International Marketing Assignment
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Difficulties Within The Global Market And Their Significance On Your Planning
There are a lot of challenges which are to be faced by bottle water producer in Ghana in order to make sure that there are right actions and improvement for the quality. There is a requirement of a huge investment which the company will have to make sure that there is good placing and profit margins which they can have. The following report is going to discuss the challenges which are present (Gomes, Sousa and Vendrell-Herrero, 2020).
- Climatic patterns or changes
There is global warming due to which weather might disturb the products to be taken from one location to another. Ghana lacks the necessary resources to ensure that the necessary modifications are made to discover the best working conditions. It is also critical to ensure that the business has the appropriate equipment to achieve the desired level of production. Supplies must be brought into the company for the output level to increase in the long run.
- Foreign laws and regulations
Difference in the laws and regulations are present from one country to another and for the organization to operate effectively there are right decisions. Pandemic restrictions are present in the market currently which would make it difficult to expand on global level (Katsikeas, Leonidou and Zeriti, 2019).
Ghana is connected well with the other ports but the routes which are available in Ghana must make sure that they get the right supplies for themselves. Competition in the market is high therefore the company will have to make sure that they are having the right supplies to make the production level be according to the demand in the market.
Significance of planning
Bottled water producer will have to make sure that the technology which they are using is going to provide the customers with the right safety and health products. The technology will have to be set up in the countries in which they are expanding themselves (Cateora and et.al., 2020). To be able to overcome the challenges of having the right productivity and supplies the organization will have to get in the right technology and supplies in advance. The corporation would be able to reduce their market risks and ensure that the proper measures and improvements are being taken. Suppliers must be identified in the nations where the company is expanding, allowing them to become less reliant on shipping and transportation. A bottle water manufacturer would be able to efficiently analyse the market in which they are expanding so that they can build a strong foundation. The organization's goals and objectives must be aligned in order to find the best working and processing practises that will be beneficial to the organisation. Proper systematic working and making plans for the risks and challenges for globalising the organization has to be made by this producer (Hult and et.al., 2018). The organization's growth opportunities will be greater, and there will be a step-by-step manual for high-quality cost-cutting methods to be implemented.
Books and Journals
Cateora, P.R and et.al., 2020. International marketing. McGraw-Hill Education.
Gomes, E., Sousa, C.M. and Vendrell-Herrero, F., 2020. International marketing agility: conceptualization and research agenda. International Marketing Review.
Hult, G.T.M and et.al., 2018. Addressing endogeneity in international marketing applications of partial least squares structural equation modeling. Journal of International Marketing. 26(3). pp.1-21.
Katsikeas, C., Leonidou, L. and Zeriti, A., 2019. Revisiting international marketing strategy in a digital era: Opportunities, challenges, and research directions. International Marketing Review.