Reference no: EM132112528
Evaluate international marketing opportunities
Activities
Complete the following activities individually or in a group (as applicable to the specific activity and the assessment environment).
Where applicable, a signed observation by either an approved third party or the assessor will need to be included in these activities as proof of completion.
Activity 1A
Objective To provide you with an opportunity toassess international trade patterns and identify their likely importance for the business.
Activity 1. What are the current international trade patterns in your industry and how do these affect your business?
2. Briefly describe how a recession might negatively affect global demand and the economy.
Activity 1B
Objective To provide you with an opportunity toresearch international business and electronic commerce market factors, and assess opportunities to enter, shape or influence the market for their likely contribution to the business.
Activity Choose a country that you may potentially want to enter (in terms of marketing).What international business and electronic commerce market factors may affect your ability to enter, shape or influence that market (and how)?
Activity 1C
Objective To provide you with an opportunity toidentify international markets operating under free trade or protectionist arrangements and estimate likely ease of entering and trading successfully.
Activity 1. In no more than 250 words, describe what free trade and protectionist agreements include.
2. Give three examples of countries with free trade arrangements and three with protectionist ones.
Activity 1D
Objective To provide you with an opportunity to identify international trade policies and agreements and estimate their likely impact on international marketing opportunities.
Activity 1. Briefly explain the following:
- Customs unions
- Bilateral trade agreements
- Multi-lateral trade agreements.
2. Name at least two effects these might have on international marketing opportunities.
Activity 2A
Objective To provide you with an opportunity toidentify and analyse impact of economic, political, social and cultural factorsaffecting international marketing opportunities.
Activity 1. For the country that you may potentially want to market in (from Activity 1B), what are the economic, political, social and cultural factors that may affect international marketing opportunities in it? (Maximum one page).
2. Briefly describe any software applications your organisation uses in its international electronic commerce operations. How might these need to be adapted to suit different markets?
Activity 2B
Objective To provide you with an opportunity toinvestigate international market trends and developments to identify market needs relevant to the business.
Activity For your industry, what are the current international market trends and developments? How do these affect your market needs, relative to the business?
Activity 2C
Objective To provide you with an opportunity to identify new and emerging business and electronic commerce markets, and assess opportunities to enter, shape or influence markets based on their fit with business goals and direction, and their likely contribution to the business.
Activity 1. Which of the emerging economies would be best suited for you to market in (for your industry)? Explain.
2. Give an example of the communication considerations for five countries.
Activity 3A
Objective To provide you with an opportunity toanalyse and rate acceptability of political, financial stability and corruption risk factors of potential market.
Activity For the potential market identified in Activity 1B, what are the political, financial stability and corruption risk factors? How will these affect your ability to market in this country?
Activity 3B
Objective To provide you with an opportunity toanalyse and rate acceptability of legal and regulatory requirements, and trade barriers to potential market.
Activity 1. Outline the following, for your potential market identified in Activity 1B:
- Anti-discrimination legislation
- Consumer laws
- Ethical principles
- Extra-territoriality provisions of the trade practices act
- Foreign investment limits
- Labour laws
- Legal aspects of bilateral and multi-lateral trade agreements
- Privacy laws
- Taxation laws
- World Trade Organization (WTO) dispute resolution system.
2. Outline the Australian Standards for:
- Environmental matters
- Human rights
- Labour relations
- Packaging
- Risk management.
3. Briefly explain the following and what they do:
- Organisation for Economic Co-operation and Development (OECD) International Guidelines for Consumer Protection in the Context of Electronic Commerce
- Australian Government Policy Framework for Consumer Protection in Electronic Commerce
- Australian Guidelines for Electronic Commerce.
Activity 3C
Objective To provide you with an opportunity torelate risk factors to international business cycles in terms of economic conditionsand estimate their impact on potential market.
Activity Outline how economic conditions affect potential markets you may be looking to market in.
