INDIVIDUAL PROJECT: REDBUS

Table of Contents
Part 1: Brand Analysis...............................................................................................................3

1.1 Brand Introduction..............................................................................................................3

1.2 Brand Portfolio/Availability..................................................................................................4
1.3 Brand Elements.................................................................................................................. 4
1.4 Brand Equity (Keller’s CBBE Model)..................................................................................5
1.5 Brand Mantra..................................................................................................................... 7
Part 2: International Market Analysis...........................................................................................9

2.1 SLEPT Analysis of 3 Culturally Distinct Market Which the Brand Could Enter Potentially 9
2.2 Competitor Analysis for Each Market.............................................................................11
Part 3: Strategy for Market Entry...............................................................................................13

3.1 Selection and Justification of New International Market to Enter....................................13

3.2 Recommended Market Entry Strategy..............................................................................14
3.3 Recommendations for Standardization or Adaptation....................................................16
3.4 Intended Points of Parity (POP) and Points of Differentiation (POD)..............................18
Reference list............................................................................................................................. 20

Appendices................................................................................................................................ 27

2
Part 1: Brand Analysis

1.1 Brand Introduction

REDBUS is considered to be India's largest online bus ticketing platform with promising future
growth. The company has introduced a transformation in the domain of bus transportation,
therefore offers an easy and convenient way to millions of Indian travellers who prefer traveling
by bus (Deogadkar 2021). Before the introduction of Redbus, traveling by bus associates various
problems like detecting bus timing, selecting suitable buses, or booking tickets online. Redbus
has made the procedure easy as it launches the facilities of selecting a bus, detecting timing, and
booking tickets online.

Figure 1: SWOT Analysis

(Source: sandytech.co.in, 2021

Redbus belongs to one of India’s leading travel companies MakeMyTrip Limited and Ibibo. The
company has emerged into prominence in 2006 and performing convincingly since then with a
promising future prospect. RedBus used to have a yearly growth of 25 percent ( Norhisham et al.

3
2021). Today, the annual growth rate of the company is 40 percent with a compound annual
growth rate of 50 percent for the last two financial years. However, Redbus has served almost
over 18 million customers by offering the widest choice, well and good customer service, lowest
prices, surprising offers, and unmatched benefits ( Anand 2020). Along with time, the company
has expanded its business globally and has operated across Indonesia, Singapore, Malaysia,
Colombia, and Peru along with India.

1.2 Brand Portfolio/Availability

Brand portfolio indicates a particular domain within which all the brands or brand lines of a firm
perform to meet the demands of different market segments. Brand portfolio paves the way to
encompass all the brands launched by a particular firm for sale to meet the demands of different
groups of people (Nguyen et al. 2018). Like other promising brands, Redbus too has a brand
portfolio of and the company focuses mainly on two aspects while maintaining its respective
brand portfolio: Breadth of product mix and Depth of branding.
Brand Portfolio integrates various brand-related aspects within it, therefore various particular
specifications of the Redbus can be determined from its brand portfolio. Under the segment
Brand Scope, services of various categories and subcategories, as well as convincing future
scopes, have been discussed (SHaH et al. 2017). On the other hand, the brand portfolio also plays
the defining role for Redbus as it defines the brand in detail, endorses the brand as well as can be
considered as a major driving force of the brand. The brand portfolio of Redbus further offers a
detailed brand hierarchy and brand network along with provides a clear segmentation of branded
house, sub-brands, endorsed brand, and the house of brands.

1.3 Brand Elements

Brand elements are particular features that help a particular brand to be identified by people.
There are multiple specifications associated with brand elements that help a brand to be spread.
Brand Name is the most particular brand element that indicates the word or a group of words
used to identify a company, product, service, or concept. However, while taking the initiative,
MakeMyTrip has considered the brand name REDBUS as it seems catchy and iconic. Today, the

4
word 'Redbus' is a known word of everyday language and as the customers are willing to rely on
and opt for services marked with this particular brand name, this simple word is actually worth
millions. Along with the brand name, Logo carries the identification of an entire brand (Cardinali
et al. 2019). A logo is a brand element that lives everywhere, so a major tool for brand
recognition. Redbus has selected a bright red logo along with an image of a bus which has
created a steady impression on its customers.

Figure 2: Brand Elements

(Source: alterego360.in, 2021)

Graphics and Colours are another two brand elements that have been taken seriously by the
company while designing its logo. Graphics are an important visual element that has been
associated with Redbus and helps to recognize a brand quickly without the requirement for
words. On the other hand, a customer can instantly identify Redbus at a glance by its bright red
colour.

