Reference no: EM132144386

Evaluate International Marketing Opportunities

Procedures and Specifications of the Assessment

Task 1

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

Task 2
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

Task 1

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

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) GETTING READY :
Learn the basics of exporting and get advice on the first steps in preparing your company for export
EXPORT STRATEGY :
An export strategy is an essential component of your business plan. Find out how to implement a successful export strategy.
MARKET RESEARCH :
Good market research entails finding out what actually drives a market - and how to get the best out of it.
EXPORT MARKETING :
First impressions are important. Learn how to gain a competitive advantage by presenting well.
AGENTS :
Most Australian firms rely on agents or distributors to represent their business in international markets.

b. 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?(see under International Readiness Indicator)
1) We help international investors and companies from around the world identify and take-up investment opportunities in Australia.
2) We help international buyers by providing insights about Australian industry and service capabilities, and we can help you source and contact Australian suppliers.
3) And for international students, we bring you the latest news and course information about studying and living in Australia.

c. What are the key elements of an export strategy? (see under Export Strategy)
A sound export strategy will help you in dealing with bankers, financial advisers and government agencies. It will ensure you grow within your capability - and not stretch resources.
Make sure your domestic and international marketing activities are aligned.
Recognise your competitive strengths and provide for weaknesses.
Create your export strategy with quantifiable objectives.
Develop basic scenarios to test how your company will respond to change.
Keep it brief - but keep it current.
Seek out others to review your strategy.
d. 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.

e. Explain the role of the Organisation for Economic Cooperation and Development (OECD).

The Organisation for European Economic Cooperation (OEEC) was established in 1948 to run the US-financed Marshall Plan for reconstruction of a continent ravaged by war. By making individual governments recognise the interdependence of their economies, it paved the way for a new era of cooperation that was to change the face of Europe. Encouraged by its success and the prospect of carrying its work forward on a global stage, Canada and the US joined OEEC members in signing the new OECD Convention on 14 December 1960. The Organisation for Economic Co-operation and Development (OECD) was officially born on 30 September 1961, when the Convention entered into force.the OECD brings around its table 39 countries that account for 80% of world trade and investment, giving it a pivotal role in addressing the challenges facing the world economy.

f. Provide a brief discussion on the potential of e-commerce. (see under Export Marketing)
It is the conduct of business on the internet, not only buying and selling but also servicing customers and collaborating with business partners. Here, I am talking about some key drivers of e-commerce.
Technological Factors : The degree of advancement of the telecommunication infrastructure which provide new access to the technology for customers and business
Political factors : Incliuding the role of government in creating government legislation, initiatives and funding to support the use and development of e-commerce and information technology
Social factors : incorparting the level and advance,
Economic factors
g. What are the costs to be included when setting export prices?(see under Export Pricing)

h. Briefly explain what is the Export Market Development Grants (EMDG) (see under Market Research)

i. 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: (see under Risk Management)

i. Political risk
ii. Legal risk
iii. Bribery, graft and corruption risk
iv. Quarantine compliance risk
v. Exchange rate risk
vi. Non-payment risk
vii. Social and cultural consideration risk

j. What are considerations when it comes to managing legal issues (see under Legal Issues)
i. Government sanctions
ii. Intellectual Property (IP) registration

iii. Dealing with terrorists
iv. Dispute resolution
v. Foreign bribery

Task 2

1. 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.
i. Browse the Australian Trade and Investment Commission and identify two (2) countries of your choice to determine for the company to expand its e-commerce business to.
ii. 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.

2. Provide a brief market review on the short-listed country mentioned above, on the following:

3. 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.

4. Identify and analyze international marketing opportunities according to their likely fit with the organization's goals and capabilities

Attachment:- Evaluate International Marketing Opportunities.rar