Homework: Marketing
Global Marketing Environment or the Twilite Zone?
The following Course Outcome is assessed in this Homework:
o Examine global interconnectedness as it applies to marketing.
In this unit, you will start working, encompassing steps I to II of your Homework.
Introduction: In anticipation of submitting your audiovisual presentation, you will conduct some research.
Organizations interested in pursuing global markets must consider the external environment. Many of the same environmental forces that relate to domestic markets also apply to global markets (Lamb, Hair, & McDaniel, 2018). You will look at the global marketplace in which, thanks to the Internet, even small companies can participate. The external marketing environment is full of opportunities and threats that can have a profound effect on the success or failure of a company, a brand, or a product in the global marketplace.
This Homework, you will practice scanning the global marketing environment (i.e., environmental analysis) for opportunities or threats to expansion of Perigord Bakery as the owner.
Read the scenario and then address steps I to III in at least 5 of the 10 PowerPoint slides per the instructions.
Scenario: You are the owner of Perigord Bakery, which is currently located in the city closest to where you live. You specialize in breads and sweets from many different countries and now have operations in six regions of the U.S. You realize the market has become saturated in the U.S. At a recent international trade show, you were surprised at how many requests you received to license or franchise your concept in other countries.
Your task is the following:
Based on the scenario, identify another country outside the United States to research and determine the feasibility of entering this foreign market for the Perigord Bakery as the owner by addressing the checklist items.
Checklist:
Step I: Cultural Factors
o Identify several cultural factors in the country you are pursuing that may affect market expansion of the bakery, such as: behavior patterns, the concept of time, lifestyle, etc. You can use Commisceo Global Consultancy's website to research country cultural factors.
o Considering these cultural factors, do you see them as possible opportunities or threats to entering this market? Please explain your response.
Step II: Demographic Factors
o Identify at least four demographic factors in the country you are pursuing, such as education, the size, growth, density, and age of the population, etc. Use the U.S. Census International database as a source of reference for the demographic information. It allows you to look up data by country and years.
o Explain why these demographic factors are opportunities or threats to entering this market.
Step III: Economic Factors
Access The World Factbook from the CIA and select the country of choice in the upper right hand corner search box.
o Identify these three economic factors in the country you are pursuing: GDP per capita (see the Reading area), GDP growth rate, and the unemployment rate in your chosen country.
o Explain why these economic factors are opportunities or threats to entering this market based on the country you chose.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.