StockX in China Business & Marketing Essay Research (Essay Sample)
This is a big project, which is divided into three parts. My content is to introduction company StockX to China, so parts 1 and 2 are both analytical China. I've done a bit of the first part, but the repetition rate on turnitin is too high. I hope you can help me correct of part1. Also I didn't write summary yet, please add summary. Please proceed according to the requirements I sent you, thank you.
IB 434: Full Semester Research Assignment and Activity
This is a full semester cultural, marketing and business plan project designed for individuals to complete their International Business Capstone Course (IB434). Students should choose a country and a product / service from a real company that is not currently found in the targeted country and devise a cultural analysis and marketing/business plan for the chosen country.
For example, students can choose to market an automobile from the United States into a foreign country or can choose to market an automobile into the United States that is not currently available here.
Each student should make contact with the chosen company within the first two weeks of the course (or earlier) to 1) let them know that their company has been selected and that it will be the focus of the student’s project, 2) to request any support that may be available during the project, and 3) to request specific names from the company that would be willing to receive the completed project and make comments for the overall benefit of the student.
Given the above, students should give much thought to the company/industry and country for this project. You should choose a company that you could see yourself working for in the future or at least plan on applying for a position upon graduation.
Cultural Analysis: The data suggested in the cultural analysis includes information that helps the marketer make market-planning decisions. However, its application extends beyond product and market analysis to being an important source of information for someone interested in understanding business customs and other important cultural features of the country. This cultural analysis is composed of two parts: information on the cultural makeup of the country and the economic analysis of the country.
The information in this analysis must be more than a collection of facts. In preparing this material, you should attempt to interpret the meaning of cultural information. With that said, your country analysis should contain at least one paragraph on each of the following areas:
PART I: Introduction to the Culture of the Country
I. Include short profiles of the company, the product to be exported and the country with which you wish to trade.
II. Brief discussion of the country’s relevant history
III. Geographical setting
IV. Social institutions
i) The nuclear family
ii) The extended family
iii) Dynamics of the family
(1) Parental roles
(2) Marriage and courtship
i) The role of education in society
(1) Primary education (quality, levels of development, etc)
(2) Secondary education (quality, levels of development, etc.)
(3) Higher education (quality, levels of development, etc.)
ii) Literacy rates
c) Political System
i) Political structure
ii) Political Parties
iii) Stability of government
iv) Special taxes
v) Role of local government
d) Legal System
i) Organization of the judiciary system
ii) Code, common, socialist, or Islamic-law country?
iii) Participation in patents, trademarks and other conventions
i) Group behavior
ii) Social classes
iii) Clubs, other organizations
iv) Race, ethnicity and subcultures
f) Business customs and practices
V. Religion and aesthetics
a) Religion and other belief systems
i) Orthodox doctrines and structures
ii) Relationship with the people
iii) Which religions are prominent?
iv) Membership of each religion
v) Any powerful or influential cults?
i) Visual arts (fine arts, plastics, graphics, public arts, colors etc.)
iii) Drama, ballet, and other performing arts
iv) Folklore and relevant symbols
VI. Living conditions
a) Diet and nutrition
i) Meat and vegetable consumption rates
ii) Typical meals
iii) Malnutrition rates
iv) Foods available
i) Types of housing available
ii) Do most people own or rent?
iii) Do most people live in one-family dwellings or with other families?
i) National dress
ii) Types of clothing worn at work
d) Recreation, sports, and other leisure activities
i) Types available and in demand
ii) Percentage of income spent on such activities
e) Social security
f) Health Care
a) Official language(s)
b) Spoken versus written language(s)
VIII. Executive Summary
After completing all of the other sections, prepare a two-page (maximum length) summary of the major points and place it at the front of the report. The purpose of an executive summary is to give the reader a brief glance at the critical points of your report. Those aspects of the culture a reader should know to do business in the country but would not be expected to know or would find different based on his or her home country should be included in this summary.
