The Analysis Study of Marketing Fevicol from India to Japanese Market Based on Marketing Mix Strategies
MBA 523: International MarketingThe Analysis Study of Marketing Fevicol from India to JapaneseMarket Based on Marketing Mix Strategies Section: S16N70 Written by: Pratik R BhatiaYuan MiThis report is submitted in partial fulfillment of the requirements of the course International Marketing MBA 523, Spring 2016 Faculty of ManagementVancouver Island UniversityNanaimo, BC, Canada(April 04, 2016)SummaryThe report provides an analysis study of introducing Fevicol, the top selling adhesive brand from India to Japanese Market. From the analysis, the study found that Japanese Adhesive market is in its maturity industry-life cycle and has been sluggish. Due to economic crises there is a wide gap between production and sales which is widening. The Japanese Adhesive market can be divided into two basic segments i.e. Industrial segment (B2B) and Consumer segment (B2C) and further into various segments based on demographic and psychographic characteristics. It’s a highly competitive market with 3 main competitors namely; 3M, H.B. Fuller and Henkel. There are many uncontrollable factors which will make it difficult for Fevicol to enter the Japanese Adhesive market. These factors are in the form of Government regulations, Cultural factors and Industrial Economic factors.
To cope up with the current market scenario and to overcome the present uncontrollable factors, Fevicol uses various marketing mix strategies wherein it concentrates on product standardization and provide reliable and high quality products in localized small size packing. It is using penetration price strategy to penetrate the market by providing high quality product at affordable price as a result of deflationary economic situation of Japan. Advertising being the strong point of brand, catchy advertisements to be used along with organizing events and sponsoring teams for sales promotion and emphasis on personal selling. Distribution being the most efficient non trade barrier, the company could open its own exclusive retail stores. Product and promotion being the key factors of success for the brand.From the study, it is recommended that Fevicol should take the above mentioned parameters into consideration, there is still loads of potential for unique and innovative products and Fevicol needs to provide a highly reliable and good quality products at affordable prices and carry out aggressive promotion and advertising strategies in order to create a strong bond with the customers. It might have to enter into a Joint Venture with a local Japanese company to enter the market and contract a trading company to take care of its distribution.