What Is A Resume And Its Functions Essay Example

biscuit company was established in 1848 by William, a Scottish native who migrated to Australia and started working as a baker. Over time, the company grew and opened its first successful bakery shop and factory in Newcastle.

As time passed, a new company was established in Sydney, an Australian city. Though Arnott was still a small company, it couldn't form a company on its own. In 1956, Arnott merged with Morrow, Matteramend Menz, Mill and Ware, and Brock Hoff to form an Australian biscuit company. Following the merger, Arnott biscuit company became well-established and easily dominated most of the Australian market. At this level, the management introduced Tim tam biscuits, which have since become a market leader in Australia and beyond. The company's size has grown since 1970 when it went public on the Australian stock exchange.

In 1985, the Campbell Soup Company transformed the operations of Arnott's by shifting towards a more commercial approach through global outsourcing. This has predominantly been achieved through exporting and contract manufacturing of Arnott's Biscuits in various regions worldwide. As a company, exporting goods produced locally to new markets outside the country is a significant objective. Exportation opens up opportunities for increased market presence and subsequent profits. However, if not executed properly, it can become a liability for the company, particularly if the political, legal, cultural, and economic environment does not support its activities. Currently, Arnotts Company needs to assess the potential marginal revenue and marginal cost associated with entering the new market in Dubai.

The company has significantly expanded its level of internationalization through outsourcing in various areas in Asia and exporting its products to Dubai. Arnotts biscuits, an Australian manufacturer

of biscuits and cookies, offers a wide range of products including plain biscuits, chocolate creams, and fruity varieties. In addition, they also produce sealed snack foods like chips, crispbread, and crackers. To effectively penetrate the Dubai market, the company must thoroughly analyze cultural factors and understand the preferences and tastes of the target market. This entails examining potential competitors and ensuring that their products outperform those of their rivals. The company needs to carefully consider consumer opinions and feedback in order to make necessary modifications to successfully establish a strong presence in the market.The management can enhance the product and determine the appropriate products for the market in Dubai by carefully analyzing the following factors: a) Answers to the questions posed, b) Infrastructures, and c) Culture.

Regarding infrastructures, the Arnotts Company must consider how easy it is to export their products to Dubai. This involves assessing the transportation modes that allow for efficient and effective access to the market.

Moreover, cultural differences should be taken into account, as each country has its own folkways, norms, and taboos. By understanding the cultural aspects of Dubai, Arnotts can tailor their products accordingly.

The Arnotts in Dubai need to conduct market research on their products before implementing marketing programs. This is necessary in order to avoid any surprises for Arnotts upon establishing themselves in Dubai. The market research process involves obtaining the necessary information, creating an efficient plan for gathering it, and presenting the plan to marketing management. The plan includes identifying sources of existing data, specifying research approaches, contact methods, sampling plans, and data collection instruments. To meet the manager's information needs, the researcher must gather both secondary

and primary data. Secondary data refers to information that already exists and has been collected for another purpose, while primary data consists of information collected specifically for the current purpose. Effective primary and secondary research will help define the problem and create hypotheses for strategy development.

Research plays a crucial role in determining market potential and understanding consumer demographics and attitudes towards a product. Casual research methods are used to test hypotheses about cause-effect relationships. By employing effective research methods, Arnotts can identify the opportunities available in the Dubai market. Market segmentation involves dividing the market into groups with similar characteristics. This can be based on geographic factors such as location.

a) Nationsb) Psychographic segmentation is based on social class, lifestyle, and personality characteristics. c) Demographic segmentation is based on variables such as age, sex, family size, income, race, and occupation among many other variables. d) Behavioral segmentation is based on consumer knowledge, attitudes, use, or response to the product. Other types of marketing segmentation that may be advantageous to the Arnotts Company include: 1) Benefit segmentation, which groups markets based on the benefits of the product discussed. 2) Volume segmentation involves segmenting the market based on usage, specifically the volume of use. 3) Niche marketing involves finding small yet profitable market segments and creating custom-made products for them. This segmentation strategy ensures the company's survival worldwide. 4) One-to-one market segmentation involves developing a unique mix of goods and services for each individual customer, fostering a strong trust in the company. Marketing segmentation is a future tool that will enable companies to reach individual customers effectively. Market potential refers to the process of assessing the attractiveness of

each market segment and selecting one or more segments to enter.When evaluating different segments, a firm must consider three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.

For segment size and growth, the company needs to gather and analyze data on current segment sales, growth rates, and expected profitability for each segment (Cardell Chris, 2006).

Regarding segment structural attractiveness, the company must assess various factors that impact the long-term appeal of a segment. This includes evaluating the number of aggressive competitors in the segment, the relative power of buyers, and the influence of suppliers.

