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Global Marketing

Contents

Executive summary.

Introduction: Background research.

Environmental issues using PESTLE.

Political factors:

Economic Factors:

Social Factors:

Technological Factors:

Legal Factors:

Environmental Factors:

Interpretation.

Strengths of arguments.

Conclusion:

References:

Executive Summary of Environmental Analysis

This study states and describes about the different environmental factors and issues that Beechworth honey has to face if the company has to expand the business to the other regions like USA. This paper evaluates the potential threats and opportunities that can influence the Beechworth honey into the USA. The evaluation is prepared with the help of PESTLE analysis and how each component of this evaluation helps in stabilizing the company.

There are various factors through which beechworth honey can identify the threats and opportunities. These are;

  • Economic factors,
  • Political factors,
  • Legal factors,
  • Social cultural factor
  • Technological factor
  • Environmental factor

Introduction: Background Research

Entrenched in possible consumer’s behaviour, its culture, and various other social factors are playing a vital and paramount importance to the companies that aim to expand their business in to the global market such as Beechworth Honey. The model of busines, marketing strategies, and tactics and marketing methods and approaches of a business naturally influenced by various environmental factors about the company (Blackwell et.al, 2015). If the company is operating in a confined geographical sphere all the strategies of marketing methods usually follow a linear prototype that requires little changes according to the general market trends which are applicable to a specific area. When a business tries to expand its branches to other cultures as well, Beechworth Honey needs to adopt the marketing methods that will target the clients of the new regions. The merits of globalization are a proof that if business expands then it brings increased profit because Beechworth honey get more population who will buy the Beechworth honey’s products and services. Nevertheless, there are some demerits also that is associated with the internationalization of business, incorporating the costs that is incurred by the business in adapting their functions and operations and market these operation tactics to a location’s particular demand or the possible failure in defeating the new markets.

Globalization or Internationalization is the vague and much debated term, it generally indicates that businesses can extend their functions and operations in whole globe by launching or releasing the products and services to all the new geographical locations. The more general definition of the globalization is that it is an internationalization of business products or services that can succeed when Beechworth honey management takes into account of many components that are different to a location the company is aiming to defeat (Blackwell et.al, 2015). In the same way, this paper describes the environmental factors of Beechworth honey that will influence the international market by adopting various strategies of Beechworth honey company. Its main aim is to demonstrate the standard of globalization and the importance of effective and efficient employment of all the environmental evaluation model. The model which selects for this specific paper is the PESTLE evaluation. PESTLE stands for political, economic, social, technological, legal and environmental factors. PESTLE evaluation method is used to calculate the prevalence of particular regional factors in global business operations (Hollensen, 2017).

Environmental Issues using PESTLE

Glocalization as sated above, has its own challenges and rewards for the business that aims in taking over the share in the global market. As an international context, marketing is a costly and very complex function for the businesses. The different factors of environment influence the global marketing strategies of Beechworth Honey is more stringent in examples when firm want to expand its business at different locations in the USA according to different culture and behaviour. Culture is a very important factor that effect the success of the company in a specific region. The research and development operation of the firm has to take various factors into account such as political, environmental technological or legal elements that can help in effecting the success of the company at a new location.

All the global firms allocate very high budget for the development of the company’s development like marketing strategy and approaches, generally adapting this to include emergent trend of the market like maximize the concentration on digital media. The allocation of budget in the marketing to digital media by various multi national companies in the US has a great return on Investment, while the same approach in countries like Peru do not give same return on investment because the population is very less as compared to the US population. It may be a waste of time to do marketing in the countries like Peru. The PESTLE analysis helps the companies to take into the account all the factors related to macro environmental that can have a remarkable influence on the global marketing. All the variables are examined critically in the following paragraphs. The PESTLE analysis helps in outlining the hurdles that encounter in the international market and also the possible benefits that firms can enjoy after implementing the promotional strategies (Harvey, 2017).

Political Factors:

The region which is the USA where Beechworth Honey want to expand its business should have a political background that can affect the functions and operations within a specific region (Luo & Tung, 2007). The policies of tax controlled by the government can help the particular business to expand, if the company has to pay less tax then it is a goof benefit for Beechworth Honey to expand its branches in the entire USA. The stability of political in a region also influence the success of business in the international market. Beechworth Honey has to invest both, the time and money in order to uncover the sensitivity of the clients and to pass a specific message to the customers about the Beechworth Honey products. It will help in increasing the consumer base in the particular area or market. For instance, the products Beechworth Honey are every good for skin health so the company can target consumers according to the requirement. Products like artisan honey drinks can refresh the mood and it is delicious in taste.

