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Our company plans to market its fruit jam in a foreign market — the targeted country for our product in Ghana. The company produces quality fruit jams that can compete in the global market. The company plans to use the best marketing strategy for its organic jam. The proposed marketing approach will make the company profitable because Ghana is politically and economically stable (“Basic Guide to Exporting” 56).
Ghana’s food sector continues to attract both local and international investors. The situation explains why this sector is growing rapidly. This discussion presents the best financial considerations, sales strategies, distribution approaches, and marketing promotions. Such strategies will make the company successful in the Ghanaian market.
Financial Considerations: Price and Budget
Pricing and budgeting are critical practices in every business organization. My company will identify the best prices for its natural jam. Such financial considerations will ensure the marketing strategy is competitive (“Trade Freedom: How Imports Support US Jobs” par. 2). The best price for our fruit jam in Ghana will be approximately 3USD. This is equivalent to 12GHS. This pricing strategy is relevant to supporting our business goals. My corporation will use the table presented below to market its jam. The table below summarizes our budget for marketing jam in Ghana.
|Price for Jam||USD (USA Currency)||GHS (Ghana Currency)|
|In the United States||Approx $2||7|
|In Ghana||Approx $3||12|
Most of our targeted business partners will include supermarkets, restaurants, and hotels. My company plans to market its fruit jam to 10 hotels, 10 restaurants, and 3 supermarkets within the first month of business. Such businesses receive many customers from different regions across the country (Buckley, 36). This strategy will also ensure the company is on the right path towards achieving its business potentials.
Sales Strategy and Distribution
Successful businesses “use effective sales strategies and distribution channels” (Buckley, 37). Such companies hire the right people to inform their consumers about every new product or service. My company will use a proper sales strategy in order to achieve its business objectives. The approach will entail the use of billboards and brand ambassadors.
Our marketers and advertisers will design the best posters for every product. Such posters will appear on billboards across Accra. This practice will sensitize and inform more people about our quality fruit jam (“Trade Freedom: How Imports Support US Jobs” par. 5). My firm also plans to appoint a famous Ghanaian celebrity to represent the targeted product. My favorite celebrity will be Kofi Adu. Kofi is a famous person in Ghana. He has appeared in many Ghanaian movies. Kofi Adu will represent our fruit jam in the country.
I am also planning “to appoint a local agent to bid for contracts at supermarkets, restaurants, and hotels” (Akkaya 7). The appointed agent will ensure our products are available in every hotel or supermarket in Accra. My company will also appoint new agents in order to have a successful sales strategy (Akkaya 8).
There are countless radio stations in the country. Many radio stations in the country tend to have their listeners. This situation explains why my company will use several radio stations to attract more customers. Some of these radio stations will include Accra FM, Obonu FM, Vision FM, Atlantis Radio, and Garden City Radio. These stations will inform more listeners about the superiority of our fruit jam (“Develop an Import Strategy” par. 4).
Our company also plans to co-sponsor various health walks and marathons. This practice will make the company socially responsible. The “strategy will attract more stakeholders and business partners because our product is sugar-free and healthy” (Rostro and Grudzewski 24). For instance, we are planning to sponsor the Milo Marathon. Many people expected the marathon to take place in September 2014. Several Ghanaian companies and radio stations offer various gifts to their loyal listeners. My company “will be part of Joy FM Christmas food giveaways” (“Develop an Import Strategy” par. 4).
A business cannot achieve its goals without an effective promotional strategy. Promotion is a powerful practice because it helps businesses inform their consumers about every product or service. The first approach “is identifying the most profitable market” (Hunt and Arnett, 18).
I will also use the appropriate marketing mix to inform more Ghanaians about our fruit jam. My company plans to hire several marketers and promoters. These individuals will embrace the concept of personalized marketing. I will encourage every customer to give us his or her email address (“What Role Can Social Media Play For Your Business Organisation?” par. 3). The firm will update its consumers about every new product in the market.
I will support the best public relations at the company. I will also analyze the promotional practices used by our competitors (Shimp, 37).
I will use quality adverts that attract the attention of many Ghanaians. My firm “will use a follow-up approach to ensure every customer is satisfied with the jam” (Ward 76). I will use trade promotions to reward my customers. I will encourage every stakeholder to be part of the firm’s business philosophy. The above marketing strategy will make it easier for the company to realize its business goals.
Akkaya, Faith 2013, Global Marketing Strategies. Web.
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Basic Guide to Exporting: The Official Government Resource for Small and Medium-Sized Businesses. New York, NY: International Trade Administration, 2012. Print.
Buckley, Peter. Innovations in International Business. New York, NY: Palgrave Macmillan, 2012. Print.
Develop an Import Strategy 2014. Web.
Hunt, Shelby and Dennis Arnett. “Market Segmentation Strategy, Competitive Advantage, and Public Policy: Grounding Segmentation Strategy in Resource-Advantage Theory.” Australasian Marketing Journal 12.1 (2004): 7-26. Print.
Rostro, Francisco and Wieslaw Grudzewski. “Marketing Strategic Planning as a Source of Competitive Advantage for Mexican SMEs.” Economics and Organization of Enterprise 1.1 (2008): 19-27. Print.
Shimp, Terence. Advertising Promotion and Other Aspects of Integrated Marketing Communications. New York, NY: Wiley, 2009. Print.
Trade Freedom: How Imports Support US Jobs 2012. Web.
Ward, Stephen. Selling Places: The Marketing and Promotion of Towns and Cities 1850-2000. New York, NY: Routledge, 2005. Print.
What Role Can Social Media Play For Your Business Organisation? 2014. Web.