Additionally, the company needs to take into account its own objectives and resources in relation to the segment to make informed decisions.

If the company determines that a segment aligns with its objectives, it must assess whether it possesses the necessary skills and resources to succeed in that segment (Cardell Chris, 2006). Evaluating the market environment involves effectively utilizing the promotion mix, which encompasses advertising, personal selling, sales promotion, and public relations tools used by the company to achieve its advertising and marketing goals. The cultural market environment varies from country to country, with each having its own folkways, norms, and taboos. The company must consider how consumers in the target country perceive the use of the product in order to develop effective marketing strategies. Surprises can arise, such as the fact that the average French man uses nearly twice as many cosmetic and beauty products as his wife. The Germans and French consume more packaged foods, therefore creating a demand for spaghetti. Italian children enjoy eating chocolate bars between slices of bread. To successfully export or dominate a specific

market, the cultural environment must be closely considered and appropriate decisions made. The political and legal environment involves analyzing attitudes towards international business; some countries are welcoming to foreign firms while others are hostile.

The government bureaucracy, responsible for running an efficient system to assist foreign companies and provide effective customer handling, marketing information, and other business aids, should be considered (Miller & Farese, 1992). Political and legal stability are also important factors in the overall political and legal environment. Monetary regulation is a crucial aspect of this environment as well. Sellers aim to profit in their desired currency, so its regulation is important to consider. The economic environment involves the government's support for business through measures like low taxes, a free market, and favorable currency value. To successfully market products, understanding the cultural, political, legal, and economic environments is necessary as they determine the target market. The promotion mix method is an integral part of the company's communication program and includes advertising, personal selling, sales promotion, and public relations tools to achieve marketing objectives.Advertisement, personal selling, and sales promotion are all ways that a firm can promote their ideas, goods, or services. Advertisement includes print, broadcast, outdoor, and other forms of non personal presentation by an identified sponsor. Personal selling involves the firm's sales force making personal presentations to potential customers in order to make sales and build relationships. This can include sales presentations, trade shows, and incentive programs. Sales promotion offers short-term incentives to encourage the purchase or sale of a product and includes displays, premiums, discounts, coupons, specialty advertisements, and demonstrations. Lastly, by utilizing public relation tools, the firm can facilitate market penetration.

Public

relations aims to improve the relationship between a company and the public by enhancing its image and addressing unfavorable rumors, stories, and events. If exporting the product is not successful, the company can consider alternatives such as joint ventures, contract manufacturing, licensing, joint ownership, and direct ownership (Roger Leroy Miller, Loise Schnieder Farese, 1992).

Marketing mix deals with the management of the 4 Ps: price, product, promotion, and place. These are the ingredients of a marketing program (McHugh, Nickels, Understanding Business, 2002). 1. Product: a crucial part of the marketing mix that satisfies consumer needs and is generally accepted by buyers. 2. Price: a component of marketing that involves setting commodity prices.

Prices should be equitable for customers while ensuring the business maintains profitability. Typically, prices are determined considering factors such as production costs, distribution, branding, and packaging. An important aspect for goods to be valuable is having place utility, meaning they are available at convenient locations.

Ensuring goods are delivered to the right place and time is referred to as timely availability. Promotion, on the other hand, is the process of informing potential customers about products. This involves selecting an advertising channel that is convenient and affordable for the business. Promotion also includes determining the advertising budget, which determines the extent of promotion and advertisement by a firm. There are various advertisement budget methods, such as the affordable method, percentage to sales method, competitive-party method, and objective and task method. The affordable method allows the company's management to set the advertisement budget based on what they believe the company can afford.

The method of budget preparation in this company is based on the premise that it cannot spend

more on advertising than it has. However, this method disregards the impact of promotion on sales and places advertising as the lowest priority for spending. As a result, it leads to uncertainty in the annual promotion budget, making long-range market planning challenging (McHugh, Nickels, Understanding Business, 2002). Another method is the percentage sales method, which involves setting the promotion budget as a certain percentage of current or projected sales or as a percentage of the sales price.

The allocation of advertising promotional spending is expected to differ based on the financial resources of the company. This approach considers the relationship between promotional spending, selling price, and profit per unit, and aids in management's decision-making process. Furthermore, it promotes stability in competition as competing firms allocate a similar percentage of sales towards promotion. However, this method has drawbacks: it incorrectly identifies sales as the catalyst for promotion rather than recognizing promotion as a driver of sales. Additionally, it prioritizes funding availability over potential opportunities. Planning for the long term becomes challenging when relying solely on yearly sales figures for budgeting purposes.

