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.
The Task
A company is in the stage of marketing the product to a developing country. A leading product of the company has been selected. A marketing consultant is considered by the company to help them select a developing country that may have a need for the product chosen.
As the marketing consultant, enlighten the company to prepare an analysis of the product's potential in the selected market. Use the following outline as a guide in their analysis.
1. Introduction
Describe the general nature, description, uses, benefits, cost and other characteristics of the product selected. Include current stage in product life cycle, and technological considerations. Describe the prospective consumers of the product. Discuss whether the selected market will apply standardisation or adaptation.
2. Market analysis
Research the internal and external environments of the country that you have selected. Identify and critically evaluate the major environmental influences to your product as regards to the country's political, legal, technological, economics and cultural scenario.
Determine the level of competition to be encountered for your selected product in the chosen country. You have to assess who you are competing against with and describe their positional strengths and weaknesses; domestically and internationally. Analyse your competitors? angle to the market in order to find a weakness that your company will be able to use in its own market positioning.
Identify at least three (3) modes of entry possible to be used in entering the particular country selected and their impact to the marketing success of the company. Describe how the product will get from producer to end user.
Consider any barriers to trade/market your product and discuss how they are to be addressed. Describe what marketing strategy adjustments should be made. Identify and evaluate the degree of possible specific sources of risk the company would be exposed to in the exportation of the selected product and suggest possible ways to minimise these risks if not totally eliminating them.
3. Conclusion. It must be in a paragraph form. This part should state what the researcher found after the analysis was completed and the possible recommendations/suggestions if there is any. This is the end point of the discussion. This will disclose the "sorted-revealed fact".
4. References must be according to Harvard Referencing Style.