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Running head: INTERNATIONAL BUSINESS INTERNATIONAL BUSINESS name of the university Name of the students Author note 1 INTERNATIONAL BUSINESS Table of ...
Running head: INTERNATIONAL BUSINESS INTERNATIONAL BUSINESS name of the university Name of the students Author note 1 INTERNATIONAL BUSINESS Table of contents Introduction ..................................................................................................................................... 2 External environment analysis ........................................................................................................ 2 4ps of marketing Mix ...................................................................................................................... 6 Market entry strategy ...................................................................................................................... 7 Negotiation strategy ........................................................................................................................ 8 Merger implementation plan in Malaysian market ......................................................................... 8 Conclusion ..................................................................................................................................... 13 Reference and bibliography .......................................................................................................... 15 2 INTERNATIONAL BUSINESS Introduction The international business strategy helps the companies to expand the product and service outside of the national borders 1.In this study, the Australia based family owned enterprise called Marco polo has decided to enter in the Malaysian wine and beverage industry. In the current competitive business environment, the international market entry strategy highly depends on the suitability of external factors such as political, economic, social, technological, legal and environmental. Therefore, in this report the critical analysis of the external environment has been done by using the PESTLE analysis and in terms of understanding the product strategy, the 4ps of marketing has been explained. In the continuation of this the market entry strategy has been described understanding the opportunities and strengths available on the Malaysian market and sharing the effective negotiation strategy how the brand can improve brand awareness in the Malaysian market by aligning its strategic moves with the culture has been examined. External environment analysis PESTLE analysis Political factor In the analysis of Malaysian political environment it has been found that over the last 10 years various changes have been brought in the regulatory Framework followed by the country 2.The government has imposed various taxation policies and various environmental foreign as well as 1SR. Omar, SN. Omar. Reviving the Authenticity of Prophetic (Sunnah) Drinks in Beverage Industry in Malaysia: AReview. Journal of Fatwa Management and Research. Pp. 505-20.2018 2NZ Khanin. CORPORATE GOVERNANCE AND ITS IMPACT ON FIRM PERFORMANCE AND RISK IN FOOD AND BEVERAGE INDUSTRY: AN EMPIRICAL ANALYSIS ON NESTLE (MALAYSIA) BERHAD. 3 INTERNATIONAL BUSINESS domestic jurisdictions 3.However itis also true that compared to the other South Asian countries Malaysia is apromising country for the foreign investors. The country welcomes larger group of foreign investors for improving the trade relationship with the Global world. Is the government is quite strict in this country in terms of avoiding different types of criminal and illegal activities, in that case it is very important for the foreign investors to understand the market rent and show respect to the political view point in order to sustain in the market. Economic factor In the analysis on Malaysian beverage retail market, beer and wine consumption rate in this country has been seen that country has witnessed the rapid growth over the last five years. In the analysis of the GDP statistics in Malaysia from 2018 it has been seen that gradual growth has been seen in this country and in the last year the GDP has increased 6.9 % and wine and beverage industry contributes 1.1 % in the GDP in Malaysia 4.The unemployment rate in this country is incredibly low and the country has become the most profitable export market in the last few years 5.In most of the cases the sales rate of soft rings is comparatively higher than the others alcohol products. In this economically suitable environment, expanding the new business can be beneficial for the company. 3H. Junsheng, MM. Masud, R Akhtar, M. Rana. The mediating role of employees ’green motivation between exploratory factors and green behaviour in the Malaysian food industry. Sustainability. Vol. 12, Issue. 2, Pp:509, 2020. 2. TS. Kiow, MF. Salleh, AA. Kassim. The determinants of individual taxpayers ’tax compliance behaviour in peninsular malaysia. International Business and Accounting Research Journal. Vol. 30. Issue. 1,PP. :26-43, 2017 . 5NA. Abd Aziz, MH. Hanafiah. Fostering Factors of Malaysian Food and Beverage Franchisors ’Expansion into International Market. InProceedings of the 4th UUM International Qualitative Research Conference (QRC 2020) Dec (Vol. 1,p. 3). 