Finally, the method discussed does not offer any basis for selecting a specific percentage, except for what has been done previously or what other companies in the market are doing (McHugh, Nickels, Understanding Business, 2002). The competitive party method involves setting a budget that matches what competitors are spending. To implement this method successfully, it requires closely monitoring competitors' advertising efforts or obtaining industry spending estimates from publications or trade associations, and then setting the budget based on industry averages. The argument behind this method is that competitors' budgets represent the collective wisdom of the industry, and

spending similar amounts can help prevent promotional wars. However, these arguments lack validity and concrete evidence (McHugh, Nickels, Understanding Business, 2002).

The objective and task method is the last method used in preparing an advertising budget. It involves:

• Defining specific objectives
• Determining the task required to achieve these objectives
• Estimating the cost of these tasks

The total of these costs is the proposed promotion cost. This method involves economical reasoning, where the real cost is the foregone cost, referred to as the promotion cost.
(McHugh, Nickels, Understanding Business, 2002).

International competitive marketing strategy refers to the concept of competitive advantage in strategic management. It defines the uniqueness of an organization compared to its competitors. Competitive marketing strategy serves as a roadmap for gaining competitive advantage (McHugh, Nickels, Understanding Business, 2002). It also acts as a measure of competence and performance in relation to external factors impacting the firm.

Arnotts achieved its success through effective leadership and the ability to benefit from economies of scale. The company has experienced significant growth thanks to its network and strong relationships, despite its humble beginnings. When Arnott's first opened a successful bakery shop, it established its initial network and eventually built its first factory in Newcastle. As the company continued to expand, a new facility was constructed in Sydney. However, Arnott was still relatively small and unable to form a company on its own. In 1956, Arnott merged with Morrow, Matteramend Menz, Mill and Ware, and Brock Hoff to create an Australian biscuit company.

After the merger, the Arnott biscuit

company became well established and was able to easily dominate most of the Australian market. At this level, the management introduced Tim tam biscuits, which have since become a market leader in Australia and beyond. Currently, the decision-making of the firm is under the control of the Campbell soup company and the top management of the firm. With the recent growth of the company, it is important for them to adopt a decentralized level of management to reduce reporting requirements for each leader. As the company continues to grow, the organizational leadership should consider implementing a network structure, which offers flexibility through alliances with other organizations that serve various functions.

The structure of networks can be independent, driven by the market or can work effectively outside the organization. Currently, the viability of firms in Dubai is being assessed. According to current market research results, Dubai has emerged as the most promising market for biscuits. The research clearly indicates a high demand for chocolates and biscuits among the young population, who make up approximately 85% of the market for these products. In the past, Dubai's low purchasing power and hot climates have been defining characteristics. Global trends suggest that the demand for biscuits and salted snacks will surpass that of chocolate due to the difficulty in preserving chocolate in hot climates. Research also shows that biscuit consumption in Dubai is growing at a double-digit rate, estimated to be around 2.4kg per capita per year. Additionally, market trends indicate that the supply of chocolates and biscuits in Dubai is inadequate in terms of quantity and quality.

Based on the viability assessment for the firms, it is evident that the

Dubai market shows potential for biscuits, snacks, and chocolate both currently and in the future. In order to expand further, it is crucial for the company to implement an effective marketing strategy that targets the market trends of these products. Since the market is mainly dominated by children and youth, focusing on these groups will help to establish trust among consumers. Additionally, introducing new products to replace chocolate, which faces preservation issues, will contribute to tapping into the chocolate market in Dubai. In conclusion, considering the higher population of youth and children, Anotts' products have a positive outlook in the present and future of the Dubai market.

Also, due to the limited supply of biscuits, chocolates, and snacks in the Dubai market, it is beneficial for the company to seize the market opportunity by exporting its goods to Dubai. In the future, it should also consider establishing a company in Dubai to further strengthen its relationship with the local community and increase their trust in Arnotts' products. Being a popular tourist destination, Dubai presents a great potential for Arnotts to expand its product market. However, considering the challenges in preserving chocolates, the company should devise a preservation strategy to fully capitalize on the chocolate market.

Bibliography: a) Arnott’s Biscuits Company. Retrieved, July 13th, 2007.

From http://www.foodsfortrade.com/manufacturer/profil.php

Chris, C. (2006) special report on why most advertisement does not work. '10 Essential Strategy to ensure that your advertisement is a success'. Retrieved, July 13th, 2007.

From http://www.merketingweek.co.uk/index.html.

c) McHugh, Nickels. Understanding Business, 6th edition, (2002). McGraw Hill Irwin. New York.

d) Roger Leroy Miller, Loise Schnieder Farese Understanding Business: A word of opportunities.

3rd edition, 1992 west publishing Company. New York.