Marketing business plan sample

There are many modes of entry that Lululemon Athletica could adopt for it to establish a customer base and penetrate into the market of China. The company is ideal for China because of the history and love the country has for Yoga. Therefore, the entry mode does not need to involve too much effort. It needs to be simple, technologically versatile and a tool that can reach a substantial number of people in a small period. The internet, therefore, is the best mode of entry into the Chinese market. The other methods of market entry such as the use of international distributors could work too, but China is a country that is highly populated. It is the nation with the highest population in the world and is host to 1. 35 billion people. To reach all these people, the internet would prove to be a good medium because it can reach everyone who has access to it (Ireland, Hoskisson & Hitt, 2008). In a technologically advanced world we reside in; the internet is everywhere. Therefore, it is a medium that will ensure that a large number of people in China have knowledge about Lululemon Athletica.
In Canada, the use of distributors and other forms of marketing worked because of its small population and geography, which is unlike China. The internet is a replacement of the traditional forms of marketing that is both cost effective and ensures that the company covers a vast market. Using the phased approach, an evaluation or discovery step can be the first to determine the financial and target market issues are covered when the internet is used as a marketing medium. The evaluation method in the phased approach requires a deep evaluation into the aspects of finance and target market before establishing the strategies for marketing. In this case, the target market is every sports or Yoga lover in China, which is a good percentage of the Chinese population. The percentage needs to be reached by use of a reliable medium, which the internet presents. In addition, it will ensure that revenue and profits are increased because of the increase in market opportunities. The idea behind the use of the internet is to facilitate the people’s awareness of the product and introduce it to the market. The internet is ideal because it offers an opportunity where everyone is introduced to the product by the click of a button. It will only take a few Chinese users to make a page or website for Lululemon Athletica popular, and thus place it in good ranks among Chinese users. Thereafter, everybody will be aware of the product, which will help generate good sells, thereby taking care of the financial aspect.
Research shows that China forms the world’s largest base of internet users and subscribers. It is an indicator that the Chinese are more likely to respond to eMarketing. In addition, a good number of the most successful companies in China rely on the internet for marketing of their products. The internet use enables China to connect with people within and outside their growth wall. A good example of eMarketing that has thrived in China is the Alibaba Company. The company is an example of how Chinese users have taken over the world of technological marketing and rid themselves of traditional forms. Based on these, the internet will be the perfect entry mode into the Chinese market. It is a good strategy to draw people’s attention to Lululemon Athletica. If a phased approach is planned, the use of internet for marketing will be one of the strategies that will be employed. The purchasing power of China stands at $13. 39 trillion, which is very high. Part of the reason that China has an economy that has thrived is its ability to incorporate the current trends into its economic activities. The economic landscape of China is radical and dynamic to suit the needs of the economic world at a particular time. The use of internet and technology is one way in which China appreciates the radical change in the business world. For Lululemon Athletica to break into the business scene in China, it needs the widely accepted eMarketing as an entry mode into the market.
In addition, the branding and type of products and services provided by Lululemon Athletica can be most appropriately introduced into the market using the internet. All the other methods available cannot fully exploit the rationale behind the ideas of the services. The internet provides appeal and gives the consumers a clear picture of what the products and services entail. The culture of the Chinese people is represented through people who highly value luxury goods and services. Things such as Yoga and sports are among the laxities that the Chinese market will embrace. There is no better or appropriate way to present the luxury of goods and services than through the internet. Other forms of entry present forms of marketing that will not incorporate the scope of the culture of Chinese people, and will take time before the message gets home. The internet is an instant messenger and can greatly idealize the aspects of culture through Lululemon Athletica.
The phased approach timeline in this case will incorporate the evaluation of the market targeted by internet advertising. The market will then shape the financial expectations of the products in the Chinese market. The evaluation process will help determine what aspects of the product need to be projected to reach the target audience. Lululemon Athletica targets the affluent Chinese people who love to exercise and perform Yoga. They will help shape the financial aspects of the company. The second phase to be considered by the Phased approach is the development of the necessary strategies that incorporate the aspects evaluated upon and discovered in the first phase. In this phase, strategies that accrue to internet marketing are important with the view of what the market comprises. The stage incorporates how the entry mode will be established; the activities involved and the adoption of a proper framework for it to work. The phase could include where to advertise and which mediums of the internet to use. For instance, it could be the use of social media, websites or Google pages. The strategies adopted will be in synch with the Chinese market on target. The last phase in the use of the internet as an entry mode will be the implementation plan stage. In this case, the time phase, resources and ideas needed for internet marketing will be provided and prepared for implementation. In addition, the implementation process includes a specific time frame that will address the ideas and determine if they work or not. If they do not, the implementation period allows for a reevaluation process and change in strategies.

Reference

Ireland, R. D., Hoskisson, R. E., & Hitt, M. A. (2008). Understanding business strategy: Concepts and cases. Mason, OH: South-Western Cengage Learning.