SUBJECT TITLE : GLOBAL MARKETING MANAGEMENT
SUBJECT CODE : MARK 1042
TUTOR NAME : MR.PRADEEP PARAMAN
The authors are delegated task to prepare an international market entry plan for Genting Group to penetrate into the new market of Macau, China. The plan is written in a report format with clear layout and presentation. The report is divided into several sections including introduction, target country, situational analysis, organizational objective, market entry strategy, marketing mix, contingency plan and conclusion.
In introduction, the company background and history of Genting Group / Casino will be briefly brought out by focusing on the successful development of it. The target country – Macau, will be researched based on its location, demographic and social aspect to provide an introductory analysis of this new market. Following that, a detailed situational analysis will be done by deriving some authoritative theories, models and strategies like Porter’s Diamond Model, Porter’s Five Forces, SWOT analysis, Porter’s Value Chain, and PESTEL analysis. These analyses will well compare the market of Macau against the micro-environmental factors of Genting Casino. To be convincing, evidences, references and justifications will be given to substantiate the contents.
After the analysis of Genting Casino itself and the new market of Macau, market entry objective will be identified to vividly state the vision and mission of the casino towards this new market. The authors will adopt the strategy of SMART objective as a guidance to identify it by separating it into few aspects. Subsequently, an international market entry plan will be presented by recommending some strategies to Genting Casino. For instances, Foreign Direct Investment (FDI) and wholly-owned subsidiary company. The advantages of using these strategies will be stated to convince the company of their practicability. A marketing mix will also be prepared for Genting Casino to market itself when it has successfully penetrated into the lucrative market of Macau. As gambling industry is more into the service kind of product, the authors will use 7Ps instead of 4Ps. To be prepared for the unforeseenable threats and challenges, contingency plan will be suggested to encounter these risks. Two theories will be adopted – Ansoff Matrix and Product Life Cycle. The authors believe that the contingency plan is essentially needed for market expansion into foreign country. Finally, a conclusion will be drawn to summarise the report by stating the positive expectancy on Genting Casino’s international market entry. Table of Content
Title Page Header Sheet 1 Executive Summary 2 Table of Content 3 1.0 Introduction 4 2.0 Target Country – Macau 5 2.1 Demography 5 2.2...