International Business Assignment Sample
Introduction
The study will focus on analyzing the internal and external factors that affect the organization while moving into the international market. It requires proper evaluation of the environment which requires integration of resources so that it could manage for sustaining itself in the competitive market. The study will take Castore UK as its selected company for expanding into international markets such as Australia. It will also evaluate the international market entry strategy in the organization for expanding into the market and providing its products and services to customers.
About Company
Castore UK is a sportswear brand that has its focus on delivering innovative and comfortable sportswear apparel to the customers with new design and comfort into it. The company has marked its position in the market of UK for serving customers locally. This made the organization explore new areas for having a large customer base and delivering the required products or services to them. It leads to the development of new products or innovation in the products so that marketing could take place effectively (Castore, 2020). From the perspectives of Harris et al. (2016), it is recognized that Castore is a superior athletic apparel clothing firm in the UK, and its ongoing product offering brings a parcel of mindfulness about the eco-accommodating climate. The firm’s 100 per cent assurance of natural texture or feasible practice gains parcel of consideration and appreciation in the neighbourhood market. This is on the grounds that it doesn’t have a flaw or awful scent yet it is economical. This inventive texture has a substance of 100 per cent normal textures as the firm sent off its spring assortment which is comprised of castor oil.
Other than that, for numerous years, it has been depending on the natural cotton, practical Tencel and cuddly reused polyester also. These practices assist the firm with offering spring assortment at a reasonable cost to people. It additionally gets a parcel of acknowledgements from the side of UK nearby people groups. Be that as it may, assuming Castore concoct the manageable item clothing line in different nations like agricultural countries, for example, India and Nepal and created nations like Australia and USA then there are high odds of coming out on top (Santos et al., 2016). Besides, this product offering is likewise practical to extend across the globe because of expanding ecological issues inside which individuals become more cognizant and they become more pursued towards green product offering or those items which are on excellent with low moderateness (Covin and Miller, 2014). Subsequently, this product offering would have a more prominent likelihood to get the acknowledgement of worldwide crowds.
Analysis of macro and micro factors in the international market
Microanalysis
Micro factors are analyzed into the environment so that it could help in taking up the right strategy for being in the competitive market. It requires evaluation of internal strengths, and weaknesses so that they could be upgraded for attaining opportunities and meeting threats in the competitive market. It leads to the usage of the SWOT analysis model so that it could evaluate and analyze the internal factors for delivering the required results to its customers. The SWOT analysis model is as followed-
Strength– the strength of the organization is that it has its great brand positioning in the market of UK with the development of new products and services in it. The innovative products and services ensure that it could easily sustain itself in a competitive market while serving the customers. Moreover, it is appealed to the customers as it carries sustainability practices and approaches.
Weakness– the weakness of the organization is it does not have any expansion into the international market or global market. Moreover, the resistance of employees to adopting digital technology and marketing affects the organization with the delivery of its products (Armstrong et al., 2016). This hampers the productivity of the organization in serving the customers.
Opportunity– The opportunities that could be attained in the company are having international expansion with the right products and services. Innovation into new products and services appeals to the customers while creating its position in a competitive market.
Threat– Threats that are faced by the organization are changes in the preferences of the customers which are dynamic. A high level of competition and entry of competitive firms into the market affects the organization and its sales in the market (Gwozdz et al., 2017).
Macro analysis
The PESTLE investigation model is utilized in the association for assessing the strategies with the assessment of various factors, for example, political, financial, social, technological, lawful, and environmental. This guarantees that the utilization of the model would assist in getting to the methodology and its adequacy with the assessment of its level in the association.
Political- Castore UK has the presence of its image all around the world which makes it work intimately with the principles and administrative system of the public authority in different nations. It empowers it to safeguard the authentic interest of the organization while having the right economic deals followed by future assumptions with a diminishing cost.
Economic- The progressions in financial factors, for example, expansion rates, loan costs, unfamiliar trade rates and financial development designs influence the association and its economy on the lookout. The low discretionary cash flow of the Castore UK in the possession of customers prompts an abatement in the interest in quality items and administrations (Koszewska, 2018). This has diminished the capacity of expenditure on attire and extravagance.
Social- different social variables impact the selection of clients followed by social, individual, and mental changes on the lookout. This influences the creation of the association as it expected items and administrations to be conveyed according to the necessities of the clients. It requires an appropriate assessment of the necessities of clients for conveying fulfilment.