2020 4 INTERNATIONAL BUSINESS Social factors Malaysia is amulti-confessional and multicultural country; however, the official religion in this country is Islam. In the analysis of the consumption trend in Malaysia, it has been found that although there is not restriction for alcohol consumption in this country, but due to higher Muslim dominance, the alcohol consumption is band in some of the locations such as Kelantan and Terengganu 6.The analysis of the social environment in Malaysia, it has been found that healthy drink consumption trend is quite high among the people in this country compared to the alcohol consumption rate. The people in this country are quite aware of the unhealthy lifestyle and the impact of higher sugar drink intake, which has increased the demand for healthy drink. Therefore, in order to operate in the Malaysian market the company needs to introduce anew healthy product line in terms of addressing the needs of the customers. Technological factors In the analysis of the Malaysian technological environment, it has been found that the involvement of high-tech industrial features along with the embracing approach towards the advanced technological features have made the industry technologically strong. In the current business environment, technology has become an important market element in terms of promoting the products and services in the market 7.The technological involvement in Malaysia has increased the popularity of social media as the effective marketing tool, which has brought huge brand awareness opportunities for the larger group of companies. Therefore, entering in the 6SB. Yahya, MB. Mokhtar. SMALL MEDIUM ENTERPRISES IN FOOD AND BEVERAGE INDUSTRY BEHAVIOURAL INTENTION TOWARDS HALAL AND FOURTH INDUSTRIAL REVOLUTION TECHNOLOGY. Jurnal Penyelidikan Sains Sosial (JOSSR). Vol. 3,Issue. 8, Pp.:16-21, 2020. 7NA. Abd Aziz, MH. Hanafiah. Fostering Factors of Malaysian Food and Beverage Franchisors ’Expansion into International Market. InProceedings of the 4th UUM International Qualitative Research Conference (QRC 2020) Dec (Vol. 1,p. 3). 2020 5 INTERNATIONAL BUSINESS Malaysian market can be quite suitable for the Australia based company because due to technological availability it can be easier for the company to reach the customers in better manner. Legal factors Standard customer rights related regulations along with the strict FDA rules proposed by the Malaysian government has increased the pressure for the companies those are serving the food related products 8.On the other hand, new taxation regulation, protection of company assets and others exportation policies have been launched by the government in terms of ensuring the security in trade activities in this country. In the strict regulatory environment, before starting business, the company needs to research on all the regulatory standards proposed by the government for avoiding the further risks. By continuing this, it can also be stated that due to availability of standard regulatory policies the business transparency can help the company to get involved into any types of illegal activities. Environmental factors Understanding the environmental factors available in the Malaysian trade segment, it has been found that as Malaysia is rich with flora, fauna and mangroves, therefore the government in this country is quite serious about the environmental protection process 9.While entering in this country, the company needs to maintain all the environmental protection protocol so that the 8MS. Shahbaz, AG. Kazi, B. Othman, M. Javaid, K. Hussain, RZ. Rasi, Identification, assessment and mitigation of environment side risks for Malaysian manufacturing. Engineering, Technology & Applied Science Research. Vol. 9. Issue. 1,pp.3851-7., 2019 . 9S. Mohamed, TS. Azzman. The Islamization of the Malaysian media: acomplex interaction of religion, class and commercialization. Intellectual Discourse. Vol. 26, Issue. 2,Pp. 635-58, 2018. 6 INTERNATIONAL BUSINESS water storage and land in this country will not get affected. The company needs to focus on improving its packaging, so that the material will not harm the environment. 4ps of marketing Mix Product In the analysis of the external environment in Malaysia, it has been found that due to increasing health consciousness among the people the healthy drink preferences are quite high in the market. Therefore, in order to export the product in the market, the company needs to adopt the strategy where introducing the sugar free energy drink called energy +, the company can enter in the market. The product will mainly target the teenagers, young generation and middle aged people. Initially the product will be sold in disposable cans. Initially 50000 units will be exported in this country. The energy drink will be brought in three different flavors such as vanilla, strawberry and apple. Price In the analysis of the Malaysian market, it has been found that the country belongs to the upper middle income group country. The country has diversified its export bases and increased the export sophistication. Therefore, the co premium pricing strategy will be followed for attracting the health conscious upper middle class customers. Place As the company is based in Australia in that case, the export will be done through indirect channel. In the initial stage rather than directly entering in the market, the third party collaboration will be beneficial in terms of understanding the market