Examine global interconnectedness as it applies to marketing.
Examine global interconnectedness as it applies to marketing.
Organizations interested in pursuing global markets must consider the external environment. Many of the same environmental forces that relate to domestic markets also apply to global markets (Lamb, Hair, & McDaniel, 2018). You will look at the global marketplace in which, thanks to the Internet, even small companies can participate. The external marketing environment is full of opportunities and threats that can have a profound effect on the success or failure of a company, a brand, or a product in the global marketplace.
In this Assessment, you will practice scanning the global marketing environment (i.e., environmental analysis) for opportunities or threats to expansion I a country of your choice for Persimmon Bakery as the owner.
Scenario: You are the owner of Persimmon Bakery, which is currently located in the city closest to where you live. You specialize in breads and sweets from many different countries and now have operations in eight regions of the U.S. You realize the market has become saturated in the U.S. At a recent international trade show, you were surprised at how many requests you received to license or franchise your concept in other countries.
Your task is the following:
Based on the scenario, identify another country outside the United States to research and determine the feasibility of entering this foreign market for Persimmon Bakery as the owner by addressing the checklist items.
Step 1: Cultural Factors
Identify several cultural factors in the country you are pursuing that may affect market expansion of the bakery, such as: behavior patterns, the concept of time, lifestyle, etc. You can use Commisceo Global Consultancys website to research country cultural factors.
Considering these cultural factors, do you see them as possible opportunities or threats to entering this market? Please explain your response.
Step 2: Demographic Factors
Identify at least four (4) demographic factors in the country you are pursuing such as education, the size, growth, density, and age of the population, etc. Use the U.S. Census International database as a source of reference for the demographic information. It allows you to look up data by country and years.
Explain whether these demographic factors are opportunities or threats to entering this market. Please explain your response.
Step 3: Economic Factors
Access The World Factbook from the CIA and select the country of choice in the upper right hand corner search box.
Identify these economic factors in the country you are pursuing: GDP per capita (see the Reading area), GDP growth rate, and the unemployment rate in your chosen country.
Explain whether these economic factors are opportunities or threats to entering this market based on the country you chose. Please explain your response.
Step 4: Political/Legal Forces
-Go to the World Bank Groups Doing Business website and note the Ease of Doing Business ranking (1= easiest) and Starting a Business (1= easiest) and Registering Property (1= easiest) for your chosen country.
-Then go the World Economic Forums website for country and regional trends from the NRI, scroll down to Table 2, and note the ranking of the political and regulatory environment by country (1 = best environment).
Provide the four rankings for your chosen country.
Explain whether these political/legal considerations represent opportunities or threats to entering this market. Why?
Step 5: Technological Forces
Identify the ranking of networked readiness for your country (1 = most networked) on the World Economic Forum website.
Explain how your countrys networked readiness ranking will present an opportunity or a threat to the success of Persimmon Bakery in the country that you chose. Why?
Step 6: Geographical Factors
Using the CIA World Factbook source, explain whether geographical factors are possible opportunities or threats to entering this market, considering distribution of your product. Please explain your response.
Step 7: Summary
Based on your analysis, explain whether you would pursue expansion into your selected country for Persimmon Bakery abroad. Why, or why not?
Describe the advantages and disadvantages of one (1) of the following means of expansion for the bakery regardless of your decision to expand into the country market or not: exporting, licensing, franchising, or joint venture (see the Learning Activity).
Directions: Adding the audio to your PowerPoint presentation necessitates you having either a built-in microphone in your computer or a headset with microphone to record the audio portion.
Use bulleted points to make your main points (34 bullets per slide) and then explain those bulleted points in the notes section directly under the slide. Provide a minimum of 10 PowerPoint slides with audio and audio notes and an additional title and references slide. Your PowerPoint should be original and submitted to the Dropbox before the end of the unit.
Save your audiovisual presentation (Example: TAllen-MT219M1.pptx), and then submit it to the Dropbox.
Access the MT219M2 Assessment rubric.
Minimum Submission Requirements
Your presentation should be the required number of PowerPoint slides as specified, with an additional title slide and reference slide using APA format.
Respond to all of the checklist items in a thorough and highly organized, logical, and focused manner using Standard English and demonstrate exceptional content, organization, style, and grammar, and mechanics.
Your Assessment response should comply with all instructions provided.
Your presentation should provide a clearly established and sustained viewpoint and purpose. Each slide should have no more than 45 bulleted points and the notes section below each slide should provide detail regarding the bulleted items.
Your presentation should be well ordered, logical, and unified, as well as original and insightful.
Be sure to cite both in-text and reference list citations where appropriate and reference all sources using proper APA citation style.
If work submitted for this competency assessment does not meet the minimum submission requirements, it will be returned without being scored.