MKTG3060 INTERNATIONAL MARKETING

MKTG3060 INTERNATIONAL MARKETING

PURPOSE:

The purpose of this assessment is to assess student knowledge of the environmental influences and marketing strategies for international marketing. Students are to apply critical thinking and engage closely with course materials in developing this task.

DESCRIPTION:

Students are to develop a preliminary analysis of the product/firm that has been selected for the Group project – Cultural Analysis Report (Assessment 3 & 4).

The first task in International Marketing is to analyse the firm’s performance in the domestic country in which it is currently trading. Once this task is done, then the International Marketing strategy can be developed (this is the topic of Assessment 3 & 4). Students are expected to draw from marketing principles learnt in previous courses, review the course content for each week (weeks 1-7) and apply this content to developing your analysis.

Your task is to investigate the inner 2 layers of The Wheel of International Marketing that are concerned with the current domestic market: The HUB and the SPOKES [See Chapter 1 Figure 1.8 Fletcher & Crawford 2017]


Develop a written paper in 3 parts that covers the following content areas: PART A WHEEL OF INTERNATIONAL MARKETING

Explain the model Wheel of International Marketing and how it can be used as a tool for International Marketing. You are to analyse the 2 layers of the ‘Hub’ and the ‘Spokes’ in this assessment task. These two layers are relevant to the initial analysis of the firm’s readiness to export and developing an export strategy (this is to be examined in Assessment 3 & 4)

PART B THE HUB

Research and Analyse the Firm and the Product offering that has been selected for the Group Report (Assessments 3 & 4). In doing so you are expected to develop an analysis of the following topics:

o Firm Analysis: What kind of firm are you analysing? In answering this you will need to characterise the type of firm it is. Structure and brief history of the firm

o Product Situation Analysis (Domestic) [FIRM ENVIRONMENT (CONTROLLABLES)]

  • ▪   A detailed analysis of the product according to the categories in the Hub of the Wheel of

    International Marketing [the existing strategy of the firm in marketing the product]

  • ▪   You may want to view this as the core product and any secondary or supporting services

    or products that the firm sells.

    PART C THE SPOKES

o Industry the firm is operating in [COMMERCIAL FORCES (UNCONTROLLABLES)]

  • ▪   Your task here is to s analyse the nature of the market forces it issues against the firm and

    its product.

  • ▪   To analyse the competitive situation identify the main competitors and determine how they

    compare to your business, consider aspects such as competitive advantages.

    o Trading environment [ECONOMIC CLIMATE (UNCONTROLLABLES)]

    • ▪   Domestic trading environment

    • ▪   Do they currently export their product/product range? What is their mode of entry into the International market (if any)?

o Regulatory Environment - [POLITICAL/LEGAL FORCES (UNCONTROLLABLES)] ▪ Domestic political/legal environment




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