Question Details

(solution) How to write a Executive Summary for this assessment?


How to write a Executive Summary for this assessment?


Executive Summary 1 Table of Contents

 

EXECUTIVE SUMMARY...............................................................................................................1

 

TABLE OF CONTENTS................................................................................................................3

 

INTRODUCTION............................................................................................................................4

 

1. 0 COMPANY AND PRODUCT ANALYSIS..............................................................................4

 

1.1 COMPANY DESCRIPTION.............................................................................................................4

 

1.2 PRODUCT DESCRIPTION.............................................................................................................5

 

1.3 COMPANY OBJECTIVES...............................................................................................................5

 

1.4 MARKET SEGMENTATION AND TARGET MARKET.......................................................................5

 

1.5 DOMESTIC MARKETING STRATEGIES.........................................................................................6

 

1.5.1 Distribution Channels.......................................................................................................6

 

1.5.2 Promotion...........................................................................................................................6

 

1.5.3 Pricing................................................................................................................................7

 

1.6 COMPANY RESOURCES TO GO OVERSEAS...............................................................................7

 

2. THAILAND.................................................................................................................................7

 

2.1POLITICAL, CULTURAL, ECONOMIC, SOCIAL AND TECHNOLOGICAL ENVIRONMENTS...................7

 

2.2 PRODUCT MARKET ANALYSIS.....................................................................................................9

 

3. SINGAPORE..............................................................................................................................9

 

3.1POLITICAL, CULTURAL, ECONOMIC, SOCIAL AND TECHNOLOGICAL ENVIRONMENTS...................9

 

3.2PRODUCT MARKET ANALYSIS....................................................................................................10

 

4 COMPETITOR ANALYSIS.......................................................................................................11

 

4.1 COMPETITOR IN THAILAND.......................................................................................................11

 

4.2 COMPETITOR IN SINGAPORE....................................................................................................11

 

5. BUYER ANALYSIS..................................................................................................................12

 

CONCLUSION..............................................................................................................................14

 

REFERENCES.............................................................................................................................15 2 Introduction

 

International marketing is the performance of business activities designed to plan,

 

price, promote and direct the flow of a company?s goods and services to consumers

 

or users in more than one nation for a profit. (Cateora, 2012) This business plan

 

outlines an international market assessment of Thailand and Singapore for Rokeby

 

Farms from MADE Group. The contents of this business plan will propose as follow:

 

1. Company objective and marketing strategy

 

2. Review the potential marketing elemts of Thailand and marketing opportunity

 

3. Review the potential marketing elemts of Singapore and marketing opportunity

 

4. Analynis the main and potential competitor in Singapore and Thailand market.

 

5. Analynis the potrntial consumer in Singapore and Thailand with Market

 

segmentation

 

6. Explicate the reason why we recommend entry in singapore and the entry strategy

 

Next is the conclusion for this international market assessment for Rokeby Farms. 1. 0 Company and Product Analysis

 

The analysis towards company and product is the first step of situational analysis.

 

The analysis and relevant recommendations of Made and its product Rokeby Farms

 

will be illustrated as follows: 1.1 Company Description

 

Made (Aust) Pty Ltd. is basically a successful Australian beverage company. It

 

started in 2005 by three schoolmates in Melbourne (Luke Marget, Matt Dennis and

 

Brad Wilson). Today it has offices and people in Melbourne, Sydney, Brisbane and

 

Perth (Made, 2016). Its revenue has increased to AUD65 million from 2013 to 2016,

 

and the annual growth was 50% each year, and its key brands have reached the

 

retail sales of AUD120 million (Sue Mitchell, 2016). 3 However, it?s not an average beverage company, nutrition is its unique selling

 

proposition in their beverage products. It is the first beverage company that infuse

 

vitamin in beverage with extended shelf life (Sue Mitchell, 2016). It has five beverage

 

brands in the market: Impressed (cold pressed juices), Rokeby Farms (high protein),

 

Cocobella (coconut water), NutrientWater (enhanced water) and Highlow (pure

 

spring water). All of them are nutrition-infused beverages which can be seen from

 

their features in brackets. 1.2 Product Description

 

Rokeby Farms, as one kind of dairy products, is one of the five beverages. Also, it?s

 

rich in high nutrition. The dairy ingredients are purely Australian made from selected

 

local farms near Melbourne, and Australian made food is an effective label to

 

increase its image. It contains all kinds of nutrition, in which high protein is its unique

 

selling proposition. The slogan of ?WHOLE PROTEIN? can be seen on the package,

 

and thus it is labelled as a breakfast drink. Besides being nutritious, its rich taste is

 

more attractive to customers.

