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in 60 words discuss the inclusion of ‘Trends’ in the SWOTT analysis and its importance in the strategic marketing process.

marketing unit 4 assignment

Assignment Details

The External Marketing Environment in the Global Marketplace

  • Before you start this Assignment, make sure you have reviewed the SWOT tutorial located in the Reading area.

In your Discussion you addressed entering the U.S. market from abroad. Now in this Assignment, you will take a 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. Although the external marketing environment is largely uncontrollable, marketers must always be aware of the many forces that may impact the business. Marketers conduct due diligence for the business by scanning the environment for social, demographic, economic, technological, political, legal, and competitive opportunities or threats. In this Assignment, you will practice scanning the global marketing environment for opportunities or threats to an organization.

In this Assignment, you will be conducting an environmental analysis as a new marketing associate for a car sharing business.

Click on the grading rubric below to see the full instructions and grading rubric for this Assignment.

Rubric

Review the assignment instructions and grading rubric.

 Resources

Unit 4 Assignment Template

dc marketing unit 4

Discussion board 

Global Marketing

Marketers must develop a keen awareness of how the environmental factors will present opportunities or threats to the company, brand, and product being marketed. According to Lamb, et al., (2014), “global marketers face the same environmental factors as they do domestically: culture, economic, technological, political structure and actions, demography, and availability and sustainability of natural resources” (p. 55). Large corporations have traditionally been the major global competitors, but more and more small businesses are entering the global marketplace by the very fact of having an Internet presence.

To understand how a product of the United States of America (U.S.) is perceived in the global marketplace can be difficult for new marketers. To build a strong understanding of global marketing, you will consider the reverse scenario by identifying a foreign made product to market in the United States.

Directions for the Discussion Board

You should shop for a product made by a foreign firm. Possible choices for this Discussion include ethnic grocery stores (such as Latino stores or Japanese food stores) or chains such as Cost Plus or Pier One that import inexpensive products from other countries. When selecting a product, try to find one that is amusing and has obviously been poorly marketed in terms of packaging, brand name, or general lack of appeal to U.S. consumers. Take notes on these products.

As the foreign marketer of your chosen product, put together a strategy for marketing it in the United States. You have the opportunity to keep the product the way it is or to change it completely. Consider the additional costs associated with changing the product.

Using research from Chapter 5 in your textbook, write your response describing a global marketing strategy for your chosen product covering the following areas:

Checklist: address the following target market questions and those regarding the 4 P’s in your postings:

  1. Target market: Who should be the target market in the U.S.? What variables will be used to select the target market? The 4 P’s:
  2. Product: Will any adaptation be made to the product features? What about the packaging? The brand name?
  3. Price: What is a fair retail price for the product?
  4. Promotion: How will the product be communicated to the target market? What promotional message will be used? What media will be used to reach the target market?
  5. (Place) Distribution: Where will the product be sold? Will the product be sold on the Internet?

You might want to take a picture with your cell phone and attach it to your posted response in the Discussion area. You will be surprised at how creative and entertaining this exercise is!

References

Lamb, C. W., Hair, J. F., & McDaniel, C. (2014). MKTG7. Mason, OH: Cengage.