International Marketing Strategy Essay For A Company.

Evaluate the company’s current performance and environmental analysis

Identify the company’s international marketing objectives

Discuss what are the considerations of entering into an international country

Develop a risk management strategy plan to address the company’s contingency plans

Provide research for the company to determine what are the international marketing opportunities

Discuss what are the culture and consumer preferences considerations in order to support the company’s international marketing plans

Identify options for operational marketing structure that best fits international market and product or service.

Evaluation of Current Performance and Environmental Analysis

Each assessment component is recorded as either Satisfactory (S) or Not Yet Satisfactory (NYS). A student can only achieve competence when all assessment components listed under procedures and specifications of the assessment section are Satisfactory. Your trainer will give you feedback after the completion of each assessment. A student who is assessed as NYS is eligible for re-assessment. Should the student fail to submit the assessment, a result outcome of Did Not Submit (DNS) will be recorded.

Based on Clauses 1.8 – 1.12 from the Australian Standards Quality Assurance’s (ASQA) Standards for Registered Training Organizations  (RTO) 2015, the learner would be assessed based on the following principles:

Fairness - (1) the individual learner’s needs are considered in the assessment process, (2)  where appropriate, reasonable adjustments are applied by the RTO to take into account the individual leaner’s needs and, (3) the RTO informs the leaner about the assessment process, and provides the learner with the opportunity to challenge the result of the assessment and be reassessed if necessary.

Flexibility – assessment is flexible to the individual learner by; (1) reflecting the learner’s needs, (2) assessing competencies held by the learner no matter how or where they have been acquired and, (3) the unit of competency and associated assessment requirements, and the individual.

Validity    – (1) requires that assessment against the unit/s of competency and the associated assessment requirements covers the broad range of skills and knowledge, (2) assessment of knowledge and skills is integrated with their practical application, (3) assessment to be based on evidence that demonstrates tat a leaner could demonstrate these skills and knowledge in other similar situations and, (4) judgement of competence is based on evidence of learner performance that is aligned to the unit/s of competency and associated assessment requirements.

Reliability – evidence presented for assessment is consistently interpreted and assessment results are comparable irrespective of the assessor conducting the assessment

Rules of Evidence

Validity       – the assessor is assured that the learner has the skills, knowledge and attributes, as described in the module of unit of competency and associated assessment requirements.

Sufficiency – the assessor is assured that the quality, quantity and relevance of the assessment evidence enables a judgement to be made of a learner’s competency.

Authenticity – the assessor is assured that the evidence presented for assessment is the learner’s own work. This would mean that any form of plagiarism or copying of other’s work may not be permitted and would be deemed strictly as a ‘Not Yet Competent’ grading.

Identifying International Marketing Objectives

Currency    – the assessor is assured that the assessment evidence demonstrates current competency. This requires the assessment evidence to be from the present or the very recent past.

• All documents must be created using Microsoft Office suites i.e., MS Word, Excel, PowerPoint
• Upon completion, submit the assessment via the student learning management system to your trainer along with the completed assessment coversheet.
• Refer the notes on eLearning to answer the tasks
• Any additional material will be provided by Trainer

Please read the following instructions carefully

• This assessment is to be completed according to the instructions given by your assessor.
• Students are allowed to take this assessment home.
• Feedback on each task will be provided to enable you to determine how your work could be improved. You will be provided with feedback on your work within 2 weeks of the assessment due date.
• Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge. You will be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit of competency.
• If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
• Please refer to the College re-assessment and re-enrolment policy for more information.

The learner is expected to provide research and analysis for a case study of their choice by examining areas such as:

• Evaluate the company’s current performance and environmental analysis
• Identify the company’s international marketing objectives
• Discuss what are the considerations of entering into an international country
• Develop a risk management strategy plan to address the company’s contingency plans
• Provide research for the company to determine what are the international marketing opportunities
• Discuss what are the culture and consumer preferences considerations in order to support the company’s international marketing plans
• Identify options for operational marketing structure that best fits international market and product or service.

