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International Marketing Management Essay

3461 words - 14 pages

International Marketing Management
 
 

TABLE OF CONTENT
TOPIC PAGE NO
EXECUTIVE SUMMARY
OVERVIEW........ 5
QATAR KEY FACTS ................................................................................................................. 8
THE PESTLE FRAMEWORK.................... .............................................................................. 10
ECONOMIC ENVIRONMENT.................................................................................................. 11
SOCIO-CULTURAL ENVIRONMENT........................................................................................ 14
TECHNOLOGICAL ...view middle of the document...

Therefore Damro has to employ careful marketing strategies to capture the attention of Qatar customers and their liking grows towards Damro.
Since the majority of the population is expatriates, i.e. young adults and adults with high spending habits the company intended to target them. The rich look and high quality of furniture would naturally attract this segment of the population and they will be interested in DIY projects. The expatriates do not buy furniture to last generations and high quality treated wood furniture suits their needs ideally.
On analyzing the Qatar market it was found that Damro products have a huge market opportunity. With the high quality, new & innovative designs, competitive prices Damro can be the market leader as in Sri Lanka within a short period of operations.
The furniture market is growing by 20-25% annually. Though there are other furniture dealers, there are no direct competitors as Damro is offering unique DIY products at lowest possible prices. Damro intends to become a supplier for the Qatar government by bidding for state projects.
Considering marketing mix and focus on segmentation, Damro is based on income and geographic bases. Damro is positioned in the market for high quality, new designs and low price.
Damro can target the expatriates to use Damro product while in Qatar and create the need for them to buy Damro DIY furniture kits to take along with them to use in their respective countries. Most of the population visit their homelands annually and have the habit of taking gifts and belongings as lorge volume consignments by air or sea.
Foremost, as much as the marketing plan Damro needs to pay attention to the marketing audit that includes socio-cultural analysis, industry analysis and competitor analysis in Qatar.
Thus, when Damro intends to enter into a foreign market like Qatar, it has to well equip itself and find solutions for possible situations / conditions that may arise to hinder its successful market penetration and reach the market leader position in the Qatar Household Furniture Market.

The challenges of funding overseas business successfully especially in relation to working capital management.
At the outset, Damro is venturing into Qatar with high quality low priced Do-It-Yourself household furniture packs. Damro has a network of over 100 showrooms in Sri Lanka and the majority from the initial stock is production surplus. Under this circumstances, the opening cost of the stock is considerably less for Damro and being an established company with over US$ 20 million annual turn-over Damro is in a well established financial position for Qatar venture.
Since this is the first time Damro is venturing into international markets, the company is cautious of the future and interested in getting a clear view of internal and external factors that would affect the sales of Damro furniture in Qatar.
The PESTEL analysis carried out helped to ascertain Qatar furniture market.
Qatar
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