BSBMKG606 Manage International Marketing Programs Presentation

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BSBMKG606 MANAGE
INTERNATIONAL MARKETING
PROGRAMS

Table of Contents
Task 1..........................................................................................................................................................3
Task 2........................................................................................................................................................11
Choose an Australian company of your choice and assume you are heading the marketing department
which you are tasked to provide a 10-minute presentation to the CEO (your trainer would undertake this
role) on which country would be best suited for its business expansion plans to another country.............11
References.................................................................................................................................................22

Task 1
Monetary Cost
It is an umbrella used by an organization to measure and estimate the financial cost of the assists
made by the organization. Monetary cost is the cost included in borrowing money with interest.
If a company borrows $10000 with 10% interest, then 10% of $10000 is the monetary cost for
the organization.
Time cost
These are those costs, which would not be associated directly with the project activities, and
hence these costs are assigned with space, administration staff and taxes. Such cost is steady and
average per unit time over which the project life is associated.
Risk factors
Risk factors are the factors, which create losses for companies or organization despite their profit
been made for the processes. Risk factors in business include sales volume, per unit price and
input costs (Chauhan, 2015).
Competition in the Internal market
Competition and its policies are important and play a vital role in the market. Competition in the
internal market helps to sell quality goods and providing quality services at very cheap prices
(Menon, 2015).
Market share
Market share is the percentage of the shares which a company has attained in a period. Market
share is estimated by the total sales which an organization has achieved in an annual year.
Estimated impact of marketing opportunity
The estimated impact of marketing opportunities available can be identified by the
following ways:
It is important to identify the segmentation of the consumer's characteristics.

Looking at the distribution channel can explain how consumers usually buy certain
products and what are the product opportunities for a company to estimate the impact.
When determining an organization's strategic position, the most common strategy tool is
the SWOT analysis – Strengths, Weaknesses, Opportunities, and Threats. Provide a brief
discussion on how the use of this analysis tool would enable the organization to aid its
business expansion decision.
Strengths
The sustainable growth in the company arises
with good monitoring of the management
team with adequate skills available in the
structure.
Weaknesses
Various barriers such as communication
issues, financial and law abides of the new
nations in the expansion are weaknesses in the
decision making of business expansion.
Opportunities
In the new business expansion, there is a huge
amount of opportunities available for
Westpac, to gain new customers.
Threats
The local competitors are the threat for
Westpac while expanding to new nation or
market.

Changes in your business environment can create great opportunities for your organization
– and cause significant threats. Discuss how the use of PEST analysis can identify ‘Big
Picture' opportunities and threats.
Political factors: there are the following factors politically affecting Westpac:
Military invasion risks
Importance and place of bank sector in Australia.
Corruption level
Intellectual property protection
Antitrust laws
Economic factors: The economic factors which would be affecting the Westpac are:
Exchange rates for goods and services.
Infrastructure quality in the banking sector.
Skills set of workforces available in the banking sector.
Social factors:
Demographic factors and knowledge of people.
Gender roles, the culture of the market.
Entrepreneur spirit among people.
Leisure interests among people.
Technological factors:
The value chain structure available in the banking sector.
The cost structure in the banking sector.
Technological developments in Westpac banking corporation and its competitors.

Without setting clear performance goals, employees may feel aimless about prioritizing and
completing their work and disengaged in their jobs, and teams can become mired in
confusion, misunderstandings, and conflict. Provide a brief discussion on the use of the
SMART model as a goal-setting tool.
Specific: It is important to understand what exactly do they want to achieve? Westpac has to
know what are the specific goals for the expansion of their business. Questions like What to
achieve? how? when? should be asked before the limitations.
Measurable: in this section of SMART goal, the goals which are specified should be measured,
and the level of issues which might arise have to be measured for the specific goal.
Attainable: This segment will analyze whether the goal is achievable or not. The time, cost and
weight of the goal would be analyzed in this segment.
Relevant: small goals set should be completely relevant to the large goals specified in the object.
Relevance should be specified with the reason Why this goal has been the priority?
Timely: The goal which is specified should be set timely. The chart should be made with a
timeline of the tasks which should be achieved according to the priority (North, 2016).
The nature and extent of goals for the international market should take into consideration
several factors. Briefly discuss the following:
The differing needs of customers: It is the consumer who decides on the product or not. Hence
the customers are the targeted assists in Westpac. IT is important to analyze consumers while
assessing the marketing strategies. The differing of customers includes needs, desires of the
consumers for the products and services provided by Westpac.
Existing Competition: The competition in the international market is quite high, hence it is
important to have a team which is ready to serve in any department of the bank. The competition
existed in the international market is high, hence it is important to confirm first that, if their
company can be able to from one central headquarter or not?
Trade barriers/ protectionist arrangements: The most common barrier in trade is tariff tax.
Tariff rise would affect the trade of services of Westpac from one nation to another for the

