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Marketing-Led Business Development Plan for expansion into new and emerging markets

Category: Business & Management Paper Type: Report Writing Reference: APA Words: 3285

Product-Led Growth Strategy for Product Managers - Product School


Executive Summary

Holland and Barret the UK’s leading health and wellbeing store making market arrangements in Nigeria. Nigeria is a financially backward nation but it is slowly evolving into an agricultural nation so this finds one reason to create a market there. As the world sees a shortage of vitamins and health products due to the constant advertisement of fast food and unhealthy diets, establishingour franchise there would impact lives for the better on a continental scale. A SWOT analysis can enable the creation of Holland and Barrett's international business processes. However, the hand can be used to manage the delivery of the International Business Development Plan. Holland and Barrett can see consumer loyalty and increased profitability by choosing a competent business development plan.

 

Table of contents

Executive Summary. 2

1. Introduction. 5

2. External Influence. 5

2.1 Environment 5

2.1.1 Political Factors. 5

2.1.2 Economic Factors. 6

2.1.3 Social / Cultural Factors. 6

2.1.4 Technological Factors. 7

2.1.5 Legal Factors. 7

2.1.6 Environmental Factors. 7

2.2 Market 7

2.3Customers. 7

2.4 Competition. 8

2.5 Suppliers & Alliances. 9

2.6 Internal Influences. 9

2.6.1 Capabilities. 9

3. Analysis. 10

3.1 SWOT analysis. 10

3.1.1 Strengths. 10

3.1.2 Weaknesses. 10

3.1.3 Opportunities. 11

3.1.4 Threats. 11

4. Conclusion. 11

5. Objectives. 11

5.1 Financial 11

5.2 Marketing. 12

5.3 Strategies. 12

5.3.1 Product 12

5.3.2 Price. 12

5.3.3 Place. 13

5.3.4 Promotion. 13

References

1.      Introduction

As the condition of the Nigeria is evolving, there is a high need that certain markets should be developed in the region which will help the economy of the place to grow. A large ratio of vitamin deficiency has been observed in Nigeria, so, it would be a beneficial idea to deal with the market of medicine. Holland and Barrette have been working successfully in providing the medical services. It is an organization of United Kingdom. With their collaboration, the vitamin deficiency can be improved in Nigeria.

2. External Influence

2.1 Environment

2.1.1 Political Factors

For more than fifteen years now Nigeria has been operating under a civilian government. Nigeria operates in a multi-party framework with more than a dozen ideological groups. In any case, there are only two ideological groups present, one taking on the task of resistance. The ruling and flowing party has lion seats in both the top and bottom offices of the government administration. During this time of sharing based on popularity, there have been changes in government. The most recent major shift in the government, where the term of office is 4 years, that occurred last year was similarly fixed in the decision-making body. Following on from thismit’s clear the country had been preparing for another political race. For those that work in Nigeria are seeking employment should be aware of the expenditure; organisations that include the media or printhave recorded making huge profits at this time. The last difference in government that happened last year was similarly fixed in the decision-making body. The term of office is four years. In this way, in 2018, Nigerians will be ready for another political race. Anyone who needs to work in Nigeria, I would like to quickly point out that the races here are shown spending a lot of money. Therefore, organisations that involve the media and print for the most part are recording huge profits at this time(Campbel, et al., 2011).

For temporary workers, the year of the political race may not be the right time to confirm the agreement without you having to make sure your contract is charged before the political race ends. The implication is there is a tendency for current businesses to liquidate if there is a correction in government. The current situation may worsen if the powers that bechosen to adoptconflicting ideologies. New governments often choose to seek out their system, which may be more impressive than the previous government.

2.1.2 Economic Factors

Currently, the financial situation in Nigeria is not so bright. Nigeria as a nation has been a mono-economy that relies entirely on oil wages. With the current increase in the oil market, national income has dropped dramatically. As Nigeria operates a government system with three specific levels of government; Governments, States, and Local Governments, revenue must be allocated to all levels of government. In revenue, payments to States and Local Government are not sufficient to cover their recurrent expenditure. Shockingly, many Nigerian states are unable to show off their huge domestic revenue. As a result, some of them are unable to pay the salaries of employees who pay back four to more months' reimbursement. The result is a lack of cash flow from people. In line with these lines, this is not the ideal opportunity for expensive acquisitions. People will have the opportunity to use their affordable goods for essentials, especially food items (Kourdi, 2015).

