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IMA7001 International Marketing Strategy Report for Gousto Expansion into Australia and Canada, Level HE7 Assessment 1
| University | Regent College London (RCL) |
| Subject | IMA7001 International Marketing Management |
Learning Outcomes Assessed:
- LO1: Critically evaluate the challenges faced by managers in the development and deployment of global marketing strategy
- LO2: Understand and apply a range of alternative models and concepts in dealing with complex global marketing planning issues to achieve competitive advantage
- LO3: Critically evaluate the processes and outcomes in the implementation of the global marketing planning process
- LO4: Successfully deploy relevant critical, analytical, and academic skills in an extended piece of writing related to global marketing
Background and Scenario for the Assignment
Gousto, a UK-based company, was established in 2012 by Timo Boldt and James Carter. After realising how challenging it was for them to prepare healthy meals without wasting food in their hectic lifestyles, they came up with the idea for a recipe kit service. They were motivated to discover a solution to the 2 billion tonnes of food that are wasted globally each year. By providing portion-sized ingredients and a practical substitute for pre-made items from the supermarket, Gousto aims to reduce the amount of food waste. Each week, Gousto offers delivery recipe kits from a menu of roughly 40 dishes, including dairy-free, gluten-free, and vegetarian options. Each kit comes with a recipe card and quality fresh ingredients that have been measured out beforehand (Forbes, 2023). Every element of the meal kits reflects sustainability, one of the core company values. Wherever feasible, British farms’ seasonal, local produce is used in the recipes, and care is made to ensure that the fish and meat are properly sourced. ‘Good Egg Award’ recognition for Gousto’s free-range eggs was given by Compassion in World Farming. The company uses innovative, eco-friendly shipping strategies, including award-winning compostable wool insulation liners to help keep food chilled, and most of the packaging is recyclable or biodegradable (Leighton, 2023).
Here is a summary of the Gousto Marketing Strategy:
- Customer Segments: Gousto targets young professionals and families with working parents who are looking for a convenient and healthy way to meal prep.
- Value Proposition: Gousto provides a meal kit subscription service that delivers pre-measured ingredients and recipes to customers’ homes. This saves customers time and effort and ensures that they have all the ingredients they need to cook healthy meals at home.
- Channels: Gousto sells its meal kits through its website and mobile app. Customers can choose from a variety of plans, including Classic Meal Plan, Veggie Meal Plan, and Family Meal Plan.
- Customer Relationships: Gousto provides a self-service customer experience. Customers can manage their subscriptions, track their deliveries, and contact customer support online or through the app.
- Key Activities: Gousto sources ingredients from local suppliers, packages them into meal kits, and delivers them to customers’ homes. The company also develops recipes and provides customer support.
- Key Partners: Gousto partners with suppliers, delivery companies, and marketing partners to deliver its meal kits to customers.
- Key Resources: Gousto’s key resources are its recipes, suppliers, delivery network, and technology platform.
- Cost Structure: Gousto’s costs include the cost of ingredients, packaging, delivery, marketing, and customer support.
- Revenue Streams: Gousto generates revenue from its meal kit subscription service.
Do You Need Assignment of This Question
Gousto is a growing company that has achieved significant success in a short period of time. The company’s business model is well-suited to the needs of its target market, and it has a strong value proposition. Gousto is likely to continue to grow in the coming years (Panchal, 2023).
Assignment tasks:
Gousto has formulated plans to expand its market presence by entering the markets of Australia and Canada.
The organisation has requested your assistance in doing an analysis of environmental risks, assessing the degree of strategic uncertainty in the external market that may impact the company’s future, and aiding the organisation in comprehending its strategic opportunities for growth and profitability. It is advisable to consider the challenges and prospects presented by evolving market trends, advancements in technology, and shifts in consumer preferences. You must develop effective International Marketing Mix strategies for both countries before advising which one the company should select and supporting the best market entry approach.
Hence, as a marketing manager having an MSc International Management qualification, the organisation requires you to:
Task 1:
Diagnose and analyse the challenges Gousto might face in developing and deploying its global marketing strategies/approaches and its implications on both countries. (Weightage: 25%)
Task 2:
Develop and critically implement a global marketing planning process that Gousto can use in each country. (Weightage: 25%)
Task 3:
When analysing and developing Task1 and Task 2 – apply a range of alternative models and concepts in dealing with complex global marketing planning issues to achieve competitive advantage.
You must employ any at least FOUR marketing models from RACE, SOSTAC, AIDA, Blue Ocean Strategy, Hook model, GOST mode, AARRR Pirate Metrics or Drip model, Marketing Funnel model and Sinek’s Golden Circle model or any other model taught in class. Assess and critically appraise the advantages and disadvantages of the models and concepts you have chosen and elucidate these models and concepts to achieve competitive advantage in the global marketplace. (Weightage: 25%)
Task 4:
Reflect on your task 1 and task 2 analysis and justify your selection of ONE country (Australia and Canada) Gusto should enter. Also recommend and critically evaluate an effective market entry strategy.
- Total words for reflection 750 words – Weightage: 20%
- Total words for recommendation & conclusion: 250 words, Weightage: 5%
Your report should contain the following sections:
- Cover page
- Executive summary
- Table of contents
- Brief introduction about the report and background to the organisation (250 words)
- Critical analysis and justification of approaches (task 1, task 2, task 3)
- Reflection and justification for choice of one country and recommended market entry strategy proposed (task 4)
- Conclusion
- References list
- Appendices
Important and helpful information
Please refer to the Module Guide for information regarding indicative reading, guidelines for the preparation and submission of assignments, and the assessment criteria.
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Submission guidelines:
Electronic copies of assignments should be submitted via “Turn-it-in” NO LATER THAN – 22nd December 2024 – Via Turnitin 23:59
Please ensure you follow the instructions provided by your module tutor and on the assessment brief.
Submission of assessments may be done on or before the published submission date. Assignments not available at this time will be considered late unless an extension has been previously agreed.
Students who fail to submit assessments by the specified date (without an extension being granted or without accepted Mitigating Circumstances) will be subject to the following penalties:
- Up to 7 calendar days late = 10 marks subtracted but if the assignment would normally gain a pass mark, then the final mark to be no lower than the pass mark for the assignment.
- More than 7 calendar days late = This will be counted as non-submission and no marks will be recorded.
Please note that it is your responsibility to ensure that the assignment is submitted in the format/s specified in the Module Guide or on the Assessment Brief.
YOU SHOULD ALWAYS ENSURE YOU KEEP A COPY OF ANY ASSIGNMENT SUBMITTED.
In the case of exceptional and unforeseen circumstances, an extension of up to 14 days after the assessment deadline may be granted. This must be agreed by your Programme Leader, following a discussion the Module Tutor. You should complete an Extension Request Form available from Student Services and attach documentary evidence of your circumstances, prior to the published submission deadline.
Extensions over 14 calendar days should be requested using the Mitigating Circumstances procedure.
Some students with registered disabilities will be eligible for revised submission deadlines. Revised submission deadlines do not require the completion extension request paperwork.
Please see the Programme Handbook for further details.
References
Level HE7 – It is expected that the Reference List will contain between fifteen to twenty sources. As a MINIMUM the Reference List should include four refereed academic journals and five academic books.
General Assessment Guidelines for Written Assessments Level HE7
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