1.4 Brand Equity (Keller’s CBBE Model)

Techniques of marketing have changed over the years and have a tremendous impact on a brand
for better or for worse. The success of a brand particularly depends on customers who have
experienced, who are experiencing, or who will experience the brand ( Kladou et al. 2017). Kevin
Lane Keller has developed a Brand Equity model and named it Keller's Brand Equity Model.
This model is basically customer-oriented, therefore known as the Customer-Based Brand Equity

5
(CBBE) Model. The model is based on a very simple concept and works for building a strong
brand as well as shaping the thoughts and feelings of a customer about a service or a product.
Brand Equity is necessary as it encourages customers to have specific positive thoughts, feelings,
beliefs, opinions, and perceptions about a brand and its products or services ( Brzaković et al.
2019). A strong and developed Brand Equity generates further recommendations of a brand,
offers customer loyalty, and helps to overcome market competition positively.

Figure 3: Keller’s Pyramid

(Source: medium.com, 2021)

Keller's CBBE Model contains four determined steps and six building blocks that have been used
by Redbus to build their Brand Equity. The four steps of the pyramid initiate to answer four
fundamental questions that a consumer will often ask to know about a particular brand (Luffarelli
et al. 2019). In the first step, Redbus has created brand salience and brand or brand awareness. As
the first step is related to Brand Identity and asks the question ‘who are you?’Redbus tries to
make sure that the brand stands out prominently and its customers can recognize it and be aware
of it. The second step of the pyramid tries to shed light on ‘What are you?’ and is related to
Brand Meaning. Redbus uses it to describe the company performance as well as how the
company services meet particular customer demands (Grigoras 2018). The model suggests that the
performance of a company integrates five distinctive features: primary characteristics and
features; product reliability, durability, and serviceability; service effectiveness, efficiency, and

6
empathy; style and design; and price. The third step is related to Brand Response, therefore
focuses on answering what does a customer thinks or feels about a brand.
Customers tend to make a continual judgment on a brand and those criticisms can be categorized
into four distinctive categories: Quality, credibility, Consideration, and Superiority ( Tasci 2018).
Reviews of the customers help a brand to rectify its drawbacks and encourage the brand to
proceed further. The last step is associated with Brand Resonance, so tries to justify how much of
a connection a customer would like to have with a brand. Brand Resonance sits on the top of the
pyramid and is considered to be the most difficult and most desirable point to reach. A brand can
achieve brand resonance when its customer feels a deep and psychological connection with a
brand (Datta et al. 2017). However, according to Keller, resonance can be segmented into four
categories that are: Behavioural Loyalty, Attitudinal Attachment, Sense of Community, and
Active Engagement. However, Redbus seems to work harder strategically and in a scientific way
to attain the four dimensions of the pyramid as well as to develop a strong Brand Equity.

1.5 Brand Mantra

Brand Mantra is also named as brand essence and actually is a short statement to indicate the
core that is represented by a brand or the image it tries to project. A Brand Mantra usually
consists of two or three words, uses more than one adjectives to prominent a brand while may or
may not contain the particular brand name ( Chekalina et al. 2018). However, though the format
can be varied, the statement of the tone is the most important tool to develop a Brand Mantra.
Redbus also determines a single-focused message as its brand essence while differentiating the
brand from its competitors. An evocation of customer justification, a consistent delivery, as well
as a representation of the reality of what a customer might feel is other aspects related closely to
a brand mantra (WU et al. 2020). A marketing team considers sufficient time and dedication in
selecting and designing the terms used in a brand essence, therefore, tries to reach the brand to a
larger population.

7
 Figure 4: Brand Mantra
(Source: slidegeeks.com, 2021)

8
Part 2: International Market Analysis

International market analysis is a key way to evaluate the existing market strategies and the
future process that should be adopted to expand the future market possibilities. This analysis can
help the business to become aware of the product demand in the market with the factors related
to different export destinations (Adamczyk, 2017). The information collected from the
international market analysis can be used to develop export planning and cost-effective
approaches for the global marketplace.