 

Being nutritious and tasty make the product successful in marketing. It has 200%

 

growth yearly in sales in 2015, and the sale is forecasted to exceed AUD10 million in

 

2016 (Sotiropoulos, 2015). 1.3 Company Objectives

 

Made Company aims to enter Asia market specifically in Thailand and Singapore

 

after its success in Australia. It will use Rokeby Farms to enter these markets. It is

 

expected that by the end of 2017, exports of Rokeby Farms will reach 10% of its

 

overall sales, and 20% by 2018 (Sue Mitchell, 2016). 1.4 Market Segmentation and Target Market

 

Marketers usually use four dimensions to segment the overall market: demographic,

 

geographic, psychographic and behavioral dimensions (Chen and Gassner, 2012). 4 Among these four dimensions, demographic one will be used for its segmentation

 

considering its appropriateness in this case.

 

In terms of demographic elements useful in this case, occupation will be used. The

 

target market is busy professionals for Rokeby Farms as research shows that busy

 

people tend to choose quick and nutritious food and beverage like Rokeby Farms

 

(Enamoured Iris, 2014). This target market has been identified by Made Company

 

and the right identification helps it reach huge success. When expanding to market in

 

Thailand and Singapore, the target market should be the same one as it in domestic

 

market. 1.5 Domestic Marketing Strategies

 

Its domestic marketing strategies including distribution channels, promotion and

 

pricing will be analysed, and based on that recommendations are given. 1.5.1 Distribution Channels

 

The distribution channels of Made are also the key of its success. It has a large

 

national distribution network with 20,000 retail customers from independents to

 

Australian largest retail chains like Woolworths and Coles. After manufactured in

 

Melbourne, products are delivered to these retail customers in short time under the

 

supervision of over 20 sales representatives (Made, 2016).

 

For Rokeby Farms, as one of its five products, its distribution channels are complete

 

as well. Besides existing retail customers as the ones owned by Made Company, it

 

increased 2,000 additional key retailers in Petrol and Convenience Industry in 2015,

 

and its key expanded channels included 7-Eleven, Caltex, Coles and Woolworths

 

(Sotiropoulos, 2015). Its large network of distribution channels can help it reach

 

customers all around Australia within a short period of time. In its entry to new

 

markets in Thailand and Singapore, a complete network of distribution channels is

 

needed as well, so business with retail customers must be done before the entry,

 

and relationship with them is very important. 5 1.5.2 Promotion

 

The promotion tool Rokeby Farms used mostly is online advertisement. On one

 

hand, it has its own page in social media like Facebook and its own website, which

 

helps it promote and advertise; on the other hand, it has video advertisement on

 

YouTube to introduce its products in details. To enter the new market, online

 

advertisement can also be used, but it needs to focus on popular online media in

 

these two countries. 1.5.3 Pricing

 

Its pricing in Australia is very reasonable. It is sold AUD3.99/425 ml. The price is not

 

high comparing to its direct competitive nutritious breakfast drinks. For example, one

 

of its direct competitors, Wholey Foods Breakfast Smoothie is priced as

 

AUD9.50/500g (Woolworths Online, 2016). This price is not too low either which

 

allow it has profits. 1.6 Company Resources to Go Overseas

 

The Made company has enough resources to go overseas. It can be seen from its

 

rapid growth and high annual revenue mentioned above. Moreover, in order to

 

extend the shelf life of fresh milk which is very essential for entering Asian market

 

due to the longer delivery distance and delivery time are needed, the company has

 

invested over AUD20 million in ultra-clean processing technology. With the new

 

technology, the time has extended from 30 days to 100 days which gives its

 

important foundations for its launch in Thailand and Singapore (Sue Mitchell, 2016). 6 2. Thailand

 

2.1Political, cultural, economic, social and technological

 

environments

 

Nowadays Thailand has been more open than before and the domestic market is

 

more suitable for the entry of foreign companies. Besides, dairy industry is a typical

 

type of civil industry which are not politically sensitive. Therefore, the macro

 

environment will not create serious obstacles for Rokeby Farms. However, Thailand

 

is, after all, a developing country and its market mechanism has not been well

 

established (Rubinstein & Udenfriend, 2011). Considering this aspect, it is still possible that MADE Group will be confronted with some protectionism during the

