Mrkt20057-Marketing Of The Yellow Tail Assessment Answer
The report throws a light on the marketing of the Yellow Tail Company in the United Kingdom Country. With the help of conducting strategic analysis of the economic and financial, political, legal, environmental and social factors along with social and cultural environment and the technological impacts have to be ascertained in the effective manner as this will help in understanding the situation of the country in which the company will be expanded along with understanding the different issues which can be faced by the company as well during the international campaign in United Kingdom.
Background of Yellow Tail™
Yellow Tail™ is one of the new brands of wine which was being produced by Casella Family Brands ("A wine for any occasion | [yellow tail] wines - Great Australian wine", 2018). Furthermore, the respective company named Yellow Tail™ is based in Yenda, Australia wherein the population is more than 1400 individuals. Yellow Tail company is new and the company can enter into the bottled wine industry by introducing various other kinds of wine in order to become more successful in nature. The company was founded in the year 2000 and it was seen that Yellow Tail™ enjoyed similar kind of success in different countries such as United Kingdom as well.
Background of United Kingdom
United Kingdom is sovereign country which is being situated in Western Europe and the United Kingdom includes the island of the Great Britain along with many smaller islands as well. Yellow Tail™ will be marketing the different kinds of wines in the United Kingdom market which is one of the developed countries, however there can be different challenges which can be faced by the company while conducting the international marketing campaign effectively and the main countries which are focused in the report is England.
Discussion of Variables
There are different factors which are required to be taken into consideration as this will affect the international marketing campaign of the Yellow Tail™ wine products in United Kingdom (Scarborough, 2016). Furthermore, the different kinds of factors which are required to be considered includes political, social, economic, technological, legal and environmental factors which has to be identified appropriately as to be aware of their position (Anton, 2015). This will help the company in analysing different other strategies as to become more efficient and this will help in becoming positive in their approach of expansion.
Moreover, this can be identified that there are various environmental factors which are necessary and plays a vital role in the marketing of wine related products. In the case of expansion of the products in the UK market, proper identification of the politically stable country, free economic market and legally stable country is essential along with high standard of living is necessary in managing the market efficiently and appropriately (Haldorai, Ramu & Murugan, 2018)
It is the first variable which is required to be analysed and identified successfully in order to understand the position of the international marketing campaign of Yellow Tail Wine in United Kingdom. Additionally, this has been seen that the UK is politically stable and the government is proactive in nature to handle the different market conditions effectually (Matsuno & Kohlbacher, 2015).
In the United Kingdom, this has been analysed that there are different opportunities in the wine market of UK as the government has proper linkage with winemakers which develops strategy for the continued growth of the entire wine industry based in UK. Moreover, the politically stable United Kingdom has been able to foster and boosted their business performance which led to considerable foreign investment as well (Luthans & Doh, 2018).
For the wine makers, there are less regulations in the entire market and this is the other success factor for the Yellow Tail Wine Company to expand their business and the international marketing campaign will be successful in nature as well (Belton, 2017).
It is the other factor which is required to be considered wherein this has been noticed that in the UK market, the cost of labour is lower than Australia and United States of America. Furthermore, the cost of the land is low as well and this can be one of the opportunities for Yellow Tail Wine Company which for the international marketing campaign (Schilke, 2014).
While the entire UK economy has continually benefitted from robust economic growth, however, there are few threats which can be a huge problem for Yellow Tail Wine company as the unemployment level was huge in the years 2010-2011 and this adversely affected the entire growth of the wine industry (Robson, 2015).
As per the United Kingdom Commission estimation, this has been identified that UK is treated as the 5th highest GDP in the entire world and the country will provide free market for wine companies to expand their business in these countries (Hubbard, Rice & Galvin, 2014).
Moreover, this has been seen that there was slow recovery in the United Kingdom market in the 2008-2009 due to economic recession which was a huge challenge for the Yellow Tail Wine Company to increase their market in UK (Wood et al., 2015).
It is the other aspect which is required to be analysed successfully wherein the high social standards helps in leading to better conditions all round. For Yellow Tail Wine company, the standard of living of the people is high and this will assist the company in expanding their market effectively (Peng, 2016).
This has been seen and identified that in the entire world, the consumption of the wine has been increased to 6.8% and in United Kingdom the percentage has been increased from 5.33% to 7.25% which will be an advantageous position for the company to become more successful in the operations in the market of UK (Ethiraj, Gambardella & Helfat, 2017).
