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International marketing is that the company wants to expand their market enter into other countries. If one company wants to enter international market they should think about many things. Such as that people all over the world have different needs and requirements, evaluate marketing environment and the overseas potential of markets has to be carefully scrutinized.
International marketing also involves marketing, advertising, and selling a company’s product or brand on a global scale. Many fashions of advertising use this marketing such as television, publications, Internet and so on.
An International Marketing strategy is one part of a global strategy. If an international marketing is correct, it will have many benefits for a company. Following is four benefits:
Make more effective and profitable about the products.
You change the produces and services to learn more. The more you learn, the faster you learn, the more effective can become at the releasing products and services. And then it is easy for the company to enter into the international marketing.
Have stronger competitive advantage
More and more competition will appear in the international marketing. So the company should be ready at any time to face to face to the competition. After that, they will have the ability to fit the situation in the international marketing.
Improve customers conscious
Customers can learn about the products and services through the Internet. Every products or services have the same design and price. That can improve customers’ conscious and expand the international market.
Reduce the cost and improve savings
By focusing on new markets that can achieve economies of scale and scope through standardization in some areas. And use the Internet that customers can find that there you come from in the world, and find the potential customers, as well.
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Background of Charles & Keith
Charles Wong and Keith Wong started their own small women footwear company in Singapore in 1990. Also they named their products’ name with their own name. They opened the first shop in Amara shopping center in Singapore in1996. After that, they have the confidence to build their career. Between 1997 and 1998, Charles and Keith recruited six factories to produce women shoes for the brand. They established their first overseas outlet in Jakarta, Ratu Plaza, Indonesia. These two brothers expand their outlets to many countries in short period of time by using franchise system. Because of using the correct methods they can achieve the successfully easier.
Today Charles & Keith is an international brand and many countries have its own shop and own factories. Their main product is women shoes, bags, belts and sunglasses. Charles & Keith has more than 160 outlets in over 25countries in Asia and Europe. They also open their market in Turkey and Latvia and also have outlets in Egypt.
According to their trendy styles and affordable prices, Charles & Keith attract more and more women buyers and occupied bigger market. Their have very strong competitors including middle-end footwear brands and every countries’ local brand. There is a big competitive for Charles & Keith compete with other brands. That is a big challenge.
Now, Charles & Keith want to expand their collection to bags, belts, and sunglasses and C&K Signature Brand. They open their own online brand shops in 5th Feb 2010. Many customers can buy products online without outdoor shopping.
Charles & Keith support several humanitarian cases by launching special products for UNIFEM, Garden City Funds, and Breast Cancer Foundation where all the profit from the sales directly go to these foundations.
New International Market- China
If a company wants to expand their market into an international market, their team member should deeply understand about everything: Strengths, Weaknesses, Opportunities and Threats.
In China, a lot of people are following the step of the famous brand. And they are willing to spend much money on bags, shoes, clothes and so on. Charles & Keith have the strengths of price in Singapore. So if Charles & Keith want to enter into the China marketing, it will be successful about its price.
Therefore, the design of bags and shoes are more fashion than the other mid-range products. Charles & Keith’s design are familiar with many senior brands but with the lower price, so it will be successful in China marketing.
Before Charles & Keith enter into the Chinese marketing, many Chinese people never heard about this brand. They also do not know what it sales and what kind of quality of the products’. And many mid-range and senior brand have a higher reputation in Chinese marketing.
The Charles & Keith’s price is a little bit expensive than the other local brands in China. It is an adventure for people to spend about 500 or 600yuan on buying a new brand’s products.
China has the largest consumption group in all over the world. Because there are 22 per cent of the world’s population in China. This is a good chance for Charles & Keith to get more profit in such a big market. In addition, this company can expand more market in China in order to win more profits.
Nowadays, many kinds of brands established in China and have their own shops and branches. It is hard for these companies to enter into the China marketing and occupied their own share in such a short time.
Unfortunately, there are many counterfeit brands in China, which cause that people should be very careful when they buy these products. If someone makes counterfeit goods of C & K which with poor qualities and sold it out. It will reduce the satisfactions of people about Charles & Keith in China.
The company will spend so much time and money to entry into a new market. They should collect information; do many researches about local marketing. There are many things should be prepared in a new place.
Environment Analysis of China
A good environment is good for a new brand to develop. When the company enters a new market, it must face so many difficulties. Every worker in the company must know about plenty of solutions for handling the problems. Analyzing the environment of China marketing, there are four points to be discussed, named: Political Environment; Economic Environment; Social Environment; Technological Environment.
Singapore government always encourage their local brands can develop its own international market, which is in order to make the Singapore’s brand change and enter the global marketing.