Another financial factor one should consider is the level of unemployment in Nigeria. The youth unemployment rate is set at 21.5%. The financial benefits of this are that this can lead to injustice and other social ills. We all just see that an empty hand is a workplace for a demon. With a variety of hands, this means that entrepreneurs can do decent work. It will save money on any business growth business that will be in Nigeria. And, of course, it will help foreign countries to redistribute any increased employment for their business in Nigeria.

2.1.3 Social / Cultural Factors

Populace: Nigeria has an expected population of 181.56 million people since July 2015. It has the most significant population in Africa and ranks seventh in the world. It is for this reason that Nigeria is identified as the great beast of Africa. The market power here is enormous. In previous years, apart from the state of emergency in the country, the most unusual speculation has been on the rise. For example, the interest in the Telecommunication business was very strong. As of April 2016, the Nigerian Communications Commission has detailed 147.57 million flexible numbers. Population size is enough to attract speculators to the nation.

Race / Religion: Nigeria is expanded in terms of ownership and religion. In any case, we commend our unity for diversity. Working together in Nigeria requires you to understand the religion and social equality of each circle. Religion is very specific in Nigeria and is a particularly touching story. The two most important religions in Nigeria are Christianity and Islam. You don't have to have a place in any religion but you need to look at people with a bunch of religions who have a place with them.

2.1.4 Technological Factors

Not at all like before, Nigerians quickly turned to PC intelligence. The vast majority of Nigerian youth have been educated on PC. Aside from the fact that workstations and PCs remain expensive for some people, the use of Smartphones in all accounts overcomes this problem. With Smartphones, most people are currently active web clients online. We have currently evaluated the number of 86.22 million web customers that provide 46.10% penetration. In this way, for anyone who needs a partner in Nigeria, online ads become a popular way to reach targeted customers (Morris, 2013).

2.1.5 Legal Factors

In Nigeria, the law stipulates eighteen thousand naira’s per month as the lowest allowance allowed by law. In any case, you are getting a ton of organisations that include governments that pay less than the minimum amount allowed by law. This may be due to the intense competition in the labour market due to the high rate of unemployment in the nation. Truth be told, this is one of the reasons that any organisation that needs to reduce the cost of its employees to move to Nigeria is part of their business to fund their power.

2.1.6 Environmental Factors

The Federal Government of Nigeria plays a critical role in ensuring the nation's identity. Besides, each State works with specific data or mechanisms that ensure that the climate is spotless to prevent the spread of infection. Due to the lack of power, the level of noise and air pollution from the power generation sets is high. This affects the private, business, and mechanical areas separately.

2.2 Market

The Nigerian market is currently costing the expected $ 3 billion of luxury items, according to Euro monitor International, and its value is likely to increase, with a growing number of working women earning more money as black youth seek better ways to focus and introduce them. Game additives are popular.

2.3Customers

Our potential customers:

• Children [0-14year]

• Youth [15-24 year]

• Adult [25-64 years]

• Athletes, health authorities, and pharmacists

2.4 Competition

§  New entrants

§  Risk level: High

The Holland and Barrett object will face stiff opposition from many new entities that will enter the industry as conservation power is needed to become a global energy source by 2040. This means more money will be invested in the business as organisations will try to develop new technologies to gain a market edge. It will be difficult to deal with the large existing organisations that are entering the new industry. This is because they now have an organisation built to accelerate the idea of ​​what is available for purchase (Regli, 2016).

§  Bargaining power

§  Risk level: Low

Our Nigerian clients are facing a lack of alternatives and are eager to take care of something that works effectively. However, a balance is needed between costs and what the average client can afford. However, if the item is made in partnership with the Nigerian government and the agreement is made in bulk, then the Nigerian government will then be available to plan the least expensive cost. Otherwise, this will require Holland and Barrett to be the sole provider of government-backed battery packs.

