[SOLUTION] Global Interconnectedness

Global Marketing EnvironmentThis competency assessment assesses the following Outcome:MT219M2-2: 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 et al., 2021). 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 in a country of your choice outside the U.S. 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 in a minimum 10-slide Microsoft® PowerPoint® presentation with audio and audio notes.Checklist:Step 1: Cultural FactorsIdentify 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 Consultants’ 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 FactorsIdentify 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 why these demographic factors are opportunities or threats to entering this market.Step 3: Economic FactorsAccess The World Factbook from the CIA and select the country of choice in the upper right hand corner search box.Identify these three economic factors in the country you are pursuing: GDP per capita (see the “Learn”: reading resources area), GDP growth rate, and the unemployment rate in your chosen country.Explain why these economic factors are opportunities or threats to entering this market based on the country you chose.Use bulleted points to make your main points (3–4 bullets per slide) and then explain those bulleted points in the notes section directly under the slide. Adding the audio necessitates having either a built-in microphone in your computer or a headset with microphone to record the audio portion. Access instructions for adding audio to your presentation.Step 4: Political/Legal Forces-Go to the World Bank Group’s “Doing Business” website and note the “Ease of Doing Business” ranking-Then go the World Economic Forum’s website for “country and regional trends from the NRI”.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 ForcesExplain how your country’s 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 FactorsUsing 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: SummaryBased 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).Use bulleted points to make your main points (3–4 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.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.Save your audiovisual presentation (Example: TAllen-MT219M2.pptx), and then submit it to the Dropbox.Step 1: Cultural FactorsAccess Commisceo™ Global Consultants’ country cultural factors. Once you enter a country, scroll all the way down to see all the country information (you do not have to download it).Step 2: Demographic FactorsAccess demographic data at the U.S. Bureau of the Census: International database. (Go the main site, then do a search for “International database” and this database should come up.)Step 3: Economic FactorsAccess The World Factbook and select the country of choice in the upper right hand corner search box.Step 4: Political / Legal Forces-Go to the World Bank Group’s “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.-Go the World Economic Forum’s 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).Step 5: Technological FactorsIdentify the ranking of networked readiness for your country (1 = most networked) on the World Economic Forum website.Step 6: Geographical FactorsUse the CIA World Factbook sourceStep 7: SummaryRecord the audio portion                                                ReferencesCommisceo Global Consultancy (2017). Country guides. https://www.commisceo-global.com/resources/country-guidesLamb, C. W., Hair, J. F., & McDaniel, C. (2021). MKTG13: Principles of marketing. Cengage.U.S. Central Intelligence Agency. (2018). The world factbook. https://www.cia.gov/the-world-factbook/U.S. Department of Commerce (2018). International programs. U.S. Bureau of the Census. https://www.census.gov/data-tools/demo/idb/#/table?YR_ANIM=2021&menu=countryViz&COUNTRY_YEAR=2021&dashPages=DASHWorld Economic Forum. (2021). The global information technology report 2016. https://www.weforum.org/reports/the-global-information-technology-report-2016

 

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[SOLUTION] Global Interconnectedness
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