Access Marketing Plan for Specific International Target market

Target Corporation is a retail company that provides a wide variety of products, such as clothing, housewares, groceries, entertainment, as well as a large selection of other products. Target aims for a wide customer base, providing customers with everyday products. It seeks to attract a younger, more educated, and affluent clientele. Their suppliers include many name brands for all products, including 3-M, General Mills, Massimo, and Apple. Target has also created their own brands, such as Up and Up and Archer Farms. In July 2014, Brian Cornell was named the company’s next Chairman of the Board of Directors and CEO, and his transition was effective on August 12, 2014. He has over 30 years of retail and consumer products experience in various roles at Pepsi Co, Michaels, Wal-Mart, and Safeway. Cornell said, “I will focus on our current business performance in both the U.S. and Canada and on how we accelerate our omnichannel transformation.” (Target, 2014.)

Korea covers a land area of 99,392km (squared) and has a population of approximately 50 million people. Korea’s economy is listed as Asia’s fourth largest and the world’s 15th largest. It is the planet’s most densely populated country with 400 people per square km mainly due to the nearly 70% of uninhabitable mountainous regions. The largest cities are Busan (5.5 million inhabitants), Seoul (11.6 million), Daegu (4.0 million), Gwangju (2.9 million), Incheon (5.4 million) and Daejeon (2.9 million). Rapid urban growth has resulted in various problems for South Korea including housing. High-rise apartments were constructed in order to help alleviate housing shortages.

Target Corporation currently has 1,763 operating stores which are located in 49 US states and in the District of Columbia. The company has become one of the leaders in the department store industry since the establishment of its first retail store in 1962. Target has differentiated from competitors by offering products that are stylish and trendier than their competition (“Corporate Overview”).

A firm 's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood.

Expansion is a risky step for any business to take. International expansion has potential to be devastating to a company; or, it can lead to success on an even grander scale. By placing Target in Mexico, specifically Mexico City to begin with, opportunities are created for both the company and the country to grow. This expansion makes sense for several key reasons. One reason is that Target has yet to expand out of the United States. After a failed attempt at moving into Canada, the company has not tried international expansion since. Wal-Mex is the only retail store in Mexico that offers similar products for similar prices, which leaves space for a store like Target. Wal-Mart and Target have also been known to do well in the same areas. Target

Planning: Planning is a systemized way of relating to the future. It is an attempt to mange the effects of external, uncontrollable factors on the firm’s strengths, weaknesses, objectives, and goals to attain a desired end.

As previously stated, there is currently no other electronically programmable pill dispenser on the consumer market. Prior to patenting the XG Electronic Pill Dispenser, consumers were mandated to open their pill containers each and every time dispensary was required. This is the main avenue of personal, medical dispensary in use today.

International marketing is the export, franchising, joint venture or full direct entry of a marketing organization into another country. • To bring countries closer for trading purpose and to encourage large scale free trade among the countries of the world. • To bring integration of economies of different countries and there by to facilitate the process of globalization of trade. • To establish trade relations among the nations and thereby to maintain cordial relations among nations for maintaining world peace. • To facilitates and encourage social and cultural exchange among different countries of the world. • To provide better life and welfare to people from different countries of the world. • To provide assistance

There are over 1.1 million men and woman amateur and pro bodybuilders alone in the United States. The IFBB has competitors age ranges from as young as 16 years to as old as 83 within a range categories for competition, The NutiBullet Pro is a necessary tool to assist the competitors in preparing for competitions fulfilling a need for a quick, convenient and easy way for bodybuilders to create their protein shakes, whey smoothies or one of their required 6 to 7 meals a day.

In terms of value, the differentiation through best practices under Environmental Management Systems has added value to Frog’s Leap. As a result, this company can take advantages of lower production costs, high-quality product, excellent brand image as an environment -friendly -company and employee satisfaction. Frog’s Leap also benefited from its full-time, year – round offers and benefits to its employees. Its employee’s satisfaction without any worries on incomes, housing, schools for kids, leads to high productivity, low operating cost because of low turnover rate and dead – time to hire new ones.

Indulgence versus Restraint (IND). It demonstrates a high versus low from each country in various cultures.

The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.

Seoul, Korea is a significant globally influential city that has both a vast and profound history. The city’s establishment dates back over 600 years ago. From the depths of its physical and cultural development to its present prominence in the financial world, the city is an excellent example in defining and understanding the cities of today. The manners in which the city’s infrastructures and population interact with one another can also be explained through the lenses of an urban sociological perspective to help further the understand of many different aspects that define metropolitan life. From the various turmoil to the dramatic increase in development of the city life establishment, the city of Seoul sets itself apart from many as an interesting city.

This is the first Masters level and business focused class I have ever taken. Most topics are completely new to me, although there have been a number that have peaked my interest, for the most part this materiel is all new. The concept of incorporating a global focus into one’s business plan seems practical since today’s age of technology is expanding the reach of all but few businesses. To focus strictly on the domestic possibilities limits a businesses’ potential and minimizes the broad reach of resources that a global environment offers. Prior to this class I did not realize how many advantages are associated with a global outlook. The following are some of those advantages: managers and entrepreneurs have access to a larger talent pool for possible employment; natural resources are abundant both labor and supply; the possibility for growth is enhanced; and with that comes the possibility for increased profit. In order for entrepreneurs and managers to reap the benefits of a global business, they must first structure a business plan based on their strategic vision to incorporate a more globally focused business process. When venturing into uncharted waters such as the global market or foreign investment, there are a number of pitfalls related to cultural variations that can derail even the most successful of domestic companies. Therefore, it is imperative for managers and executives to develop a globally focused business plan based off of stringent

1. Describe the total market (e.g. number of visitors, market share, and visitor expenditure) for TTNQ in the country you have identified as offering the best potential for TTNQ. In describing the total market, you should also provide a brief analysis of trends and past performance of visitors to TNQ from your identified country.