Global marketing strategy and product launch B&Q in Malaysia Essay

Global marketing strategy and product launch B&Q in Malaysia - Essay Example Current study reviews the potentials of B&Q, a well-known British firm, in the Malaysian market. The firm already operates in the international market. Still, up today the firm has not attempted to enter the Malaysian market. The successful operation of the firm in Chinese market has possibly caused the delay of such project. The stability, at least up to now, of the European market in which the firm is highly expanded, could be another reason for the avoidance of the firm to expand overseas. On the other hand, the review of the Malaysian market had led to the assumption that the particular market could highly benefit the performance of B&Q. The firm’s profits could be increased while the risks involved would be limited, at least taking into consideration the market’s current characteristics. A marketing plan has been developed for the potential expansion of B&Q in the Malaysian market. The requirements and the implications of the specific plan are analytically presente d. It is proved that the entrance of firm in the Malaysian market would have many prospects for success, especially if all phases of the plan were carefully monitored. 2. Background of the organization 2.1 Products B&Q has a wide range of products in regard to home and garden improvement. Currently, the products of the firm are estimated to 40,000 (B&Q Company website, Company Information 2012). 2.2 Market position B&Q is ‘the largest home improvement and garden centre retailer in UK’ (B&Q Company website, Company Information 2012). The firm was first established in 1969. Today, the firm is owned by Kingfisher plc, a major competitor in the context of the European’s home improvement industry; Kingfisher plc has also the third position in the global home improvement industry (B&Q Company website, Company Information 2012). In UK, the firm’s stores are estimated to 350 (B&Q Company website, Company Information 2012). For 2011, the firm’s profits were estimated to ‘?3.8 billion’ (B&Q Company website, Company Information 2012), making the organization one of the most powerful competitors in the home improvement industry worldwide. The firm is already well established in the global market with about 60 stores (B&Q Company website, Company Information 2012). The firm’s financial performance is presented in Figure 1 (Appendix). The firm’s performance in UK and France seems to be much higher compared to its performance internationally (Figure 2, Appendix). The expansion of the firm in Malaysia could enhance the performance of the organization in the context of the global market. 2.3 Organizational objectives and vision The organization’s key objective is ‘to help people create a home that they are proud of’