6. Entering Foreign Markets (Entry Strategy) Carrefour to have a glocal strategy which is a business model that combine global strategy approach and local adaptation (Svensson as cited in Chinomona & Sibanda 2012). in order to adapt and enter the market in foreign country Carrefour use this kind of strategy. There are: Entry Strategy Carrefour entered Taiwanese market in the form of a joint venture with a local company called Uni-President Enterprises. This entry strategy had several advantages for Carrefour.
It’s the plan for meeting a specific marketing goal for a specific marketing campaign. Your ability to set goals and to plan successful marketing strategies depends much on the information you acquire about your target market. So one of the benefits of market segmentation is that it provides you with that information. This also improves marketability of your product or service enabling you to determine your target market’s wants and needs. You just use multiple demographic segments to determine shared characteristics across segments, including personality (psychographic) and behavioral characteristics.
There are many sources of competitive advantage were performed by Carrefour. Firstly, localization strategy has become an important strategy for multinational corporations to extend to the world. Carrefour was put attention to the localization of its stores. From the staff to the goods and to the shelves of the display, are implemented localization. The staff localization easier to make the company's business philosophy into the business, because the local staff more understanding of local culture and customs.
In a short word, marketing segmentation strategy are correspond to the target needs to effectively its own branding position relative to the identified market segment. Concept of global market segment The concept of global market segmentation are the most hot issue in the company marketing in the roles of positioning, developing and distribute an unit selling technique to sell product across the specific target national boundaries. The market segment potential customer are in similarity purchase behaviour. Market targeting as a process of evaluating the segment and focusing on the business market efforts on targeted country, nation of consumer which the company seen as potential audience to respond, example as those customer which have most effectiveness, efficiencies and able for profitably. The positioning of the marketing is required to differentiate the current product image of company brand in the target audience minded.
In other words, it is essential for corporations to divide and differentiate their customers into smaller groups according to their purchase criteria, common features, needs, desires, etc., so as to ensure that they will be competitive and profitable by building products and providing services that sell and satisfy their potential consumers. As Henry Claycamp states in his book ‘’A Theory of Market Segmentation’’, one of the most considerable and crucial developments in marketing is the fact that nowadays, companies give special importance to market segmentation strategies (p.388). Additionally, by conducting successful customer segmentation, a company may gain multiple benefits. First of all, companies have more probabilities to ensure future growths and be able to launch new products. Furthermore, by segmenting their customers they will gain a competitive market advantage and will be able to raise their market share and consequently earn more profits, fact which will also be translated by raising the percentage of loyal customers (Foundation of Marketing,
2- Marketing Strategy: It can be defined as Firm’s plan to unify its all the targets and goals of Marketing into one single strategic plan. An amazing marketing strategy can be achieved by analyzing the market and paying attention on its product, and the needs of its users to attain the sustainability and the higher profits. It can be further identified with set of segments on which Marketing depends upon, via focusing on targeted markets by posturing the product or its services under positioning method. Segmenting, Targeting & Positioning It assists the organization to indentify customer needs, opportunities in the market, and plan accordingly to target specific areas for better business. It can be classified in behavioral, demographical, psychographical, and geographical aspects of segmentation.
Market segmentation is one of the most important processes in modern marketing. This process takes a large heterogeneous market and divides it into smaller segments (or sub-markets) that present more homogeneous characteristics with regard to the product or service of a business. With this division, it can find many departments from which they choose the ones that it has the best prospects for their case, ie the so-called target markets where it concentrates its efforts and resources on marketing(Wedel and Kamakura 2000). The time when one could make something that is "all for all" has gone unswervingly; those who attempt to produce chameleon products usually fail. Of course, this does not mean that a company cannot have a product targeting
It is through the use of an adaptable strategy on the store level that French-style hypermarkets are currently expanding in southern Europe, South America, Asia and increasingly in central and Eastern Europe (Colla, 2001). The French retailer states that it has a dream for its business. Carrefour’s dream is to be a business that is recognized and loved by its customers because it assists them in the best way it can. It further dreams that by providing its customers with high quality products it can ultimately increase its customer’s quality of life. To ensure the realization of this dream the company makes sure that every day it
These segments may be broad or as narrow as one individual customers. This strategy views customers as assets that provide returns over time on the marketing investment required to attract them. For this new e-commerce venture, I recommend the Sarah Company to select the product-based Marketing Strategies because in the product based marketing system, I can focus on what I do best at. The product that I produce is most likely what my business is passionate about. I can focus on making the best product at the best possible price and let the rest sort itself out.
Market segmentation is considered to be one of the major practices used in marketing that aims at identifying distinct groups of people who have similar needs, desires, behaviours, lifestyles, attitudes and other characteristics. It plays a crucial role in the strategic marketing planning process of the firm as products and services designed for specific groups of consumers can be developed more efficiently and economically, and helps the company gain a competitive advantage over rivals. It is easier for the company to concentrate its efforts on satisfying one smaller group of people with similar needs instead of trying to satisfy everybody and subsequently ending up with zero effect on satisfaction. By segmenting the market, the marketer can