From this research the following factors have been taken into consideration when considering Germany.
5.2.2 Social & Economic Environment
Social factors, as outlined in the PEST analysis outline the increasing trend towards ‘on the go’ consumption. This reflects the busy lifestyle of the working population in Berlin hence the choice of location. The economic factor of high disposable income also provides an attractive reason for Germany as consumer spending is high.
5.2.3 Prospective Country Culture
Greggs may use the Hofstede model to “identify persuasive fundamental differences of national cultures” and thereby assess their cultural fit. “According to Hofstede, the way people in different countries perceive and interpret their world varies along four dimensions: power distance, uncertainty avoidance, individualism and masculinity.”
The German culture is a low context and explicit, perhaps ever more so than the British. Moreover, “the German national mentality is of a relatively high level of uncertainty avoidance. The Germans do not like a sense of insecurity which makes them feel uneasy in business. (Germans work with) hard facts, and sound arguments”. There are therefore slight cultural differences that the UK management team will have to consider upon entering the German market.
5.2.4 Market Competition
Competition in the German market is a key variable of Greggs’ success.
Figure B- Competitor Analysis
It is therefore important to identify, analyse and monitor competitive movement. Figure B illustrates the potential competition in the German bakery market in accordance to market share
5.2.5 Geographical Climate
Greggs’ sales are affected only by climatic extremes - very hot weather can depress demand for bakery products, and prolonged rain or snow can make people reluctant to go out and make their usual daily purchases. This pattern is mirrored in Germany and therefore fluctuations in sales must be accounted for.
5.2.6 The German Market
The use of the Porters 5 Forces model has recognized the attractiveness of the German bakery market through the identification of barriers to entry and potential substitutes.
6.0 - International Marketing Objectives
In light of the organisations resources and competencies, the following objectives have been established:
6.1 Short Term Objectives
- Utilise promotional mechanisms to encourage trial and to inspire customer loyalty to the brand
By fulfilling this objective, Greggs will be working toward securing a loyal customer base thereby defending themselves, to a large extent, from competitors.
- Conduct quarterly pricing reviews to ensure that prices remain competitive with rivals
By ensuring competitive prices, Greggs’ reinforce their commitment to offering ‘value for money’ as highlighted in their mission statement.
- To ensure all employees receive high standards of training that is reflected in high quality service to the consumer
Greggs corporate strategy highlights the importance of a fun and supportive working environment. They promote themselves as being a “great place to work” and encourage personal development. This in turn reflects on their high quality service offered to the end consumer.
6.2 Long Term Objectives
- To continually monitor, anticipate and challenge competitor movements in the bakery market.
This will allow Greggs to remain innovative and develop new and adapted recipes in response to market changes and consumer needs.
- To strengthen and build upon our place market to achieve 4% position by 2010.
This will be achieved through “core growth and introduction of new outlets”. It will enable Greggs to be a proficient player in the German Bakery market (see Figure B)
- To broaden the Greggs product portfolio by 5% year on year.
This will permit Greggs to expand their operations, in line with their growth ideals, and additionally offer a larger product range to ever-evolving consumer needs.
- To launch a further 6 stores in Germany by 2010 thus expanding scope and influence.
This will facilitate Greggs strive towards achieving their main aim: ‘To be Europe’s finest bakery-related retailer.’
- Increase awareness of the Greggs brand in the German bakery market
By attaining brand awareness, Greggs will able to insulate themselves, to an extent, from the wrath of competition. The German bakery market is largely fragmented thus making it an attractive market for potential new entrants.
7.0 Foreign Market Entry Strategy
“Firms deciding to enter a foreign market face a critical decision in choosing the best market entry mode to service the market. This decision is crucial because it can have an ongoing impact on a firm’s international business performance.”
