Write an answer in response to the following question.
Your answer should be between 200 - 250 words.
Your company would like to break into a new overseas market with your new range of sports goods.
You have been asked by the Managing Director to investigate ways of doing this.
Write a report for the marketing Director, including the following information:
- how you carried out your research into the market
- the existing competition
- your target audience
- ways of promoting the products in the new market
BEC Higher Sample Report Answer
Report: Overseas Market Investigation
The following report presents the results of an initial investigation into an overseas market, as requested by senior management.
Findings
Several weeks were spent in the country collecting information regarding the market, purchasing habits, competitors and other relevant market data.
Market research was carried out through interviews with local consumers, testing of products produced by potential competitors, and visiting local production facilities.
Following an analysis of the data, it is clear there are two main competitors in the market being considered. Company A and Company B each has an equal share of the overall market. Other manufacturers are also present but are small scale and represent a small fraction of the market.
The largest group of consumers identified was that of teenagers; with 30% of them purchasing sports goods on a regular basis as opposed to adults who generally purchase such goods only once a year. The ideal target market would therefore be males in the 15 to 25 age range.
Conclusions
Based on this initial research and feedback, it is clear that this market has a lot of potential and offers opportunity for growth in the future.
Recommendations
Establish an initial marketing campaign aimed at the target group, and identify possible strategic alliances such as local sports teams or clubs which could help establish the brand. Based on the age of the target consumer group, it is recommended to work with a locally based PR firm to launch a social media campaign to run in conjunction with the main marketing efforts.
