Write 10 page essay on the topic Contemporary and International Marketing.
The company employed some new initiatives when shifted to Stoke On Trent. Like Montrose corporate range. Company has two new brands namely Montrose crystal and Tutbury crystal eponymous. The former product aimed at corporate and gift sections. While the later aimed basically on consumer market and hand crafts. The products have standards and also personalized. Personalized means to engrave name or certain other information on it. Bespoke items are also available. Bespoke products are those products which have some other shape than the normal shape. Also it is exclusive according to the requirement of the customer.
The Montrose crystal is less complex than the traditional designs of Tutbury crystal. It has lesser number of cuts. But overall it is more contemporary. The quality of the crystal can be judged by the sparkle and glare. It is not easy to judge the quality of crystal. The content of lead is less in Montrose range than the Tutbury crystal.
Tutbury Crystal invests 60% of its sales to the direct factory work 30% to the organization and rest 10% to the retailers. The company is now providing facilities to create shape of their own choice through internet. These products are almost 10% cheaper than their competitor like Waterford. The other competitor in his field are Royal Brierly and Royal Doulton.
The detail of distribution of its sales is like 60% is the breakdown price. 10% profit before tax and approximate 8% is the overhead cost 15% is direct labor cost and 6.67% for the material. Its middle east turn over is of about 95%.
Tutbury crystal is now looking for its expansion in other countries. This will expand the business and increase its sales and market capitalization. This expansion is also called market entry mode. The entry scheme should be properly designed or it may even cause a big loss to the company. Their are some points which should be kept in mind before entering into another country. These includes the export strategy, the investment strategy and the contractual strategy.
If they are designed properly keeping the keen observation about the market of any other country then it will be easy for the company to jump into the market of that company with cheaper rate and equal quality. These categories help to assess the characteristic of product and its power to capture the market.
The national market is independent of other national market. There are many factors that influences the global market. There is a lot of competition in global market. The position of company in any national market effects the image in other country also and this cumulative process causes the company to successfully capture the global market.
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