BSBMKG605: Evaluate International Marketing Opportunities – Business – Case Study Assignment Help
To complete the unit requirements safely and effectively, the individual must:
- Define international marketing
- Identify international trade patterns
- Explain international trade policies and agreements
- Identify legislative requirements
Using an Australian company, identify two markets which would most likely be a market that they could expand their e-commerce business to. Using the Australian Trade and Investment Commission (AUSTRADE) , learners are to conduct an initial assessment of a market analyses to support a proposed international market to be selected (bullet points) that address on the following elements:
Estimate the impact of patterns, policies and agreements on the business opportunities
Identify the political, legal, economic, cultural factors for each country identified
Estimate the impact of these factors on the business (as much as possible given limited access to the Australian company’s information).
Estimate the ease of entering and trading in each market.
Analyse the political and financial stability and the risk of corruption of each country identified.
Analyse the main legal and regulatory requirements and trade barriers for each country identified.
Rate the acceptability of the risks, regulatory requirements and trade barriers.
Consider the impact of risk factors in light of international business cycles and economic conditions
Summarize current market trends including key industry areas, significant trade partnerships, and consumer characteristics (such as preferences, segmentation, purchasing patterns, etc.)
Identify any new or emerging opportunities to enter, shape or influence the market.
Estimate the contribution these opportunities could present to the business (as much as possible given limited access to the Australian company’s financial information).
Discuss the fit of these opportunities with direction and goals of the business
Q1. Assuming you are working for an Australian company and the CEO has recently expressed interest to expand the business overseas. You are to research and outline relevant Australian (and international) standards, policies and guidelines for the CEO’s consideration by visiting the Austrade website at http://www.austrade.gov.au a. Briefly explain what are the key factors that a company need to take into consider before embarking into international business? (see under Getting Ready for Export) b. c.d.e.f. Austrade has a new online tool i.e., International Readiness Indicator, to help Australian companies get into export. Why it is important for first-time Australian companies is encouraged to use this tool?
What are the key elements of an export strategy?
Free trade agreements (FTAs) are treaties between two or more countries that benefit Australian importers, exporters, producers and investors by reducing and eliminating certain barriers to international trade and investment. List four (4) of Australia’s free trade agreements (FTAs) in force.
Explain the role of the Organisation for Economic Cooperation and Development (OECD).
Provide a brief discussion on the potential of e-commerce.
What are the costs to be included when setting export prices?
Briefly explain what is the Export Market Development Grants (EMDG)
Exporting means more opportunities, but also entails greater risks. Although the environment for international trade has changed substantially over the years, the risks that exporters face when selling their products and services in other countries remain essentially the same. Explain the following: under
Bribery, graft and corruption risk
Quarantine compliance risk
Exchange rate risk
Social and cultural consideration risk
What are considerations when it comes to managing legal issues
Intellectual Property (IP) registration
Dealing with terrorists
Choose an Australian company of your choice and assume you are heading the marketing department which you are tasked to provide a review to the CEO on which country would be best suited for its business expansion plans in e-commerce.
- Browse the Australian Trade and Investment Commission (https://www.austrade.gov.au/ Australian/Export/Export-markets/Countries ) a nd identify two (2) countries of your choice to determine for the company to expand its e-commerce business to.
- Provide a brief on each countries’ background including its trade agreements with Australia.
iii. Conduct an analysis on each countries’ business environment and rank each country’s business feasibility.
- Provide a brief market review on the short-listed country mentioned above, on the following:
- Identify and analyze international marketing opportunities according to their likely fit with the organization’s goals and capabilities. Using the competitive advantage and market attractiveness analysis, rank each variable criteria in relevance if the competition is stronger or the company is stronger and negative or positive respectively.
- Identify and analyze international marketing opportunities ac