International retailingFinance | Consumers | Strategy
International retailing gave me the chance to explore a different industry to that of Fashion and to utilise my knowledge and learn new skills in a new field of business. Our brief was to internationalise a retailer or business into a new market overseas. We therefore had to think about, financial considerations, supply chain management, cultural awareness, brand identity, marketing and business mentality. I decided to focus on the UK drinks bar Fuel Juice as through research I found that the business had stabilised and established itself in the UK market and therefore there was an opportunity to diversify the business by internationalising overseas. After looking at potential markets to enter, Austria offered opportunities for Fuel Juice Bar to thrive and therefore this was the chosen market. Through this module I had to justify the chosen country through relevant research and analysis, I then had to decide what market entry method I would chose which was franchising and then how I would market the concept. Internationalisation allowed me to create a comprehensive business plan with in depth analysis and justification. Through this module I learnt that Internationalising a business creates healthy, profitable growth and allows the retailer to reach a new set of consumers for brand expansion. It also allows for market penetration, proximity and product innovation for a business. |