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International Banking - Essay Example

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This work called "International Banking" describes the process of creating an effective marketing plan for Benson and Hedges, which is a cigarette company operating in the United Kingdom and some other European countries. From this work, it is clear about the current changes in the tobacco industry and devises marketing…
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International Banking
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Download file to see previous pages It is important to note that marketing strategies change from one business to another depending on the dynamics in the particular industry. This underpins the fact that a proper study and analysis of the industry is necessary for the process of devising a company’s marketing strategy (Nig & Hn 2005, 32; Collins 2001, 18). 
Benson and Hedges, a company that produces and sells cigarettes and other tobacco products are headquartered in the United Kingdom. Benson and Hedges share the tobacco industry alongside Japan Tobacco depending on the marketing environments in which they are located (Cox 2000, 27). In the United Kingdom, Benson and Hedges command a large market share in the industry, with its production centers being located in Northern Ireland in the town of Lisnafillan, Ballymena.
This company has been in operations for many decades, commanding a significant market share, until the entry of different companies that have emerged to exploit many of the opportunities that still exist in this industry. However, it is important to note that this industry has been associated with various health implications for people that consume tobacco products (Sessa 2000, 24). This has seen many public health campaigns about the dangers of smoking, something that has highly affected the success and performance of most of the companies in the tobacco industry.
It is therefore important o note that most of these companies have been undergoing a change process in order to devise strategies that can make them successful and effective in the industry. In as much as some people have changed their preference for cigarettes and other tobacco products, there is still a good number of people that still use them, which makes these companies devise effective marketing plans to tap into these existing opportunities.
Most companies have responded to public health campaigns and other systems by creating tobacco products that have few or no effects on people’s health in the process of attracting back the market that gave them success before the wake of these health concerns. It is important to note that the success of these companies can only be achieved through effective marketing skills. ...Download file to see next pagesRead More
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