2.1 SLEPT Analysis of 3 Culturally Distinct Market Which the Brand Could Enter
Potentially

SLEPT analysis in a business can be used to determine the external environmental effects in the
business and its influence on business processes. SLEPT analysis evaluates the five factors
which create an impact on an organization's business performance and these are social, legal,
economic, political, and technological factors. Redbus with its headquarter in Bangalore, India
has expanded its business of online bus ticket booking in several other countries like Malaysia,
Indonesia, Singapore, and many (Ajay Kaushik and Potti Srinivasa, 2017). In the following part
SLEPT analysis is done depending on these three countrywide distinct markets of Redbus.
Social impact
The population growth of these three countries creates a positive social impact on the Redbus
business. As opined by Çera et al. (2019), the increase in the population means more access to
transportation services for the purpose of traveling. As per record from 2019, the working
population in Singapore is 3.74 million and in Malaysia is 15.1 million and these huge working
populations have adopted bus service to travel to different places for work. Several people are
there in these three markets that are travel friendly and opt for the Redbus service to move to
different tourist destinations.
Legal impact
The Redbus market in Singapore, Malaysia, and Indonesia has observed no strict legal rules and
barriers that can affect its global business strategy. The rate of transport tax and toll taxes are
affordable and that does not hamper the business of Redbus in its business growth (Chornous and

9
Iarmolenko, 2018). These countries follow well-developed consumer protection laws that ensure
Redbus provide a good transport service to the customers.
Economical impact
Economical strategy in these three markets is well developed that can ensure a positive impact
on Redbus's business and growth. The gross domestic product of Malaysia is more than USD 36
crore and for Singapore; it is more than USD 37 crore as per the 2019 record. As opined by
Deligonul (2020), these data show the positive growth and productivity in the country that is
required to develop the Redbus business. The inflation rate of Malaysia is 0.66% in 2019 and in
the case of Indonesia; it is 2.82% in the same year. These inflation rates show positivity in the
business development of Redbus in these three distinct markets of the international marketplace.

Figure 1: SLEPT Analysis

(Source: Wordpress.com, 2020)
Political impact
Political impact on a business depends on the government stability, corruption level, employment
generation in that particular marketplace. All three distinct markets of Malaysia, Singapore, and
Indonesia are maintained by strict government rules and try to maintain corruption-free
procedures to enhance business development in individual countries (La Torre et al. 2019). The
work age population in these three markets is enormous in number so Redbus can create a good
workforce in its business in these three markets.
Technological impact

10
It has been observed that these three distinct markets are well developed in terms of technology
and internet connectivity. Customers can purchase online tickets of Redbus from anywhere with
technological advancement. As stated by Nowiński and Kozma (2017), the road transport
systems of these three countries have been developed with modern machines and technologies
that will generate flawless bus movement within the country.

2.2 Competitor Analysis for Each Market

Competitor analysis depends on the strength, weakness, potentiality of competitors that have an
impact on the ongoing business process. Different products of competitors, their selling process,
and marketing strategies are analyzed to evaluate the competitor analysis process (Rawhouser et
al. 2019). Redbus follows the customer management process of other online bus ticket booking
companies to enhance its business productivity. Competition in the international market can
generate employees' productivity and on other hand, it can also create market risk for the Redbus
business. Redbus has already acquired a huge range of customers in these three distinct markets
and all over the world so the risk from a new competitor in the business is not a severe threat for
the business. Continuous focus on the competitors' business strategy is required to develop the
business better than the competitors.

Figure 2: Competitor Analysis

(Source: Infographicworld.com, 2020)

11
BusOnlineTicket is one of the important competitors of Redbus in both Singapore and Malaysian
markets. It has partnered with many top operators like Sani Express, LA Holidays to provide
various services to the customers (Yang and Gabrielsson, 2017). BusOnlineTicket has also
offered affordable ticket prices for the customers and different attractive offers. This competitor
also ensures the customers to refund the money in some specific situation if they did not travel as
per schedule. Redbus on the other hand offers different attractive seasonal offers for tourists who
avail of its services. Redbus has increased its bus routes in Singapore and Malaysia with a record
of 5700 distinct bus roots. The company has also offered more than one lac seat on a daily basis
to compete in the market with its competitors (Khalid and Ali, 2017). Redbus also offers
different currency exchange facilities, language converter facilities to support customers in their
travel.
The above strategies are taken by Redbus to attract widespread customers with attractive
facilities than its competitors. Travelers can avail the Redbus facility of inter-city bus
connectivity between Indonesia, Malaysia, and Singapore. Travelers can access online ticket
booking and book their tickets for different destinations whenever they require. Redbus business
has witnessed positive growth and developed its productivity to compete with different
competitors in the market. Redbus maintains a well-developed business model to compete with
its rivals in the international marketplace.