Technology- Innovation change software engineer is taken on in Castore UK for turning into an advanced first business for conveying the successful and wanted insight to its clients. This causes it to be a more innovative and arranged organization for ideal development (Tiago and Veríssimo, 2014).
Legal- Castore UK makes the reception of regulation and keeps each representative refreshed in the association as far as wellbeing and work for dealing with the ongoing regulations. It causes the association to oversee instructional meetings consistently so every worker could be refreshed.
Environment- Green arrangement is taken on by Castore UK for emphatically affecting the networks, prosperity and individuals. This guarantees that they have current updates about the progressions that occur in the climate for dealing with the changes.
The utilization of the PESTLE model investigates that the procedure taken on in the association alludes to the practical level as each useful division needs to play out its undertakings. It guarantees that each division is furnished with the right essential system which is applied for managing the progressions and addressing the requirements of the essential environment.
Recommend market entry strategy
Based on the above study, it is recognized that the Australian market would be the correct one to grow the Castore spring green assortment launcg This is because Australian individuals know the worth of the green product offering and are prepared to spend for the natural texture or administration. That is the reason; it would be the correct market to investigate. For this, it is a must for advertisers to accomplish the showcasing objective of Castore for going into the Australian market.
The goal is to cater for the necessities of each and every client fragment by offering them different plan garments which are completely comprised of unadulterated texture without incorporating synthetics.
In regard to satisfying this goal, Deville et al. (2016) found that both the web and computerized promotion would be viable. The disconnected promotion may incorporate the act of announcements show and utilization of a virtual showcase to introduce the creative interaction of fabric. This region could impact the purchaser purchasing conduct. Then again, advanced advertising is another yet successful promoting methodology to pursue a bigger client base. In the space of extension, the internet business market would be more successful to enter as it comprises of okay of falling flat. The utilization of web-based entertainment might assist the advertisers with getting the customer’s conduct and make them mindful of the product offering (Chaffey, 2019). This way advertisers can be ready to record the reactions and cook the necessities of clients.
The utilization of advanced promotion would likewise assist the firm with getting to bigger clients in a limited capacity to focus time. The odds of coming out on top are likewise high in this methodology due to getting a prompt reaction permits the firm to make changes effectively. Subsequently, this training would end up being critical for Castore UK to get high acknowledgements in the Australian market. Thus, these are the showcasing procedures recommended to the advertiser for exploiting it to get the splendid open doors concerning high openness in the Australian market.
Conclusion
From the above study, it has been concluded that international expansion is required in the organization with the evaluation of micro and macro factors into it. It has provided the implication of micro and macro factors that have impacted the company at a large level. It has also given recommendations for having improvement in the organization and entering into the international market.
References
- Armstrong, M., Niinimäki, K., Lang, C. and Kujala, S., 2016. A use‐oriented clothing economy? Preliminary affirmation for sustainable clothing consumption alternatives. Sustainable Development, 24(1), pp.18-31.
- , 2020. Company Profile. [Online] Available at: https://castore.com/
- Chaffey, D., 2019. Digital marketing. UK: Pearson.
- Covin, J.G. and Miller, D., 2014. International entrepreneurial orientation: Conceptual considerations, research themes, measurement issues, and future research directions. Entrepreneurship Theory and Practice, 38(1), pp.11-44.
- Deville, A., Wearing, S. and McDonald, M., 2016. WWOOFing in Australia: ideas and lessons for a de-commodified sustainability tourism. Journal of Sustainable Tourism, 24(1), pp.91-113.
- Gwozdz, , Steensen Nielsen, K. and Müller, T., 2017. An environmental perspective on clothing consumption: Consumer segments and their behavioral patterns. Sustainability, 9(5), p.762.
- Harris, F., Roby, H. and Dibb, S., 2016. Sustainable clothing: challenges, barriers and interventions for encouraging more sustainable consumer behaviour. International Journal of Consumer Studies, 40(3), pp.309-318.
- Koszewska, M., 2018. Circular economy—Challenges for the textile and clothing industry. Autex Research Journal, 18(4), pp.337-347.
- Santos, A.D., Ceschin, F., Martins, S.B. and Vezzoli, C., 2016. A design framework for enabling sustainability in the clothing sector. Latin American Journal of Management for Sustainable Development, 3(1), pp.47-65.
- Tiago, M.T.P.M.B. and Veríssimo, J.M.C., 2014. Digital marketing and social media: Why bother?. Business horizons, 57(6), pp.703-708.
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