 

entrance. As for the PEST analysis and comparison, it can be summarized as follows: Political Aspect: Australia is politically stable while Thailand is relatively unstable in

 

comparison. The benefits of MADE Group in Thailand may be influenced with the

 

change of the political environment. However, the policy of the two countries both

 

support the market economy, which will provide much convenience for Australian

 

products entering Thailand market. Economic Aspects: Australia is a developed country while Thailand is a developing

 

country. Therefore, there may be much difference between the consumption view

 

between customers in the two countries. Australian customers may focus more on

 

the quality of the dairy products whereas Thai customers may pay more attention to

 

the prices. Therefore, the market strategy for MADE Group should be different

 

between Australia and Thailand. Quality orientation should be stressed in Australia

 

while price orientation may be more suitable in Thailand. 7 Social Aspect: Australia is typical western country while Thailand is an eastern

 

country. There is much difference between the western culture and eastern culture.

 

Therefore, the social and cultural difference may affect the market in dairy market

 

strategy. MADE Group should try to avoid cultural offense during the market

 

entrance. Technological Aspect: Obviously Australia has an advantage over Thailand in

 

technological aspect. Thailand is more advantageous at raw materials. Therefore,

 

MADE Group can take advantage of the local resources, such as labour forces and

 

raw milk and make profits with its advantage of dairy manufacturing technologies. 2.2 Product Market Analysis

 

Due to the historical reason, the economy of Thailand has fallen behind in the past

 

decades. Although dairy farming has been launched in such an early time of the year

 

1956, the dairy market in Thailand has never been fully explored. Thailand has

 

always been a producer of raw milk, but in recent years, as the economy is

 

developing rapidly and people are starting to pursue a high quality life, the demand

 

of dairy products is also increasing. The import of diary products is improving and the

 

milk consumption keeps increasing from 550 thousand tons to 763 thousand tons in

 

the past decades, with the average growth rate at 3%~5% (Sarah, 2014). It has

 

been reported that milk powder becomes the main products imported into Thailand

 

and the main sources are Australia and New Zealand. In the future, the demand of

 

milk product will keep improving since Thailand is keeping a rapid progress. Besides,

 

Australian milk products have established a good reputation in Thailand and are

 

welcomed by Thai customers. Currently, the information technology has not been

 

widely spread in Thailand except some large cities. Therefore, the major forms of

 

marketing channels are still retailers offline. 8 3. Singapore

 

3.1Political, cultural, economic, social and technological

 

environments

 

Singapore is very similar to Australia in both politics and economy. The similarity may

 

provide convenience for the entrance of Australian company on one hand

 

(Benvenuti, 2012), however, on the other hand, it also indicates that MADE Group

 

will be confronted with more strong competitors from local companies in Singapore

 

and it may be more challenging for MADE Group to build a distinct advantage. As for the PEST analysis and comparison, it can be summarized as follows: Political Aspect: Both Australia and Singapore possess a stable political environment

 

and they all have a well-established market policy system. All these factors

 

guarantee the trade cooperation continue in the long term. Economic Aspects: Both Australia and Singapore are developed countries and has a

 

high level of economic development. Customers in the two countries all have a

 

relative high living standard and they share similar consumption view. Therefore, the

 

market strategy for MADE should place high priority on the quality of dairy products. Social Aspect: Australia is typical western country while Singapore is more eastern

 

because there is a large majority of ethnic Chinese in Singapore. Therefore, MADE

 

Group should be concern about the eastern customary while entering the Singapore

 

market. Technological Aspect: Australia is majoring in dairy industry while Singapore is not

 

advantageous at this aspect. Therefore, Australia should be more advantageous in 9 the technological aspects. MADE Group should take advantage of it to win a good

 

reputation in the dairy market of Singapore. 3.2Product Market Analysis

 

Singapore is a well developed country and people are enjoying a high living quality,

 

therefore, the demand of dairy products is also kept at a high level and is expected

 

to be increasing in the future. The dairy market of Singapore possesses a various

 

category, which includes cheese, milk, soy products, yogurt, cream, and so on. It has

 

been reported that Singaporean dairy market had total revenues of over 634 million

 

dollars in 2013 and the annual growth rate is keeping at approximately 5.5% in the

 

past five years between 2009 and 2013 (Alacra Store, 2014). Meanwhile, it is

 

predicted that the annual growth rate will be 4.9% for the next five years, from 2013

 

to 2018. The market value will reach to over 800 million dollars by the end of 2018

 

(Alacra Store, 2014). As for the main sources of dairy products in Singapore, it

 

comes from both home and abroad. The main import sources include European

 

countries and America. Furthermore, the computer and internet technology have

 

been popular in Singapore, therefore, the channels for the dairy market include both

 

online retailing and offline retailing. 4 Competitor Analysis

 

4.1 Competitor in Thailand

 

Thailand is not only a great place to travel, but also it is famous for its milk product.