Activity 4A
Objective To provide you with an opportunity toidentify and analyse international marketing opportunities according to their likely fit with the organisation's goals and capabilities.
Activity 1. Name at least three possible organisationgoals for entering a new market.
2. State five factors you need to look at when analysing a potential market.
3. Briefly describe which information systems you need to look at when analysing a potential market.
Activity 4B
Objective To provide you with an opportunity toevaluate each opportunity to determine its impact on current business and customer base.
Activity For the marketing opportunity identified in Activity 1B, name at least eight possible impacts it may have on your current business and customer base.
Activity 4C
Objective To provide you with an opportunity touse an assessment of costs, benefits, risks and opportunities to determine financial viability of each marketing opportunity.
Activity Conduct SWOT and PEST analyses for the marketing opportunity identified from Activity 1B.
Activity 4D
Objective To provide you with an opportunity todetermine probable return on investment and potential competitors.
Activity 1. Outline a formula for calculating return on investment.
2. Give at least three reasons why you must analyse your potential competitors. How would you do this?
Activity 4E
Objective To provide you with an opportunity todescribe and rank marketing opportunities in terms of viability and likely contribution to the business.
Activity 1. Briefly explain the ranking by merit system.
2. Name at least six factors you need to consider when weighing up the viability of marketing opportunities.
Summative Assessments
The summative assessments are the major activities designed to assess your skills, knowledge and performance, as required to show competency in this unit. These activities should be completed after finishing the Learner Guide. You should complete these as stated below and as instructed by your trainer/assessor.
Skills, knowledge and performance may be termed as:
- Skills - skill requirements, required skills, essential skills, foundation skills
- Knowledge - knowledge requirements, required knowledge, essential knowledge, knowledge evidence
- Performance - evidence requirements, critical aspects of assessment,performance evidence.
Section A: Skills Activity
The Skills Activity is designed to be a series of demonstrative tasks that should be assessed by observation (by the assessor or third party, depending on the circumstances).
It will demonstrate all of the skills required for this unit of competency - your assessor will provide further instructions to you, if necessary.
Section B: Knowledge Activity (Q & A)
The Knowledge Activity is designed to be a verbal questionnaire where the assessor asks you a series of questions to confirm your competency for all of the required knowledge in the unit of competency.
Section C: Performance Activity
The Performance Activity is designed to be a practical activity performed either in the workplace or a simulated environment. You should demonstrate the required practical tasks for the unit of competency and be observed by the assessor and/or third party, as applicable to the situation. If the third party is required to observe you, you will need to make the required arrangements with them.
If necessary for the activities, you should attach completed written answers, portfolios or any evidence of competency to this workbook.
Section A: Skills Activity
Objective: To provide you with an opportunity to show you have the required skills for this unit.
A signed observation by either an approved third party or the assessor will need to be included in this activity as proof of completion.
This activity will enable you to demonstrate the following skills:
Reading
- Researches and analyses a range of textual information from a variety of sources to identify key details and determine relevance to strategic organisational requirements
Writing
- Records results of research and analysis using language and format appropriate to organisation and purpose
Numeracy
- Performs complex mathematical calculations to analyse trend data, business development opportunities andcost-benefit analyses
Navigate the world of work
- Keeps up-to-date with legislation or regulations relevant to own rights and responsibilities and considers implications of these when negotiating, planning and undertaking work
- Understands and adheres to organisational policies and objectives
Get the work done
- Uses logical planning processes, and an increasingly intuitive understanding of context, to identify risk factors, and to evaluate alternative strategies and resources
- Makes a range of critical and non-critical decisions in relatively complex situations, analysing information and taking a range of factors and constraints into account
- Recognises potential of new approaches, including new technologies, to enhance work practices and outcomes
Answer the activity in as much detail as possible, considering your organisational requirements.
1. Identify, gain access to, read and understand three different sources of information on a current industry trend relevant to your role (e.g. trade magazines and journals, newspaper articles, websites, blogs, statistics and data, books, legislation, etc.)
