Elements and Performance Criteria
- Review global market environment
- Assess international trade patterns and identify their likely importance for the business
- Research international business and electronic commerce market factors, and assess opportunities to enter, shape or influence the market for their likely contribution to the business
- Identify international markets operating under free trade or protectionist arrangements and estimate likely ease of entering and trading successfully
- Identify international trade policies and agreements and estimate their likely impact on international marketing opportunities
- Assess international business and electronic commerce market factors
- Identify and analyse impact of economic, political, social and cultural factors affecting international marketing opportunities
- Investigate international market trends and developments to identify market needs relevant to the business
- Identify new and emerging business and electronic commerce markets, and assess opportunities to enter, shape or influence markets based on their fit with business goals and direction, and their likely contribution to the business
- Identify risk factors for international marketing opportunities
- Analyse and rate acceptability of political, financial stability and corruption risk factors of potential market
- Analyse and rate acceptability of legal and regulatory requirements, and trade barriers to potential market
- Relate risk factors to international business cycles in terms of economic conditions and estimate their impact on potential market
- Investigate international business and electronic commerce marketing opportunities
- Identify and analyse international marketing opportunities according to their likely fit with the organisation’s goals and capabilities
- Evaluate each opportunity to determine its impact on current business and customer base
- Use an assessment of costs, benefits, risks and opportunities to determine financial viability of each marketing opportunity
- Determine probable return on investment and potential competitors
- Describe and rank marketing opportunities in terms of viability and likely contribution to the business