The government does not very stringent with variety requirements for the local brand, which wants to enter the international market. In addition, government established a good friendship with other countries. Singapore also has friendly relations with China. In other words, China is very welcome for Singapore’s export brands.
Singapore government hope that more and more people will get more information about its local brands and buy them.
Nowadays, with the China’s economy developing very stable and growing so quickly. China has been among the ranks of developing countries. In current society, the more income the people received, the more money they will spend on their luxury products such as clothes, bags, cars, sunglasses and so on.
Nowadays, China’s economy has quickly developed. Therefore, almost every Chinese people have a good command of culture and lifestyles from other countries. So they have set up a variety of clubs, parties, and community centers during their working time, which makes peoples’ life more colorful and meaningful. So it is easy for them to accept the foreign brands into their daily life.
With the developing economy in China, the technological is also changing more and more skillful and high-end. Internet is available anywhere and everyone can use it. They can know the information about Charles & Keith brand and buy it online.
Technological is becoming more and more well so many factories can make products faster.
If Charles & Keith buy a factory in China and produce their own products. They will reduce more cost in technological and labor cost because China has the biggest human labor marketing.
Marketing Mix Analysis of China
Any product has its own marketing mix before it face to the market, which is one of the most famous marketing terms. A good marketing mix can help a brand to occupy its own market. Marketing mix is the tactical or operational part of a marketing plan. In addition, marketing mix can call 4Ps, named Price, Place, Promotion and Product. These four points are adjusted until the right combinations is found that serves the needs of product’s customers, while generating optimum income. Charles & Keith 4Ps analysis:
Charles & Keith’s products is shoes, bags, belts and sunglasses. These products are very popular in Singapore and also popular all over the world. And every countries shop has their own designers to design the local products to meet people’s needs. Changes different styles and colors for the products. And every product should check to the good quality before it listing.
Charles & Keith’s products have the same price all over the world. And never have some discount to the products. So customers not need to worry about if they buy one product after one year this product will have the lower price. The product’s price is in people’s acceptable range. So many people are willing to buy them.
Do more promotion for customers not only for members. In China, Charles & Keith can do more advertisement on the Internet, newspapers and magazines. Every month have different activities to stimulate consumptions. Some bundle promotion with other products.
Charles & Keith can open its shop in big shopping malls and in many cities in China. Or opening in any main big cities, such as Shanghai, Suzhou, Guangzhou and so on. These big cities with good economic development also will attract more people come.
Also can open the shops in some famous street.
Other Problems in International Market
A new brand enter into a new market first time will have a lot of problems. Such as cultural, location sources and so on.
For Charles & Keith, this chance to enter the China market is a big challenge. First, China market is a big market and China has many provinces. The company workers should do more research and decide they can open their first own shop in which provinces. Because china’s develop is so fast it is a problem. The first shop will decide the next shop can be successful or not. And after-sales services can doing in China or send products back to Singapore.
Today, more and more people like shopping online without any shopping malls. So workers should think about their brand need to establish an online shop or not.
For the China market new brand- Charles & Keith, here are some recommendations for it to enter into international market-China.
Making a suitable marketing strategy before it enter into china market.
Thinking about china economic, social, cultural and other things that will affect the development of Charles & Keith.
The company workers also should think about the local labor sources and the government policies. And choose a good geographic boundary is also a problem. Not only choose a prosperous place but also this place cannot with the high charter hire.
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In Singapore, Charles & Keith is a famous brand and many people but products. But in china market, it is a new brand and without too lower price. So people can accept the new brand need a long time. It shows that company should do more advertisement on newspapers, Internet, and magazines to let more people know the brand and attract them to buy products.
Charles & Keith is an overseas brand for Chinese. So all the products production is a problem. Company can buy local factory to produce some products. This can reduce the transportation cost. Also can reduce the supply time. That can reduce the people’s waiting time.
Also, have local factories is much conveniences for after-sales services.
An After-sales service is also an important part for a company.
For the new shop opens, all shops need to employ some new labors. But these labors must have high quality on services. They must pass the exam of the company.
Charles & Keith is a good Singapore local brand and the products is high qualities and with perfect designs. That is a pity if this brand not develops international market. Charles & Keith sales shoes, bags, belts, sunglasses have the top designs. Some products are similar as some top brands such as LV, Gucci, Chanel and so on.
In a word, it is a big chance for Charles & Keith to enter into China market. Charles & Keith will make more profit after it enter into China market. China is a big market for these new international brands. It is a bridge to other oversea countries. This action can make itself more and more famous in the world and attract more official sponsors. Through this chance, Charles & Keith can change the product’s style and design some suitable style for Chinese.
It shows that is good choice for Charles & Keith to enter into the china market.
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