BSBMKG516 - Profile International Markets Report - Management Assignment Help

Assignment Task

This task must be presented as a written report and aims to ask you to identify, through online research, the steps that need to be taken in exploring if a company has the ability for export readiness and to also identify the action to be taken in determining the selection of a suitable potential overseas market. The following criteria MUST be addressed and included in the report: **Note, for criteria 4 & 5 below, you will need to work together in small groups of 3-5. In your groups you will need to discuss and determine the sources of information that are suitable for their chosen businesses and proposed strategies. You will need to give each other feedback and provide clear viewpoints on the cultural appropriateness of the strategies you each intend to use to target their market.

1. You must write a short overview report to determine a business’s readiness to market products or services internationally. This report should be based on the ONE product selected in the category of fashion/sportswear.

2. The report should identify a checklist that clearly shows the steps on how a business (or company) should go about identifying the process for market readiness

3. You should identify documents (e.g. export/import) and criteria that support the business’ ability for export readiness

4. You must identify and document at least four (4) sources that the business will use to do their own assessment of market readiness. Ensure you use a mix of internal and external sources and explain how you will use them as part of your readiness strategy. E.g. import/export identification documents (i.e. Bill of Lading)**.

5. You must choose two (2) international countries to research and, using their sources of information, determine suitability for international markets and their culture. To do this, you should identify and evaluate what steps to take to determine suitability including the key cultural aspects that apply to the markets**.

6. You must choose ONE country and define their target market for this selected country. When defining the market, you must include the following information: a) selected market segment/s (i.e. prospective users/consumers) b) approaches to determining these segments c) at least (3) examples of cultural appropriateness, such examples include, and not limited to: Japan’s female wedding face-painting culture – or Running shoes limited editions.

7. You must analyse business readiness in relation to whether they will be importing/exporting for the chosen product for the business. In your conclusion, you need to specify whether you have selected to import or export their product, and why. You must identify marketing strategic options available, select preferred targeting strategy and explain how that meets the requirements of their organisation’s marketing plan.

8. You must also identify and summarise the legislation, relevant codes of practice (legal issues) and national standards applicable that may impact the readiness of the business they choose that is aiming to seek potential growth.

9. You must include information for any foreign affairs issues based on the current budget and statement for that period, which is available from the Austrade/DFAT portfolio budgets (see activity in week two notes for more information). In your answer, you must include information on identification of available funds to the market, meeting criteria for access to funds based on access rules and guidelines.

10. You will need to explain at least two (2) profiling techniques they used to collect profile-based data from your target market. In doing this, you will need to access information for customer relationship management (CRM), software programs and show how this supported the process.

Note, software programs may include CIA World facts book, Marketo automation, salesforce, BPsM or HubSpot. Data should be based on profile (descriptors) such as demographic, physiographic and geographic data. This information may be used to determine the profiles and techniques which must be identified and provide some written instruction on the selection process.

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