BA (Hons) Business Administration Page 1 of 6 MKT7004 International Marketing Formal Report Date for Submission: Please refer to the timetable on ilearn. (The submission portal on ilearn will close at...

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BA (Hons) Business Administration Page 1 of 6 MKT7004 International Marketing Formal Report Date for Submission: Please refer to the timetable on ilearn. (The submission portal on ilearn will close at 14:00 UK time on the date of submission) Page 2 of 6 Assignment Brief As part of the formal assessment for the programme you are required to submit an International Marketing assignment. Please refer to your Student Handbook for full details of the programme assessment scheme and general information on preparing and submitting assignments. Learning Outcomes: After completing the module, you should be able to: 1. Identify and analyse trends within the marketing environment 2. Assess the effectiveness of various tools for gathering marketing information. 3. Critically analyse the main approaches to international marketing 4. Identify and critically analyse information needed to establish and implement effective global marketing decisions, policies and strategies 5. Develop, evaluate and justify appropriate international marketing strategies for a mix of different economies and organisations 6. Critically evaluate the appropriateness of e-business strategies 7. Responsible Global Citizenship: Understand global issues and their place in a globalised economy, ethical decision-making and accountability. Adopt self- awareness, openness and sensitivity to diversity in culture. Your assignment should include: a title page containing your student number, the module name, the submission deadline and a word count; the appendices if relevant; and a reference list in Arden University (AU) Harvard format. You should address all the elements of the assignment task listed below. Please note that tutors will use the assessment criteria set out below in assessing your work. Maximum word count: 5000 words Please note that exceeding the word count will result in a reduction in grade proportionate to the number of words used in excess of the permitted limit. Page 3 of 6 Assignment Task Background Sentilental are a small manufacturer of healthy snack foods (assume they are based in the country you reside in). They produce a range of low fat, vegan snacks. From small beginnings, they won a food innovations award and were awarded a contract to supply a national food retailer. They currently have sales of £1.2m per annum (or the equivalent in your local currency). The company realizes that there are opportunities to grow their business by expanding to overseas countries but require some expert advice before deciding where to expand and how. You have been approached by the owner - in your role as an International Marketing Consultant - to address the following: Task 1 Select two potential, contrasting overseas markets and discuss the differences likely to be encountered in expanding from the home market (cultural, economic and so on). (1000 words) (20 marks) (LOs: 1 and 2) Task 2 Evaluate three different market entry strategies you might consider utilising. (2000 words) (40 marks) (LOs: 3, 4 and 5) Task 3 Provide an evaluation of e-business opportunities for one of the markets discussed in Q1. In addition, you should comment on the strategies you will utilise to optimise the organisation’s stance on global citizenship and ethical behaviour. (2000 words) (40 marks) (LOs: 5, 6 and 7) (Note: Sentilental is a fictitious company) Page 4 of 6 Formative Feedback You have the opportunity to submit a one-page executive summary of your assignment to receive formative feedback. The feedback is designed to help you develop areas of your work and it helps you develop your skills as an independent learner. Your work must be submitted to the module tutor no later than two weeks prior to the submission deadline. This is to allow time for you to reflect on the feedback and draft your final submission. Formative feedback will not be given to work submitted after the above date. Guidelines: You MUST underpin your analysis and evaluation of the key issues with appropriate and wide ranging academic research and ensure this is referenced using the AU Harvard system. The My Study Skills Area contains the following useful resources: Guide to Harvard Referencing http://moodle.bl.rdi.co.uk/guides/HarvardRef/AU_Harvard_Quick_Ref_Guide.pdf Guide to Harvard Citation http://moodle.bl.rdi.co.uk/guides/HarvardRef/AU_Guide_to_Harvard_Citation.pdf You must use the AU Harvard Referencing method in your assignment. Additional notes: Students are required to indicate the exact word count on the title page of the assessment. The word count excludes the title page, executive summary, reference list and appendices. Where assessment questions have been reprinted from the assessment brief these will also be excluded from the word count. ALL other printed words ARE included in the word count. Printed words include those contained within charts and tables. See ‘Word Count Policy’ on the homepage of this module for more information. Assignments submitted late