Marketing Plan For International Furniture Industry Essay

Marketing Plan For International Furniture Industry Essay

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As indicated in the chart above, it is a huge market because of the population, more consumers as well as great opportunities for expansion; they are interested in purchasing American style furniture, middle class is growing about 3 to 4 percent of the total population with an outstanding buying power for western style furniture centered on Shanghai (NBSC, 2006).
International furniture companies have stepped up their pace of entering into China market to take advantage of the opportunities, company like Air land based in Hong Kong now manufactures foreign brands beddings and mattress for the market, Ashley furniture a major American brand has expanded into China at a major scale, a global furniture company IKEA has opened 16 stores across China, and plan to open 3 stores per year between now and 2020 (Dyer & Singh, 1998).
It is therefore important the company join these companies to compete on the great market as it is time to take advantage of the market for increase market, competitiveness as well as business growth.
Competition in the furniture industry in China has come a long way as key players in the industry no longer compete in cities but continue to expand to other cities because of large market as housing industry continue to grow in most cities. It is clear that the company will able to compete on the market with effectively designed marketing strategy, proper preparation, and well designed planning taking corrections from key players in the industry like Ashley furniture , IKEA, and Air land.
Designed market strategy using concept such as Porter’s five forces analysis, SWOT analysis concept, PEST analysis, and TOWS matrix will help equip the company to effectively analyze, evaluate the market, competitor’s business a...

... middle of paper ...

...h is the right choice as risk involve is less, and shared among partner (s) respectively (Shopify, 2015).
Someone may suggest that global expansion is not a wise and profitable decision for the furniture company since the company is making profit in the domestic market, and it may be difficult for the business to compete with key players in the industry in China. Counter argument is to first analyze the goal of the business, and future benefits with opportunities globalization will bring for the business, a business that can compete in the compete American market has the potential for global success, China has a vast opportunities for furniture business, therefore the company should step up and take advantage of huge market in China now, and with the designed strategy and entrant approach, there is an a chance for the furniture company to become successful in China.

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