12
Part 3: Strategy for Market Entry

3.1 Selection and Justification of New International Market to Enter

In this era of technology, the world has become the Global Village to us as the advancement of
technology makes it easier to be connected with any part of the world anytime. The particular
scenario has offered the business owners to expand their business globally after carrying out
primary analysis of a company (Acharyulu 2019). Internationalization can be taken as a necessary
step that a company requires while expanding its territory, therefore demands a market
evaluation and market selection before entering the international market. Before considering a
market, a company must highlight suitable markets which can provide business to the company
and adds benefits to the company profile ( Azevedo and Gottlieb 2017). Market Concentration and
Market Diversification are two important factors needed to be interrogated and evaluated before
entering an international market.

Figure 5: Foreign Market Entry Strategy

(Source: assignmentpoint.com, 2021)

Market Concentration: Market Concentration tends to focus on a few select markets and
analyses it closely from a company's perspective. The particular strategy helps a company to be
presented in a market as well as secures constant sales growth. Market Concentration strategy
focuses to gain a deep knowledge of each market and designs or adapts products to match the
market demand (Magnani et al. 2018). The strategy helps to minimize the cost, therefore broadens

13
the scope to dedicate more resources to market promotion. Moreover, it helps to handle the
internal risks of a company more efficiently. However, multiple factors seem to add favour to the
strategy including several potential customers, the long life cycle of products, strong
competition, and others (Ahi et al. 2017). Moreover, in this strategy international demands seem to
be concentrated on a small number of markets with a stable performance which counts benefits
for a developing company.
Market Diversification:
Market Diversification helps to introduce particular products or services to as many marketplaces
as possible. The strategy offers a rapid yet possible sales growth as well as offers advantages of
market fluctuation in exchange rates (Watson et al. 2018). The strategy diversifies risk, creates a
global demand, and gives stability to an expanding and promising business. Along with these
two strategies, environment and market analysis, analysis and evaluation of the competition,
distribution channels, and demand analysis are also necessary aspects to be interrogated before
entering a global market.

3.2 Recommended Market Entry Strategy

A variety of strategies are there through which a company can enter into a foreign market
prominently and promisingly. There are a number of factors influencing strategies like direct
exploiting that have been selected by a company including tariff rates, the degree of adaptation
of a particular product, marketing and transportation costs, and others.

14
 Figure 6: Global Business Strategies
(Source: courses.lumenlearning.com)

Direct Exploiting
Direct exporting indicates the process of direct selling into a market that has been chosen by
considering the first instance of company resources. A company tends to focus on agents or
distributors to introduce them or represent them further in a market once they have established a
sales program (Schellenberg et al. 2018). In Particular, agents and distributors work together in
order to serve the company interests closely. They can be determined as the face of a particular
company, therefore it is important to choose the agents and distributors with prior
concentrations.
Licensing
Licensing can be taken as a considerably sophisticated strategy that initiates a firm to transfer the
rights associated with a product or service to another firm. The strategy is; particularly useful as

15
it offers a purchaser a relatively larger market shares in which it wants to enter ( Schu and
Morschett 2017). the purchaser of the license has a relatively large market share in the market
you want to enter.
Franchising
A typical North American process that helps a business entering the international market as well
as offers a rapid market expansion. Franchising usually functions better for firms that follow a
repeatable business model and can be transferred into other markets if required ( Verbeke et al.
2019). The franchise model demands two caveats: The first one business model to be either very
unique or have the strong brand recognition that can be used internationally. On the other hand,
creating future competition in a franchisee is further required (Jasrotia et al. 2019).

3.3 Recommendations for Standardization or Adaptation

(Marketing Mix Framework)

On a very first note, standardization supports the belief that there exists a union of cultures with
similar environmental and customer demand globally. It can be argued that along with times
trade barriers have been getting lower with the support of technological advances ( Bates and
Buckles 2017). Moreover, various firms are focused on displaying a strategic global orientation in
their strategy. They tend to believe that creating one strategy for the global market and
standardizing the marketing mix elements helps to attain consistency with consumers at a lower
cost. According to the trend, a well-managed company moves away from customizing particular
customer demands to offering globally standardized products that are advanced, functional,
reliable as well as low priced (Markman et al. 2019). On the other hand, focusing on the mass
demand instead of worrying about particulars, can encourage a company to achieve long-term
success.