will not be accepted and will be marked as a 0% fail. Your assessment should be submitted as a single Word (MS Word) or PDF file. For more information please see the “Guide to Submitting an Assignment” document available on the module page on iLearn. You must ensure that the submitted assignment is all your own work and that all sources used are correctly attributed. Penalties apply to assignments which show evidence of academic unfair practice. (See the Student Handbook which is on the homepage of your module and also in the Induction Area). http://moodle.bl.rdi.co.uk/guides/HarvardRef/AU_Harvard_Quick_Ref_Guide.pdf http://moodle.bl.rdi.co.uk/guides/HarvardRef/AU_Guide_to_Harvard_Citation.pdf Page 5 of 6 Assessment Criteria (Learning objectives covered - all) Level 6 study represents the student’s increasing autonomy and independence in relation to their knowledge, understanding and skills. At Level 6, students are expected to demonstrate problem solving skills in both practical and theoretical contexts. This should be supported by an understanding of appropriate theory, creativity in expression and thought based on independent but informed judgments. Students should demonstrate the ability to seek out, invoke, analyse and evaluate competing theories and claims to knowledge and work in a critically constructive manner. Work at this level is articulate, coherent and skilled. Grade Mark Bands Generic Assessment Criteria First (1) 80%+ An exceptional knowledge base exploring and analysing the discipline, its theory and any associated ethical considerations. The work demonstrates extraordinary independence of thought and originality. There is exceptional management of learning resources and a high degree of autonomy is demonstrated which goes above and beyond the brief. The work demonstrates intellectual originality and creativity. Writing is exceptionally well structured and accurately referenced throughout. Where appropriate, outstanding professional skills are demonstrated. The work is original and with some additional effort could considered for internal publication. 70-79% An excellent information base within which the discipline is explored and analysed. There is considerable originality in the approach and the work demonstrates confidence and autonomy and extends to consider ethical issues. Learning resources have been managed with exceptional confidence and the work exceeds the assessment brief. Writing is exceptionally well structured and accurately referenced throughout. Where appropriate, an excellent level of professional skills are demonstrated and the work demonstrates a high level of intellectual and academic skills. Upper second (2:1) 60-69% A very good knowledge base which explores and analyses the discipline, its theory and any associated ethical issues. There is evidence of some originality and independence of thought. A very good range of learning resources underpin the work and there is clear evidence of self-directed research. The work demonstrates the ability to analyse the subject and apply theory with good academic and intellectual skills. Academic writing skills are good, expression is accurate overall and the work is consistently referenced throughout. Lower second (2:2) 50-59% A satisfactory understanding of the discipline which supports some analysis, evaluation and problem-solving within the discipline. There may be reference to some of the ethical considerations. The work shows a sound level of competence in managing basic sources and materials. Academic writing skills are good and accurate overall and the work is planned and structured with some thought. Professional skills are satisfactory (where appropriate). The work may lack originality but academic and intellectual skills are moving into the critical domain. The work is referenced throughout. Page 6 of 6 Third (3) 40-49% Basic level of performance in which there are some omissions in the understanding of the subject, its underpinning theory and ethical considerations. There is little evidence of independent thought and the work shows a basic use of sources and materials. Academic and intellectual skills are limited. The work may lack structure overall. There are some difficulties in developing professional skills (where appropriate). There is an attempt to reference the work. Marginal Fail 30-39% A limited piece of work in which there are clear gaps in understanding the subject, its underpinning theory and ethical considerations. The work shows a limited use of sources and materials. Academic and intellectual skills are weak and there are errors in expression and the work may lack structure overall. There are difficulties in developing professional skills (where appropriate). The work lacks original thought and is largely imitative. 29% and below A poor performance in which there are substantial gaps in knowledge and understanding, underpinning theory and ethical considerations. The work shows little evidence in the use of appropriate sources and materials. Academic writing skills are very weak and there are numerous errors in expression. The work lacks structure overall. Professional skills (where appropriate) are not developed. The work is imitative.