§  Suppliers

§  Risk level: Medium

If a merger with the Nigerian government can be agreed it will allow us to buy parts of our item in bulk from suppliers. This means that the instalment can be made in bulk and that can give credibility to both Holland and Barrett and the provider. This is because there will be an unpredictable collection of goods for Holland and Barrett and there will be no revenue from the supplier. This may also allow the organisation to set reasonable costs for the provider.

§  Substitute Products

§  Risk level: Medium

It would be very difficult to differentiate our object into various categories by comparison categories without having a USP. This means that our object must be greatly improved each year by offering something of a higher value at a lower cost without cutting back on our overall salary (Spender, 2014).

§  Competitive Rivalry

§  Risk level: High

The packing industry is now frustrated by a handful of organisations that currently have a very large pie. In any case, the business as a whole grows. The controversy is wild but it positively affects how people in general view things like Holland and Barrett which is why we are turning our biggest risk into an expected opportunity.

2.5 Suppliers & Alliances

• Photo of a parent of the United Kingdom.

• HTC Health started offering Holland and Barrett.

• HTC trusted product and has an unusual 40-year exchange of information

• HTC Health provides high-quality Holland and Barrett brand development

• Holland and Barrett operate 1300 stores in 16 nations worldwide.

• One of the most popular and well-stocked stores.

• Health and nutrition retailer Holland and Barrett have secured a £ 20m (€ 25.44m) deal with India's Apollo-Hospitals clinics, an understanding that will see 1000 stores open throughout India over the next five years.

2.6 Internal Influences

2.6.1 Capabilities

• Establishing a strong management team can be by hiring externally or internally

• Top executives lead the organisation and middle-level managers participate in implementing the global marketing process

• Nigeria has a monetary capacity of 111.1 million people, according to the NBS.

• Find the key balance between the objectives of the categories and activities

• Improve resources and planning to encourage a concerted effort

• The appropriate range of skills and competencies of representatives should be judged

• Identifying customer needs and consolidating the capacity to deliver after deal management.

3.Analysis

3.1SWOT analysis

3.1.1Strengths

As consumer sentiment changes slightly, this multi-function card allows customers to maintain a direct distance from the trouble of passing a few Barrett, but more so to all genres under the Jay Gee family. Therefore, the participation card enables the organisation to invest in the markets and rends, by helping to make the presence of brands such as Holland and Barrett, popular. This is because a customer at Levies and Aledo can detect the presence of Holland and Barrett through a card (Ciotti, 2016).

Strength of the organisation is that much of Melanin has put a lot of effort into developing itself as an organisation that receives high-quality products and a certain royal family. This writes why the organisation maintains a specific decision of its store locations in shopping malls and not at retail outlets located in dormitories. The organisation also advertises products that it conveys in-depth in glittering newspapers and especially in English newspapers, especially in the Straits Times.

3.1.2 Weaknesses

While the Melanin Group has a site, its establishment, Holland and Barrett have no active site, or Backbone or Twitter pages. The nearby centre has just a flag that symbolizes current business development (Holland and Barrett, 2013). This is the difference in the existence of a powerful web parent organisation in I-J. In I-J, Holland and Barrett have a functional Bessie, but besides is a Backbone page and an app with a variety of functions. Re-enact SWOT Analysis

Other than that, the IJJ site and the portable system are not as helpful to the Singapore client as the material limitations are in real pounds, and a large batch of items are not available in Singapore stores. Apart from that, such inconsistencies can confuse the Singapore client as the I-J site and the various uses including the range of materials and management provided to I-J, but not available in Singapore.

3.1.3 Opportunities

A concerted effort by organisations Holland and Barrett can work with high-quality regulatory agencies to advance their social aids, especially natural resource organisations. This adds to the range of their stuff, which replicates, finds more clients, and opens up those clients to Holland and Barrett results. Confirmation of sales for future emergency clinics As MOM (Ministry of Health) has reported that there will be 4 more clinics and 12 more rebuilt clinics. Holland and Barrett also participated in the provision of commercial space.

I completely DO NOT understand any of this.. why would you open a holland and barrett store in a dormintary?