Root (1994) suggests three different rules ‘Naïve rules’, ‘Pragmatic rules’ and ‘Strategy rules’. However as a result of the increasingly heterogeneous nature of the international market, it is important that Greggs do not generalise their approach, but adapt each entry mode according to the host market. The mode selected in Belgium therefore, may not be entirely applicable to Germany. Based on this rationale, Greggs will be employing ‘Strategy rules’ which is when all entry modes are compared and evaluated before a choice is made.
Moreover, according to Hollensen (2001) “some firms have discovered that an ill judged market entry selection in the initial stages in the firms internationalisation can threaten the firms future market entry and expansion activities”, hence illustrating its importance to Greggs plc.
Greggs will need to consider the main groups of entry mode influencers prior to choice in order to identify the most appropriate and profitable mode.
1) Internal Factors
According to the Company’s Act (1985), firms with over £5.75 million in turnover and over 250 employee are classified as large. Greggs more than qualifies this with a turnover of £422.6 million and employment of 17600 people in 2003. This provides them with an adequate resource capability to open up a sales and production subsidiary in Germany.
Moreover, in developing their theory of internationalization, Johanson and Vahlne 1977 assert that “uncertainty in international markets is reduced through actual operations in foreign markets (experiential knowledge) rather than through the acquisition of objective knowledge.” Greggs have already ventured into Antwerp and Leuven in Belgium hence increasing their experiential knowledge and expertise.
Greggs produce is fresh and baked goods. In order to maintain this stance, the only feasible option would be to produce, as well as sell in the host country. Additionally, because Greggs will promote themselves as a British company, they will be communicating a clear differential and competitive advantage.
2) External Factors
Both the UK and Germany are members of the European community thereby reducing their Socio-Cultural distance. This proximity between countries will therefore favour hierarchical modes of entry.
Due to the proximity between countries perceived risk is reduced. Companies are therefore less reluctant to pursue more involving modes of entry.
It has been stated that “the size of the host country is an important attraction to foreign direct investment” as large and growing markets will make management more likely to commit resources to the development of a wholly owned subsidiary. With a population in excess of 825 Million people in 2002 Germany is evidently a large and growing market making it an ideally suited to a FDI mode of entry. Moreover, the German bakery market is highly fragmented which reduces barriers to entry in the form of dominant competitors.
All other variables being equal, the higher the intensity of competition, the more likely a firm is to select an export mode of entry. The German cakes and pastries market is made up of several small players each of which occupy small proportions of the marketplace. This presents itself as an ideal proposition to Greggs who will be able to establish themselves without dominant opposition.
3) Desired Mode Characteristics
The choice of mode of entry will also depend on the attitudes of the decision maker. Although it is difficult to determine how pro-risk or risk averse Greggs Managing Director Sir Mike Darrington is, one may assume from their hierarchical entrance into Belgium that a high risk, expansionist strategy has been adopted and will be pursued.
The degree of control that management desire over operations will help establish which mode of entry to employ. Hierarchical modes allow high levels of control over operations ensuring that the latter are carried out to Greggs specification.
All else being equal, the greater the resource investment, the lower the flexibility of the business. Consequently, if Greggs pursue a hierarchical mode of entry, they will have to consider their potential limited flexibility.
The above suggests that Greggs’ would benefit from a hierarchical mode of entry as it satisfies all criteria for the latter. This is where the firm completely owns and controls the foreign entry mode.
However, regardless of the apparent control over operations specified by this mode, the degree of control that head office can exert over the subsidiary depends on how many and which value chain functions can be transferred to the market.
Having reviewed all alternatives, its was decided that a Sales and Production subsidiary will be introduced in Germany leaving the Research and Development and Marketing activities to be conducted at home in the UK.
According to Hollensen (2001), having selected this mode of entry, Greggs will benefit from having full control over the whole operation. Moreover, Greggs has long term market potential in Germany and therefore the ownership of a sales and production subsidiary will enable Greggs to build a strong international presence over a long period of time. This method also eliminates the possibility that a national partner gets a ‘free ride’ and allows Greggs to gain market knowledge directly.
