From the real international market, select a company of your choice wishing to start its activities in Saudi Arabia. The Company hired you as Marketing Manager of Saudi Arabian Region. You have to establish a marketing department starting from the Analysis of the market, formulate overall marketing goals, objectives, strategies, and tactics within the context of an organization’s business, mission, and goals designing and planning the entire function.

QUESTION

Marketing Plan

From the real international market, select a company of your choice wishing to start its activities in Saudi Arabia. The Company hired you as Marketing Manager of Saudi Arabian Region.

You have to establish a marketing department starting from the Analysis of the market, formulate overall marketing goals, objectives, strategies, and tactics within the context of an organization’s business, mission, and goals designing and planning the entire function.

Write a Marketing Plan considering the following points (2×5=10 Marks)

1.Introduction, Goals and Objectives

To introduce this section you should include the “mission statement” of the business; an idea of what its goals are for customers, clients, employees and the consumer.

a.Introduction about the business.

b.Business vision and mission

c.Business objective.

d.Products and services offered

2.Environmental Analysis

Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers.

3.Target Market Analysis

Identify the target market, describing how the company will meet the needs of the consumer better than the competition does.

4.SWOT Analysis

Conduct a SWOT analysis for your chosen company based on your research.

Strengths: List the strengths of the business approach;

Weaknesses: Describe the areas of weakness in the company’s operations;

Opportunities: Examine factors that may improve the business’s chances of success;

Threats: List the external threats to the business’ success.

5.Marketing Mix (4 P’s ) Analysis

Describe each of the 4Ps of your chosen company.

Product or Service

Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where the product sits in comparison to similar products/services now available.

Place

Identify the location of the business, why it is located there (strategic, competitive, economic objectives), the expected methods of distribution, and timing objectives.

Promotion

Describe the type of promotional methods that will be used. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, social media and newspaper ads.

Price

The prices of the products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.

ANSWER

Marketing Plan for Company X in Saudi Arabia

Introduction, Goals, and Objectives

Company X is a global technology company specializing in the development and distribution of innovative consumer electronics. With a focus on delivering cutting-edge products that enhance the lives of individuals, Company X aims to establish a strong presence in the Saudi Arabian market.

Our vision is to become the preferred provider of technology solutions that empower individuals and businesses in Saudi Arabia. Our mission is to deliver exceptional products and services that meet the evolving needs of our customers, while fostering long-term relationships based on trust and innovation.

The primary objective of Company X in Saudi Arabia is to capture a significant market share by introducing our latest range of smartphones, tablets, and wearable devices (Dwivedi et al., 2021). We aim to establish a strong brand reputation, achieve sustainable growth, and provide exceptional customer experiences.

Company X offers a diverse portfolio of products, including high-performance smartphones with advanced features, tablets for productivity and entertainment, and wearable devices for health and fitness tracking. Our products are designed to provide seamless connectivity, cutting-edge technology, and exceptional user experiences.

Environmental Analysis

To ensure a successful market entry in Saudi Arabia, we must conduct a thorough environmental analysis. This analysis will help us understand the local area and our network of business contacts, competitors, and customers.

In Saudi Arabia, the demand for consumer electronics is rapidly growing due to the country’s young and tech-savvy population. The government’s initiatives to promote digital transformation and smart cities also present opportunities for technological advancements. The high disposable income and increasing urbanization also contribute to a favorable market environment for our products.

We will assess the competitive landscape in Saudi Arabia, analyzing both local and international competitors. By understanding their strategies, product offerings, and pricing, we can identify areas where we can differentiate ourselves and provide unique value to consumers.

Furthermore, we will study the preferences and behaviors of Saudi Arabian consumers regarding technology products. This will involve analyzing market research data, conducting surveys, and gathering insights from focus groups. Understanding consumer needs and preferences will enable us to tailor our products and marketing strategies accordingly.

Target Market Analysis

Our target market in Saudi Arabia will primarily consist of tech-savvy individuals, young professionals, and early adopters of technology. These segments have a strong inclination towards cutting-edge devices and are willing to pay a premium for superior quality and features.

To meet the needs of the Saudi Arabian consumer better than the competition, we will focus on delivering products that combine innovation, reliability, and value for money (Haleem et al., 2021). By leveraging our expertise in technology and understanding the local market dynamics, we will develop products that address our target audience’s specific requirements and preferences.

SWOT Analysis

To evaluate our position in the Saudi Arabian market, we will conduct a SWOT analysis:

Strengths:

– Strong brand reputation and global presence

– Extensive product portfolio catering to diverse customer needs

– Technological expertise and innovation capabilities

– Strong supply chain management and distribution network

Weaknesses:

– Limited brand awareness in the Saudi Arabian market

– Need to localize marketing strategies and product offerings

– Potential challenges in adapting to local regulations and cultural norms

Opportunities:

– Growing demand for consumer electronics in Saudi Arabia

– Government initiatives promoting digital transformation

– Collaborations with local partners to enhance market penetration

Threats:

– Intense competition from local and international players

– Rapid technological advancements and changing consumer preferences

– Economic and political uncertainties impacting consumer spending

Marketing Mix (4 P’s) Analysis

Product:

Our products include high-performance smartphones, tablets, and wearable devices. They offer advanced features, seamless connectivity, and exceptional user experiences. We will position our products as innovative, reliable, and user-friendly, catering to the specific needs of the Saudi Arabian market.

Place:

We will strategically locate our offices, distribution centers, and retail outlets in key cities across Saudi Arabia. This will ensure convenient access for customers and enable efficient distribution. We will also explore partnerships with local retailers to expand our reach and strengthen our distribution network.

Promotion:

Our promotional methods will encompass a mix of traditional and digital channels. We will utilize targeted advertising through television, radio, social media, and newspaper ads to create brand awareness and generate product interest (Barone, 2023). Additionally, we will leverage influencer marketing and engage in public relations activities to enhance our brand reputation.

Price:

Our pricing strategy will reflect the overall company strategy, aiming to be competitive while ensuring profitability. We will consider factors such as product quality, features, and costs, as well as the pricing strategies of our competitors. By offering a compelling value proposition, we will attract customers and establish our products as premium yet affordable options in the market.

Conclusion

In conclusion, Company X’s marketing plan for Saudi Arabia focuses on capturing a significant market share by introducing innovative consumer electronics. Through a thorough environmental analysis, target market analysis, SWOT analysis, and a well-defined marketing mix, we aim to establish a strong brand presence, meet customer needs, and achieve sustainable growth in the Saudi Arabian market.

References

Barone, A. (2023). Digital Marketing Overview: Types, Challenges, and Required Skills. Investopedia. https://www.investopedia.com/terms/d/digital-marketing.asp 

Dwivedi, Y. K., Ismagilova, E., Hughes, D. H., Carlson, J., Filieri, R., Jacobson, J., Jain, V., Karjaluoto, H., Kefi, H., Krishen, A. S., Kumar, V., Rahman, M. M., Raman, R., Rauschnabel, P. A., Rowley, J., Salo, J., Tran, G. A., & Wang, Y. (2021). Setting the future of digital and social media marketing research: Perspectives and research propositions. International Journal of Information Management, 59, 102168. https://doi.org/10.1016/j.ijinfomgt.2020.102168 

Haleem, A., Javaid, M., Singh, R. P., & Suman, R. (2021). Telemedicine for healthcare: Capabilities, features, barriers, and applications. Sensors International, 2, 100117. https://doi.org/10.1016/j.sintl.2021.100117