BSBMKG512 International Market Assignment Sample
Here’s the best sample of BSBMKG512 International Market Assignment, written by the expert.
Introduction
In the current business environment, everyone country is aware about the concept of the international business and every country is involved in the international business process. It allows the country and based company to export and import the good and service to meet the requirement of the customers in the market. In the same concern of this, it is found in the previous task that Tasmania is one of the major exporters of the Milk, meat and Cherry. These products are exported in Japan, China, Saudi Arabia, India and Vietnam. The main aim of this report is to evaluate Tasmania’s current export principles and also evaluate whether they can meet the current and emerging needs of targeted international markets (Koldewey et al., 2010). In order to achieve this aim, this report analyses the current, historical, political, economic and general knowledge of on the international events the context of Tasmania. At the same time, the impact of these international events is also analysed. Furthermore, this report also discusses the threats and opportunities of Tasmania in doing international business environment by analysing the legal, ethical and environmental constraints of Tasmania.
The current situation of cultural, historical, political, economic and their impact
Re-development or withdrawal of under-performing products or services
Tasmania is one the main states of Australia that can be also known as an Island. In the international business environment, Tasmania is well known in exporting the milk, meat and cherry. It focuses re-develops the under-performing product or services in order to export the good and service out of the county. Tasmania’s cherry and milk products are world famous that is why remains highly demanded in the various countries (Leather et al., 203). However, there is a need of the restructure of the some are in order to get the good result. At the same time, it is found that China and Japan have good relationship with Tasmania because they import the meat and cherry in the large quantity from the Tasmania. The main reason of this is that quality of the cherry and meat product is really high. Even though, the milk product are also exported by Tasmania but the quality of these product are not much good. Due to this, there is a need to Re-development of the product in this area. In this concern, en effective strategy and standard can be developed to improve the quality of the product (Lester, 2014). For this, a team can be established that will examine the quality of the product that is being export of Tasmania.
Under-serviced markets within the country of choice
In the past years, it has been found that the economic is continues growing in the world. The main reason of this is development of the concept of globalisation. But, at the same time, it is also evaluated that the level of the competition is also increasing that is why it has become difficult for an organisation to get the advantage over the competitors (Lloyd and George, 2016). Due to this, it has also become essential for Tasmania and operating companies in this to spend money in the development of the new area of the business to improve the profitability. In additionally, in the current market, customer demands of the high quality products in the competitive price. Due to this, it is import for Tasmania that it will concern to improves the service in order to provide the best satisfaction and experience to the customers and importers. For this, Tasmania can improve the service quality by adopting the training and development practices (Lubbe and Verpoorte, 2011). For this, the government of Tasmania can increase its spending. At the same time, it can also concern on the technology to offer the best service in the world.
Market changes of Tasmania’s strength or capability
According to Grigoriadis (2014) business environment is a rapid changing aspect and changes in this are uncertain. Tasmania has developed its market according to its strength or capabilities. In this, it is also identified that the demand of Tasmania’s good and service are world famous due to quality and some unique features. In the evaluation of the history of Tasmania, it is found that it made changes in the market of the according to strength and capability which impact has been seeing as the great demand of Tasmania product in the market.
Gaps in competitor products or services
There is different in the product and services that are provided by the Tasmania and its competitors. In this, it is found that the quality and test of Tasmanian meat, cherry and milk products is different from its competitive. At the same time, the business relationship of Tasmania is also effective and commendable with its customers’ counties (Grosch, 2013).
Strategic alliances and cooperative business model used
The economic situation of Tasmania is well developed because it is part of Australia. The government of Tasmania focuses on economic development due to this, economic factors such us interest rate, tax rate, labour rate, GDP growth rate and per capita income are favourable for Tasmania. In additionally, strategic alliances and cooperative business modal are used by Tasmania to get the sales in the international business (Hansen, 2013). At the same time, the strategy and policies such as free trade also attract and provide the economic growth to the Tasmania.
Greater market penetration with existing products or services
There is an economic growth opportunity for Tasmania with its existing service and product. It has great market penetration option with applying the new business strategy in the current market with the existing product. As concerning the market penetration strategy, Tasmania can develop new products and services in order to deal in the international business (Harrison, 2013). However, out of this, Tasmania can concern of the new business markets with its existing product and services where its quality good.
New business and franchising opportunities
There are various business and the franchising opportunities that are also provided by Tasmania for the other organization in Australia that make easy the country to complete the needs of the target market. It is also helpful for completing and to fulfil the emerging needs of the targeted market at international market (Kaynak, 2012). The new business expansion also assists in the rapid growth and the easy expansion in limited time. In like manner, it also provides the motivation for the new business because by this, they can have the new ideas for making much better performance of the firm and also helps to improve the quality of the products that is quote better for Tasmania government as well.