On the other hand, there are various kinds of negative impacts of social factors on the United Kingdom market in which this was seen that there is social unrest in regards to migration of the different individuals from UK to other countries as there are different avenues provided to the customers in an efficient manner. However, the consumption of wine in different countries in UK such as England and Scotland.
It is the other factor which is required to be analysed and identified for Yellow Tail while the international marketing campaign which will be conducted in United Kingdom. The innovation skills are of superior quality and there are different individuals in the UK market who are skilled and are expert in IT and science which will play a major role in stimulating the overall growth of the company (Hitt & Duane Ireland, 2017).
On the other hand, there are different kinds of negative consequences of the technological factors in the Yellow Tail Wine company in the United Kingdom market (Kasemsap, 2018). The technological advancements and development are slow in comparison to USA and this will be a big disadvantage for the wine company named Yellow Tail as the innovation is the main criteria which is required to be adopted to provide and produce the best quality products and wine at cheap prices and provide the same to the population of UK.
These are the other aspect in which the legal regulations play a vital role in judging economic status of the country. The legislations of United Kingdom are flexible and they are being more focused on providing safety to the stakeholders of the company.
For Yellow Tail Wine Company, while expanding their business in United Kingdom, this is essential in nature for them to follow the different legal rules and regulations as the country follows strict rules and regulations in the market which will be a challenge for the company. There are no such threats which can be faced by the company in UK as the federal legislations are not tough in nature in comparison to the other countries such as USA.
It is the last aspect which is required to be considered and analysed excellently by Yellow Tail Wine company while expanding their business in UK. The climate is ideal for growing and producing grapes in the UK market and this is of moderate importance for the company (Anton, 2015).
Lastly, the environment of UK is stable and this is operative for capital investment and this is suitable for the company to be more competitive in nature and this helps in gaining huge profits in the entire market.
Therefore, this can be concluded from the above environmental analysis, that these are the major factors related to the United Kingdom Environment which are required to be taken into consideration by Yellow Tail Wine Company while conducting the international marketing campaign in the United Kingdom market.
Furthermore, this has been analysed that the main issues which can be a problem for Yellow Tail Wine company while marketing in UK are political, technological, social factors and legal factors as there are different issues related to the same which needs to be considered effectively as this can help in expansion of the business fluently without much difficulties.
A wine for any occasion | [yellow tail] wines - Great Australian wine. (2018). Retrieved from https://www.yellowtailwine.com/wines/
Anton, R. (2015). An Integrated Strategy Framework (ISF) for Combining Porter's 5-Forces, Diamond, PESTEL, and SWOT Analysis.
Belton, P. (2017). Competitive Strategy: Creating and Sustaining Superior Performance. Macat Library.
Ethiraj, S. K., Gambardella, A., & Helfat, C. E. (2017). Reviews of strategic management research. Strategic Management Journal, 38(1), 3-3.
Haldorai, A., Ramu, A., & Murugan, S. (2018). Social Aware Cognitive Radio Networks: Effectiveness of Social Networks as a Strategic Tool for Organizational Business Management. In Social Network Analytics for Contemporary Business Organizations (pp. 188-202). IGI Global.
Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning.
Hitt, M., & Duane Ireland, R. (2017). The intersection of entrepreneurship and strategic management research. The Blackwell handbook of entrepreneurship, 45-63.
Hubbard, G., Rice, J., & Galvin, P. (2014). Strategic managment: Thinking, analysis, action. Pearson.
Kasemsap, K. (2018). The role of information system within enterprise architecture and their impact on business performance. In Global Business Expansion: Concepts, Methodologies, Tools, and Applications (pp. 1078-1102). IGI Global.
Luthans, F., & Doh, J. P. (2018). International management: Culture, strategy, and behavior. McGraw-Hill.
Matsuno, K., & Kohlbacher, F. (2015). Caught in Inaction: Firms’(Non) responses to Important but Uncontrollable Environmental Forces. In Academy of Management Proceedings (Vol. 2015, No. 1, p. 15908). Briarcliff Manor, NY 10510: Academy of Management.
Peng, M. W. (2016). Global business. Cengage Learning.
Robson, W. (2015). Strategic management and information systems. Pearson Higher Ed.
Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.
Schilke, O. (2014). On the contingent value of dynamic capabilities for competitive advantage: The nonlinear moderating effect of environmental dynamism. Strategic management journal, 35(2), 179-203.
Wood, D. J., Logsdon, J. M., Lewellyn, P. G., & Davenport, K. S. (2015). Global Business Citizenship: A Transformative Framework for Ethics and Sustainable Capitalism: A Transformative Framework for Ethics and Sustainable Capitalism. Routledge.
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