3.1.4 Threats

Government strategies for extraordinary skills some of the increasing costs are high labour costs all the organisations in Singapore face, as management needs to use additional Singapore, due to strict labour laws restricting extraordinary work. This will also affect the criticalness of the institution. Currency Exchange Rates as Jay Gee imports enhancements from Europe directly. Money plays an important role that will affect the amount of money an organisation can make. In this case, the real pound will continue to perform impressively as shown in the ratings.

4. Conclusion

Nigeria is a financially backward nation but it is slowly evolving into an agricultural nation so this finds one reason to create a market there. As the world sees a shortage of Vitamins so establishing a medical services organisation will be beneficial for everyone. SWOT testing can enable the creation of Holland and Barrett's international business processes. However, the hand can be used to manage the delivery of the International Business Development Plan. Holland and Barrett can see consumer loyalty and increased profitability by choosing a competent business development plan. External impacts such as opportunities and risks as well as internal impacts such as the strengths and weaknesses that existed in the association were distributed to establish their organisation in the Nigerian market.

Please write a better conclusion than this lame attempt. What have you gained from the research why is it possible to open holland and barrett in Nigeria and why would it thrive? What can stop it etc..

5. Objectives

5.1 Financial

• Increasing deals with compliments.

• To increase profits by 25% per annum.

• Increase development by 10% in 3 months.

• Reaching the target market by showing new features on the online site.

• Innovating according to the needs of Nigerian customers.

5.2 Marketing

• Building a strong product.

• Deliver messages and benefits through web-based media advertising.

• Benefits to the community through Health screening and workshops by our prepared representatives

5.3 Strategies

5.3.1 Product

This item may be undoubtedly honourable or an invisible organisation that seems to meet certain needs or the customer. All things take place in an understanding life cycle and sponsors need to understand and prepare for the various stages and their positive challenges. It is fundamental to understanding those issues that are trying to understand. The attractive conditions offered by an object and all its components should be understood and the proposal for the contribution of the object should be focused on it. What mom, potential buyers of the item should be seen and get into.

5.3.2 Price

The price includes everything real the end customer relies on for a specific payment. How an item is tested will affect how it contributes. This is associated with a more detailed evaluation of the item for the customer rather than the cost of the item being offered. If the item tested is higher or lower than its explicit quality, then it will not give it to you. This is an important key to seeing how a customer perceives what you are advertising. If there is a positive customer consideration, rather than an item being tested with greater success than the intended cash-related value? On the other hand, in the unlikely event that an item does not interest an individual buyer, then it may be that the offer is being undermined. Costs can be equally affected by the construction of orchestrates, by looking at the cost of chains and marks and how competitors value a competitor (GOVINDARAJAN, 2007).

5.3.3 Place

The spot is the part where the stock and additional organisations are moved from the creator/organisation provider to a customer or client. Besides, it is recommended a distribution, channel, or arbitrator. The successful distribution of your item/organisation does not depend solely on the transportation item. You have to think the same about your customers - where would they want to go to find things/organisations like yours? It is therefore important that you select the appropriate broadcast channels.

5.3.4 Promotion

Development is about communicating effectively with your customers so they are encouraged to buy from you. You need to upgrade to both existing and upcoming customers, which can include each upgrade differently.


 

References

Campbel, D., Edgar, D. & Stonehouse, G., 2011. Business Strategy: An Introduction. s.l.: Macmillan International Higher Education.

Ciotti, G., 2016. The Psychology of Color in Marketing and Branding. [Online]

Available at: https://www.entrepreneur.com/article/233843

GOVINDARAJAN, M., 2007. MARKETING MANAGEMENT. s.l.: PHI Learning Pvt. Ltd.

Kourdi, J., 2015. The Economist: Business Strategy 3rd edition: A guide to effective decision-making. s.l.: Profile Books.

Morris, B., 2013. 10 Colors That Increase Sales, and Why. [Online]

Available at: https://www.business2community.com/marketing/10-colors-that-increase-sales-and-why-0366997

Regli, T., 2016. Digital and Marketing Asset Management: The Real Story about DAM Technology and Practices. s.l.: Rosenfeld Media.

Spender, J.-C., 2014. Business Strategy: Managing Uncertainty, Opportunity, and Enterprise. s.l.: OUP Oxford.

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