 

Dutch Mill has become the largest milk product in Thailand in the recent years. This

 

company has a large ambition which is to provide the best diary products in Asia.

 

And also it adheres to improve the customer satisfaction and stand at the forefront of

 

the global scene with the improvement of efficiency and competiveness. Dutch Mill

 

established one new product lines which is including Dutch Mill pasteurized drinking

 

yoghurt and UHT drinking yoghurt in order to increase production capacity and meet

 

the increasing demand. What is more, with the development of the company, the

 

second manufacturing has been opened and operates world-class management

 

tools such as MRPII, SAP, TQM and TPRM. It leads to enhance the competiveness 10 and efficiency of the organisation. Nowadays, Dutch Mill has exported to lots of

 

SEAN countries, including Singapore, China, Brunei, Vietnam, the Philippines,

 

Malaysia, Indonesia, Laos, Cambodia and Burma. There is also a large plan for the

 

company which is to expand its products to the other part of the world.(Dutch Mill

 

group 2012) 4.2 Competitor in Singapore

 

When people talk about milk in Singapore, everybody will think about F&N Magnolia.

 

It is obvious that Magnolia has a huge impact on milk product. Magnolia is born in

 

1937 by Fred Heron and slowly becomes the most famous company in Singapore.

 

With the wide farmland and imported cows, Singapore Dairy Farm became the

 

important manufacturing industry in 1940 and it provides the fantastic milk for F&N

 

Magnolia. Then in 1964, there are two kinds of milk that are introduced into F&N

 

Magnolia?s Portfolio which includes bottled milk and condensed milk. So that it

 

shows the rapid growth of F&N Magnolia?s drink range. F&N Magnolia also improved

 

its milk packaging because of the environmental protection and there is a good

 

promotion by the colourful pictures. Now, in order to satisfy more customers, F&N

 

Magnolia launched many different kinds of flavours such as apple, mango and mixed

 

berries. According to these reasons, F&N Magnolia has been awarded HACCP as

 

well as ISO 9001, 2008 certifications and it means that the product in F&N Magnolia

 

gets the high quality and safety. Of course, F&N Magnolia provides the best milk for

 

people in Singapore and it believes that keeping one health style is the most

 

important strategy which means that people needs to choose and eat the right food.

 

It understands the need of nutrition change as people grow and actually F&N

 

Magnolia invests in R&D to get the development and innovation of products which

 

are healthy and nutritious for the customers at all stage of their lives. Above these,

 

F&N Magnolia becomes more popular than other same company and it has exported

 

to other countries as well such as Malaysia, Philippines, China and etc. 5. Buyer Analysis

 

The target market for the milk product is probably those people who want to have a

 

healthy life style and get nutrition balanced. The buyer analysis is to help Made

 

11 Target Market The target market of Made Group is those people

 

who want to have a healthy style and balanced

 

nutrition. When children grow up, they need to

 

have milk for better health and also the milk

 

increases the immunity of humans. What is more,

 

more and more people will drink milk because of

 

the various kinds of flavor,

 

Demographic Segmentation

 

For those who want to have a healthy lifestyle

 

Psychographic Segmentation For people who want to taste the milk with the

 

different flavor.

 

Geographic Segmentation

 

Developing country Thailand and Developed

 

country Singapore

 

Behaviouristic Segmentation After enjoying different flavor, people will come

 

back to choose the appropriate kinds of milk as

 

their favourite and consumer a lot.

 

Benefits

 

By locating the milk product in Thailand or

 

Singapore, people in those two countries could

 

enjoy the milk product which is from Australia and

 

it can provides good reputation for the good

 

quality of milk. What is more, people can have

 

more good milk product which can be afford.

 

Also, the sales must raise up because of the

 

increasing demand.

 

Who is the Customers

 

All those people who enjoy milk and want to have

 

a healthy life style especially children and the

 

elderly.

