Last Updated 22 Jun 2020

Foxy Originals

Essay type Research
Words 414 (1 page)
Views 207

Executive Summary With the growing popularity of its products, Foxy Originals was running the risk of becoming over-saturated in the Canadian market. In an effort to avoid this problem, the company decided to enter the U. S. market by January, 2005. To achieve this goal, Foxy Originals had to make a vital decision regarding its distribution strategy: Would the company attend trade shows or hire sales representatives? Foxy Originals’ strengths reside in its owners’ experience, stylish products, pricing strategy, and its current market presence.

The company’s weaknesses include local market saturation, lack of international market experience, and the high cost of securing retail accounts. Tapping into the US jewellery market creates virtually unlimited opportunities for Foxy Originals. The company will gain a larger customer base, wider brand exposure, and greater international market experience. Although entering the US market presents Foxy Originals with huge opportunities, it also presents significant threats.

Threats the company may face are the risk of being eliminated by stronger, better marketed competitors; potentially low demand for its product and expensive marketing and distribution. Foxy Originals is trying to decide on the best strategy for expanding into the US market. The company must overcome its unfamiliarity with the US jewellery market, its lack of a solid marketing and distribution strategy, and the high costs of acquiring new retail accounts.

Order custom essay Foxy Originals with free plagiarism report

GET ORIGINAL PAPER

The company currently has three options: Foxy Originals can sell its products at trade shows; or it can hire sale representatives to sell their products; or the company can benefit from using both distribution methods. The company must carefully evaluate expected profits, market-entry time, and the complexity of each alternative The costs of hiring sales representatives are much lower than any other alternative, and the expected revenues are much higher.

Sales representatives have experience and contacts to make quick sales, assuring Foxy Originals a quick introduction into the U. S. market. By the end of 2004, in major US cities, with a cost of $19,182. 50, Foxy Originals should will and train four sales representatives. Working with recruiters and following its regular employment procedures, the company should hire, train, and equip four ambitious, aggressive, enthusiastic account executives, assigning each to a major US metropolitan area.

Because the company will face fierce competition in large urban cities, Foxy Originals should focus on slightly smaller markets with less competition and higher demand. Foxy Originals also must develop a distinctly American collection—stylish and affordable. By differentiating itself, offering unique and affordable products, Foxy Originals will insure profitable expansion into the US market.

This essay was written by a fellow student. You can use it as an example when writing your own essay or use it as a source, but you need cite it.

Get professional help and free up your time for more important courses

Starting from 3 hours delivery 450+ experts on 30 subjects
get essay help 124  experts online

Did you know that we have over 70,000 essays on 3,000 topics in our database?

Cite this page

Explore how the human body functions as one unit in harmony in order to life

Foxy Originals. (2017, Mar 29). Retrieved from https://phdessay.com/foxy-originals/

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire writer