expansion of Businesses. Trade barriers are the barriers introduced by the government for the
international trade system.
Free trade agreements: A free trade agreement is an agreement between different states or
nation to provide a free trade area for Import and export of the goods and services among the
businesses.
State of the economy: A steady-state economy is an economy which is developed by the stocks
consistent with the development and the population size which is growing constantly too.
Risk factors: Risk factors are the factors, which create losses for companies or organization
despite their profit been made for the processes. Risk factors in business include sales volume,
per unit price and input costs (Ellis,2018).
KPIs are quantifiable measurements from which the organization can assess performance
against and they are aligned with the company's overall goals and, highlight the areas that
are vital to success. When creating strategic objectives and key performance indicators,
consider the following:
1) Product: Westpac is developing some Ecards for the payment facilities to the customers
so that customers can ease out during the payment options. The credit and debit card and
Some of the medical loan benefits provided to the customers are the products specified
with goals for Westpac.
2) Services: Westpac has been developing Hybrid cloud computing technologies as a
service to the customers so that customers can ease out with the services which they
would require as a consumer of Westpac.
3) Country/international grouping: Westpac has been grouping with some international
banks for the development in their services and products. Banks such as Commonwealth
banks collaborated with Westpac (Ali, 2015).
7. A risk management strategy is required to manage contingencies and ensure marketing
objectives are met by overall organizational requirements. Discuss briefly the various risk
factors that may impede the organization's international marketing performance below:

Technology advancement: Westpac has been collaborating with IBM to develop Cloud
computing software, for ease of payment for the public. Hence it is technology advancement, and
it affects the risks inclusive in it.
Product design problems: The problems which may arise in this technology advancement of
cloud computing. Product thinking is generally termed as problem-solving. The product is
bought by any company or customer to solve their real-world issue involved with it.
IP and patent rights: these are like any other property right. This organization allows owners or
creators of patents, copyrighted works to get benefits from their work included. These both rights
and law are maintained by the World intellectual property organization. (WIPO).
Contractual difficulty: In the conflict of contracts, the difficulty with the foreign law contracts
would be decided and benefitted with this contractual element. There are difficulties which might
arise in the contracts, and violation of the same is punishable (Alhelou, 2017).
Political unrest: Political unrest are the situation when there were some political influences
which affect the problem arising in the organization.
Bribery: Bribery in business is compensation of money in return for an action or for some kind
of influence.
Currency fluctuation: currency fluctuation is nature or outcome of a change in the exchange
rates between one country with the another.
Inflation: Inflation is a measure for the rate of a group of products and services with the increase
in the price level of the selected products over some time.
Monitoring risks is important, so that they are kept under control and that any new ones
that present themselves are dealt with as early as possible. Explain how organizations can
take steps to control or prevent risks on the following:
The importance of risk management and maintenance: The risk management is structured
under Enterprise risk management which is a continuous process across Westpac. ERM and risk
management generally affect the opportunities and threats which would be specified to be
achieved.

Steps to manage risk treatment and control: these are the steps to follow the risk
management process:
Identifying the risk is the very first step, here it is important first to identify the risk involved.
Analyze the risk: In the next step, the level of risk involved should be analyzed.
Evaluate the risk: Risk identified should be evaluated.
Treat the risk: In the 4th step, risk should be treated to the desired knowledge.
What is in the updated ISO 31000:2018?
The updated ISO 31000:2018 is used to identify and rectify all the risk faced by the organization.
The ISO 31000:2018 can be used and rectify the problems and risks involved in the Westpac.
This ISO can be applied to any activity or process involved in Westpac.
Outline relevant Australian and international standards, models policies and guidelines,
including those covering:
Approval and assessment of national environmental and cultural concerns: Environment
impact assessment and culture concerns are the tools which are used to rectify and understand
the problems faced by the environment due to any project implemented or conducted by any
organization.
Human rights: Human rights are the rights inherited by any individual according to their caste,
creed, race, color, gender, age, etc. Human rights included right of any human to feel free to say
anything or comment on any issue which he or she would be like to do.
Labor relations: Labor relations or sometimes also called as industrial relations are the relations
developed or maintained among the employer, employee and other working representatives
directly or indirectly. Labor relations include various pay rates specified for an employee by the
employers.
Packaging: Packaging refers to all the activities related to the production, developing, designing
of the product to preserve the important aspects of the products from the outer world.

E-commerce: It is the service or platform of buying or selling products through electronically
equipped tools such as computers, mobiles, etc. Product ca be bought by the user at their home
and would be delivered to them at home.
Australian Competition and Consumer Commission in terms of the Australian Consumer
Law
The ACCC is the national government agency which monitors the competition and consumer
commission and punishes all those organizations who does not follow the law.
Foreign investment limits: these are the limits upon which any organization cannot exceed its
investment in foreign assets.
Privacy law: Privacy law refers to the collection, regulation and using of all the information’s
available of individuals, stored by government or private organizations. Storing such information
comes under privacy laws.
10: Explain the aims of the Organization for Economic Co-operation and Development.
OECD aims to promote policies of coordination and economic freedom between some developed
nations. The old OECD is developed to monitor the contribution of American and Canadian
Marshall plan.

Task 2
Choose an Australian company of your choice and assume you are heading the marketing
department which you are tasked to provide a 10-minute presentation to the CEO (your
trainer would undertake this role) on which country would be best suited for its business
expansion plans to another country.