‘You are working for a India chian hotel, and you are the director and founder for this company, who have gone through a period of sustained growth in the india market over the last 10 years. The india market is now reaching maturity and opportunities for further significant growth are limited. The Board of Directors have decided that future growth will be overseas. You have been instructed to produce a report evaluating a potential new market (this could be a particular country or a region of the world, to be agreed with your seminar tutor). You have been instructed to undertake a PEST analysis of the new market and make recommendations about the market potential over the next five years.’
Advice :you are expected to use high quality sources such as marketing database e.g. GMID, Keynote, Mintel etc. and produce a professional report with a substantial reference list.
Suggested report pro-forma:
1. Introduction to your company clearly identify the product and the market you may also find it useful to describe the company’s USP.
2. Context: set the scene why you are looking to expand overseas i.e. if possible back up with data
3. Introduction & overview of the new market the CIA World Fact book might be a good source.
4. Identify and discuss the main issues identified from PEST or PESTLE of this new market. Main issues being defined as those with a high probability of happening and will have a high impact on the market for our product. The discussion must be based on quality data and evidenced by numeric data in the form of tables or charts etc. (Note make sure you support your arguments by reference to the databases i.e. citations.)
5. Conclusions and recommendations. Recommendations may be yes let’s go for this new market and the following strategies say on mobile technology need to be developed.
6. Reference list.
7. Appendices
A completed PEST/PESTLE grid. ( make sure you refer to it in section 4)