IM tutorial work

.docx

School

The University of Sydney *

*We aren’t endorsed by this school

Course

3116

Subject

Marketing

Date

May 6, 2024

Type

docx

Pages

4

Uploaded by CommodoreFrog3202 on coursehero.com

Tutorial 1: Italian shipbuilder Fincantieri, one of the world's largest, has customers like Carnival Cruise Lines and Princess Cruises. In 2010, it delivered Cunard Line's Queen Elizabeth, and in 2011, Carnival's Carnival Magic. STX Group, a South Korean conglomerate, acquired a majority share in Aker Yards in 2007-2008, renaming it STX Europe, causing concerns in France. STX Europe faced challenges in the shipbuilding industry, including reduced orders and job losses. In 2016, STX filed for receivership and had to sell its French holdings. Fincantieri acquired a controlling share of STX France in 2016 after negotiations, aiming to create a European naval defense industry "champion" to remain competitive with China and the US. 1. What factors do companies have to consider when entering the international market? companies need to consider various factors, including market research to understand local market conditions and consumer preferences, cultural differences that may impact marketing and business strategies 2. Describe some opportunities and challenges in international marketing created by new advances in information technology. increased reach through digital marketing, efficient market research leveraging data and analytics, access to global supply chains, and personalized marketing. challenges include intensified competition in the digital space, data privacy and security concerns, adapting to local regulations, and managing online reputation and customer feedback. 3. What effect has the Brexit process had on the UK’s position in the international market? changes in trade agreements, tariffs, regulations, and access to the European Union market. It has created uncertainties for businesses in terms of supply chain disruptions, market access, and potential changes in consumer behavior.
4. What is the danger in oversimplifying the globalisation approach? Would you agree with the statement, ‘If something is working in a big way in one market, you better assume it will work in all markets’? assuming that what works in one market will automatically work in all markets. Each market has its unique dynamics 5. When do companies have to standardise their products? What factors influence product standardisation? when there are global consumer demands, economies of scale, cost efficiencies, and regulatory requirements. Factors influencing product standardization include similarities in consumer preferences, cultural similarities, ease of manufacturing and logistics, and market positioning strategy. 6. Discuss the notion of ‘bigger is better’. Should companies always try to grow their market presence and look for opportunities to acquire or merge with other companies? bigger is better means - companies should always aim to grow their market presence and explore opportunities for acquisitions or mergers. Growth strategies should align with the company's overall business goals, 7. Carrefour has adapted many aspects of its product offerings and processes to fit the different consumer demands in various countries. Why? adapts its product offerings and processes to fit different consumer demands in various countries due to cultural differences, local consumer preferences, and market characteristics. Adapting to local tastes, preferences, and consumption habits helps companies to connect with consumers,
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help