A sales and production subsidiary will facilitate rapid entry to the German market allowing quick access to its distribution channels. Plus, no transportation costs will be incurred as raw materials will be purchased in the host country.
In addition to those proposed by Hollensen, Greggs may benefit from being able to adapt the ingredients used to German tastes. They can additionally tailor the servicescape to German preferences. Greggs produce is non-durable and therefore it would be inappropriate to needs to be produced and sold quickly as it is predominantly sell fresh food.
Retaining R&D and Marketing operations at home will reduce costs and risk. Having established themselves in the German market, Greggs may consider transferring these operations over in the future. Moreover, employing a hierarchical mode will enable Greggs to exploit new market opportunities as soon as they arrive with minimal delay. In line with the latter, Abell (1978) concept of a strategic window states that there are only limited periods during which the fit between the requirements of the market and capabilities of the firm are at an optimum. Investment should therefore be timed accordingly.
Although, this method will require a great deal of investment in terms of time, money and commitment, research has shown that “the profit returns generated by foreign direct investment modes are usually greater than those generated by exporting”.
According to the Uppsala Internationalisation Model, companies begin their internationalisation process a) by moving into relatively close markets first then more distant ones and b) companies entered new markets through exporting. Although at face value it appears that Greggs’ strategy contradicts the assumptions of model, it does however highlight the following exception: Firms that have larger resources can take larger steps with fewer consequences. Arguably Greggs fall under this category.
This model also suggests that firms start by entering markets which are nearer in terms of psychic distance hence reducing uncertainty. Germany is considered relatively near and despite language barriers, the German culture is similar to that of the UK as highlighted in the ‘Environmental Analysis’ section of this report.
8.0 Services Marketing Mix
Marketing mix refers to a “range of marketing activities that an organisation combines and implements to generate a response from the target audience.” Greggs will use the marketing mix template to identify and satisfy customer needs relative to competitors.
Product - Greggs will extend and adapt the UK product range to cater for the specific needs of the German market. 65% of the product range will include UK foods such as sausage rolls and pasties whilst the remaining 35% will be German baked products. Research has shown that German consumers are demanding non-traditional and novel products. Greggs will therefore cater for this demand and additionally present themselves as a ‘one-stop shop’ proposition to consumers who also intend to buy traditional German baked goods.
In terms of ‘core’ offerings, the product range will remain broad and sell food items such as cream cakes, pasties and doughnuts as well as sandwiches and baguettes. Germans demonstrate a strong preference towards meat related foods which will have to be considered in food preparation. Greggs will buy a hot drinks machine and purchase cold drinks from German wholesalers to compliment the core product range. Additionally, portion sizes, weight, colour and packaging of the products will remain as they are in the UK to maintain consistent product offering.
Greggs will differentiate their product offering from competitors by communicating their focus on British baked products to consumers. This will inspire loyalty to the brand and a committed consumer base. Subsequently, the brand will be recognised for high quality, tasty produce and thereby attain brand equity.
Although Greggs in the UK emphasise an ‘on-the-go’ proposition, to cater for all, Greggs in Germany will offer optional seating facilities for those who prefer a ‘sit down’ meal at an additional cost of €1. Greggs UK prides itself on the great taste and value that it offers to consumers. These are core competences that can be transferred to international operations.
In terms of the ‘augmented product’, Greggs will provide a customer satisfaction guarantee so that if a customer be dissatisfied with their purchase, a replacement product (up to the same value) can be offered. This will confirm our commitment to offering high quality foods and avoid the negative effects of ‘bad word of mouth.’
Price – To effectively penetrate the German market, Greggs will operate a market pricing strategy. This will involve adding a profit margin to the ‘costs of goods’. Prices will be benchmarked against those of competitors (see Figure B for competitors). As highlighted in the international marketing objectives, a competitor pricing review will be conducted monthly and prices amended respectively. Credit facilities will not be necessary as the consumer expenditure is unlikely to be excessively high.