 

Group realize which country it should entry?Thailand or Singapore. This buyer

 

analysis will include the target market, the real demand and benefits for locating

 

Made Group. 12 Conclusion

 

International marketing research is important for any company to expand

 

internationally. The international market assessment of Thailand and Singapore for

 

Rokeby Farms from MADE group helps to analyse the various factors that needs to

 

be considered before expanding internationally. The two countries will be compared

 

and the one which will suit the most will be preferred for expansion. The political

 

conditions, demand, purchasing power of the buyers, competition etc. Contingent

 

upon your organization's level of assets, destinations and product competitiveness,

 

the number of foreign markets to target all the while and the determination procedure

 

used to figure out what markets to seek after will vary impressively. For instance, if

 

your organization is little and new to global exchange, your staff and level of assets

 

designated to seeking after worldwide exchange will probably be restricted.

 

Subsequently, it might be shrewd to concentrate on less outside business sectors one to three - as opposed to numerous. This will ideally keep the spreading of your

 

assets too thin [Sta]. 13 References

 

Cateora. McGras-Hill Australia Pty Ltd PPTs t/a international marketing.

 

https://lms.latrobe.edu.au/mod/resource/view.php?id=2129083

 

Agr. (2014, June). Market Overview - Singapore. Retrieved from Agr:

 

http://www.agr.gc.ca/eng/industry-markets-and-trade/statistics-and-marketinformation/agriculture-and-food-market-information-by-region/asia/marketintelligence/market-overview-singapore/?id=1418411806959

 

Intracen. (n.d.). Country Profile Thailand. Retrieved from Intracen:

 

http://www.intracen.org/exporters/organic-products/country-focus/Country-ProfileThailand/

 

Paliwoda, S. J. (n.d.). International marketing: an assessment. Retrieved from

 

Emerald Insight:

 

http://www.emeraldinsight.com/doi/abs/10.1108/02651339910257601

 

Paul, J. (2008). International Marketing: Text and Cases. Tata McGraw-Hill

 

Education. Chen, S. and Gassner, M., 2012, ?An Investigation of the Demographic,

 

Psychological, Psychographic, and Behavioral Characteristics of Chinese Senior

 

Leisure Travelers.?, Journal of China Tourism Research, 8(2), pp.123-145.

 

Enamoured Iris., 2014, Rokeby Farms: Escalator. [online]

 

?http://enamourediris.com.au/portfolio/rokeby-farms-escalator/ ?[Accessed 1 Oct.

 

2016].

 

Made., 2016, About Made. [online]?http://madegroup.com/about-made/ ?[Accessed

 

1 Oct. 2016].

 

Sotiropoulos, D., 2015, Rokeby Farms: Premium protein driving significant growth Convenience & Impulse Retailing. [online] Convenience & Impulse Retailing. 14 ?http://c-store.com.au/2015/10/08/rokeby-farms-premium-protein-driving-significantgrowth/ ?[Accessed 1 Oct. 2016]. Sue Mitchell, B., 2016, Australian beverage company MADE is heading to Asia.

 

[online] Business Insider Australia.http://www.businessinsider.com.au/australianbeverage-company-made-is-heading-to-asia-2016-5 [Accessed 1 Oct. 2016].

 

Woolworths Online., 2016, Woolworths Supermarket - Buy Groceries Online. [online]

 

https://www.woolworths.com.au/Shop/Search/Products?searchTerm=breakfast

 

%20drink [Accessed 1 Oct. 2016].

 

Dutch Mill(2012), Company information, http://www.dutchmill.co.th

 

J Paul Peter(2010), CONSUMER BEHAVIOR AND MARKETING STRATEGY,

 

Mcgraw Hill Higher Education; 9th Revised edition edition

 

Agr. (2014, June). Market Overview - Singapore. From Agr:

 

http://www.agr.gc.ca/eng/industry-markets-and-trade/statistics-and-marketinformation/agriculture-and-food-market-information-by-region/asia/marketintelligence/market-overview-singapore/?id=1418411806959

 

Intracen. (n.d.). Country Profile Thailand. From Intracen:

 

http://www.intracen.org/exporters/organic-products/country-focus/Country-ProfileThailand/

 

Paliwoda, S. J. (n.d.). International marketing: an assessment. From Emerald

 

Insight: http://www.emeraldinsight.com/doi/abs/10.1108/02651339910257601

 

Paul, J. (2008). International Marketing: Text and Cases. Tata McGraw-Hill

 

Education. 15 16

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Jan 30, 2021

PRICE: $15

Solution~0001001333.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Jan 30, 2021

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.

Order Now