Capter one question and chapter 6 Case Study (International Business) Essay

Capter one question and chapter 6 Case Study (International Business) - Essay Example These ventures are also subject to restrictions that are not found locally. You can expect to face four different types of risk during this proposed expansion. Cultural risks include unfamiliar ethics and negotiation styles, while commercial risks come from potentially weak international partners, as well as increased operational costs. Additional threats come from currency differences, and country risks that are closely tied to the national political system of each participating nation. I hope that you will research these factors prior to launching an international campaign. I am certain that you will come to understand the importance of altered strategy in international business endeavors, at which time I would be happy to offer further assistance should you desire. The assigned case presents the factors that have allowed Hyundai to become a leading force in the international automobile industry. They are introduced as one of the few auto businesses to maintain profits during the global financial crisis of the late 2000s. Several suggestions are offered to explain the success. The company benefits from local influences like the availability of skilled labor for low costs, and the advantage of a weak domestic currency that made international customers interested in their products. Demanding South Korean consumers also inspired a highly competitive local market that requires consistently high quality, exceptional customer experience, and regular innovations in order to compete. These standards contributed to the original success of Hyundai entering foreign markets. Another important influence is global integration achieved through diversifying the locations of operations, though this also presents the threat of excess capacity. Hyundai`s success is ultimately attributed to their determination to remain committed to growth despite external financial crises. 1. The local population provides

Principles of Marketing Essay Example | Topics and Well Written Essays - 1500 words

Principles of Marketing - Essay Example The formulation of a long term marketing plan ensures that the resort remains a popular tourist destination and highly competitive. In 2007, Alton Towers joined Merlin Entertainment Group which is the second largest and the most dynamic tourist attraction (Fyall et al., 2008). Merlin manages tourist attractions, hotels and holiday villages in different parts of the world. The growth strategy involves the continuous investment in all the attractions to improve quality of the customer service and experience. The company also aims to develop the theme parks into short break resort destinations with the inclusion of accommodation options and more quality entertainment along the Alton Tower model. Alton Towers is the ninth most visited theme park in Europe and the most popular park in the UK. The park attracts approximately 2.7 million visitors annually (Alton Towers, 2010). The resort has developed a 10 year plan to remain a favorite tourist destination and to ensure its competitiveness. Upon finalization, the plan should be handed over to the Council to notify them about the review process for the production of a n ew (SPD) Supplementary Planning Document for Alton Towers. Alton Towers should consider its environment before choosing the marketing principles to apply. The internal environment is composed of the staff, office technology and the departments in the organizations. The micro environment is composed of the customers, distributors and suppliers while the macro environments is composed of the Political (Legal) forces, Economic, Socio-cultural and Technological forces which are popularly referred to as PEST (Hooley et al., 2004). These factors play an essential role in the creation of a marketing strategy. The success of an organization goes beyond the PEST analysis since it should consider the strengths, weaknesses, opportunities and threats which are referred to as the SWOT analysis. The resort has positioned itself