This assignment will meet the following learning outcomes:
1. Identify and critically evaluate the major environmental influences affecting global and international markets to justify recommended strategies;
2. Apply appropriate analytical models and frameworks to analyse, assess and critically appraise global and international marketing situation.
Assignment Task
International marketing strategy involves developing and maintaining a strategic fit between the international company's objectives, competencies and resources and the challenges presented by its international market or markets.
As a marketing manager, you are tasked to assess/evaluate the international market to look for the opportunity of marketing your product or service and at the same time expand your marketing horizon. Select a country of your choice and prepare an evaluation covering the following:
1. Environmental factors that direct the firm toward international markets.
Consider both local producers and producers in other countries in your discussion. Describe the types of middlemen involved and how the product will get from producer to end user. Describe the prospective/target consumers of the product. Determine and examine the level of competition to be encountered for your selected product in the country you have chosen. Analyse the current political, legal,economic, and cultural factors relevant to marketing your product. Consider any barriers to trade and discuss how they are addressed.
2. Selection and assessment of the modes of entry which are to better considered necessary in your evaluation of the environmental factors in the international marketing environment (L02)
3. Marketing strategies to achieve competitive advantage to be used to position your product in the minds of target consumers after the thorough evaluation of the modes of entry selected and the marketing environment. (L01 and L02)
Describe what marketing strategy, adjustments and product standardisation/ adaptations should be made. Evaluate the degree of risk that a company would be exposed to when it will export the selected product. Describe the specific sources of risk involved and suggest possible ways to minimise these risks if not eliminate them.
Provide a summary and disclosure of the presented significant dicussion. This part should state what the researcher found after the analysis was completed and the possible recommendations/suggestions if there is any. You are required to write a 2500 word report that covers the preceeding requirements.