response. The products will 7 INTERNATIONAL BUSINESS be sold through the both online and offline distribution channels. Initially the company will collaborate with different distributors and later on itwill focus on merging strategy. Promotion It cannot be denied that in the current business environment marketing has become an important element of business in order to ensure the brand awareness. As the Australian based Wine and Beverage Company Marco polo is totally new in the South Asian market, in this case the company needs to concentrate on investing significant amount for the promotional purposes. Therefore, both the online and offline promotional strategy needs to be followed in terms of reaching the target segment. Understanding the cultural and social emotions of Malaysian people, the standard marketing content needs to be generated in social media. On the other hand, different promotional activities through the TV, radio, news papers can be done so that people can get to know that anew Australian brand Marco polo has entered in the Malaysian market with health energy drink. As the drink is sugar free and healthy energy drink in that case the celebrity endorsement can be done by the Malaysian athlete. Market entry strategy Marketing entry strategy is being defined as the planned distribution and delivery method of service and goods for anew market. The market entry strategy is quite important for both the export and import purposes. It is being referred as the establishment, management and creation process in the foreign country. Direct exporting, Licensing, merging, partnering, Joint venture, buying acompany and others are the important market entry strategies those are being followed by the companies while entering in anew market. In order to establish the long term relationship with the Asian market, the company has decided to initiate the accessibility of merging in the 8 INTERNATIONAL BUSINESS near future. In this case, merging the company mars will be the appropriate option for Marco polo as itis also apopular brand in the Malaysian market. Negotiation strategy Negotiation is being defined as the continuous process where both the parties get involved into solving the issue associated with the situation. In case of Marco polo, it is true that being the Australia based brand the company is not totally aware of the culture and emotional needs of the customers in Malaysia. In this situation understanding the customer need and gaining their trust the long term business existence in the market can be ensured based on the merging strategy with Marcs 10.Marcs is apopular name in the Malaysian beverage industry and in order to enter for the long term, the collaboration and team work will be the effective negotiation strategy for the company. the high performance collaboration and team work can reflect the standard leadership approach where based on the engaging entire the self assessment can be done. The particular strategic move can help in communicating regarding the expectation with the merging company. As the merging organization is based in Malaysia, in that that the company is already aware of the culture and needs of the customers. Therefore, with the selected strategy, following the customers need standard promotional initiatives can be brought where ensuring the community engaging initiatives the growth can be brought. Merger implementation plan in Malaysian market Steps Activities Responsible Duration Expected 10HK. Salim, R. Padfield ,CT. Lee, K Syayuti, E. Papargyropoulou, MH. Tham An investigation of the drivers, barriers, and incentives for environmental management systems in the Malaysian food and beverage industry. Clean Technologies and Environmental Policy. Vol. 20, Issue. 3,pp. 529-38, 2018. 9 INTERNATIONAL BUSINESS authority outcome Creation of the main document The offering will be shared along with the share of each of the brands CEO, Legal consultant, finance manager 1month The legal framework will be developed and both the companies will be aware of the business percentages and outcomes. Creation of the data sources The industrial protocol and market research data will be shared and its suitability with the new product can be promoted. Research and development team, marketing and sales team and finance manager 1month The market environment can be analyzed and based on the requirement the product list will be prepared. Address the merge field related activities The basic steps will be shared with the individuals in terms of CEO, legal consultants, manufacturing unit, team leaders, trainers 1month The vision of the company will be shared and evaluation report will be 10 INTERNATIONAL BUSINESS managing the outcome. and account department developed based on the current reality Management structure The project structure needs to be reshaped and the network expectations will be shared with the multiple lines. The structure will be expended as per the requirement because one of the merging brands is aware of the product line and the authority is responsible for informing others Market consultant HR managers 2months The ownership in the process will be created. The post merging structure will be shared with the employees and managers of both the companies. The communication will be developed between two groups and others collaborative practices will be shared. 