After reading the case study Go East, Young People, Go East I will answer in detail each question. First what approach do I feel Electronic Visions should use when moving into the Asia market. Next how could the four P’s help Electronic Visions? Finally, will global coordinated play a problem. The approach I would use is the global strategy. I choose the global strategy because Electronic Visions will have completive prices and will plan to increase their profits and sales with their products.
I don’t feel Electronic Visions is a well-known name but by moving into Asia I feel their name will become a major name in the Asian countries. I also feel if they move into Asia it wouldn’t take them very long to expand if their product did expand.
By using the four P’s of marketing this company can greatly increase their chances of being successful. First Electronic Vision needs to know what kind of product would satisfy their customers in their new market.
Also how and where can the customer use it? When dealing with Asia there could be some different plugins or certain products that they must have with the products that Electronic Visions are selling. Where the customers are going to use it is a very big thing to consider. They may be on the go a lot and a smaller compact product with a longer lasting battery would be very useful. Also the colors of the products may mean something good or bad to the new market. The name of the product needs to look at as well. International products names could mean something completely different overseas. The next P is place. Where will the buyers see Electronics Visions products? They need to make sure that their prospective customers will be able to see the product. Also is the product going to be in specialist stores or online or both. Another good aspect to look at is where the competitors are selling their products and learning from the competitors on what Electronic Visions could do to improve their way.
Price is the next part of the four P’s. One of the first questions to think about is what value this product gives to the customer. Are there already prices that are around for the type of products they are selling in the area? Also if Electronic Vision increased or decreased their product just a little could this make a huge difference in the market? For example if they lowered their cost by $20 from the competitor would more customers buy it because it’s cheaper or would they want to buy a more expensive product? Promotion is the last P and for me it is one of the most important. If you can’t advertise correctly than their will not be very many customers in a new market. Where and when could Electronic Visions market their message? They need to find out if there is a certain area that a lot of potential customers would visit. Which method would they want to use, will it be online, TV, billboard? I feel online and TV would be the best but I’m not sure if the Asia market would be like our market. Another thing to consider is the best time to promote the new product. I would focus a lot on how and when the competitors are doing all of these things because it will help Electronic Visions to decided what they should and shouldn’t do.
I don’t think it will matter if the products are globally coordinated. I feel Electronic visions may have change their products a little bit according to each market they are in. I feel each market would have their own things they like and dislike. Also the electricity may play a big part. I think overseas there are different outlets.
In conclusion, Electronic Visions has their work cut out for them when moving into any new market. I feel the key is to learn and understand the new culture they want to enter. If they don’t learn the culture well enough it will bring down the whole company. Also using the four P’s of marketing will enormously help with selling their products. I do feel that Electronic Visions will have to modify their product some but I don’t think it will be that big of deal.
Cite this Go East, Young People, GO east
Go East, Young People, GO east. (2016, Sep 28). Retrieved from https://graduateway.com/go-east-young-people-go-east/