Assessment Item 1: Market Entry Analysis (35%)
(Individual Assignment*) – 1500 words Due Monday 5th September
The purpose of this assignment is for students to analyse the potential internationalisation of an Australian product to a foreign market. Students must analyse the two foreign markets provided and choose the appropriate country to enter, as well as provide justification for the country selected based on environmental, market, growth and consumer behaviour factors.
* This is an individual assignment, however students are encouraged form their groups for Assignment 2 and to collaborate with group members as preparation for their approach in assignment 2.
Assessment instructions (suggested structure):
You are the international marketing manager for Trisco Foods Precise liquid range https://precisethickn.com.au/
You have been advised by the board of the company that they wish to expand the company’s operations internationally and would like to explore the options of entering either Country A or Country B. Your task, as the international marketing manager is to recommend which country/markets should e selected and why (based on a market entry analysis, see below for instructions).
1. Executive Summary:
o Provide an overview of the main findings of your report, including key recommendation/s.
2. Company Background:
o Briefly describe the company’s existing target segment and marketing mix, and identify the product’s main source of competitive advantage in Australia.
3. Situation Analysis:
o Analyse the firm using a SWOT analysis framework: Analyse the firm’s internal strengths, weaknesses, and external opportunities and threats.
4. Market Analysis:
o Analyse the two countries provided using a CAGE framework. The CAGE framework should assess the cultural, administrative, geographic and economic distance between countries. The CAGE framework allows for the comparison of markets allowing managers to pinpoint key differences across countries that may handicap internationalisation.
o The CAGE framework should be conducted between countries, to allow for a comparison. It is up to you how you choose to present this data; however, the analysis should include comparisons between the two countries
o Also, consider other important characteristics of the host environment, such as market characteristics, consumer behaviour, sustainability, relevant competition, and growth opportunities in the countries.
5. Ethical Considerations:
o Identify and evaluate any pertinent environmental and ethical considerations. Consider the UN SDGs (sustainable development goals), CSR (corporate social responsibility) and underlying ethics theories in relation to these issues. This analysis should include comparisons between the two countries.
o Select the country that is the most appropriate fit for the chosen product or service.
o Justify the decision of your chosen country using your previous findings and any relevant international marketing theories.
Professional Communication Notes:
o The market entry analysis preliminary report must be written individually in no more than 1500 words (not including the executive summary, in-text references, and the reference list and appendix). Note, the appendix should only be utilised for information that is essential to the body of the report. The appendix will not be counted towards the grade.
o This report is an academic piece of work and is expected to comply with an accepted academic referencing convention (APA or Harvard).
o Ensure your report has been edited and contains no errors with grammar, spelling and/or punctuation.
o Please ensure you provide a cover-page for your assignment, listing your name and student number.
o The assignment must be uploaded to Blackboard at Turnitin by 11.59 pm Monday 5th September 2022..
Databases for the Collation of Industry Data:
You can use several databases to start (see below). These will be your primary information source to help you justify your country selection, profiling your country, identifying competitors and segmenting your market. Appropriate databases include:
o GMID: Global Market Information Database (GMID). This database Provides access to country statistics, market reports, company information, economic information as well as industry information from over 200 countries worldwide.
o EUI: Country data. Produced by The Economist Intelligence Unit (EUI), publishers of The Economist, this service is an analytical database of worldwide economic indicators and forecasts. EIU Country Data gives you access to 317 series on 150 countries and 45 regional aggregates, running from 1980 and forecasting out five years.
o Marketline. This business intelligence tool furnishes valuable global business information for 2,000 industries, 10,000 companies, and 50 countries, as well as news and commentaries.