Answered Same DayFeb 14, 2021

Answer To: BA (Hons) Business Administration Page 1 of 6 MKT7004 International Marketing Formal Report Date for...

Soumi answered on Feb 20 2021
152 Votes
MKT7004
INTERNATIONAL MARKETING
Table of Contents
Task 1    3
South Africa    3
United States of America    4
Comparison of UK with USA and South Africa    4
Task 2    5
Exporting    5
Acquiring a similar unit in foreign country    6
Joint Venture    7
Task 3    9
E-business opportunities    9
Strategies for global citizenship    11
Strategies for ethical behaviour    12
References    14
Task 1
With the advent of globalisation, firms desire to operate globally to increase their revenue and brand value. Operation in foreign markets is different from operations in home country therefore; the management should take an informed decision while deciding which markets to enter. There are various differences between two markets such as cultural difference, economical difference, and technological difference and so on. The management needs to analyse the issues of all the markets from various perspectives. This helps in analysing the opportunities and threats existing in the market. The market chosen for the purpose of this assignment are United States of America and South Africa. United States of America is a dev
eloped economy whereas South Africa is an economy with a number of economic problems like unemployment and hence is not a developed country.
South Africa
According to Power et al. (2016), South Africa is a developing economy but there are a number of economic issues at present. The currency of South Africa is at its all-time low. Being a developing economy, South Africa has huge potential for new business. However, the weakening of the currency has led to ambiguity in the minds of the investors regarding the return on their investments. However, South Africa is a huge economy and has potential for providing healthy returns on new investments. The economy of South Africa is different from that of United Kingdom or other developed economies. There is abundance of labour, due to which the cost of operations is low in South Africa. Majority of the international trade of South Africa is with China. However, the Chinese economy is slowing down due to which, the Chinese investment in South Africa has decreased. Therefore, South Africa is trying to attract investment from foreign countries to keep up with the pace of development.
The purchasing power of the people of South Africa has decreased by 25% due to decrease in the value of its home currency. However, the culture of South Africa is such that people like to spend on food. The tastes and preferences of South Africans differs largely form that of American. As per the views of Charman et al. (2017), the daily food in South Africa revolves around simple fare of starches and meat. South Africa is an economy, which has livestock farming as a major component of GDP. People of South Africa gather at weekends and enjoy barbecues called braais. Most of the snacks items are outsourced from United Kingdom or some other countries. However, the tradition is changing among the youth. People enjoy snacks and demand a large variety of items. It is expected that the South African economy have huge growth potential. With this hope, investors are investing in the country to ensure that they get a significant return on their investments.
United States of America
According to Akaev et al. (2018), the United States of America is a developed economy with high purchasing power of people. It is one of the most preferred investment destination due to the huge size of its economy. The per capital income in America is one of the highest across the globe. The unemployment rate is one of the lowest across the globe. Manufacturing and services industry support the economy of Australia up to a great extent. The country has huge revenue from exports and has the largest economy.
Like every developed countries, USA also has a problem of ageing population. This has led to a shortage of labour and increasing tax rates in the future. The healthcare and education system of Australia is one of the best across the globe. There are many opportunities for investors from different parts of the globe. It also ranks at a decent position in the list of ease of doing business. Innovations and technology are at the crux of economic developments of United States of America. It faces strong competition from other developing and developed economies. People of America have a liberal mind-set and ready to accept things.
As per the opinion of Nishizawa and Gibson (2018), Americans like to spend on food as they have a high per capital income. The income level is high, which supports the expenditure on outside foods. However, there is a strong competition in American markets. The local players have huge market share, which affects the market share of foreign players. However, the Americans do not differentiate between local and foreign brands. The purchasing decision depends mainly on quality rather than on price. There are customers who are price sensitive, but the price is not a major criterion in America, unlike in other countries.