1.Using the information you have gathered in Assessment Week 5, you now must create a 10-minute PowerPoint presentation for the company case to propose to senior management on its international marketing objectives. In addition, you are required to:

• Identify and agree roles, responsibilities and accountabilities of staff and contractors involved in all elements of marketing effort
• Develop communication strategy to ensure personnel responsible for each element of marketing mix work together to meet organisation’s marketing objectives
• Manage marketing effort to ensure it is directed towards areas

1.Company profile (includes name of company, background, vision & mission, business portfolio = total 4 slides to be inserted in the boxes below)

2.Business analysis (includes PEST analysis, SWOT analysis, current business performance, future business and performance gap/s identified = total 4 slides to be inserted in the boxes below)

3.Defining theompany’s strategic objectives (SMART Model)to enhance its international business profitability(1 slide) and discussing how risk management strategy would be used to support the international business objectives (1 slide).

4.Provide an understanding of the various factors in the international marketing (country governance, state of economy, trade barriers, local regulatory, consumer preferences, existing competition, technology factors, infrastructure and other risks = total 9 slides to be inserted in the boxes below)

5.Discuss the selection of a marketing approach and provide justification (1 slide) 6.Provide an evaluation of the importance of considering culture and consumer preferences(1 slide)

7.Provide justifications to the choice of compatible marketing structures to serve the company’s international market’s culture/ consumer preferences (1 slide) and an evaluation of how other competitor’s business performance is like (1 slide).

8.Identify stakeholders involved as well as their roles and responsibilities (1 slide) 9.Provide a communication strategy to ensure stakeholders are clear with the task objectives(1 slide)

10.Ensure that marketing activities are effective and effort is well directed (1 slide) 11.Discuss what are the promotional and sales activities (1 slide)

12.Ensure there is a “Any Questions?” slide and a “Thank you” slide

Visual Appeal There are no errors in spelling, grammar and punctuation. Information is clear and concise on each slide.

Visually appealing/engaging. There are some errors in spelling, grammar and punctuation. Too much information on two or more slides.

Significant visual appeal. There are many errors in spelling, grammar and punctuation. Too much information was contained on many slides.

Minimal effort made to make slides appealing or too much going on. There are many errors in spelling, grammar and punctuation. The slides were difficult to read and too much information had been copied onto them.

Considerations for Entering an International Market

Members showed complete understanding of assignment. Accurately answered all questions posed. Most showed a good understanding of topic.

All members able to answer most of audience questions. Few members showed good understanding of some parts of topic.

Only some members accurately answered questions. Presenters didn’t understand topic.

Majority of questions answered by only one member or majority of information incorrect.

Skills Regular/constant eye contact, The audience was engaged, and presenters held the audience’s attention.

Appropriate speaking volume & body language. Most members spoke to majority of audience; steady eye contact. The audience was engaged by the presentation.

Majority of presenters spoke at a suitable volume.

Some fidgeting by member(s). Members focused on only part of audience.

Sporadic eye contact by more than one presenter.

Speakers could be heard by only half of the audience. Body language was distracting. Minimal eye contact by more than one member focusing on small part of audience. The audience was not engaged.

Majority of presenters spoke too quickly or quietly making it difficult to understand. Inappropriate/disinterested body language.

Content The presentation was a concise summary of the topic with all questions answered. Comprehensive and complete coverage of information. The presentation was a good summary of the topic.

Most important information covered; little irrelevant info. The presentation was informative but several elements went unanswered.

Much of the information irrelevant; coverage of some of major points. The presentation was a brief look at the topic but many questions were left unanswered.

Majority of information irrelevant and significant points left out.

13.Discuss why is it important for international marketers to monitor the marketing mix in order to ensure they comply with market changes, marketing plan objectives and organizational requirements.

Product

(substitute products, relevancy to consumers’ lifestyle and expectations, etc.) As the customer culture is evolving continuously, the demand for a single product has become obsolete. Therefore, the organization has to understand the lifestyle and e3xpectation of the host country.

Pricing

(against competitors’ offerings, new product range, price discounts, seasonal pricing, etc.)