16
 Figure 7: Need for Adaptation
(Source: slideshare.net, 2021)

However, supporters of the international adaptation approach seem to have an intention to

emphasize the concept of customization. The basics of adaptation assert that when entering a
foreign market one must consider all environmental factors along with all constraints. Along
with this, there are multiple important sources of constraints that are difficult to measure ( Guo et
al. 2017). The particular genre includes the cultural differences rooted in history, education,
religion, values and attitudes, manners and customs, aesthetics as well as differences in taste,
needs and wants, economics, and legal systems. However, to continue growth alternative mixed
marketing strategy is required to match with local taste, meet special market demand, and other
non-identical demands (Dinu 2018).

17
 Figure 8: Product Standardization and Adaptation in International Market
(Source: semanticscholar.org, 2021)

3.4 Intended Points of Parity (POP) and Points of Differentiation (POD)

Points of Parity indicates the must-have criteria of any brand that advertises a brand as a
legitimate competitor in its respective category. POP motivates consumers to consider a brand
and adds that particular brand to the list of their alternatives (Anand 2020). These particular
specifications do not consider brand differentiators, therefore must not be portrayed as the key
message in a brand promotion or brand advertising. However, a company must make sure that it
has covered POP before counting on its competitive advantage.
Point of Differentiation, on the other hand, denotes further attributes that help to make a brand
unique. It can be considered as a brand's value proposition and its competitive advantages. The
points of differentiation denote the reasons on basis of which customers usually choose a brand
over its competition (Tasar et al. 2020). These particular specifications require to be reflected
continuously through a brand slogan, promotion, and advertising in order to make a conscious
presence among potential consumers.

18
 In the case of professional services like Redbus, an informative website that provides a
description and overview of their expertise and capability can be considered as a major POP.
Moreover, a responsible attitude towards requests, offering a comprehensive proposal according
to customer budget, offering references of their previous works and experiences are also
potential POP necessary for growth (Klochkov et al. 2017). Furthermore, having an expert market
segment in a company, providing flexible payment terms, providing information that helps to
make decisions, offering flexible collaborating options can be taken as potential points of
differentiation related to a professional company like Redbus.

19
Reference list

Adamczyk, M., 2017. The importance of cultural differences in international business. Central
European Review of Economics and Management, 1(2), pp.151-170.
Ajay Kaushik, N. and Potti Srinivasa, R., 2017. Effect of website quality on customer
satisfaction and purchase intention in online travel ticket booking websites. Management, 7(5),
pp.168-173.
Çera, G., Breckova, P., Çera, E. and Rozsa, Z., 2019. The effect of business enabling policies,
tax treatment, corruption and political connections on business climate. Acta Polytechnica
Hungarica, 16(4), pp.113-132.
Chornous, G. and Iarmolenko, I., 2018, May. Recognition of Price Discrimination in the Online
Sale of Airline Tickets. In ICTERI (pp. 46-60).
Deligonul, S.Z., 2020. Multinational country risk: Exposure to asset holding risk and operating
risk in international business. Journal of World Business, 55(2), p.101041.
Infographicworld.com, 2020. How to Do a Competitor Marketing Analysis, Available at:
https://infographicworld.com/do-competitor-marketing-analysis/ [Accessed on: 04/05/2021]
Khalid, S. and Ali, T., 2017. An integrated perspective of social exchange theory and transaction
cost approach on the antecedents of trust in international joint ventures. International Business
Review, 26(3), pp.491-501.
La Torre, M., Trotta, A., Chiappini, H. and Rizzello, A., 2019. Business models for sustainable
finance: The case study of social impact bonds. Sustainability, 11(7), p.1887.
Nowiński, W. and Kozma, M., 2017. How can blockchain technology disrupt the existing
business models?. Entrepreneurial Business and Economics Review, 5(3), pp.173-188.
Rawhouser, H., Cummings, M. and Newbert, S.L., 2019. Social impact measurement: Current
approaches and future directions for social entrepreneurship research. Entrepreneurship Theory
and Practice, 43(1), pp.82-115.
Wordpress.com, 2020. relivingmbadays Available at:
https://relivingmbadays.wordpress.com/2013/05/18/slept-analysis/ [Accessed on :04/05/2021]
Yang, M. and Gabrielsson, P., 2017. Entrepreneurial marketing of international high-tech
business-to-business new ventures: A decision-making process perspective. Industrial Marketing
Management, 64, pp.147-160.

