International Market Analysis
- Form a team (same for Asm 3)
- Choose a brand & top countries that are potential for this brand to launch in (01 country/ mem)
- Conduct Macro environment analysis & Competitor analysis
- Conclude the challenges, threats, vulnerabilities when the brand enters this market
- Propose standardizations and adaptations for brand launch
Suggested structure
I/ Introduction
II/ Macro environment analysis
- Economic-Geographic environment
- Social-Cultural environment
- Political-Legal environment
III/ Micro environment analysis: Competitor analysis
IV/ Evaluation
- Core issues
- Standardization suggestions
- Adaptation suggestions
Overall assessment:
- Leverageable strengths: Strengths that can be useful in the new country's environment.
- Brand vulnerabilities: Weaknesses that will be exposed to threats in the new country's environment.
- Opportunity assessment: Market attractiveness for this brand in the new host country.
Macro environment: the set of conditions that exist in the economy as a whole, rather than in a particular sector or region.
- Economic-Geographic environment: climate, natural resources, topography, GDP, inflation, interest rates, currency value (exchange rates), personal income, etc.
- Social-Cultural environment: religion, languages, beliefs, customs and habits, demographic trends, etc.
- Political-Legal environment: laws, government agencies, tariffs and other taxes, foreign exchange controls, ownership restrictions, etc.
Micro environment: the environment which is in direct contact with the company and affects the routine activities of business straight away.
Core issues:
- Challenges: Inherent characteristics of the new market that make it difficult for the entry of the brand.
- Threats: Possible difficulties the brand may face when entering the market/ country in the future.
- Vulnerabilities: Weaknesses that will be exposed to threats in the new country's environment.
Suggestions:
- Standardization: the practice of ensuring consistent products, marketing, or branding elements across all markets that the company expands to, which aims to maintain an universal brand experience, minimize variation costs and difficulties.
- Adaptation: the art of tailoring different branding and marketing implementation aspects to the specific needs of the local markets, with an aim to improve consumer experience and build stronger brand equity in the new market.
Notes & tips for choosing brand and country:
- For brand
+ NOT from the BANNED list
+ Information and data of that company/ brand are easy to find on the Internet (Not too famous, but not too small or start-up)
+ Should be in the industry that the brand’s home country is famous for (e.g.: Vietnam is famous for the textile industry => Vietnamese clothing brands can take advantage of the Country of origin (COO) effect)
+ NOT likely to use the strategy of export (Internationalization) because:
● Internationalization strategy needs low local responsiveness and low global integration => difficult for the (adaptation & standardization) suggestion part below.
● Internationalization also needs low investment => Brands are not likely to do a full brand launch (Asm 3)
- For country
+ Choose the country in which the chosen brand hasn’t been launched
+ Research and pick the country that your brand can survive and compete in (e.g.: The US or Canada are not suitable Pizza 4P’s to expand to as these markets have been oversaturated with other pizza brands)
+ NOT your home country (e.g.: Don’t choose Vietnam if you are Vietnamese)
I/ Introduction
Tips to have a good introduction part:
- Cleaning the data after collecting: You only need to state the information that is highly relevant to the assignment topic as well as to be mentioned/ used in your work below.
- From General to Specific: Although this is a slide report (which is less strict in the format and order of information displayed), the flow of giving information from general to specific is still preferred for a clearer and more logical introduction (e.g.: Company => Brand => Specific environment/ conditions)
Suggested flow & information to include:
E.g.: Established in 1892, Coca-Cola is one of the world's largest and most recognized beverage companies with its headquarters in Atlanta, Georgia, USA. The Coca-Cola Company was not founded by a single individual, but its origins can be traced back to a pharmacist named John S. Pemberton.
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