Wal-Mart department stores in India would also offer
financing at low interest rate. The conception of psychological discounting like Rs.
99, Rs. 49, etc. would also be used a key promotional tool. As well, Special Event
Pricing would also be used such as nearby Diwali, Gudi Padva, and Durga Pooja.
Differentiated Pricing: Time pricing would also be used that pertains to difference in
rates on the basis of peak and non-peak hours or shopping days.
Bundling: Another pricing strategy that would be used is bundling that pertains to
selling combo-packs and providing discount to customers. The combo-packs are like
adding value for customers in Indian retail sector (Mehrotra, 2007).
Place
Initially, the Wal-Mart stores would operate in India’s large cities like Bombay, Pune,
Ahemdabad, Jaipur, Calcutta, Chennai, Surat, Banglore etc with around 15 outlets. Slowly
after starting its operations, it will expand aggressively in major cities of India.
Promotion:
The company stores would promote its products through several new and innovative
cross-sell and up-sell strategies generally used in Indian retail market. In addition to this, the
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different promotion techniques that could be used by Wal-Mart are “At Lowest Price”, “With
utmost value”, Smart Card (offering discount) etc. As well, it could also use brand
endorsement that most popular promotion technique in India. Exchange offers, point of
purchase promotions, advertising etc. would also play a significant role in building brand
(Bhatia, 2008)
Conclusion
With the help of above discussion, it becomes evident that the success of a
multinational company in a new foreign market depends on its all-essential considerations
and analysis. With an analysis of location specific advantage, cost and risk issues, value
chain, entry mode, marketing mix, it would become easy for Wal-Mart to enter India and
operate effectively.
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