20
Acharyulu, A.R., 2019. The Imperative of Resilient Strategy for Businesses in 21st Century. IBA
JOURNAL OF MANAGEMENT & LEADERSHIP, 10(2), p.29.
Ahi, A., Baronchelli, G., Kuivalainen, O. and Piantoni, M., 2017. International market entry:
how do small and medium-sized enterprises make decisions?. Journal of International
Marketing, 25(1), pp.1-21.
alterego360.in (2021), Brand Elements, available at: https://www.alterego360.in/blog/brand-
elements/ [accessed on: 03.05.2021]
Anand, H.K., 2020. CONSUMER PERCEPTION TOWARD DIGITAL TRANSACTION
MOBILE APPLICATION (APP). Academy of Social Science Journal, 5(9), pp.1737-1746.
Anand, H.K., 2020. CONSUMER PERCEPTION TOWARD DIGITAL TRANSACTION
MOBILE APPLICATION (APP). Academy of Social Science Journal, 5(9), pp.1737-1746.
assignmentpoint.com (2021), Foreign Market Entry Strategy, available at:
https://www.assignmentpoint.com/business/international-business/foreign-market-entry-strategy-
rules.html [accessed on: 03.05.2021]
Azevedo, E.M. and Gottlieb, D., 2017. Perfect competition in markets with adverse
selection. Econometrica, 85(1), pp.67-105.
Bates, M.O. and Buckles, T.A., 2017. An examination of market entry perspectives in emerging
markets. International Journal of Business and Economic Development, 5(3), pp.19-29.
Brzaković, A., Brzaković, T. and Brzaković, P., 2019. Creating brand market value. Anali
Ekonomskog fakulteta u Subotici, 55(42), pp.17-32.
Cardinali, S., Travaglini, M. and Giovannetti, M., 2019. Increasing Brand Orientation and Brand
Capabilities Using Licensing: an Opportunity for SMEs in International Markets. Journal of the
Knowledge Economy, 10(4), pp.1808-1830.
Chekalina, T., Fuchs, M. and Lexhagen, M., 2018. Customer-based destination brand equity
modeling: The role of destination resources, value for money, and value in use. Journal of travel
research, 57(1), pp.31-51.
courses.lumenlearning.com (2021), Global Business Strategies, available at:
https://courses.lumenlearning.com/wm-principlesofmanagement/chapter/responding-to-cultural-
differences/ [accessed on: 03.05.2021]

21
Datta, H., Ailawadi, K.L. and Van Heerde, H.J., 2017. How well does consumer-based brand
equity align with sales-based brand equity and marketing-mix response? Journal of
Marketing, 81(3), pp.1-20.
Deogadkar, A., 2021. A Study on Determinants of Customer Satisfaction in E-enabled bus
booking platforms. Turkish Journal of Computer and Mathematics Education
(TURCOMAT), 12(2), pp.1895-1905.
Dinu, A.M., 2018. International market entry strategies. Academic Journal of Economic
Studies, 4(2), pp.20-25.
Grigoras, A., 2018. The strategic impact of sensory elements on building and developing brand
equity. Management Dynamics in the Knowledge Economy, 6(4), pp.579-592.
Guo, W., Yu, T. and Gimeno, J., 2017. Language and competition: Communication vagueness,
interpretation difficulties, and market entry. Academy of Management Journal, 60(6), pp.2073-
2098.
Jasrotia, S.S., Mishra, H.G. and Koul, S., 2019. Brick or click? Channel choice disruptions in
travel industry. Asia-Pacific Journal of Management Research and Innovation, 15(1-2), pp.16-
26.
Kladou, S., Kavaratzis, M., Rigopoulou, I. and Salonika, E., 2017. The role of brand elements in
destination branding. Journal of Destination Marketing & Management, 6(4), pp.426-435.
Klochkov, Y., Papic, L. and Butkevich, R., 2017. Development of the Standardization System in
an Organization. International Journal of Reliability, Quality and Safety Engineering, 24(06),
p.1740004.
Luffarelli, J., Stamatogiannakis, A. and Yang, H., 2019. The visual asymmetry effect: An
interplay of logo design and brand personality on brand equity. Journal of marketing
research, 56(1), pp.89-103.
Magnani, G., Zucchella, A. and Floriani, D.E., 2018. The logic behind foreign market selection:
Objective distance dimensions vs. strategic objectives and psychic distance. International
Business Review, 27(1), pp.1-20.
Markman, G.D., Gianiodis, P., Tyge Payne, G., Tucci, C., Filatotchev, I., Kotha, R. and
Gedajlovic, E., 2019. The who, where, what, how and when of market entry. Journal of
Management Studies, 56(7), pp.1241-1259.

