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Authors
Chundru, V. V. S. Krishna Kireeti
Lu, Jien
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Abstract
With the increasing demand for flavour and fragrance products worldwide, Spanish flavour production companies represented by Lluch Essence have begun to compete in the international market. The purpose of this paper is to help Lluch Essence SL to formulate an international marketing plan that meets its requirements, and to increase Lluch Essence's product sales in the Indonesian market.
Based on the theory of corporate internationalization and international marketing, this article uses Lluch Essence's marketing strategy in the Indonesian fragrance and flavor market as an example for internal and external analysis. Through comparative analysis, we determine the company's competitive advantages and disadvantages in emerging markets, as well as the opportunities and threats it faces. Through the SWOT analysis of Lluch Essence in the target market, we have drawn important directions for product differentiation, service differentiation and brand image differentiation strategies. Based on the 4Ps marketing mix, the marketing strategy is established for Lluch Essence, and proposed specific strategies such as product differentiation, price customization differentiation, channel breadth and stability improvement, and targeted promotions. Specifically, we follow the Gantt chart to execute the marketing campaign plan. Finally, we obtain a financial feasibility plan, which provides economic theory and mathematical model support for our research.
The research has guiding significance for Lluch Essence to develop the Indonesian market, and also has certain reference significance for the market development plan of other related industries.
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