A. Market Description. List 3 potential global markets for your market development strategy. Describe the total market of the 3 potential global markets. Use graphs, charts for visual presentation. Provide the sources of information. (3 marks)
A. Selected Global Market. Select 1 global market for market development strategy. Justify your answer why you have chosen this global market over the 2 other global markets. List the main reasons why you have not chosen the 2 other global markets. (2 marks)
A. Trends and Developments. Analyse trends and developments of the selected global markets using PESTEL Analysis for potential impact on the business. (12 marks)
A. Quality Standards. Upon implementation of this market development strategy, explain how you can ensure that continued quality of products and services are met to existing customers in Australia and the global market. Research which national standards body is responsible for the chosen global market and identify other organisational requirements. (2 marks)
A. Key Competitors. Analyse the key competitors on the global market. Have a detailed comparison of the marketing mix – products, place, price and promotion of two major competitors.Use a table to plot and interpret data for visual presentation (features, prices, and others).
A. Resource Requirements. Estimate and explain 3 required resources for changes in operation and implementation of market development strategy.
A. Communication to Key Stakeholders. Draft a formal business email to your key stakeholders communicating the viability of making changes to current operations and implementation of market development strategy. (2 marks)
A. Over Performing and Underperforming Products: Visit Westfield Sydney Central Plaza and conduct a qualitative research. Identify one over-performing product and one under-performing product. Explain why it is necessary to identify these over-performing and under-performing products. (2 marks)