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Strategic International Marketing EXPORTING PROBIOTIC DRINK ‘PERKII’ TO SINGAPORE UNDER INTRODUCTION 2.2 Definition of and reason for the export opportunity (REQUIRE EDITING OR PRECISE EXPLANATION...

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Strategic International Marketing
EXPORTING PROBIOTIC DRINK ‘PERKII’ TO SINGAPORE
UNDER INTRODUCTION
2.2 Definition of and reason for the export opportunity (REQUIRE EDITING OR PRECISE
EXPLANATION XXXXXXXXXXPAGE)
After assessing Perkii, we foresee an international exporting opportunity and during the COVID-19
pandemic most consumers would be seeking for health products for reassurance. Unlike Yakult or
other probiotic drinks available in the markets that contains such high sugar content, Perkii is the
opposite. The product itself attracts health-conscious consumer and creating a new trend that would
shift consumers away from sugary drinks such as soft drinks, sports drinks and juices.
With product expansion to New Zealand, we believed by adopting similar business model would be
eneficial for similar international markets; especially in markets where health products are highly
promoted and banning high sugar contained drinks. Perkii has made its drink very attractive by its
vi
ant colour and simple but sophisticated packaging along with the combination of natural flavours
that would appeal to consumers in different age gap.
EXTERNAL FACTORS
3.2 Target Country / Area: SINGAPORE AND WHAT THEIR HEALTH MARKET LOOK LIKE (2-
3 PAGES)
(specify an area, city, town to be the focus of your plan and approx' market size, growth,
trends)
In this section you should analyse the international market you are targeting. As a guide, you should
discuss the definition of the product/service market in which you will be competing; the market
characteristics; the cu
ent size of the market ($ and units) and cu
ent and likely future trends. To help
focus your analysis, you may choose an area within the country to concentrate your initial
marketing activities upon. For example, very few companies targeting the USA would aim initially to
launch their products/services across the whole country at the same time. Rather they might focus upon
(say) California / San Francisco for their initial launch and so most of their initial market analysis would
e based upon these areas.
3.5 Identification of Target Market Segment(s) (3-5 PAGES)
Who are the customers that you want to win? What are their primary cultural traits? Who makes the
decision to buy? When do they purchase? What factors influence their purchase? What are their buyer
criteria and hierarchy? Do they make repeat purchases? No firm tries to ‘build’ their products/services
for everyone – rather they tend to focus on special groups of customers with particular needs. These
groups of customers we call ‘market segments’. And so in this section you will also need to ‘segment’
the market for your product/service and then evaluate each of those segments in order to find out which
one(s) are the most attractive (= target market segments). Think about car companies building a new
car – what groups of customers (segments) are they ‘targeting’ and what impact will that have on the
design, fit out, capabilities and price of the car? The target segment(s) that you identify in this section
will then become the ONLY FOCUS for your marketing plan. So, what you need to do is set up an
evaluation matrix that enables you to develop your target market segment(s).There is an example of
how to do this in lecture 2.

(1) Identify possible segments:
- 18 TO 34 YEAR OLD WITH HEALTHY HABITS
- UNIVERSITY STUDENTS: HEALTH CONSCIOUS
- YOUNG, VIBRANT, EDUCATED, HEALTHY SINGAPOREANS (EXPOSED AND FAMILIAR TO FOREIGN
BRANDS)
- EXPAT LIVING IN SINGAPORE
- CUSTOMERS OF COLD STORAGE AND FAIR PRICE (MEANING MIDDLE TO HIGH INCOME EARNERS)
(2) Use segmentation grid to evaluate them
(3) Identify OUR MAIN 'target' segment(s)
- UNIVERSITY STUDENTS AND YOUNG SINGAPOREANS: HEALTH CONSCIOUS
- EXPAT LIVING IN SINGAPORE
UNDER MARKETING STRATEGY EVALUATION
5.1 Market Entry Model Validation (utilize matrix analysis XXXXXXXXXXPAGES)
You must first complete an evaluation of alternative export entry models that the frim may consider
using.

5.1.1 Alternative Export Entry Strategies
A
ief evaluation of all realistic market entry options is required (typically firms choose 2 or 3 options).
Each of these options should be analyzed – say key advantages and disadvantages.