The economic stability of the host country is the biggest factor that decides the price of product which can be sold in the country

Placing

(are there sufficient stock to meet demands, delays in transportation, retailers’ performance, etc.) The organization has to understand the type of stock it can sell in a city or in a village of host country as economic and lifestyle differences matters.

Developing a Risk Management Strategy Plan

Promotions

(are marketing communication activities effective, do they comply with cultural norms, expectations, legislation, etc.) The organization has to review its promotional and advertisement processes so that it can be aligned with the culture of the host culture.

14.Discuss what are the various marketing metrics:

Consumption Everybody uses their products, as daily needs products are sold in Wal-Mart.

 They use retailer channel for the sales.

Sharing Customers are sharing the products and the frequency depend on the need of the customers

Lead generation The products are affecting lifestyle of the consumers as they are being sold in fewer amounts.

Based on Assessment Week 5, calculate the Return on Investment for the company’s international marketing venture $487.5 billion

15.Provide a discussion on why should companies analyze, review and revise international marketing outcomes and objectives

Profitability To understand the level of profit, all the above measures need to be understood as in host country profit can be achieved after many struggle

Allocation of resources The amount of resource needed to be allocated for the gain for certain profit, can be understood by those measurements

Effectiveness of marketing strategies These factors help to understand the success of current strategy, and what changes need to be done for further success.

Customer feedback Customer feedback is an integral part of the marketing outcome as the organization can directly understand the customer needs

Vendor feedback Vendor feedback is also important as their needs and security issues can also be understood with those factors

Cost-benefit ratios These factors helps the organization to evaluate its cost and benefits

Time and effort in promotional activities The time need to amend the changes and effort needed for promotional activities can also be decided using these factors

16.Explain how performance gap analysis is used to improve international marketing performance on the following:

Additional training Performance gap helps to understand the need for training in the employees, as these new employees are unable to match the level of base organizations employees.

Performance monitoring Performance gap helps the authorities to monitor the performances of employees who are unable to match the level of the organization and improve themselves.  

Allocation of additional resources Gap identified in this process indicates towards the absence of additional resources in the organization.

17.Why is it important for companies to consistently analyze changes in market phenomena?

Economic sustainability It is important to build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

Emergence of new trends It is important to understand the customer need and development is product profile

Environmental impact It is important as in this everyday evolving world, changes in environment can be harmful for humanity as well as for the company

Regional/ political tensions It is important as the local political problems can harm the organization that can lead to huge loss

18.Document review of marketing performance against key performance indicators in accordance with organizational requirements on the following:

Concise The key performance indicators help the organization to understand that how concisely the workers are working in the organization

Objective KPI decides the organization objective and every employee is following that or not is decided by the evaluation process  

Accurate information The marketing performance evaluation and KPI helps to understand the accurate information available about the company

Appropriate language KPI is helpful in understanding the appropriate language needed to understand the organizational requirement

Assessment Submission Checklist to be completed by the Trainer/Assessor

Did the student complete and provide evidence for the following: Yes No

1.Provide a presentation based on Assessment Week 5?

2.Provide short answers in managing and evaluating international marketing performance?

3.Submit within agreed timeframe?

4.1 Communicate international marketing objectives across the organisation to suit culture, customs, levels of knowledge, experience and needs of personnel

4.2 Identify and agree roles, responsibilities and accountabilities of staff and contractors involved in all elements of marketing effort

4.3 Develop communication strategy to ensure personnel responsible for each element of marketing mix work together to meet organisation’s marketing objectives

4.4 Manage marketing effort to ensure it is directed towards areas

5.1 Monitor product, pricing and distribution policies in relation to market changes, objectives of marketing plan and organisational requirements

5.2 Monitor overall marketing progress against performance targets to ensure activity, quality, cost, and time requirements are met

5.3 Analyse, review and revise marketing outcomes and objectives

5.4 Analyse successes and performance gaps as to cause and effect, and use to improve international marketing performance

5.5 Analyse changes in market phenomena, and identify and document their potential impact on international marketing objectives

5.6 Document review of marketing performance against key performance indicators in accordance with organisational requirements