22
medium.com (2021), kellers-brand-equity-model, available at:
https://medium.com/@keatonhawker/kellers-brand-equity-model-what-it-is-how-to-use-it-
84e42d562299 [accessed on: 03.05.2021]
Nguyen, H.T., Zhang, Y. and Calantone, R.J., 2018. Brand portfolio coherence: Scale
development and empirical demonstration. International Journal of Research in
Marketing, 35(1), pp.60-80.
Norhisham, S., Bakar, M.F.A., Syamsir, A., Zaini, N., Baharin, N.L., Shkuri, N.S.M. and Saad,
N.M., 2021, April. Evaluating the quality of services for bus performance in Alor Setars. In IOP
Conference Series: Earth and Environmental Science (Vol. 708, No. 1, p. 012038). IOP
Publishing.
sandytech.co.in (2021), SWOT Analysis, available at: https://www.sandytech.co.in/tag/redbus/
[accessed on: 03.05.2021]
Schellenberg, M., Harker, M.J. and Jafari, A., 2018. International market entry mode–a
systematic literature review. Journal of Strategic Marketing, 26(7), pp.601-627.
Schu, M. and Morschett, D., 2017. Foreign market selection of online retailers—A path-
dependent perspective on influence factors. International Business Review, 26(4), pp.710-723.
semanticscholar.org (2021), Product Standardization and Adaptation in International Market,
available at: https://www.semanticscholar.org/paper/Product-standardization-and-adaptation-in-
Marketing-Membe-Loukakou/8b9916af0164521f8e4563fb15e50e3c7ba05faa [accessed on:
03.05.2021]
SHaH, P., Laverie, D.A. and Davis, D.F., 2017. Research paper Brand deletion. Journal of Brand
Strategy, 5(4), pp.434-452.
slidegeeks.com (2021 Brand Mantra, available at:
https://www.slidegeeks.com/marketing/product/brand-mantra-dynamic-market-research-ppt-
powerpoint-presentation-pictures-show [accessed on: 03.05.2021]
slideshare.net (2021), Need for Adaptation, available at:
https://www.slideshare.net/charurastogi/6-international-marketing-market-selection-modes-of-
entry-in-international-markets [accessed on: 03.05.2021]
Tasar, O., Tarabalka, Y., Giros, A., Alliez, P. and Clerc, S., 2020. StandardGAN: Multi-source
domain adaptation for semantic segmentation of very high resolution satellite images by data

23
standardization. In Proceedings of the IEEE/CVF Conference on Computer Vision and Pattern
Recognition Workshops (pp. 192-193).
Tasci, A.D., 2018. Testing the cross-brand and cross-market validity of a consumer-based brand
equity (CBBE) model for destination brands. Tourism management, 65, pp.143-159.
Verbeke, A., Ciravegna, L., Lopez, L.E. and Kundu, S.K., 2019. Five configurations of
opportunism in international market entry. Journal of Management Studies, 56(7), pp.1287-1313.
Watson IV, G.F., Weaven, S., Perkins, H., Sardana, D. and Palmatier, R.W., 2018. International
market entry strategies: Relational, digital, and hybrid approaches. Journal of International
Marketing, 26(1), pp.30-60.
WU, W.Y., DO, T.Y., NGUYEN, P.T., ANRIDHO, N. and VU, M.Q., 2020. An integrated
framework of customer-based brand equity and theory of planned behavior: A meta-analysis
approach. The Journal of Asian Finance, Economics, and Business, 7(8), pp.371-381.

24
Bibliography
Andwari, A.M., Pesiridis, A., Rajoo, S., Martinez-Botas, R. and Esfahanian, V., 2017. A review
of Battery Electric Vehicle technology and readiness levels. Renewable and Sustainable Energy
Reviews, 78, pp.414-430.
Budzinski, O. and Kuchinke, B.A., 2018. The modern industrial organization theory of media
markets and competition policy implications. Ilmenau Economics Discussion Papers, (115).
Clements, L.M. and Kockelman, K.M., 2017. Economic effects of automated vehicles.
Transportation Research Record, 2606(1), pp.106-114.
Flyverbom, M., Deibert, R. and Matten, D., 2019. The governance of digital technology, big
data, and the internet: New roles and responsibilities for business. Business & Society, 58(1),
pp.3-19.
Jermsittiparsert, K., Siam, M., Issa, M., Ahmed, U. and Pahi, M., 2019. Do consumers expect
companies to be socially responsible? The impact of corporate social responsibility on buying
behavior. Uncertain Supply Chain Management, 7(4), pp.741-752.
Kahiya, E.T., 2020. Context in international business: Entrepreneurial internationalization from a
distant small open economy. International Business Review, 29(1), p.101621.
STANEVA, K., DIGITAIZATION IMPACT ON QUALITY OF TOURISM DESTINATIONS.
CUSTOMER RELATIONSHIP MANAGEMENT The impact of digital technology, p.73.