IX. Sources of information
PART II: The Economic Analysis of the Country
You may find the data collected for the economics analysis guideline are more straightforward than for the cultural analysis guideline. There are two broad categories of information in this guideline: general economic data that serve as a basis for an evaluation of the economic soundness of a country and information on channels of distribution and media availability. As mentioned earlier, the guideline focuses only on broad categories of data and must be adapted to the particular company and its product needs. With that said, write at least one (1) paragraph for each of these sections.
i) Growth rates
ii) Number of live births
iii) Birth rates
b) Distribution of population
iii) Geographic areas (urban suburban, and rural density and concentration)
iv) Migration rates and patterns
v) Ethnic groups
III. Economic statistics and activity
c) Gross national product (GNP or GDP)
- Rate of growth (Real GNP or GDP)
- Personal income per capita
- Average family income
d) Distribution of wealth
i) Income classes
ii) Proportion of the population in each class
iii) Is the distribution distorted?
e) Minerals and resources
f) Surface transportation
iii) Usage rates
g) Communication systems
iii) Usage rates
h) Working conditions
i) Employer-Employee relations
ii) Employee participation
iii) Salaries and benefits
i) Principal industries
i) What proportion of the GNP does each industry contribute?
ii) Ratio of private to publicly owned industries
j) Foreign Investment
ii) Which industries?
k) International trade statistics
i) Major exports
(1) Dollar value
ii) Major imports
(1) Dollar value
iii) Balance-of-payments situation
(1) Surplus or deficit?
(2) Recent trends
iv) Exchange rates
(1) Single or multiple exchange rates?
(2) Current rate of exchange
l) Trade restrictions
iii) Import taxes
vi) Customs duties
m) Extent of economic activity not included in cash income activities
i) Counter trades
(1) Products generally offered for counter trading
(2) Types of counter trades requested (i.e. barter, counter purchase, etc.)
(3) Foreign aid received
n) Labor force
ii) Unemployment rates
- o) Inflation rates
IV. Developments in science and technology
a) Current technology available (computers, machinery, tools etc.)
b) Percentage of GNP invested in research and development
c) Technological skills of the labor force and general population
V. Channels of distribution (macro analysis)
This section reports data on all channel middlemen available within the market. Select a specific channel as part of your distribution strategy for your marketing plan
i) Number of retailers
ii) Typical size of retail outlets
iii) Customary markup for various classes of goods
iv) Methods of operation (cash/credit)
v) Scale of operation (large/small)
vi) Role of chain stores, department stores specialty shops
b) Wholesale middlemen
i) number and size
ii) Customary markup for various classes of goods
iii) Method of operation (cash/credit)
c) Import/Export agents
e) Penetration of urban and rural markets
This section reports data on all media available within the country or market. Select specific media as part of the promotional mix and strategy for your marketing plan.
a) Availability of media
iv) Other media (cinema, outdoor etc.)
c) Agency assistance
d) Coverage of various media
e) Percentage of population reached by each of the media
VII. Executive summary
After completing the research for this report, prepare a two-page (maximum) summary of the major economic points and place it at the front of the report
VIII. Sources of information
PART III: Company/Product fit or opportunity
Now that the majority of work is complete, the capstone project will be concluded with the student showing his/her ability to connect the product offering with the previous analysis to show that there is a market fit. This can take the form of a product extension that can be made available in a new market or a newly created product offering that the company should consider.
- Situation and Competitive Analysis
- Product Key Success Factors
THE MARKETING PLAN – Your Final EXAM
Market-oriented firms build strategic market plans around company objectives, markets and the competitive environment. Planning for marketing can be complicated even for one country, but when a company is doing business internationally, the problems are multiplied. Company objectives may vary from market to market and from time to time; the structure of international markets also changes periodically and from country to country; and the competitive, governmental, and economic parameters affecting market planning are in a constant state of flux. These variations require international marketing executives to be specially flexible and creative in their approach to strategic marketing planning.
PART III: Market Audit and Competitive Market Analysis
“MORE TO COME”
StockX in China
Part I Summary of Aspects of culture
There are important components of Chinese culture that are crucial for the establishment of this business that includes the literature, visual arts, philosophy, politics, business etiquette, religion, history and the extent of their influence globally. Demographically, China being one of the country’s with highest population in the world has the majority 92% represented by the Han Chinese. Sichuan province is considered the most densely populated region in China with a majority of those falling under minority group living within the periphery or outside China with the population changing over the years. Mandarin Chinese represents the official national language and in other terms also referred to as Putonghua as per the dialect in Beijing dialect. However, the current spoken language in Chinese is referred to as Bai Hua. At the same time, the system applicable in writing remains the same for the different language dialect however complicated they are to learn. The written language consists of close to 60,000 characters whereby only 5,000 characters are applicable currently. The Chinese language is written on pictographs, symbols replacing sounds in representing concepts.
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