Global Expansion to Expand Operations

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Global expansion
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Introduction

• Global expansion states about the planned
  enhancement in the activities performed by the
  business.
• It is done in various countries of the world so
  as to expand operations as well as product lines
  with different technologies.
• Main motive behind this is to grab larger market
  area and also market share.

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• Ben Sherman is doing its business at global level
  approximately in 35 countries.
• By this, it has increased its goodwill as well as
  number of customers in throughout the world.
• By investing in other nations, it has made its
  presence in other countries too.

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Importance of global expansion

• From customer perspective, it is important as in
  present scenario people wants product that has a
  global image.
• Brand image of the product increases through
  this.
• Competitive advantage of latest technology can be
  gained by working globally.

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• From company point of view, international
  expansion provides opportunity to capture new
  market with increase in its sales and so as to
  their profits.
• Through this, many types of new skills, abilities
  and knowledge also comes to company which helps
  it in fulfilling their objectives.

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Factors need to b e before going globally

• Investment Before going at global level, Ben
  Sherman needs to decide on the amount which it
  can afford to invest internationally.
• Market penetration For this, company has to
  make strategies at least for two lead years so as
  to gain stability.

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• Website Ben Sherman needs to build its website
  and has to decide the language in which it is
  going to communicate.
• Product There must be a product for which
  organization has decided to expand globally.

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• Market research An in depth research needs to
  be conducted before entering into the global
  market as without it, current needs and
  opportunities cannot be assessed.

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Marketing tactics and mix

• For the watches which Ben Sherman manufactures
  for its niche market, there are various strategic
  methods by which it is being promoted with an
  objective to capture that target as well as to
  earn profits for organization. The marketing
  tactics of this firm is for satisfying the needs
  of consumers.

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• Product To manufacture watches, company has to
  perform those operations by which excellent
  quality can gain with use of latest technology.
• Price As the target market is niche, so prices
  would be charged at high level as it involves
  high cost at the time of manufacturing it with
  high quality.

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• Place It has to be available at all fashion
  stores as well as on departmental stores so that
  it would be in reach to all customers of the
  target market.
• Promotion For its promotion, advertising can be
  used as it will capture the attention of people
  at a large scale.

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REFRENCES

• Satell, G., 2013. 4 Principles of Marketing
  Strategy In The Digital Age.Accessed on 23rd
  June 2014.
• Barone, M.J. and DeCarlo, T.E., 2003. Emerging
  Forms of Competitive Advantage  Implications for
  Agricultural Producers. Midwest Agribusiness
  Trade Research and  Information Center Research
  Paper.
• Cook, R. G., 2007. Marketing to Leading Edge Baby
  Boomers Perceptions, Principles, Practices,
  Predictions. Journal of Consumer Marketing.

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