Kurt, Y. and Kurt, M., 2020. Social network analysis in international business research: An
assessment of the current state of play and future research directions. International Business
Review, 29(2), p.101633.
Matveevskaya, A.S., Pogodina, V.L., Tarakanova, T.S., Evseev, V.V. and Nesterova, I.E., 2018.
Technologies of tourism in the modern urban environment. International Journal of Civil
Engineering and Technology (IJCIET), 9(10), pp.1566-1574.
Srivastava, S., Singh, S. and Dhir, S., 2020. Culture and International business research: A
review and research agenda. International Business Review, p.101709.

25
Neves, P.C., Schmerl, B.R., Cámara, J. and Bernardino, J., 2016, January. Big Data in Cloud
Computing: Features and Issues. In IoTBD (pp. 307-314).
Chauhan, A., Joshi, M.A.N.O.J. and Abidi, S.U.H.A.Y.L., 2017. Riding the VUCA wave. Indian
Management, pp.72-77.
DANG, R., 2017. DETERMINANTS OF SUCCESS OF E-RETAILING. The Corporate
International [ISSN: 2581-6438 (online)], 1(1).
Singh, D.K., Dash, M.K. and Kumar, A., 2016. Using TOPSIS and modified TOPSIS methods
for evaluating the competitive advantages of internet shopping malls. International Journal of
Business Information Systems, 22(4), pp.476-494.
Chauhan, S. and Goyal, S., 2018. Platform ecosystems: the expert opinion. Journal of
Information Technology Case and Application Research, 20(2), pp.86-89.
Reddy, Yenumula. "Big Data Security in Cloud Environment." In 2018 IEEE 4th International
Conference on Big Data Security on Cloud (BigDataSecurity), IEEE International Conference
on High Performance and Smart Computing,(HPSC) and IEEE International Conference on
Intelligent Data and Security (IDS), pp. 100-106. IEEE, 2018.
Muniswamaiah, M., Agerwala, T. and Tappert, C., 2019. Big data in cloud computing review
and opportunities. arXiv preprint arXiv:1912.10821.
Bhagavatula, S., Mudambi, R. and Murmann, J.P., 2019. Innovation and entrepreneurship in
India: An overview. Management and Organization Review, 15(3), pp.467-493.
Singhal, R. and Srivastava, S.R., 2016, December. Enhancing the page ranking for search engine
optimization based on weightage of in-linked web pages. In 2016 International Conference on
Recent Advances and Innovations in Engineering (ICRAIE) (pp. 1-5). IEEE.
Muniswamaiah, M., Agerwala, T. and Tappert, C., 2019, July. Challenges of Big Data
Applications in Cloud Computing. In CS & IT Conference Proceedings (Vol. 9, No. 9). CS & IT
Conference Proceedings.
Mane, D. and Srivastava, P., 2019, December. Text Mining to Understand Major Keywords
Explaining Sentiments of Travelers Using Travel Related Online Services in India.
In International Conference On Computational And Bio Engineering (pp. 287-295). Springer,
Cham.

26
Appendices

Appendix 1: About REDBUS

(Source: https://www.slideshare.net/sachinzdom/redbusin)

27
Appendix 2: Brand Elements

(Source: https://www.slideteam.net/brand-elements-powerpoint-slide-presentation-
examples.html)

28
Appendix 3: Keller’s Brand Equity Model

(Source: http://www.free-management-ebooks.com/news/kellers-brand-equity-model/)

29
Appendix 4: Brand Mantra

(Source: https://digitalschoolofmarketing.co.za/blog/what-is-brand-mantra/)

30
Appendix 5: Strategy for Market Entry

(Source: https://www.indiamart.com/proddetail/market-entry-19180965062.html)

31
Appendix 6: Market Selection Process

(Source: https://www.slideshare.net/charurastogi/6-international-marketing-market-selection-
modes-of-entry-in-international-markets)

32
Appendix 7: Standardization vs. Adaptation

(Source: http://study-aids.co.uk/dissertation-blog/standardization-versus-adaptation/)

33
Appendix 8: Entering a New Market

(Source: https://site.mughu.me/)

34
Appendix 9: Competitive analysis

(Source: Slideteam.net, 2020)

35
Appendix 10: SLEPT Analysis

(Source: Mbaskool.com, 2020)

36