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Assignment on International Marketing

   

Added on  2019-12-03

10 Pages3175 Words104 Views
Internationalmarketing1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3An analysis of macro and micro factors impacting on the retail market and the marketrecommendations.........................................................................................................................3An evaluation of market potential (shortlist of markets with potential)......................................5Recommend two markets which can be selected and provide justification as well....................5Recommendation of two markets which can be selected for diversification along with itsjustification..................................................................................................................................6Marketing mix for proposed markets...........................................................................................7References......................................................................................................................................102

INTRODUCTIONIn the contemporary scenario, international marketing is gaining significant aspectas it focuses on introducing wide range of products and services into the new marketplace.The present report is being focuses on the Next one of the renowned British multinationalbrand that serve wide range of products that include clothing, footwear as well as homeproducts. The company mainly operates their business activities through their online storesand physical stores in the UK region (Amabile and et.al., 2006). Presently, the report focuseson analysing the micro as well as macro factors that mainly affect the retail market. However, thereport will also focus on studying different market under which Next can diversify their businessactivities. An analysis of macro and micro factors impacting on the retail market and the market recommendationsThere are wide range of factors included in external and internal environment that affectthe clothing industry and some of the factors are discussed in the below mentioned section. Thefactors that are included in the macro environment are as follows:Political factors: Rules, regulations and government framework can posses negative aswell as positive impact on retail industry and this further also leads the business entities to adoptseveral new provisions for business management. In order to adopt the new systems, Next plchas to emphasize on cost facets as that could also prevent the business from the legal issues(Zweifel, 2003). Retail industry needs to consider legal factors as well where in chief focusshould be given to legal policies and strategies because retail industry mainly focuses ondiversification and expansion aspects. On the other hand, trade regulations needs to beconsidered for the same. Economic factors: Retail industry needs to consider economic aspects as with the help ofthat only, business can survive at competitive market place. The flow of resources is stable in theeconomy; therefore this assists the consumers to spend more on retail products and services.Hence, economic factors are beneficial for the business entity because people are spending morein retail products and services. However, on the other hand, if changes would appear in economicfacets, then it might hamper the purchasing parity of consumers. Thus, retail industry needs tolower down the prices so that demand can be increased (Gyves, 2008). 3

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