Place – Greggs have selected Berlin as their chosen location for the following reasons: Firstly, Berlin has a large and growing population of approximately 3,396,300 people thus Greggs will gain access to a large consumer base. Secondly, Greggs’ proposition is ideally suited to Berlin’s fast-paced and chaotic character, in addition to its large working population, as it is quick and can be consumed whilst ‘on the go.’
For this target audience, Greggs will present itself as an affordable, luxurious indulgent after a stressful and tiring day. However, despite these clear advantages, Greggs will need to remain competitive as this prime and attractive location. The ‘Porters 5 Forces’ model illustrates the highly fragmented nature of the cakes and pastries market therefore Greggs may avoid high entry barriers.
Promotion – Greggs will position themselves as a value for money food, ‘convenient’, ‘on-the-go’ retailer offering both British and German bakery-related products. These brand characteristics will be communicated through the use of above and below the line promotional activities.
Greggs will use the current UK television advert with a German voice over in the German market. This will take immediate effect after the launch of the store (see Figure C – Critical path). TV advertising benefits from high viewing figures and will help raise awareness of the Greggs brand quickly.
In addition promotional mechanisms may be used to support the TV advertising in the Berlin region. Posters and leaflets with 25% off coupons will be distributed within a 2 mile radius of the Greggs outlet in order raise awareness amongst locals. Furthermore, to initiate brand loyalty a ‘buy any food product and get a drink free’ promotion will be implemented to encourage trial and positive word-of-mouth. Finally, a Greggs website for Germany will be developed at the UK head office and communicated to the German market in the TV advert. The website will be low cost and low maintenance.
Promotional material will be adapted in the UK and sent to Germany prior to launch as highlighted in the critical path. If this venture proves successful, Greggs may consider investing in facilities to develop marketing communications in the host country.
People – As discussed later in the implementation stage of the report, a UK management team will recruit and train German employees to competently deliver a coherent message to the international consumer. It is imperative that the German manager, chef and sales assistants are trained sufficiently to provide consistent service quality.
Greggs employees are an important component of the service delivery and ultimately influence the perception that consumers develop of the brand. Greggs UK pride themselves on the friendly and approachable nature of their employees which, again, is a core competence that can be transferred to the German market.
Furthermore, Greggs will have to abide by German legislation regarding the composition of the workforce in terms of gender, age, and ethnicity etc. Moreover, Greggs will have to ensure that wages are fair and competitive as no minimum wage has been defined by German law.
Processes - Greggs will need to ensure that an efficient, effective and reliable service is provided, from the first to the last point of contact. Greggs need to ensure that high service quality is delivered throughout the entire process. Any minor hindrances may affect consumer perceptions on the overall service and the brand.
Initially, it is the ease of access to the store that instigates a high quality service encounter. From then onwards, elements such as the speed and quality of the service delivery; the management and friendliness of staff; the comfortable furniture in-store etc. that trigger either a positive or negative judgment of the encounter.
Physical Evidence – Prospective customers will look for cues in the Greggs service environment to evaluate the product and service that is being offered.
The website, posters and leaflets all advertise the core product on offer and thus the professionalism and quality of them will be used to create assumptions of the offering. The uniforms of the employees, the servicescape, the furniture and décor must be of high quality to communicate the desired image. Napkins, bags and wrappers serve a functional purpose as they protect consumers from scolding foods and additionally communicate brand information.
The integration of all components of the marketing mix “form a major aspect of marketing concept implementation.”
9.0 Implementation
It has been stated that “effective implementation of an average strategy beats mediocre implementation of a great strategy every time” thus illustrating its importance.
9.1 Pre-Launch
As shown below on the critical path, an expatriate UK management team will be sent to Berlin in Germany 10 months prior to launch. This team would have already received intensive training at the UK head office to prepare them for the implementation process. The team will consist of a senior manager, a store manager and an assistant manager. Their main objectives will be to set up the store, recruit 1 German store manager, 2 chefs and 4 sales assistants & manage the delivery of raw materials. The UK management team will continue to guide and assist staff for 18 months post launch until the German store manager can competently take over this role.
