Research Development International Market - Myassignmenthelp.Com

Question: Discuss about the Research Development InternationalMarket. Answer: Company and brand analysis Canada Goose is one of the major clothing company for self made clothing styles and the huge collection of winter clothes is crafted with sheer excellence rather than being tailored. It is one of the most famous custom-made clothing companies in Canada that manages exporting of good quality goose winter wears to Switzerland because of good trade relations between these two countries (Canadagoose.com, 2018). Strengths and weaknesses in respect of entry to foreign markets Facts One of the major strengths for the brand to enter foreign markets could be the international business expansion and ability to generate more revenue in business. The weaknesses could include lack of understanding the different culture and perception of customers, which might create difficulties in determining the needs and preferences of other customers in the foreign market. Switzerlands nominal GDP is 659.87 billion USD and the Canadian direct investments nearly 8030 million CAD, due to which, it has become easy for Canada Goose to enter the foreign markets with ease and effectiveness (Ford Leonidou, 2013). Implications for product marketing strategy The economy of Switzerland is very much innovative and competitive, which has allowed for better entrepreneurship and higher production level. The labor laws, rules and regulations are flexible and the political corruption tends to be on the lower side, which has given the clothing company to grow and expand properly. Both the countries share a common language, which makes it easier for the CCC to export its products by getting accustomed with the culture and at the same time, understand the customers requirements. Thus the language barriers were overcome, which provided enough scopes for managing global business and thus was considered as a major strength (Laufs Schwens, 2014). Another major strength is the high expenditures by Government and it is nearly 33 % of the total GDP. The cold climatic conditions made it better for the Canadian clothing company to enter the foreign markets, export the best quality goose winter wears to Switzerland for keeping the people warmer, and even i ncrease the customer base for consistent profit achievement. The no import tariff cases further allows the brand to increase demands in the foreign markets for the Canadian goose wears. The currency exchanges would be managed easily as well because of the effective financial systems, furthermore could promote international business perfectly (Yang, Su Fam, 2012). The laws implemented take lots of time to obtain good results and sometimes the economic conditions are not stable enough, which might also create issues while entering the foreign markets. The exporting might cost huge amounts of money, which might make the brand increase the prices of products and this could be a major drawback. While entering foreign markets, failure of operations could spread across multiple companies too. The company could also use social media and other digital media technologies for keeping contacts with the customers and enhance the brand image and name (Zhou, Wu Barnes, 2012). History of brand and future prospects Facts Canada Goose is known for its excellent quality winter clothes and is one of the subsidiary of Canada Goose Holdings. Canada and Switzerland, both have strong and diverse commercial relationships, due to which, the trade activities, investments and innovations have been possible. The Free Trade agreement with the European Free Trade Association also helped in creating a strategic platform for Canada to expand business globally through international tie-ups all throughout the European countries including Switzerland. Canadian Goose brand name has improved in the past few years because of its delivery of custom tailored clothing and fashion items to Switzerland and this kept the customers satisfied too (Berthon et al., 2012). Implications of products marketing strategy Canada Goose wants to expand business globally by entering foreign markets in Switzerland and even created a positive mindset among the customers by managing business sustainably. The company exported the finest quality goose wears made of natural fabrics to enhance the comfort level and remain sustainable by maintaining an ecological balance in nature. The product standardization marketing strategy helped in maintaining cost benefits along with management of quality consistently (Canadagoose.com, 2018). This enabled to reduce the costs of products that were exported without compromising on the quality and kept the customers satisfied. The products category consisted of parkas, bombers, light weight jackets, etc. that were exported and made available at lower prices, thereby kept the customers satisfied as a whole too. Extreme cold conditions would make it easy for the brand to establish a good brand presence in the market within the rich economy with such high quality fabrics used f or the clothing items available at reasonable prices, customers would be satisfied and the profit level would increase for Canada Goose (Ford Leonidou, 2013). Conclusion From the report, thorough understanding about entering the foreign markets of Switzerland to ensure global business success was possible. Due to the good trade relations and sharing of common language, Canada Goose had managed expand business globally with ease. The nominal GDP was 659.87 billion USD and Canada, being one of the major foreign investments with over 8030 million CAD, the international marketing was easier than expected. With the extremely cold weather conditions, the jackets, parkas and bomber jackets exported by Canada Goose gained a lot of attention among the customers in the foreign markets. The best quality natural fabrics were used and the prices were also kept reasonable, which further created ease while entering the foreign markets. References Berthon, P. R., Pitt, L. F., Plangger, K., Shapiro, D. (2012). Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy.Business horizons,55(3), 261-271. Canadagoose.com. (2018). Canadagoose.com. Retrieved 7 January 2018, from https://www.canadagoose.com Ford, D., Leonidou, L. C. (2013). Research Developments in Interna-tional Marketing.New Perspectives on International Market-ing, edited by SJ Paliwoda, 3-32. Laufs, K., Schwens, C. (2014). Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda.International Business Review,23(6), 1109-1126. Yang, Z., Su, C., Fam, K. S. (2012). Dealing with institutional distances in international marketing channels: Governance strategies that engender legitimacy and efficiency.Journal of Marketing,76(3), 41-55. Zhou, L., Wu, A., Barnes, B. R. (2012). The effects of early internationalization on performance outcomes in young international ventures: the mediating role of marketing capabilities.Journal of International Marketing,20(4), 25-45.