3000 words maximum.
GLOBAL MARKETING AND SALES DEVELOPMENT
You will be allocated a country and required to conduct a business environment audit relevant to international expansion to that country. You should conduct a PESTLE analysis for your allocated country, describe and evaluate those aspects of the environment (political, legal, economic, socio-cultural, technological and environmental) in the potential global market that are relevant to and, have implications for, developing a marketing strategy. The purpose of this evaluation is to identify potential market opportunities for the introduction of an international product/service. You will then be required to select an Irish/UK based SME product offering which you would consider has potential for expansion into this country, based on your PESTLE.
My allocated country for this assignment is PERU
You will develop a global marketing strategy to that country, for your chosen Irish or UK SME product/service. This will include (although not exclusively):
Plagiarism is a serious offence and if detected will be dealt with according to the UUBS policy. All coursework will be monitored for the detection of plagiarism using Turnitin.
The module leader will make use of feed forward in preparation for coursework. In addition, a discussion area will be used within Blackboard Learn, whereby students may support each other with regard to coursework, facilitated by the module leader. General feedback from assignments will be given, and students may make appointments to receive individual feedback. Individual written feedback will be given for all assignments along with marks as outlined above.
Guidelines for ASSIGNMENT Submission
Table of Contents
3.1 Macro-Environment Analysis
3.2 Micro-Environment Analysis
3.2.1 The Internal Analysis by Mckinsey’s 7s Model
3.2.2 Operational Environment by Porter’s 5 Forces
4.1 Rational for Objectives
5.1 Portfolio Analysis
5.1.1 The Attractiveness of allocated country
5.1.2 Competitive Strength of selected company
5.1.3 Mode of entry such as export, franchising, or Joint Venture etc. – with justification
5.1.4 Segmentation, targeting positioning
International TRADE/FDI-very very brief.Maybe one sentence
-Global marketing is criticised around the world however it provides advantages for many countries development.
For global marketing into a country like Peru to succeed ,the marketing environment needs to be studied/evaluated into a detail which will guide the strategy.If you like and there is more space you can highlight what a global strategy can give an organisation like the one you have chosen.
This report will therefore…………………………………..referencing is very important
What is the organisation (reference)
What are they (reference)
Their management orientionn-domestic market extension oriention,multidomestic market extension oriention or global marketing oriention (EPRG Schema) briefy why? The meaning of EPRG.(EPRG schema:Classifies firms by their orientation:ethnocentric,polycentiirc,regiocentric or geocentric.)
Products/services.These are not only items that can be used to complete the organisational profile aspect of the report.They are varying based on the SME chosen.
Environmental analysis/Situation analysis/Environmental audit/environmental intelligence
Define environmental/situation analysis.And reference it.How it is classified-Macro and Micro ,reference
PESTLE where it is Political Economic ………………………………………………………..reference
Political ideology of the country.Such as parliamentary democracy for Peru.(reference)
Democracy,autocracy,liberal conservative.Which is the originall,ethnocentric however liberalism is being increasingly infused into the political system.Maybe you can talk about Advantages and disadvantages of these.(Not to list sic advantages and 5 disadvatages ,I can say the advantages of democracy however it brings a lot of disadvantages because a ,b c ………….reference it
Political risk(what is) and which political vulnerability it brings.(go straight to your point)
A law which is key for business
Opportunities that can be gained from this political environment
Economic systems-command economy,mixed economy,free economy
Hofstede dimension or E.T. Hall cultural types
Technologicial infrastructure that exist
Diffusion of technology
Attitudes to technological change
Common law,coded law
Define the micro environment and mention the types.Internal and the industry.
Portes five forces (everything you do reference it you can use statista,business insider Mc Kinsey,Nielsen,Passport,Mintel World Bank ,BBC,FT,IMF, CIA,UN EU.D
According to (Marza’s,2019) Chinese buyer power is low because it amounted for 27% of luxury purchases, and it is expected to grow to 50% by 2025 with price, style and quality, which Wessex Watches prides itself on, being the main drivers. (Jing Daily,2019) States that Chinese millennials are more informed and knowledgeable about the value of luxury watches because of social media and their income levels, which is expected to continue rising, makes them a promising demographic. The rivalry is high for Wessex Watches, which is mainly from resale websites such as Watchfinder and Chronoexpert that provide second-hand luxury watches at cheaper rates (Marza,2019). The most significant threat of substitute to Wessex Watches is high because mobile devices provide time (Jing Daily,2019). However, purchasing trends are still healthy as (Statista,2019) reports that luxury watch sales revenue for this year so far is £8,323m, and the market size is approximately £2.12bn. Overall the industry is highly competitive with the Swatch Group dominating 32% of the luxury goods market, followed by Rolex with 19.2% and others at 8% (Statista,2019).
McKinseys 7s or Kaplan and Nortons Balanced Score Card
Define the marketing objectives reference.The rational of these marketing objectives it will be set to meet the SMART criteria.Reference.According to ABC (Year) SMART stands for Specific,Measurables,Achievable,Realistic and timed objectives.The rational of the objective in this report will be to seek new markets and to obatain resources.
-To increase market share by3% each year for the nest 3 Years
-To enlarge the market by 2% year on year for the next 3years
-To improve profitability by 2% in the next 2% and 3% after the 2 years to the 4th year .
High prices are suggested because the market for WW market is inelastic.It does no seem to be a mass produced product and the unit values can be high.Moreover the produc is heavily branded which will support general high prices.As the objective for going into china was stated as to seek new markets to obtain high profitability,the corporate objectives will influence the kind of strategy which will be set for the Peru market .To increase profits therefore,leasingcan be considered at any aportunity.