9.2 Managing German Employees
In order to successfully implement the strategy, it is imperative that the German Store leader understands and replicates the overall values and vision of the business. Without a belief and understanding in the Greggs proposition and its operations, they will not be communicated effectively either to employees and consumers; and maintained once the UK management team returns home.
All employees will report to the German Store manager who will, in turn, report to the UK head office. Communication has been highlighted as a crucial component of effective strategy implementation and therefore update meetings will be held between management and employees weekly.
9.3 Suppliers
Suppliers will be reviewed and selected by the UK head office, however the German store manager will need to maintain sufficient relationships and time keeping with them to avoid under or over supplies. Having developed a relationship and in time, expanded their German operations, Greggs will profit from economies of scale.
9.4 German Business Practices
The ‘Ladenschlussgesetz’ or ‘Shop Opening Hours Act’ of 1996 states that business opening hours should be between 6am to 8pm on weekdays and 6am to 4pm on weekends. Germans work extremely long working hours compared to the UK.
Nevertheless, having employed a German store manager, Greggs business operations will be conducted to German market requirements.
Figure C – Critical Path (in months)
9.5 Training and Recruitment
Employees will benefit from 5 months intensive on-the-job training executed by the UK management team as shown in the critical. Although this initially appears a long time span, employees will not be trained simultaneously and 3 separate training programmes will need to be run by the UK management team. Firstly, the German store manager will need to be trained on the day-to day running of the business; secondly, the chef will need to be competently briefed on recipes and equipment as food production will be carried out in an in-store bakery; finally, the sales assistants will need to understand customer service requirements, till operations and how to ensure that the smooth and effortless flow of operations is achieved. Although there is a clear division of roles, the UK management team will need to ensure that the German team also works together to accomplish their common aim.
9.6 Support Systems
It is very important that initially the UK management team and later, the German store manager in the host country are provided with a “solid support network so (they are not) simply left alone to sink or swim.” Initially this support network will include a representative at the UK head office, monetary compensation, constant communication and travel opportunities however, as practices develop, Greggs will develop a support network in the host country.
9.7 McKinsey’s 7-S Framework
“Use of the McKinsey 7-S Framework is proposed as a means of assuring a company is properly organized to allow for implementation of a proposed strategy. 7-S Framework can be a very useful way to ensure strategic fit.”
The variables of the 7-S Framework are detailed below with reference to Greggs:
1. Strategy – Greggs have developed a coherent plan aimed at gaining a sustainable advantage over competition with their ‘English Bakery, convenience and ‘on-the-go’ propositions
2. Structure – Greggs have clearly outlined the roles and responsibilities of all employees indicating authority and the division and integration of duties;
3. Systems – Greggs will need to specifically highlight the processes and flows showing how an organization gets things done on a daily basis
4. Style – Having completed the induction programme, Greggs would have discussed their mission, vision, objectives e.g. high quality service, with the team thus giving the employees a feel of what management considers important. This can then be conveyed in their daily routines.
5. Staff - Greggs regard their employees as a valuable asset and the UK management team will actively recruit the best people for the job to ensure high quality service encounters.
6. Shared values – A German manager which believes and respects the Gregg’s vision and values will be recruited to ensure that they form the nucleus of operations.
7. Skills – These are derivatives of all the other components.
9.8 Expectations
As Greggs establish themselves in the German market place, they will benefit from economies of experience – “cost reductions that occur from continuous repetition of activities that allow for improvement with each successive act.”
Furthermore, sales will be expected to rise as German consumers become more aware of Greggs products and service through the promotional activities employed.
In light of the short term objectives, Greggs anticipate to encourage trial of their product offering. Through the use of word of mouth and an anticipated 5% redemption rate on the coupon promotion, they aim to secure a loyal consumer base.
