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Marketing strategies - Coursework Example

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Marketing strategies

In order to find the strategies and evaluate the factors which will help Murgitroyd to grab the market share at China and expand their business in the next 24 months the company’s strength, weakness, opportunities and threats are evaluated which will help the company to implement their strategies successfully. The global market opportunities are assessed by finding the sales potential in the market. The foreign market sustainability of the products is also needed to be done to find whether the product is suitable for the target market or not. Screening the potential market is the next step the company should follow investment. Then the key business partners and the distributors’ availability are researched who are the main drivers of the business. Understanding the customer behaviour is also an important factor which will help the company to estimate the sales forecast of Murgitroyd. ...
Companies are essentially spending huge amounts of resources towards research and development to create unique products. Firms are also trying to protect their intellectual property rights so as to prevent their competitors from infringing and illegally using their research. This has also augured numerous opportunities for organizations that provide patent and copyright protection to the firms. The present study would analyse the business strategies of a Murgitroyd and Company with regards to its business strategies in China so as to improve its market share in the nation in the coming 24 months (Miele, 2000, p.1). Murgitroyd and Company is a UK based patent and copyright consultancy firm that provides legal and consultancy services to business organizations for protecting their intellectual property rights. The company provides services to its clients based across UK, Finland, France, Germany, Spain, Ireland, Italy, Japan and the United States of America. The company has over the years grown as a mature organization with a dedicated workforce and is presently considered to be one of the leading consultancy firm of its kind in the European market (Murgitroyd & Company-a, 2011). The Chinese market provides opportunities to the organization considering the large number of manufacturing organizations present in the nation. The technological advancement at China with growing demand for the enterprise IP services gives a great potential for the company to explore their business in this part of the world. However there are certain challenges in the nation that mainly arise due to certain legal aspects. (The Economist, 2005, p.1-9). Moreover with the government largely favouring domestic players ...Show more

Summary

Marketing strategies Table of Contents Executive summary 4 Introduction 4 SWOT analysis 6 Assess the suitability of the firm’s services for foreign market 9 Success at domestic market 9 Product or service uniqueness 10 Particular need in the specific market 10 Emergency need of product or services 10 Screening Regions to Identify Target Markets 11 Assess Industry Market 13 Select foreign business partner 15 Estimate firm sales potential 17 Conclusion and recommendation 19 References 21 Executive summary Murgitroyd and Company is a European Patent and Trade Mark Attorney service provider headquarters in Glasgow and business offices at various parts of the world…
Author : marcussawayn
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