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MKTG3060 International Marketing

Question

Answered

Task:

Question 1:

In your response, what are the five factors that promote standardisation and adaptation? (2 mark). Is there a distinction between good and services in terms of standardisation and adaptation (1 mark). What role could culture and product type play in the need for adaptation? Provide examples from your experience (2 marks)

Question 2: 

In your response, explain what do your understand by the term Bottom of the Pyramid ? (1 mark)  Does the BOP represent an opportunity for International marketing companies exporting abroad. (2 marks) What degree of adapatation would be required to achieve success in BOP markets. (1 mark)

Question 3:

In your response, discuss the concept of risk and control in relation to the varios market entry strategies? (2 marks) How does the size of an organisation potenially affect risk and control encountered in International markets (1.5  marks). Explain a Born global and Greenfield operation in relation to risk and control. (1.5 marks).

Question 4:

In your response, why should an international company consider adopting a Triple Bottom Line (TBL) approach to their business? (2 marks). What are the Pros and Cons of adopting a TBL approach, (2 marks). Provide an example of one company that has adopted a TBL approach. (1 mark). 

Question 5: 

You are the General manager for Ingredion Australia, and you are facing supply chain delays in shipping from you manufacturing plant in Boston, USA and soaring customer demand has led to shipping containers backing up at Australian and global ports, meaning inordinately long wait times for your customers.

In your response, how would you advise customers who are being impacted by this supply chain problem. (2 marks) What practical solutions could you offer your customers in lieu of these delays. (3 marks) 

Question 6: 

In your response, explain what you understand by the terms offshoring and reshoring (2 marks). What is the motivation and incentive for companies to consider reshoring in the post COVID-19 international marketing environment. (2 marks) Provide an example of one company that has deployed reshoring. (1 mark). 
 
Section B:   Case study – 10 marks

Consider the following:  Trade with China is crucial — it's Australia's largest trading partner. Huge imports of iron ore and coal into China helped Australia avoid a recession during the global financial crisis.

Chinese tourism into Australia and students studying in the country's tertiary institutions further helped support a record run of economic growth. In, 2020, the Australian coronavirus recession would have been deeper if it were not for, again, surging exports of iron ore into China.
So, when China began putting up trade barriers to Australia during a particularly difficult time for drought-ridden farmers, it caused some anxiety. Now, the latest data from the Australian Bureau of Statistics (ABS) shows, on the whole, the trade spat hasn't hurt Australia. In fact, Australia's export industry is in a better position ABS quoted.

The latest trade data from the ABS show the fourth-largest trade surplus ever recorded. In your response, what would your answers be to the following questions below:

A) Do you agree with the Australian Bureau of Statistics (ABS) comment, that the current trade dispute hasn't hurt Australia’s trade with China.? (2 marks)

B) What Australian exports have been impacted by the China trade dispute. (2 marks)

C)  Do you think Australia’s long-term trade position with China will erode? (2 marks)

D) How important is it for Australia to diversify its trade portfolio with other countries? (2 marks)

E) What is a new key industry sector Australia should support for renewed export growth?  

MKTG3060 International Marketing

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