10.0 Control
To ensure that objectives are met through the strategy implemented, a number of control mechanisms will have to be established in order to evaluate Greggs success in Germany.
Primarily, Greggs will have to review their performance in reference to their international marketing objectives. This will be conducted annually and any deviation may mean that their strategy and/or objectives need to be amended. Greggs may also benchmark their activities against the current market leaders in the market – Kuchenmeister. This will allow Greggs to assess their performance relative to competition.
Moreover, Hollensen has identified two methods of control used to monitor the progress of the organisation: ‘Output Controls’ maybe used by monitoring levels of expenditure and ensuring that budget targets are not exceeded. This will be the responsibility of the German Store manager and conducted on a monthly basis to enable swift turnaround if necessary. Secondly, to avoid focusing entirely on financial criteria, ‘Behavioural Controls’ will also be used. Greggs need to sufficiently train staff to ensure that service standards are met and will employ ‘mystery shoppers’ on a quarterly basis to measure standards of satisfaction.
In addition, Greggs will assess criteria such as sales targets, market share targets and profit levels against targets annually to ensure that they are being achieved relative to objectives.
Finally during the implementation process, Greggs will review their critical path (See Figure B) as it is imperative that they remain on track with procedures.
By applying these controls mechanisms Greggs may effectively monitor performance ensuring international marketing activities are carried out as intended. Furthermore, problem areas may be revealed and strategies to overcome these discrepancies may be implemented before escalation. However, the Greggs culture is such that these controls will be implemented loosely allowing for flexibility to respond to market changes.
11.0 References
Books
Doole, I. Lowe, R. (1999) International Marketing Strategy: analysis, development and implementation. 2nd edition, London: International Thomson Business
Hollensen, S. (2001)Global Marketing – A market-responsive approach. Essex: Prentice Hall
Jobber, D. (2001) Principles and Practices of Marketing. 3rd Edition. McGraw-Hill: Berkshire
Johnson & Scholes (2002) Exploring Corporate Strategy. 6th edition, Essex: Prentice Hall
Pickton, D. & Broderick, A. (2002) Integrated Marketing Communications. Essex: Prentice Hall.
Usunier, J. (2000) Marketing Across Cultures. 3rd edtion, Essex: Prentice Hall
Young, S., Hamill, J., Wheeler., C. & Davies, R. (1998) International Market Entry and Development. Hertfordshire: Prentice Hall
Journals
Chung, H. & Enderwick, P. (2001). An investigation of market entry strategy selection: Exporting vs foreign direct investment modes – a home-host country scenario. Asia Pacific Journal of Management.
Reuters Business Insight. (2004) Growth Strategies in Bakery Strategy. Boston: Vol. 2, Issue 3
Sterling, J. (2003) Translating strategy into effective implementation: Dispelling the myths and highlighting what works. Proquest
Tayeb, M. (2000). International Business – Theories, Policies and Practices. .London: Pearson Education Limited
Waterman, Robert H., Jr. (1982). The seven elements of strategic fit .The Journal of Business
Internet Sources
Datamonitor accessed 09/12/03
Euromonitor accessed 03/11/03
Greggs Plc accessed 23/10/03
Destatis accessed 15/12/03
The World Gazette accessed 12/12/03
Other Sources
Greggs Annual Report and Accounts 2002. The Taste of the Nation
Palmer, M. Distribution and Retailing Lecture 4. Aston Business School
Appendix 2 - PEST Analysis for Germany
Appendix 3 - Porters 5 Forces: The German Bakery Market
Threat of New Entrants
Greggs will need to confront the following barriers in order to establish themselves as a competitive force within the industry:
- The cost of setting up an international base in Germany could prove to be a barrier to entry, however Greggs have sufficient funds to overcome this barrier and successfully enter the market.
- Greggs have not yet established access to distribution channels. However the German bakery market is fragmented and it is therefore unlikely that any competitor has secured distribution channels to block Greggs’ entry into the market.
