- The firm’s strong point and flaws and also approvals for addressing resource deficiencies and other weaknesses.
- The suitability of the firm’s yields and services, to the foreign market. Here, the suitability of the products and services to international customers is determined.
Potential markets to a product
- Retailers
- The government
- International community
Information could be gathered from
- Print-this occurs in paper works such as newsletters, microfiche, books, periodicals, magazines, newspapers among others
- Televisions and radio media. This includes advertisements.
- Online information. This involves the use of the internet and search engines.
Examples of international market intelligence
- I have gathered the international business marketing
- Market collection decision
- Entry and operating choice
- Market mix verdict
- Organization decision
Commercial services available
- Online and modified market research
- Providing market intelligence
- Individualized trade analysis and advocacy
Selecting a good international market to be involved
- If there exists competitors working within the designated country.
- The history of goods and services establishment within the selected country
- Trade way and availability of transport to the destinations.
- Abilities, interests and partialities of own organization.
Approaches to determine and describe the total market within the selected countries.
- First, the profitability of the business.
- Flexibility of the business.
Target market is the group of buyers that the business or organization has decided to aim its selling exertions and eventually its products. Selected market segments involves market mixing for different kinds of segments
Market strategic options include
- Exporting
- Licensing
- Franchising
- Multi-country strategy
- Global strategy
- Strategic alliances. Those that meet the requirements of the marketing plan are Licensing, Franchising and exporting. Licensing to participate in international trade is vital. The franchising and the use of the firm’s name are appropriate. Lastly, the firm produces products and holds the rights to export products.
Demographic descriptions include age, sex, education, marital status, occupation among others. Psychological descriptions, on the other hand, include activities, interests, and opinions among others. The above descriptions will alter the organization’s choice of the market. For instance, some products might be targeted to the large market while others are targeted to a specific segment.
Methods to ensure profile meet organizational requirements
- Ensuring the image of the organization is positive
- Ensure that the services provided are of quality
- Ensure the values are followed and adhered to
Available positioning strategies
- Image insight
- Respect and high-class positioning
- Value positioning
- Repositioning
- Service positioning
The organization should ensure that its image is clear and a positive one at the eye of the public. The name of the organization should also be affirmative. The organization should also have respect in the market by its competitors and its consumers. An organization should have goals and values to govern it.
PART II
Core activities, customer base and business values
A business should have core activities used to direct the organization to its main essential activity. They include the market-sensing procedure, the new-offering awareness process, and the customer achievement process among others. The business put in measures to ensure proper treatment of handling of customers
Current international market performances include organizational buying conduct, international negotiations, consumer behavior and country of origin. For business to take place the above market performances must be stressed.
Reviews from all areas of business
Customers performed well. There was regular flow of products into and out of the country. The production part, inclusive of workers from all the departments also met their production threshold. Licenses for businesses to other countries were provided. The only weakness is the mode of transport from the factory to the airport. The efficiency of the transport was not up-to standard.
Current capabilities of resources
Under-performing products
The underperforming products exist in the international market. They include OPC cement comparing to other brands. The company will, therefore, withdraw the product. Other brands are faring well and, therefore, will continue to be supplied. However, the area that require improvements include packaging and quality of the product
Trends having an impact on business international activity
The signing of an agreement between foreign countries and the have vastly increased the exports. This is whereby there is no taxing of the products being exported
Potential opportunities
- Opportunities include exploiting and ensuring supply of products to new areas.
- Secondly, use the chance whereby the export taxes are not paid.
- Manufacture a product different from ones that already existed.
Sources of intelligence
- Natural knowledge.
- Opinions from others.
- Researching deeply.
- Carrying interviews with customers.
Forecasting technique
- Delphi Technique
- Scenario Writing
- Subjective approach
- Time-Series Forecasting
The methods above have justified to the emerging opportunities I had mentioned.
Ethical constrain emerges from corruption, bribery, poor governance among others. For the international market to become effective, the above should be eliminated.
PART IV
Promotional activities
- Advertising
- Personal selling/telemarketing
- Publicity
- Direct marketing
Scheduling promotional activities
- March-May, direct marketing.
- May-July, personal selling.
- July-December, Publicity.
People to approve my plan
- The ministry of trade.
- The revenue authority.
- Anti-corruption requirements
- Complying with export controls
- Networking individuals in the international trade.
- Attracting a youthful and varied population to business.
- Supporting present international business actions.
- Educating individuals on international trade opportunities.
Ways to get feedback from promotional activities
- Employees
- Comment card
- Competitions
- Customers
- Documentation and records
Impacts of promotional materials
Customers to the industry increase which means the demand of the product increased. This shows that the promotional activities were effective.
Assessing the effectiveness of the promotional methods
Since adopting advertising, the demand of the product has risen. Initially, publicity was used, but the customer’s feedback was not as high as now. I would propose again using advertising.
Analyzing cost and time lines
The most common promotional channel is advertising. However, with the extra cost incurred, the demand of the product also rose.
In conclusion, promotional methods are effective if employed in the right situation. Promotions maybe expensive at times, but it are worth the cake as it will reflect the positive image of the company and also increase profit to the industry.
