Introduction
Inevitably, globalization has now changed the entire working of the companies across the globe; however there are certain companies of the world which are continuously enhancing their productivity and level of efficacy in an effective and organized manner. The most common objective of every organization is to flourish their growth and effectiveness in different markets with different aspects. It is usually done with the method of gaining and providing certain competitive advantages to the consumers regarding the products (Du Plessis, Strydom & Jooste, 2012).
Strategies are more than essential for the sake of an organization, and it is more than essential and effective for those companies which are new in the industry, and are in the favor of enhancing their productivity accordingly. Strategies start from the ideology of the product and ends with the launching of the same product. However, launching is not the final state of a company wherein the stance of the same could be delivered their bests, but there are certain aspects that deliver effectiveness in their services.
Among numerous strategies, place and pricing strategies are more than essential for an organization that used specifically for catering their customers in a more effective manner. Every organization in the world are now emphasizing on these two strategies for their ramifications and future economic benefits. Due to the escalating behavior of these two strategies, the amounts of literature and studies have also been increased in the same manner. In this assignment, it is required to analyze the case of Icewine case study that found its effectiveness on the basis of globalization and different strategies in particular. There are two different answers that needed to be completed in this assignment.
Analysis and Findings
- Roger’s Meeting with US-based Constellation brand
Customers are very important for an organization, in fact organizations cannot do anything without their customers. According to one of the proverbs, there is nothing that could affect the financial and strategic position of a company other than the customer focus and emphasize (Ashford & Hall, 2011). Every company in the world now comprises on a single aspect which is to deliver the best available things to the individuals without any delay, and with affordable prices as well (Booth, Colomb & Williams, 2008). This particular aspect has been initiated due to the stance of globalization and international expansion. In the current economic scenario, the stance of international expansion through strategic alliance is effective and essential, and every company is trying to expand their network in international places. Likewise, the same there are certain aspects that found effective and interesting from the standpoint of Icewine Canada as well.
Roger Provost of Inniskillin had a meeting with the new owner of Vincors to revise a new strategy for the company. Roger has two different options from which they have to select a single one (Oosterveer & Sonnenfeld, 2012). The first option is to maintain the current distribution strategy like the same, while the second strategy is to maximize the premium margin of InniskillinIcewine by utilizing the global distribution network of US-Based brands to become more familiar in different markets of the world. After having a clear cut analysis and information, it is recommended Roger to initiate the second strategy on the company. InniskillinIcewine is currently operating in Canada, and the development of taste is wonderful. The company is providing the best quality products to their consumers, therefore the name of the company is effective and fine, therefore InniskillinIcewine has the chance to expand their networks in other places as well and strengthen their distribution strategy in an effective and organized manner.
The main reason behind selecting this particular distribution method is that the current economic scenario is quite influential and pressurize, wherein a single company don’t have sufficient funds and courage to enter independently in a market and gain a high market share. There is always a need of strategic alliance with an international brand to deliver the best to the consumers of the company (Oosterveer & Sonnenfeld, 2012). The market of the United States (US) is the best market for the vines and beverages, but it is already captured heavily with national and international brands. Therefore, it is very difficult for a new company to come and flourish in the market of the United States (Booth, Colomb & Williams, 2008). The products of InniskillinIcewine are perfect and there is no doubt about, but there is a need of a perfect distribution strategy for the company to make its availability in the markets of the United States. The idea of initiating a strategic alliance with the US-based constellation brands is perfect, and InniskillinIcewine should consider it accordingly for the sake of their economic as well as non economic benefits. US-based Constellation has already a perfect distribution network and strategy associated with their brands, and the brand has the propensity to flourishes its growth in the vine market of the US. With the help of this particular distribution strategy, InniskillinIcewine can enhance the focus and orientation level of the customers in the market of the United States, and the door of further expansion and internationalism will open for InniskillinIcewine. By getting a name in the market of the United States (US), the company will get a right or slogan that their products are well versed even in the largest market of the world like the United States (US), and they will not get any sort of problem while entering in the other regions of the world. Precisely, it can be said that the company should adhere with the second distribution strategy which institutionalized with the enhancement of premium margins. Apart from the place or distribution strategy, the strategy pertains to pricing is also essential for the sake of the company. According to the case study, the pricing strategy which the company is currently having is Premium, and should be changed accordingly with the passage of time (Booth, Colomb & Williams, 2008). After the expansion in the markets of the US, the company has to changed their pricing strategy from Premium to Competitive, as there are number of competitors are working in the country which are providing effective and quality products to them in best affordable price, then what will be the thing that works like wonders for InniskillinIcewine while initiating their concerned in the international markets. Having this market with competitive pricing would certain bring effectiveness in the company for their future concerned? Since InniskillinIcewine is strategizing to seek the effectiveness in the markets of the United States, therefore having a perfect pricing structure and place distribution can be essential for their future consequences. The stance of globalization would be extremely effective and powerful for the company in the near future, and they have to ascertain their growth in a positive and effective manner to become effective.
- Effort of Roger
Without any doubt, every entity strives hard for the economic consequences and economic prosperity, and the thing that really supports it is its management and employees. Roger is in the efforts to encourage VQA to preserve their existence in the market with the same designation, as it was for France Champagne and Cognac Designations. Roger is in the favor of increasing the strategic capability and power of the company to remain competitive and effective in the current line of business. This will be challenging stuff for Roger, because without providing effective and quality wise products, the stance of sticking with the industry is very difficult for an organization. From the case study, it is found that InniskillinIcewine has now stick with a single country, though the products and their quality are effective for the company, but still the company needs some strategic alliance with international counterparts from which they can extend their networks in different parts of the world in particular. Emphasizing on VQA with the current sticking strategy will work like a futile for them, and will not be effective for their future, hence, the company has to increase their efforts to expand their networks accordingly in the market, and get certain effectiveness in the market in the Canadian region, as well as in the USA region. This particular aspect would bring both economic and non economic benefits for the company in their future, and also help them to further firm their roots on the markets of the company. This strategy not only empowers the company to launch effective and powerful products in the markets of the United States (US), but it will also open the doors of prosperity and further customer orientation in the future as well.
Conclusion
There are four different strategies that worked like wonders for the companies, and among them, the name of pricing, place, products and promotion are the one. Organizations, in the searching of excellence should emphasize on these four strategies which known as 4Ps of marketing. Any organization which has a firm behavior with these four strategies would be extremely effective and essential for their future. All the big organizations of the world are now moving towards the same strategies to enhance the capability to empower the consumers in an effective and organized manner. In this particular assignment, it is requested to use some of the same strategies for the expansion of the business in an effective and organized manner. A cash study of a company InniskillinIcewine has been taken into account, which has recognition in the Canadian wine market. The company is quite effective as far as expanding their networks in an effective manner, and soon the company can achieve the same. There are two different answers which have been answered in this analysis, and all of the answers have been given in an effective manner. From the entire analysis, it is found that distribution and pricing strategy are the most important strategies for InniskillinIcewine to accomplish growth in the market, and can enhance their function and operations in the market of United States as well. InniskillinIcewine will get effective advantage with this expansion in the market, as mentioned in the case study of the company.
References
Ashford, N., & Hall, R. (2011). Technology, globalization, and sustainable development. New Haven, Conn.: Yale University Press.
Booth, W., Colomb, G., & Williams, J. (2008). The Craft of Research 3e. The Craft of Research 3e: University of Chicago Press.
Du Plessis, P., Strydom, J., & Jooste, C. (2012). Marketing management. Cape Town: Juta.
Oosterveer, P., & Sonnenfeld, D. (2012). Food, globalization and sustainability. London: Earthscan.
