Business & Marketing Essay: International Marketing

Student’s Name
Instructor
Course
Date
International Marketing
Question 1
Canada's mining industry is one of the largest globally, with its gold production being ranked fifth globally as of 2019. In Canada, gold is the most valuable mined mineral. Notably, the largest production of gold happens in Ontario, followed by Quebec among various Canadian provinces (Katta, Kumar & Kumar 118718). In Canada, gold production is mainly done in hard-rock underground and open-pit mines.
The gold mining industry is faced with several challenges that result from several factors. One of the industry's problems is continued price fluctuations, which have resulted from varying global economic situations. Other challenges being experienced include climate change concerns, pressure for mining companies to reduce capital and operation costs, changing demographics have resulted in the inadequate workforce, expensive social license for mining companies, and infrastructure gaps, among others.
The gold industry, especially, price, has significantly been affected by the COVID-19 pandemic. In recent years, the price of gold has significantly depended on the value of the U.S. dollar. In essence, the price of gold is inversely proportional to the value of the dollar. Also, the price of gold is usually determined by the global jewelry demand. For example, in 2019, jewelry accounted for about 50% of gold demand (Katta, Kumar & Kumar 118718). The price of gold also depends on the rate of production in other gold mining countries. In recent years, these are some of the factors which have affected the price of gold.
Question 2
One of the markets in which Lululemon should expand is China due to the nation’s potential customers. Lululemon can expand into the Chinese market by opening physical stores and creating strong e-commerce platforms. The market strategy I would recommend is direct export, whereby Lululemon will produce its products in Canada and ship them into their new market as the approach will help the company have direct control over the mar...