To demonstrate an understanding of the international marketing environment by identifying the critical areas of difference, using basic tools of environmental analysis, while appreciating the importance of international marketing to the world economy.
This assessment relates to the following learning outcomes:
LO1: Understand the international marketing environment: students should be able to identify the critical areas of difference in terms of international v domestic business environments and should be able to use basic tools to analyse these environments.
LO2: Identify international market opportunities: students should understand how the opening up of new markets internationally create both new opportunities and new challenges.
LO4: Appreciate the importance of international marketing to the world economy.
LO5: Analyse trends in international marketing.
LO7: Identify marketing opportunities in the Asia Pacific region.
Task 1. Relates to LO’s 1 & 4
- Critically analyse the differences between domestic and international marketing environments of your selected organisation using PESTLE analysis. (20 marks)
- Critically analyse the contribution of international marketing to the world economy. Your analysis must also include at least two contributing factors of your selected organisation. (20 marks)
Task 2: Relates to LO2
1. Apply and critically analyse one of the following theories of internationalisation to your selected organisation. Include discussion about the internationalisation process currently implemented by your selected organisation. (10 Marks)
- Foreign Direct Investment
- Stages Model
- The network Approach
- The Uppsala School of Thought
- Dunning Eclectic Approach
- The Internationalisation/ Transaction Cost Approach
- Product Life Cycle Theory
- Born Globals
2. Critically evaluate and discuss the benefits and challenges of the mode(s) of entry into international marketing adopted by your selected organisation. (10 Marks)
Task 3: Relates to LO 7
Read the following article and critically evaluate two emerging marketing opportunities in the Asia- Pacific region that may be beneficial to your selected organisation.
Doing business in Asia Pacific 2017-18
Within the next three years, Asia Pacific businesses will become more automated and more global. The PwC’s 2017 APEC CEO survey shows increasing business confidence for revenue growth over the next 12 months, as well as how businesses in this region are planning for the future. Business strategies in APEC will be driven mostly by advancing technologies such as 3D printing, machine learning, AI and robotics, as these will create different ways of working.
Despite the United States pulling out of the TPP agreement, the economic power of APEC is expected to grow exponentially, and China’s Belt and Road project will further increase integration within the region and increase foreign direct investment. Despite these positive developments, more restrictions and barriers to trade openness are expected in 2018.
This includes changes to immigration policies, restrictions on employing foreign labour and restrictions on receiving services across borders. To counteract these challenges, APEC businesses will need to rely increasingly on their existing and new foreign partnerships and bilateral ties.
With an increasingly complex business environment, the APEC workforce will become more automated and the region more integrated economically. However, trade barriers and automation will also restrict worker mobility.
The report also provides an in-depth outlook for specific Asia Pacific countries and markets over the next three years and is a vital read for everyone doing business in this region.