Most of the government do not support the international firms in the country because they want to increase the domestic companies in all the country. However, if there is lack of something then government needs international companies to operate their functions in the USA. So this is the reason, Beechworth Honey needs to investigate more to target the consumers according to their need (Hall, 2016).

Economic Factors:

The most important tool of PESTLE analysis is economic factors. This tool has a considerable effect on the strategies of marketing of Beechworth Honey. The behaviour of the customers and their purchase intended to link the financial status of the consumer, the emotional relationship of the consumers with some products and the ability to maintain or create upon the customer’s social status. Advertising the products and marketing the products, both are depending on the emotional response to some messages and the potential of clients to attach the lifestyle of individual with the Beechworth Honey products. Various brand like luxury brand design their marketing strategy to appeal the customers financially and they only target the potent audiences. However, this tactic can be adapted according to the financial status of the customers and that region. In some affluent countries of the US, various companies don’t advertise of they advertise very less, as the companies know that their name is well established and their loyal customers are there to purchase the products. However, the Beechworth Honey needs to focus in investing al the area where there is no customer base of the company and increase the adverts8ing and marketing because people are less conscious here about Beechworth Honey.

Social Factors:

The social cultural factor is one of the most important factors to influence the great deal of the behaviour of local clients. The level of education is the demographics and the distribution of age, all contribute to the initiatives of marketing that executed by Beechworth Honey into any specific region.

As per various studies that evaluated the cultural factors and these factors indicate the sensitivity of culture which is of paramount importance in the sphere of business, that can extend to the marketing methods of global firms. The motivation of client’s purchase for the products of Beechworth Honey often stems from the importance that they perceived about the products and how the customers can include these products into their lifestyle. The examination that too very closely to the traditions in the ISA, their values, and other social interactions among customers in a region can help in leading the marketing of products and messages more successfully and methods developed by the global firm in a new region. if a client unable to identify the benefits of honey products and services encouraged by Beechworth Honey, the possibility that the clients will not buy those specific goods. There is very low possibility that all culture will perceive the same benefit of the products in the identical manner as the people of Australia are perceiving about the products of Beechworth Honey (Frank, 2015).

Technological Factors:

All the above factors are important but the customers also able to access some kind of technologies. For example, if Beechworth Honey wants to expands its business to the USA then the company has to launch some kind of app so that people can access this app easily and can make the choice from variety of products that what products they need to use (Dunning, 2013). Almost all the businesses that want to expand the business at different regions have developed their website and a lot of information or every information about the product is given on the website. As the customers use smartphones and they can access these websites and apps anytime whenever they need to buy some new products from Beechworth Honey. Developing a website is mandatory for Beechworth Honey for the USA people. It is good that both have common language that is English and the already existing website can be used by the people of the US. If the language will different then firm needs to develop a website according to the language of the particular region where the form needs to expand the business. Smartphones assist in buying the products, people don’t have to wait to go the shop for purchasing the product, people can order the products then and there only at the time of requirement. Some people don’t believe and they don’t tryst using these modern technologies, these things need to cater with the efforts from marketing in particular region to get success.

Legal Factors:

Protection of consumers, regulations in trade and restrictions are some legal factors that Beechworth Honey must aware of in the global marketing efforts. For instance, L’Oreal is a well-established brand of cosmetics, but it also has to change and alter the packaging and marketing of its products to abide the rules and regulation made by the specific country. If Beechworth Honey wants to expands the business and wants to increase the consumer base in the USA then it has to depend on the provocative messages and imagery, this should not go against the socio cultural perception of the possible clients in the countries of USA, it would be illegal. Sometimes global firms have been accused to monopolise some industries in the local market which impacts negatively on the overall reputation of the company and it also effect the local clients to perceive this Beechworth Honey like threat instead of healthy competition in the market. It is necessary to abide all the rules and regulation made by the government of the USA regarding trade. Beechworth Honey needs to ensure that no monopolise takes place in the market (Dallas, 2015).

Environmental Factors:

The most important factor that influence the behaviour of the customer is ethical behaviour of the firm with respect to the environment of the USA or any region where the company needs to expand the business. The awareness and education of local clients with respect to the importance of Beechworth Honey’s corporate social responsibility (CSR) contributes that the firm is concentrating on encouraging the ethical behaviour in a specific region. While the global trade rules and regulations imposed very much strict rules and laws in order to impact the businesses on the environment, social responsibility of the marketing is relevant in the USA. In simple words, concentrating on making and producing the more environmentally friendly approaches may lead to success in the particular region of the USA. The behaviour of the clients in the region is the first and foremost evaluated before Beechworth Honey launch their products and operations.

