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|1.||MÁDARA COSMETICS LTD. PROFILE||2|
|2.1.||External Environment Analysis (PEST Analysis of Canada)||4|
|2.2.||Internal Environment Analysis (SWOT and Competitors)||6|
|MÁDARA Cosmetics Ltd. Competitors||6|
|MÁDARA Cosmetics Ltd. SWOT Analysis||8|
|3.||MÁDARA COSMETICS LTD. STRATEGY||9|
|MÁDARA Cosmetics Ltd. Mission and Vision||9|
|MÁDARA Cosmetics Ltd. Objectives and Strategy||9|
The selection of the Canadian market as a target for the Company’s internalisation strategy was made through evaluating of MÁDARA Cosmetics Ltd. internal and external environment. Analyses of Company’s brand and products, as well as business opportunities for eco-cosmetics industry in Canada showed that locating MÁDARA Cosmetics Ltd. specialised boutique and launching its products in the elite department store Holt Renfrew can be successful and will bring benefits for both the Company and country of foundation and production – Latvia. Due to ethical and environmentally friendly eco-consumerism trends in society and especially in Canada, as well as demographic and economic situation, the demand for natural cosmetics products is high. Taking into account all the requirements for the new market entry, Company objectives were created and complete strategic plan was developed.
There is always possible risk of failure in any strategy; therefore, during its implementation phase some changes and improvements might be needed. If the selected target market is not ideal, MÁDARA Cosmetics Ltd. should look into the other target market, as for example launching new line of products, as it was suggested within this paper. However, with that in mind, MÁDARA Cosmetics Ltd. should improve its product, marketing and sales and implement the strategy provided. In case of success MÁDARA Cosmetics Ltd. will gain new market share in the new country, improve profitability and move closer towards its vision of internalisation.
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