Comparison of UK with USA and South Africa
According to the views of Nishizawa and Gibson (2018), the economy of UK is different from United States of America and South Africa. With the recent exit of Britain from the European Union, the economic landscape of United Kingdom has changed. However, the GDP of the country is high in comparison to South Africa, but low in comparison to United States of America. The snacks market of United Kingdom and USA may have certain similarities, but there is less similarity in the snacks market of UK and South Africa. People prefer to spend heavily on snacks in countries like USA and UK.
On the other hand, spending on snacks is not much prevalent in South Africa. In South Africa, people prefer meat to other items. However, in United States of America and United Kingdom, people are ready to try out new cuisine and snacks. There is a great difference in the culture of all the three countries mentioned above. With the recent changes in the policies of the government of United States of America, Sentimental may face expansion issues in America. South Africa on the other hand attracts foreign investment and expanding in South Africa may not be an issue for the company. In South Africa, the rate of unemployment is high therefore; the labours are available at a cheap rate. On the other hand, the unemployment rate of America and UK is low, due to which the labour cost is high in such areas.
Task 2
As per the views of Watson et al. (2018), entering into a new market requires significant knowledge about the market. The primary requirement is the market research, which provides the data for taking decisions. There are different strategies for entering a new market such as exporting, licensing, franchising, joint venture and others. Each strategy has different merits and demerits. Three different strategies for entering the markets of South Africa and United States of America are as follows:
Exporting
It is one of the most preferred strategy to enter a market. Initially, organisations tend to export products to target country as a pilot project to observe the response of the target customers. It does not require much of an investment in foreign countries and hence, it can be undertaken without much of a financial risk. In the current scenario, Sentilental is not a large company as its revenue is limited to £1.2 million per annum. Therefore, it may opt for the option of exporting to try the response of the product in South Africa and United States of America. In case of exporting, there is no requirement of setting up a manufacturing facility in other country. The company can tie up with few major exporters and ensure the availability of the product in the target countries, which are United States of America and South Africa.
According to De et al. (2015), there are various advantages of exporting for an organisation. Such advantages includes manufacturing set-up is home based and thus there are lesser operational risks. It will also provide the opportunity to the marketing team of Sentilental to observe the market of foreign countries before investing in foreign the foreign country. The firm will be able to reduce the risk of operating overseas. However, the firm will also be having certain disadvantages, which include the business is left at the mercy of the agents. The agents operate solely on commission and therefore, they will prefer selling the products of companies that offer them the best commission scheme.
According to Balsmeier et al. (2016), the firm can opt for different types of export strategies such as aggressive exporting or passive exporting. If the firm follows passive exporting strategy, it will have to wait for the orders of the agents. On the other hand, adopting the aggressive exporting strategy will enable the firm to market its products and create demand for its products through a push strategy. This will require some advertisement and promotion cost but the same will increase the probability of the expansion plan in foreign markets. For adopting the aggressive strategy, the firms will have to set a price, which is highly competitive. In addition to that, the quality of the product should be tailored as per the local preference of each foreign market. On the other hand, the firm can also sell a standardised product across the globe, similar to the strategy adopted by “Starbucks”, the famous coffee chain. However, it will be beneficial if the quality of product is modified as per the local taste of the customer.
The company will have to dedicate sufficient resource if the aggressive marketing strategy is followed. The exporting marketing channel will comprise of various intermediaries, which includes intermediary, importer and wholesaler. The firm needs to ensure that the commission across all the level is higher than that offered by the competitor. Initially, the firm should focus on low margin and acquire market share. According to Shen et al. (2017), once the company has sufficient market share, it can increase the price or reduce the commission to increase the profit margin.
The firm should focus on high volume and low margin for the time being to capture the market. Opting the exporting option of expansion will enable the firm to check the demand for the product in the new market. In future, the firm can also change its product and align the snacks as per the local taste. This will act as a pilot project for the firm and will enable the firm to check the type of demand for snacks in the market. The firms will thus get some time to adjust itself in the market along with the testing the product in the market.
Acquiring a similar unit in foreign country
This is one of the most common export strategies used by foreign firm to enter a country. This enables the firm to get a ready market for the product and understand the market effectively. According to the views of Wan et al. (2018), in case of acquisition of a...
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