5.1.2 Final Market Entry Strategy – INDIRECT EXPORT THROUGH LOCAL DISTRIBUTOR
You should then identify the option that you think best meets your business needs. Explain this decision
in detail – how and why will it work best for your firm.

UNDER MARKETING MIX STRATEGY
5.3.1. Product/Service Specification(s) - TBC
Now that you have identified the ‘best’ product/service ‘options’ for your marketing plan (in the
competitive advantage section above), you now need to specify the final / recommended option. This
equires a full description of the product/service to be launched, together with an explanation for
any ‘adaptations’ that are required for local market conditions.
Answered Same Day May 28, 2021

Solution

Rimsha answered on Jun 03 2021
137 Votes
STRATEGIC INTERNATIONAL MARKETING
EXPORTING PROBIOTIC DRINK ‘PERKII’ TO SINGAPORE
Table of Contents
Introduction    3
2.2 Definition of and reason for the export opportunity    3
External factors    3
3.2 Target Country / Area    3
Market strategy evaluation    4
5.0 marketing strategy evaluation    4
5.1 Market Entry Model Validation    6
5.1.1 Alternative Export Entry Strategies    6
5.1.2 Final Market Entry Strategy    7
Marketing Mix Strategy    7
5.3.1. Product/Service Specification(s)    7
References    8
Introduction
2.2 Definition of and reason for the export opportunity
After assessing the Perkii, the quality of the product and its popularity in the home country, we have foreseen an international exporting opportunity. Today, world is suffering from the Covid-19 pandemic which have impacted all the international markets. Most of the industries have either change their marketing strategy or modify the product which fulfils the cu
ent demand. Most of the people are investing their money or spending their money on the necessary commodities which include food, medicines, healthcare supplements. Most of the customers are seeking healthy products for reassurance. Covid-19 forces people to rethink their choices of eating habits. Thus, demand for the healthy food or nutritional supplements. It is a golden chance for all the organisations offering healthy food to increase their sales by proper marketing.
Perkii can enter the international market by entering Singapore. The market potential for the probiotic drinks like Perkii is very high are people in this country are pro-health. They prefer healthy and natural material to keep their body fit. This market has high potential to give the product high sales and profit because unlike Yakult and other probiotic drinks available in the market which contains very high sugar content, Perkii consists of natural sugar content which can increase the demand of the product. It has been seen that product can attract the health-conscious consumers and have capability to develops the new customer segments. Perkii can motivates people to switch from the sugary drinks such as soft drinks, sport drinks and juices to low sugar contain probiotic drinks whose overconsumption do not have any side effects. This product has been expanded to New Zealand market, we believed that adopting the similar business model can help the product to gain popularity in the Singapore market. It must be noted that Singapore market highly promote healthy products and banned high sugar containing drinks. Apart from this, to improve the popularity of the product, company uses the vi
ant colours and simple but sophisticated packaging. Apart from this, product is offered in wide range of combination of natural flavours which appeal the consumers of different group.
External factors
3.2 Target Country / Area
The target country for the product is Singapore. The focus on launching the product in the Singapore Island area which is Mainland Island and popular among the tourists. The region of the country has population of 5,469,700 spreading across an area of 710 square kilometres. It is interesting to note that Perkii comes under both beverage industry and healthcare industry. We are focussing on promoting the health aspect of the drink on one hand and tries to grab the market of sugary drinks such as soft drinks and juices on other hand. It must be noted that using the Perkii, we are trying to change the behaviour of consumer towards the product and making them developing the habit of consuming Perkii instead of soft drinks. It must be seen that Singapore has very efficient healthcare system. It ranked among top 10 on the list of the World health organisation in context of the healthcare system (Saxena et al. 2017).
It has been seen that healthcare market of Singapore is expected to grow up to $29.8 billion in 2020, which is 9 per cent more than the 2019’s $27.3 billion. It has been expected that the healthcare market of the country would be expected to be doubles by 2029, which is up to $68.7 billion. It must be noted that proportion of gross domestic product, spend of the country on healthcare consists of both private and public healthcare expenditure. It is expected to account for 5.9% of GDP in 2019 and could rise to 9% by 2029. It has been seen that there is absolute rising in the profit due to increase in...
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