Summarise the most interesting and relevant information and create a one-page handout that could be given to colleagues as reference material.
Attach your handout to your workbook.
2. Outline a formula for calculating return on investment.
Using real data from your role and/or workplace, give working examples of this formula with short explanations of each step.
If you do not have access to real data then your assessor will provide you with an example of a previous international marketing plan. Pull the data from this document and create a working example for your formula.
Attach your notes to your workbook.
3. Identify a piece of legislation or a regulation that is key to your role.
Write a short report (maximum two pages) covering the following points:
- How do you keep up-to-date with this legislation/regulation?
- Have there been any recent changes and/or amendments?
- How does it impact on your role?
- What do you have to consider when negotiating, planning and undertaking work?
- How do you ensure you are following this legislation/regulation?
Attach your report to your workbook.
4. Your assessor will provide you with information sources on countries and markets being considered for entry. Choose one country and market to work with.
Create an action plan (maximum three pages) to evaluate the potential success of your chosen country and market.
You should cover the following points:
- Any risk factors with the country and/or market
- Alternative strategies
- Economic, political and cultural considerations
- Possible technology that could be incorporated
- Any technological or communicational restraints
- Any other relevant considerations.
Your action plan should show a general overview of entering your chosen country and market.
Section B: Knowledge Activity (Q & A)
Objective: To provide you with an opportunity to show you have the required knowledge for this unit.
The answers to the following questions will enable you to:
- Outline relevant Australian and international standards, policies and guidelines, including those covering:
o environmental matters
o human rights
o labour relations
o packaging
o risk management
- Identify electronic commerce
- Identify and explain key provisions of relevant legislation and codes of practice affecting aspects of marketing operations
- Explain the role of the Organisation for Economic Co-operation and Development (OECD)
- Identify and describe key features of the country or countries being considered for market entry or penetration, including:
o cross-cultural communication and negotiation styles
o global andcountry-specificeconomic, social and industry directions, trends, practices and techniques.
Answer each question in as much detail as possible, considering your organisational requirements for each one.
1. Identify concerns that are covered by Australian and international standards, policies and guidelines for the following areas (state at least two for each):
- Environmental matters
- Human rights
- Labour relations
- Packaging
- Risk management.
2. Name at least five functions you might need to use software applications for when exploring international marketing opportunities.
3. Identify six key provisions of relevant legislation you need to consider when exploring potential new markets.
4. Briefly explain the role of the Organisation for Economic Co-operation and Development (OECD) and identify five different aims that the guidelines encourage.
5. Identify five considerations in differences in meaning when communicating across countries.
6. Give two relevant questions to ask yourself for each of the following factors when considering a country for market entry:
- Economic factors
- Political factors
- Social and cultural factors.
Section C: Performance Activity
Objective: To provide you with an opportunity to demonstrate the required performance elements for this unit.
A signed observation by either an approved third party or the assessor will need to be included in this activity as proof of completion.
This activity will enable you to demonstrate the followingperformanceevidence:
- Document and present an evaluation of various international marketing opportunities including:
o analysis of global business environment
o assessment of social, cultural, political and economic factors impacting selection of market opportunities
o risk assessment for each opportunity considered
o analysis of financial viability of selected international marketing opportunities.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Answer the activity in as much detail as possible, considering your organisational requirements.
1. Create a step-by-step guide for evaluating international marketing opportunities (maximum eight pages).
The guide should cover the following topics:
- Reviewing the global market environment
- Assessing international business and electronic commerce market factors
- Identifying risk factors for international marketing opportunities
- Investigating international business and electronic commerce marketing opportunities.
The guide will need to be concise and adaptable, so it can be used as a template for all potential markets.
The guide can contain diagrams, charts and tables to help explain things more clearly and can also include references to external sources of information.
Attachment:- Evaluate international marketing opportunities.rar