- Greggs has no experience of operating in the German market which may put them at a disadvantage over competitors.
- Greggs will be selling a differentiated product offering compared to other competitors in the market – English bakery products. To an extent this will insulate them against alternative bakery retailers.
Threat of Substitutes
- There are a variety of other foods which satisfy the same ‘indulgent’, ‘convenient’ and ‘on the go’ proposition as Greggs. This could include stores such as donut retailers, newsagents who sell crisps and chocolate or fast food outlets e.g. McDonalds.
-
Greggs may also compete for the disposable income of consumers. This is referred to as “Generic Substitution”. With reference to this, Greggs could potentially be substituted for other sources of household spend.
Bargaining Power of Buyers and Suppliers
- Buying power is high because there are a lot of bakery retailers in the market and hence Greggs’ power is reduced.
- Low switching costs and little risk of switching to an alternative bakery retailer which increases buyer power.
- The suppliers customers are highly fragmented which increases supplier power.
Competitive Rivalry
- There is no 1 dominant rival in the market which reduces the intensity of competition
- The market is still growing and therefore bakery retailers can grow without cannibalising the sales of competitors. This reduces competitive rivalry.
- The Greggs offering is highly differentiated and therefore this discourages customers from switching to their competitors.
International Marketing Greggs PLC Page of
Reuters Business Insight, Growth Strategies in Bakery.
Young, S., Hamill, J., Wheeler., C. & Davies, R. (1998)
Reuters Business Insight ,Growth strategies in bakery markets
Tayeb, M. (2000). International Business – Theories, Policies and Practices London: Pearson Education Limited
Reuters Business Insight ,Growth strategies in bakery markets
Reuters Business Insight – Growth strategies in bakery markets
Jobber, D. (2001) Principles and Practices of Marketing. 3rd Edition. McGraw-Hill: Berkshire
Doole, I. Lowe, R. (1999)
Greggs Annual Report and Accounts 2002 – The Taste of the Nation
Greggs Annual Report and Accounts 2002 – The Taste of the Nation
Chung, H. & Enderwick, P. (Dec 2001) An investigation of market entry strategy selection: Exporting vs foreign direct investment modes – a home-host country scenario. Asia Pacific Journal of Management.
Chung, H. & Enderwick, P. (Dec 2001) An investigation of market entry strategy selection: Exporting vs foreign direct investment modes – a home-host country scenario. Asia Pacific Journal of Management.
Source: Wed, November 5, 2003 2:24 pm)
See Appendix – Porters 5 Forces
Chung, H. & Enderwick, P. (Dec 2001) An investigation of market entry strategy selection: Exporting vs foreign direct investment modes – a home-host country scenario. Asia Pacific Journal of Management.
Pickton, D. & Broderick, A. (2002) Integrated Marketing Communications. Essex: Prentice Hall.
Reuters Business Insight – Growth Strategies in Bakeries
See Appendix 3 – Porters 5 Forces
Jobber, D (2001) Principles and Practice of Marketing. 3rd Edition. Berkshire: Mc-Graw Hill
Proquest, Sterling, J. (2003) Title: Translating strategy into effective implementation: Dispelling the myths and highlighting what works
Proquest, Sterling, J. (2003) Title: Translating strategy into effective implementation: Dispelling the myths and highlighting what works
Mark Palmer – Distribution and Retailing Lecture 4
Hollensen, S. (2001). Global marketing, a market-responsive approach. (2nd Edition). Harlow, Financial Times Prentice Hall.
Waterman, Robert H., Jr. (1982). The seven elements of strategic fit .The Journal of Business Strategy. Boston: Vol. 2, Iss. 3; p. 69
Hollensen, S. (2001). Global Marketing – A market-responsive approach. Essex: Prentice Hall
Hollensen, S. (2001). Global Marketing – A market-responsive approach. Essex: Prentice Hall