Reference no: EM132384833

MKT260 International Marketing Assignment - Charles Sturt University, Australia

Abstract - International economic, cultural, political and legal environments will be studied as a prelude to planning marketing strategies for international markets. The subject will examine the role of marketing research, international finance, market entry and expansion strategies and the marketing mix in international marketing.

Learning outcomes - Upon successful completion of this subject, students should:

• be able to analyse elements of the international environment and their inter- relationship and demonstrate their relevance to international marketing strategies;
• be able to identify and assess international marketing opportunities and threats;
• be able to plan, implement and manage international marketing strategies;
• be able to formulate effective strategies for international marketing, including market entry and marketing mix strategies; and
• be able to apply cultural sensitivity to create marketing strategies aligned with global citizenship principles.

Assessment item 1 - Critical Analyses of Internat'l Marketing Issues

Task - The first assessment aims to enable students by using international marketing theories concepts, and research to analyse situations, challenges that organisations face while marketing their products globally. It will also ensure students have three key skills needed throughout this subject:

1. critical analyses,

2. applying theory to real world situations, and

3. referencing.

Finally, the assessment provides students the opportunity to enhance their research, analyses, critical thinking, and written communication skills; particularly in the areas of views, and argument development. Four resources have been provided for you to use to help you with Assessment One. Even if you feel very confident about your researching and referencing skills, please go to each resource before you begin the assessment as you will need to use them to complete the task.

Access the following in your Resources folder on Interact:

• Online research using Google Scholar
• Finding sources using Primo Search
• Referencing using APA style
• How to apply theory to practice

Then, critically analyse any 2 of the following 5 issues of international marketing:

1. Discuss the theory of comparative advantage and its limitations as an explanation for international trade.

2. Compare the product life cycle with the product trade cycle as explanations for involvement in international marketing.

3. What are the key differences between various forms of political instability? Explain with examples.

4. What are the new emerging global trends likely to influence the global economic scene in the 21st century?

5. What are the most common forms of financial risk involved in doing business internationally? What ways exist of minimising this financial risk for local firms?

Use at least two academic references for each issue totally a minimum of four references for the whole assessment.

Assessment item 2 - Case Study on Culture and International Marketing

Task - Read the case titled LJ Hooker's reach to China in Chapter 4 (page: 154) of your textbook and critically analyse the following questions:

1. Which elements of culture can be identified in LJ Hooker's strategy of targeting cashed up Chinese residential property investors?

2. In your own assessment, what are the real benefits of the Juwai.com strategic alliance for LJ Hooker?

3. What are the cultural differences of the Chinese residential property buyers that are depicted in this case study?

4. Which of Hofstede's components can be applied to the LJ Hooker and Juwai.com strategic alliance?

You must use at least 5 academic references to support your answers.

Assessment item 3 - Weekly Workshop Discussion Activity

Task - This assessment task requires you to participate in discussion activities throughout the term. Discussion activities topics will be discussed in class. In addition to the discussion activities, additional international marketing news and articles will also be discussed as we progress in the term. You are encouraged to participate in all discussion sessions, and youwill be graded on two discussion activities of your choice. You will be given the opportunity to choose your best discussion participation topics and you must deliver these two topics for marking and upload a word document. While completing these discussion activities, you need to consider other fellow students' views and perspectives.

Assessment item 4 - International Marketing Plan

Task - This assessment is to develop an international marketing plan for any one of the following Australian product/service to an international market:

• Australian dairy product to China
• Australian made natural cosmetics (e.g. soap, shampoo, lotion, etc.) to Japan
• Australian event management consultancy (i.e. major sports, music, and other events, venues, and conference centres) in UAE
• Australian beef in a European country of your choice

The marketing plan will have two major sections:

• Section 1: Country/Product Opportunity Brief
• Section 2: Marketing plan

Section 1: Country/Product Opportunity Brief (maximum 1000 words):

In this section, you are expected to researchmarket opportunities, develop a 'Country/Product Opportunity Brief' highlighting the opportunities and challenges that exist for your chosen product/service entry into the given country.

The objective of developing a country/product brief is to identify international marketing opportunities in your focus market for your chosen product/service and this will form the first few sections of a comprehensive international marketing plan. You will need to conduct research on products/service with which you plan on entering the market, as well as research the most current issues that you may face in entering a specific country. Issues include, but are not limited to legal/regulatory concerns, political risk, cultural nuances that require adaptation, entry/importation procedures/policies, competitive nature of industry, suppliers/channels of entry, and tariffs/taxes.

This section should be a maximum of 1000 words. It is strongly recommended to use headings/ sub-headings in this section. This section must include:

• Situation Analysis

Business environment - Information on aspects of the macro and micro environment (PESTLE) relevant to this opportunity.

Market Analysis - Customer segments/profiles relevant to your product in that market, size, growth rates.

Competitive Analysis - who are the major competitors and what is their competitive advantage.

Organisational Analysis - evaluation of the Australian product/service you recommend for this opportunity - what is your product's/service's competitive advantage?

SWOT Analysis - a summary of key points discovered in the Situation Analysis (present in a matrix format).

You are expected to utilise numerous data sources in compiling data, such as government (country) and non-government sources (UN, World Bank, IMF, etc.), Australian Government sites, company records, consulting, legal and advertising firms, country-specific internet sites, trade statistics, and embassy resources. Any use of Wikipedia as a source for the assignment will result in an automatic zero mark, as it is not a reliable source.

Section 2: Marketing Plan (maximum 2000 words):

This section involves the development of the remaining sections of the international marketing plan. In this section, you will build on what you have developed in Section 1 and complete the remaining sections of a comprehensive international marketing plan. You are expected to develop a detailed market entry plan that will involve making decisions on issues such as:

• mode of entry;
• segmentation, targeting, positioning; and
• strategic options for the 4Ps, including the extent of standardisation vs. adaptation needed.

This section should be a maximum of 2000 words. It is strongly recommended to use headings/sub-headings in this section. This section must include:

• Mode of Entry

Locations: city, region, etc.

Exclusive marketing or joint venture, etc. for marketing of the product/

• Segmentation, Target, Positioning(STP should be consistent with and driven by overall competitive strategy)

Segmentation options and final basis and analysis for segmentation

Target group selected, size, sales potential

Positioning options and final analysis and basis for positioning

• Marketing Mix (4 P's should be integrated among themselves and consistent with STP)

Product (degree of standardization/customization, why appropriate, what needs products meets, what their advantages would be over local and global competitors' products/services, etc.)

Promotion (what media, other promotional efforts, what kind of reach expected, how promotion would be culturally appropriate or tailored, degree of standardization, etc.)

Pricing (what pricing strategy used (financial analyses not required)

Place or Distribution (what channels to be used, what channels available, expected ease or difficulty of channel access, measures used to overcome difficulties, direct distribution or using partners or agents, sales force management, etc.)

Use at least 15 academic references for this assessment.

Presentation -

• Use a report format. It is assumed that you are familiar with the conventions of report writing.
• Include a formal cover page that shows the subject code and title, the assessment item numbers, your name and student number, and the total word count. The word count includes everything other than the cover page, executive summary, table of contents and the reference list. It includes in-text citations and text included in images.
• Use academic language and writing style in order to communicate your ideas clearly. Being able to communicate well is vital for participating effectively in the workplace. Use 12-point, 1.5 line spacing.

Note - Need only Assessment item 4 - International Marketing Plan - 3000 words.

Attachment:- International Marketing Assignment File.rar