Chapter 12 Assessing International Markets

I would like to start off with grocery items, I’ve been observing these pass couple of days. Known as two different sizes of shrimp and sauce mix – ins which you can use for meats or other items. As I observed the items, I noticed large shrimp depending on the brand sold in Walmart will differ where the product came from. For example, I observed the large bag of shrimp in which was labeled “SHRIMP” nothing unique, but it was distributed to Walmart and product of Thailand. I researched a few key points to understand why this certain product was being imported into the U.S. I found out that the U.S shrimp imports were up 18.70 % and it also increased in India in which was my second product I picked known as the extra – large shrimp. The total

The foreign market must offer a location advantage that makes it profitable to produce the product in the foreign country rather than simply produce it at home and export it to the foreign market. It includes resource endowments, economic and social factors, such as market size and structure, prospects for market growth and the degree of development, labour and input materials costs, the cultural, legal, political and institutional environment, government legislation and policies

DQ 1: Summarize the most important benefits and risks associated with diversification into global markets.

A firm 's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood.

International trade is believed by economists to be good for both countries involved. It promotes financial and economic growth throughout the world. It creates jobs, sustains economies, improves standards of living, promotes competition, lowers prices, and strengthens the bond between nations. In 2012, approximately 4.9 million people were directly or indirectly holding jobs that were associated with the production of goods and services sold to other countries (cite). Many of these jobs are manufacturing jobs that produce large amounts of products to sell to other countries. This is called an export. Export sales help maintain high levels of employment by breaking down barriers of unfair taxes. With opportunity to buy product from other countries, prices remain competitive.

3. Identify and use criteria to determine suitability of the international market based on criteria included in the Marketing Plan and/or included in country profiles on the TTNQ web site. Then based on these criteria, discuss which of the 2 countries that you have researched offers the offers the best potential for TTNQ? Why? Which factors were important in making your decision?

Include a list of information sources that you used and a brief summary of the information provided.

Include a list of information sources that you used and a brief summary of the information provided.

2. Your Assessor may want to discuss written answers with you to get further evidence of your understanding and to check that it is your original work

I agree that international markets have changed over time due to technological advances. With these advances we have immediate access to a large amount of information. This changed how we work and led to a solid international trade with financial links. People, businesses, and countries were brought closer with the introduction of the Internet and created a new era of communication. Technology also accelerated globalization as countries became more independent with the increase in cross border movement of goods, services, capital and labor which led to cultural diffusion. Technology has brought so much to the table; sanitation, medical technology and vaccinations, which helped us, have longer life expectancies. What do you think the future

Tourism trend within selected country 1 South Korea: there are positive trends within South Korea tourism industry. The main competition areas lie in business operating overheads, high costs of tourists carrying, unstable petrol costs and high labor costs from the international competitors.

1. To qualify as a multinational corporation, a firm must meet all of the following criteria except:

There are always business risk when it comes to expanding a company, especially from an international standpoint. There are many strategic risk that needs to be evaluated in order to expand the company successfully. Examining the possible risk of foreign currency exposure, basic functions of international banking/financial market, support of long term financing of operations, and assessment of opportunities that can be implemented within the company. There are risk on three dimensions of international finance, economic trends of the country, impact of globalization and monetary system. All of these situations will be discussed in this paper.

The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.

Measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. For growth to be optimal, management must first be able to identify the most attractive prospective leads. The country as a whole, specifically geography, government, and financial aspects must be looked at in order to yield the best possible picture of the market a company wishes to enter. Concentration should be placed on gathering reliable facts