How new products or services to target specific markets can be achieved
There are different techniques and the strategies that can also be used by Tasmania in order to explore the new product and the services in a new market. Apart from this, after launching the new products and the services, there will be high possibility to achieve the target market.
Analysis of the legal, ethical and environmental constraints of
Analysis of legal, ethical and environmental constraints
The Tasmania legal system is based on the rules, law, justice and the independence of the judiciary. The government system is developed with the concept of the federal government of Australia. However, the local and non-local person in Tasmania is treated equity in the reference of legal system. It also has three separate branches of the government that are known as the legislative, executive and judicial (Lang, 2011). It helps the Tasmania government to review the each essential aspect that is relevant with the legal system. In this, it is also examined that there is also free trade relationship of the Tasmania with the various countries that helps to reduce the cost shipping cost. In this system, the law and rules are made by the parliament and these are implemented by the executive government. In the same concern of this, in the ethical practise, Tasmania uses the high standard that is one of the major strength for the country to attract foreign business. In the context of the ethics, it is also found that there is effective and commendable situation of in the context of the law, polices and individuals. It shows that a country gets benefit of the ethical standard of Tasmania when develops the business relationship with the Tasmania (Lester, 2014).
In the context of the environmental analysis of Tasmania, it is found that Tasmania is an island that is a part of Australia. It includes a large portion of its animals and plants. However, three kind of environmental issue is faced by Tasmani and national and international level that has impact on the international business policies (Lloyd and George, 2016). In this, global warming is one of the main challenges for the export activities of Tasmania. The practices of government of Tasmania are for reduce the negative impact of the business activities on the business environment. At the national level is found that marine and native fauna conservation and Ocean dumping are as the Tasmania government environment protection policies.
Threat and Opportunity
On the basis of the above discussion, it is evaluated that there are various opportunity of the Tasmania as concerning the legal, ethical and environmental situation. In this, the one of the main opportunity of Tasmanian is its high ethical practices in the business. It can help the country to expand its export and import activities by developing the new business relationship. At the same time, the focus on the free trade policies also has opportunity to export more good and service out of the country boundary (Harrison, 2013).
Along with the opportunity, there are also some threats that are identified on the basis of the legal, ethical and environmental constraints. In this, it is identified that the increasing the environmental issue are concerning aspects for Tasmania. It is because the government of the Tasmania has developed the some sticks rules and regulation that bound the organisations to keep limited business activities (Lubbe and Verpoorte, 2011). At the same time, it is also found that currency rate, different accounting standard, culture differences are some threat for Tasmania in the exporting the milk, cherry and meat out of the boundary.
Conclusion
From the above discussion, it can be concluded that Tasmania is highly involved in the international business practices. However, there are various things that affect the international business process of Tasmania. But, due to good quality and test, the demand of cherry, meat and milk product is high in the international business. It is also found that there is need concern on quality of the milk that facing issue at some place.
References
Grigoriadis, L. G. (2014) Trade Marks and Free Trade: A Global Analysis. USA: Springer.
Grosch, G. (2013) Managing Working Capital; it Depends Upon the Type of Retail Business? USA: BoD – Books on Demand.
Hansen, H. O. (2013) Food Economics: Industry and Markets. UK: Routledge.
Harrison, A. (2013) Business Environment in a Global Context. USA: Oxford University Press.
Hughes, K., Wang, J. and Shu, M., (2015) Exploring the travel patterns, preferences and recommendations of Chinese university students living in Australia. Journal of Hospitality and Tourism Management, 23, pp.12-22.
Kaynak, E. (2012) Marketing Issues in Western Europe: Changes and Developments. UK: Routledge.
Koldewey, H.J. and Martin-Smith, K.M., (2010) A global review of seahorse aquaculture. Aquaculture, 302(3), pp.131-152.
Lang, A. (2011) World Trade Law after Neoliberalism: Reimagining the Global Economic Order. USA: Oxford University Press.
Leather, D.T., Bahadori, A., Nwaoha, C. and Wood, D.A., (2013) A review of Australia’s natural gas resources and their exploitation. Journal of Natural Gas Science and Engineering, 10, pp.68-88.
Lester, L., (2014) Transnational publics and environmental conflict in the Asian century. Media International Australia, 150(1), pp.167-178.
Lloyd, D. and George, D., (2016) Thoughts on accelerating innovation and adoption in Australian agriculture. Agricultural Science, 28(1), p.25.
Lubbe, A. and Verpoorte, R., (2011) Cultivation of medicinal and aromatic plants for specialty industrial materials. Industrial Crops and Products, 34(1), pp.785-801.
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