11 INTERNATIONAL BUSINESS regarding the products and services. Inventory management In this stage conducting different meeting the company will decide regarding the storage and how to increase the level of the analysis process. Production team, sales team, inventory team and operation managers 3months In this particular stage, different tests will be conducted in case of collecting the information regarding the quality of product and its suitability in the current business environment. Information management Research and development will be done based on the analysis current situation. Along with the market opportunity the Research and development team, product team, sales team, legal team 2months In this stage the government sealed product can be introduced on the market where the sugar free health energy drinks 12 INTERNATIONAL BUSINESS base line of thee product will be analyzed. In this particular stage the product will be tested by the food ministry in Malaysia so that the authenticity of the offering can be ensured. benefits can be shared in the market for getting huge attention. Planning process will be developed for retaining customers Effective marketing strategy will be developed in this stage in order to promote the product in the market Initial stage new benefits will be provided for attracting the Marketing team, operation team 3months The standard marketing strategy can help in addressing the emotional and cultural need of the customers. The discount offers can help in getting the company more attention from 13 INTERNATIONAL BUSINESS customers. the customers. Monitoring the statistics In this particular stage the statistics of the sales and customer response will be analyzed and based on the further requirements the strategic decisions will be taken. Marketing team, audit team, analysis team, evaluation team 1year The particular stage will be necessary in terms of analyzing the growth associated with the organization and in this stage the (Created by author) Conclusion In the conclusion of this study it can be stated that being an Australia based Wine and Beverage product selling enterprise, it will be really effective for the company to enter in the Malaysian market because, itcan not only help in ensuring the internal market existence but also itcan help in ensuring the global awareness. It can be stated that in order to promote the brand for longer period the collaboration and teamwork can be an effective leadership strategy where the 14 INTERNATIONAL BUSINESS company can be able to understand the cultural value of them by getting engaged with the community. 15 INTERNATIONAL BUSINESS Reference and bibliography AM. Alashwal, NF. Fareed, KM. Al-Obaidi. Determining success criteria and success factors for international construction projects for Malaysian contractors. Construction Economics and Building. Vol. 17, Issue. 2, pp. 62-80. 2017 H. Junsheng, MM. Masud, R Akhtar, M. Rana. The mediating role of employees ’ green motivation between exploratory factors and green behaviour in the Malaysian food industry. Sustainability. Vol. 12, Issue. 2, Pp:509, 2020. HK. Salim, R. Padfield ,CT. Lee, K Syayuti, E. Papargyropoulou, MH. Tham An investigation of the drivers, barriers, and incentives for environmental management systems in the Malaysian food and beverage industry. Clean Technologies and Environmental Policy. Vol. 20, Issue. 3, pp. 529-38, 2018. HK. Salim, R. Padfield, A. Yuzir, SE. Mohamad, N. Kaida, E. Papargyropoulou, S. Nakamura. Evaluating the organizational intention to implement an Environmental Management System: evidence from the Indonesian food and beverage industry. Business Strategy and the Environment. Vol. 27, Issue. 8, PP. 1385-98, 2018. KA. Mohamad, N. Othman, M. Ali. Understanding Political Psychology and Its Importance to the Malaysian Politics. J. Pol. & L.. 2020 MS. Shahbaz, AG. Kazi, B. Othman, M. Javaid, K. Hussain, RZ. Rasi, Identification, assessment and mitigation of environment side risks for Malaysian manufacturing. Engineering, Technology & Applied Science Research. Vol. 9. Issue. 1, pp.3851-7., 2019 . 16 INTERNATIONAL BUSINESS NA. Abd Aziz, MH. Hanafiah. Fostering Factors of Malaysian Food and Beverage Franchisors ’ Expansion into International Market. InProceedings of the 4th UUM International Qualitative Research Conference (QRC 2020) Dec (Vol. 1, p. 3). 2020 NZ Khanin. CORPORATE GOVERNANCE AND ITS IMPACT ON FIRM PERFORMANCE AND RISK IN FOOD AND BEVERAGE INDUSTRY: AN EMPIRICAL ANALYSIS ON NESTLE (MALAYSIA) BERHAD. S. Mohamed, TS. Azzman. The Islamization of the Malaysian media: acomplex interaction of religion, class and commercialization. Intellectual Discourse. Vol. 26, Issue. 2, Pp. 635-58, 2018. SB. Yahya, MB. Mokhtar. SMALL MEDIUM ENTERPRISES IN FOOD AND BEVERAGE INDUSTRY BEHAVIOURAL INTENTION TOWARDS HALAL AND FOURTH INDUSTRIAL REVOLUTION TECHNOLOGY. Jurnal Penyelidikan Sains Sosial (JOSSR). Vol. 3, Issue. 8, Pp.:16-21, 2020. SR. Omar, SN. Omar. Reviving the Authenticity of Prophetic (Sunnah) Drinks in Beverage Industry in Malaysia: A Review. Journal of Fatwa Management and Research. Pp. 505-20.2018 TS. Kiow, MF. Salleh, AA. Kassim. The determinants of individual taxpayers ’tax compliance behaviour in peninsular malaysia. International Business and Accounting Research Journal. Vol. 30. Issue. 1, PP. :26-43, 2017.
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