Int Marketing 2
Introduction
1.1 Company current position
Secret Recipe, a firm in food and beverage industry, started back in 1997 and got widely well-known gradually in southeast Asia for its fine quality epicurean cakes. This café chain founded in Malaysia and by today it is already expanded in the region countries such as Indonesia, Singapore, Thailand and etc. with more than 300 outlets. They are the largest café chain holding Halal certification in Malaysia and they have entitled as the Superbrand of Malaysia in 2004 (Secret Recipe, 2014). While providing quality food at moderate price, this café chain is committed to offer a pleasant service dining experience for customers in a comfort interior concept of outlet. The company has been growing rapidly as they have expanded internationally for the past five years.
1.2 Corporate objective and goals
Secret Recipe new objective is entering foreign markets especially ones with big competitive environment like Japan. Entering and surviving in this market will not be applicable unless a deep and consistent analyse and research be done. These studies must cover target market segment and positioning strategy, market entry strategy, product, distribution, pricing, and promotion strategy in order to compete and stay successfully in Japan’s market.
2.0 Target Market: Japan
2.1 Target market description
The aimed foreign market was selected in accordance to its strength, size and growth rate for the past years. Being sensitive to elegance and modern lifestyle made Japanese a crucial target for this modern café chain. They owns one of the world’s largest economies and consumers, and the fourth largest by purchasing power parity due to the high standard of income and following by a powerful middle (World Bank, 2014). For instance, Taking advantage of the urban expansion such as high number of shopping centres can be helpful for secret recipe outlets. According to World Bank, Japan with a high concentration in population of 127.6
1.1 Company current position
Secret Recipe, a firm in food and beverage industry, started back in 1997 and got widely well-known gradually in southeast Asia for its fine quality epicurean cakes. This café chain founded in Malaysia and by today it is already expanded in the region countries such as Indonesia, Singapore, Thailand and etc. with more than 300 outlets. They are the largest café chain holding Halal certification in Malaysia and they have entitled as the Superbrand of Malaysia in 2004 (Secret Recipe, 2014). While providing quality food at moderate price, this café chain is committed to offer a pleasant service dining experience for customers in a comfort interior concept of outlet. The company has been growing rapidly as they have expanded internationally for the past five years.
1.2 Corporate objective and goals
Secret Recipe new objective is entering foreign markets especially ones with big competitive environment like Japan. Entering and surviving in this market will not be applicable unless a deep and consistent analyse and research be done. These studies must cover target market segment and positioning strategy, market entry strategy, product, distribution, pricing, and promotion strategy in order to compete and stay successfully in Japan’s market.
2.0 Target Market: Japan
2.1 Target market description
The aimed foreign market was selected in accordance to its strength, size and growth rate for the past years. Being sensitive to elegance and modern lifestyle made Japanese a crucial target for this modern café chain. They owns one of the world’s largest economies and consumers, and the fourth largest by purchasing power parity due to the high standard of income and following by a powerful middle (World Bank, 2014). For instance, Taking advantage of the urban expansion such as high number of shopping centres can be helpful for secret recipe outlets. According to World Bank, Japan with a high concentration in population of 127.6
References: Adams, J., & Jones, K. V. (1990).Franchising (3rd ed.). .: Butterworths. Busiest airports. (2012, Mar 27). City A.M. Retrieved from http://search.proquest.com/docview/940918714?accountid=12528 Datamonitor Fletcher, R., & Crawford, H. (2011). International Marketing: An Asia-Pacific Perspective (5th ed.). Frenchs Forest, NSW: Pearson. Foo, K Raiswell, J. (n.d.). Eat Like The Japanese. AskMen. Retrieved May 12, 2014, from http://www.askmen.com/sports/foodcourt_200/201_eating_well.html Reference for Business Secret Recipe. (2014). About us. Retrieved from http://www.secretrecipe.com.my/about-us/page- 2113.html Sen, K Venture Japan 2014. Retrieved May 21st, 2014, from http://www.venturejapan.com/japanese-business-tax.htm Weeratunga, P., Jayasinghe, S., Perera, Y., Jayasena, G., & Jayasinghe, S World Bank. (2014). Japan data. Retrieved from http://data.worldbank.org/country/japan