Interpretation

The term glocalization is very much innovative as it is the combination of two terms that is globalising or localising the operations by the company Beechworth Honey. It is necessary for Beechworth Honey to introduce its all the range of honey and all the products made up of honey introduce to the new region wherever the company want to expand the business. It also depends on the people of that region whether the people want to accept the products or services made by Beechworth honey. It is needed to check the products whether the products are culturally sensitive to the behaviour of customer of the particular region. Beechworth Honey can expand its business to that place only where the people require the honey and the products made up of honey. This is the key to success in the globalization of business (Michael, 2015).

Strengths of Arguments

Most of the successful businesses adopted this strategy to make the business expand at different locations after knowing the behaviour of the people at the particular location incorporating McDonalds, Starbucks and Coca-Cola. These businesses are very successful and likewise, Beechworth Honey can also be very successful by adopting this glocalization technique. These businesses that are very successful demonstrates a responsiveness and sensitivity to the present cultural biases in their functions and operations and other marketing methods. For instance, Starbucks has variegated their services and products to different markets of the Asian countries that includes green tea also to their customers according to the pattern of customer behaviour that indicates the high consumption of products including green tea. Similarly, Beechworth Honey can offer its honey products in the different locations of USA including cosmetics range of its products by check the behaviour of the customers patters so that the customer base increase of the Beechworth Honey in the USA.

Conclusion on Environmental Analysis

The PESTLE factors that stated above indicate that one size of the company may fit at all the approaches is not necessary for the international marketing methods and strategies. There are various factors that influence the marketing and adverting strategy if Beechworth Honey wants to expand its business in the USA or in any other country. It takes a lot of completion to stabilize the brand into the other international location. Sometimes, the marketing initiatives globally may also prove harmful to the Beechworth Honey from the cost perspective, from the environment perspective, from the legal factor perspective and from many other perspective. All the things have to keep in mind while advertising and marketing the products in the international market. Following rules and regulation according to the US government is also very necessary to get the benefit in the international market. It is necessary for Beechworth Honey to understand the culture of the USA and then apply different operations and initiatives of marketing of the Beechworth Honey to prove that the firm is interested in understanding the behaviour of the consumer base (Bradley, 2019).

References for Environmental Analysis

Blackwell, R. D., Miniard, P. W. and Engel, J. F. (2015). Consumer Behaviour. London: Thomson-South Western

Bradley, F. (2019). International Marketing Strategy. London: Prentice Hall.

Czinkota, M.R. and Ronkainen, I.A. (2017). International Marketing. London: Thomson-South Western.

Dallas, S. (2015, May 15). Rule no. 1: Don’t diss the locals. Business Week [online]. Available from: http://www.businessweek.com/archives/1995/b342416.arc.htm [Accessed 2nd Sept, 2020]

Frank, V. H. (2015). Living with price control aboard. Harvard Business Review, Vol. 62, March-April, 137-142.

Hall, E. T. (2016). Beyond Culture. Doubleday: Anchor Press.

Harvey, M. G. (2017). A survey of corporate programs for managing terrorist threats. Journal of International Business Studies [online]. Vol. 24, No. 3, 465-478. Available from: JSTOR [Accessed 19 January 2010].

Hollensen, S. (2017). Global Marketing: A Decision-Oriented Approach. London: Prentice Hall.

Usunier, J. C. (2019). Marketing Across Cultures. London: Prentice Hall.

WTO (2019). International Trade Statistics 2009. WTO. Available from: http://www.wto.org/english/res_e/statis_e/its2009_e/its2009_e.pdf [Accessed 2nd Sept, 2020]

WTO (2016). Understanding the WTO. WTO. Available from: http://www.wto.org [Accessed 2nd Sept, 2020]

Short Course in International Marketing Blunders. (n.d.). Marketing Mistakes Made by Companies that Should Have Known Better (3rd Edition)

Rique AND Sumeet. (2019, Feb 9). International Marketing Environment. Available from https://globalmarketingprofessor.com/international-marketing-environment/. [Accessed 2nd Sept, 2020]

Jaideep, S. (n.d.). International Marketing Environment. Available from https://www.yourarticlelibrary.com/marketing/international-marketing-environment-with-diagram/48738. [Accessed 2nd Sept, 2020]

Theodore, L. (2018, May). “The Globalization of Markets.” Harvard Business Review. pp. 92-102.

Michael, S. (2015, February 2). “More Small Firms Are Turning to Trade Intermediaries”. The Wall Street Journal, p. B2.

Henry, H. and Michael, K. (2018, August 14). “Interactive Marketing in Europe”. Direct Marketing. pp.,98-101.

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