River Island Strategic Marketing Report (Russian Federation) Research Paper

River Island Strategic Marketing Report (Russian Federation) - Research Paper Example Conclusions 14 Works cited 15 Name of the student Name of professor Course name Date River Island Strategic Marketing Report (Russian Federation) 1. Introduction & Overview River Island is one of the renowned and popular high street brands that operates internationally and has its stores in different countries. This company is headquartered in London and has its presence in many countries, including, many European countries, Russia and the countries in the Middle East. The company has a strong brand presence in Russia due to several factors; the rising interest of the Russian customers in international brands, the quality of products offered by the company and affordable range of prices (Karadakis, Kaplanidou and Karlis 175). Certain subtle changes are visible in the characteristics of the Russian market for consumer products. In recent years, Russian customers are becoming more interested in consuming products of brands have an international presence. This provides the opportunity t o the global brands to increase their operations in Russia (Bacon, â€Å"Reaching Russia’s lucrative layer†). River Island is considering certain strategic changes in order to utilize the new developments in customers’ preferences (Riverisland, 2013). ... River Island provides a good opportunity to make a marketing analysis of the company and develop a marketing plan that would help the company to make further progress in its growth path. 2. Marketing Audit Macro environment Analysis – PESTLE PESTEL analysis of Russian Federation would help in understanding the external macroeconomic environment of the country. This would facilitate understanding of the strategies and business policies of the company. Political Economic Social Technological Environmental Legal Internal conflicts Corruption Different political divisions External conflicts with several powerful economies; like the USA and the UK Rich natural reserves Export oriented economy; depends on export of oil and natural gas One of the largest GDPs in the world in terms of size of GDP Volatile exchange rate High price inflation Unequal income distribution Low foreign direct investment Higher proportion of skilled work force than unskilled work force Diversity in work force is high Presence of social unrest due to diversity in workforce as well as political diversities Existence of class divisions and social discrimination Low level of life expectancy Russia has strong industrial background Possess some of the most powerful scientific research frameworks in heavy industries and defence sectors (Carlsen and Andersson 86) However, IT communication processes are not well developed in all regions within the vast expanse of the country (Helms and Nixon 220) Displays low awareness regarding environment and ecology Industrial activities within the country creates various environmental concerns Unfavourable climatic conditions can sometimes act as barriers to trade Wide geographical territory is sometimes unmanageable New legal obligations Laws