Essay on Marketing Entry Strategies: Feet Hygiene Tech
According to the target country analysis, Singapore is dominated for strong Environmental Policies and Government Regulations. In order to protect and hold an exclusive right to sell an invention of “Toshiba Feet Hygiene” in Singapore, it is a must to register our invention under the Patent of Intellectual Property. A contractual arrangement makes a legally protected asset from such unauthorized copying and production of a product. As well as, licensed for trade secret, which protects the company’s’ product invention details confidential such as, product’s components.
Moreover, understanding and enabling conditions of Singapore market will determine success of our marketing model. We use direct exporting as …show more content…
Increase product awareness among the target audience by 25 percent in one year. One of the reasons we wanted “Toshiba Feet Hygiene” to be well aware with popularity is because the functions it can serves and provides for the users is impressively beneficial.
STP: Market Segmentation
Concentrating in Demographics Segmentation which is based on measurable factors such, characteristics of population, income earnings, occupation, and Age distribution. First of all, knowing the number of the population can measures number of persons who occupied in a housing unit. Secondly, uses income screening per capita GNP as a primary indicator for analyzing and categorizing groups of purchasing power. Thirdly, classifies for Global elite consumers, who are able and willing to spending money on prestigious products. This is because it links with our objectives that we need, because in order to increase sales volume we need to screen for potential customers and distribution of high incomes.
STP: Market Targeting
Under many considerations our decision is pursuing a Standardized Global Marketing strategy. The product will be marketed for mass marketing by using the same marketing mix, with minimized product adaptation. The market segment is currently large enough to present a company with the opportunity to make