05 Jun EXPLAIN WHY FIRMS DEVELOP INTERNATIONAL MARKETING, AND PREPARE A PESTEL ANALYSIS OF A CHOSEN FOREIGN MARKET FOR IDENTIFIED PRODUCTS/SERVICES.
Explain why firms develop international marketing, and prepare a PESTEL analysis of a chosen foreign market for identified products/services.
Assume that you are the Entrepreneurship and Innovation Manager with responsibility for International marketing of a selected organisation. You have been asked to prepare a report to explain the role of international marketing to other managers in your organisation.
Task 1
Explain why firms develop international marketing, and prepare a PESTEL analysis of a chosen foreign market for identified products/services.
Generate ideas for an innovative product or service. Focus on the following key steps:
o Idea generation, opportunity evaluation with SWOT analysis
o Market research for the new idea and new product/service planning
Devise an outline marketing plan for a foreign market. Your plan should include your objectives, the marketing mix, and consideration of relevant ethical and environmental issues.
Task 2
Evaluate international marketing research techniques for a chosen market, and explain methods your choice of for entering that market. Your response should show consideration of:
o The choice of distribution channels for export of identified products/services
o Analysis of how foreign investment decisions are made.
Identify, then evaluate a target market for the new product (see task 1) and select an appropriate market segment.
Construct a sound business proposal for the new product/service.
Individually, or in groups, prepare and deliver a presentation for a business pitch for the new product/service.
Task 3
Carry out an environmental audit of a selected organisation and evaluate its strategic position, using PESTEL and 5 Forces analyses.
Assignment Word Count
Task 1 1500 words
Task 2 Presentation, with notes, maximum 20 slides
Task 3 1000 words
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