Unit 3 Assignment Part 1: Global Marketing Environment

Question

Unit 3 Assignment Part 1 Global Marketing Environment or the Twilite Z Unit 3 Assignment Part 1: Global Marketing Environment or the Twilite Z Organizations interested in pursuing global markets must consider the external environment. Many of the same environmental forces that relate to domestic markets also apply to global markets (Lamb, Hair, & McDaniel, 2018). You will look at the global marketplace in which, thanks to the Internet, even small companies can participate. The external marketing environment is full of opportunities and threats that can have a profound effect on the success or failure of a company, a brand, or a product in the global marketplace. In Part 1 of this Assignment, you will practice scanning the global marketing environment (i.e., environmental analysis) for opportunities or threats to expansion of Perigord Bakery as the owner. Read the scenario and then address steps 1–3 in at least 5 of the 10 PowerPoint slides due in Unit 4 per the instructions. Scenario: You are the owner of Perigord Bakery, which is currently located in the city closest to where you live. You specialize in breads and sweets from many different countries and now have operations in six regions of the U.S. You realize the market has become saturated in the U.S. At a recent international trade show, you were surprised at how many requests you received to license or franchise your concept in other countries. Your task is the following: Based on the scenario, identify another country outside the United States to research and determine the feasibility of entering this foreign market for the Perigord Bakery as the owner by addressing the checklist items: Step 1: Cultural Factors — Identify several cultural factors in the country you are pursuing that may affect market expansion of the bakery, such as behavior patterns, the concept of time, lifestyle, etc. You can use Commisceo™ Global Consultancy’s website to research country cultural factors. Considering these cultural f

Dr. Jack HW Helper · Accepted Answer

Introduction When considering entering a foreign market like Brazil, several cultural, demographic, and economic factors must be assessed to determine feasibility. Brazil's rich cultural diversity presents both opportunities and challenges for bakery expansion. Key demographic aspects such as population size and age distribution influence potential customer bases, while economic indicators provide insight into market sustainability. Cultural Factors Behavior Patterns: Brazilians prioritize family and social interactions, which can influence bakery visit frequency and product preferences. Concept of Time: A more relaxed attitude towards punctuality may impact operational scheduling. Lifestyle: Emphasis on communal eating and celebration can enhance demand for bakery products. Religion and Traditions: Religious festivals associated with sweets can increase seasonal sales. These factors offer opportunities for culturally tailored marketing and product offerings, but also pose threats if misinterpreted. Demographic Factors Population Size: Brazil's large population offers a sizable market for expansion. Age Distribution: A significant young demographic may favor innovative and trendy bakery items. Urbanization Rate: High urban density facilitates targeted retail locations. Education Levels: Varying education levels can influence marketing strategies. These demographics can be advantageous for expansion with targeted marketing, but may also require customized approaches. Economic Factors GDP Per Capita: Indicates purchasing power, which influences product pricing and positioning. GDP Growth Rate: Positive growth suggests increasing market opportunities. Unemployment Rate: Low unemployment signals stable employment and consumer spending capacity. In conclusion, the economic environment in Brazil presents significant opportunities, though challenges exist in price sensitivity and competition. References Lamb, C. W., Hair, J. F., & McDaniel, C. (2018). Principles of mar

Unit 3 Assignment Part 1: Global Marketing Environment ✓ Solved

Unit 3 Assignment Part 1: Global Marketing Environment or the Twilite Z

Sample Paper For Above instruction

Cultural Factors

Demographic Factors

Economic Factors

References