Business finance - management week 2 assignment

Week2Lecture.docx

Week 2 Lecture

This week we continue to look at various elements as they relate to global marketing. Our readings this week focus on social and cultural influences in addition to political, legal and regulatory environments. In addition, we have an activity this week that is based on market research, which will be reviewed in this lecture.

Let’s start by identifying what social and cultural influences are as they pertain to marketing. According to Adams (2019), “social environmental forces are those forces that involve attitudes and shared beliefs of the population” (para 1). When looking at social environmental forces there are four areas to consider; population demographics, Time Consciousness, shifting gender roles and Environmental Consciousness (2019). Looking at the cultural influences, “culture refers to the influence of religious, family, educational, and social systems on people, how they live their lives, and the choices they make” (Lumen, n.d., para1). When studying culture in relation to marketing, there are several areas to consider, these include; language, customs and taboos, values, time and punctuality, business norms and religious beliefs and celebrations. Next is the political, legal and regulatory environments. It has been seen that the “political, legal, and regulatory forces of the marketing environment are closely interrelated. The political environment may determine what laws and regulations affecting specific marketers are enacted and how much the government purchases and from which suppliers. It can also be important in helping organizations secure foreign markets” (South-Western Cengage Learning, n.d., para5). All of these factors that play an essential role in marketing can best be analyzed by using a PESTEL analysis, which stands for political, economic, social, technology, environmental and legal.

Below are two videos that tie into culture and global marketing:

How Cultural Differences Affect Business Links to an external site.

The Art of Marketing in a Global CultureLinks to an external site.

Next, we will look at market research and its role with global marketing. According to Business Jargons (n.d.), Market research “is the systematic collection, analysis, and interpretation of data pertaining to the marketing conditions (para 1). One of the main reasons why market research is needed is to identify changes in consumer behavior, which may be impacted by the marketing mix (price, product, place and promotion) (n.d.). When conducting marketing research there are six steps required. These steps include; 1. Define the objective & your “problem,” 2. Determine Your “Research Design,” which may include; Exploratory Research, Descriptive Research or Causal Research. 3. Design & Prepare Your “Research Instrument, ” 4. Collect Your Data, 5. Analyze Your Data and 6. Visualize Your Data and Communicate Results (Market Research Guy, 2019, para 2-12).

References

Adams, Daphne. (2019). Social environmental forces in marketingLinks to an external site. . https://smallbusiness.chron.com/social-environmental-forces-marketing-22612.html

Business Jargons. (n.d.). Marketing researchLinks to an external site. . https://businessjargons.com/marketing-research.html

Lumen. (n.d.). Cultural factors shaping the global marketing environmentLinks to an external site. . https://courses.lumenlearning.com/marketing-spring2016/chapter/reading-cultural-factors-shaping-the-global-marketing-environment/

Market Research Guy. (2019, Apr 16). The market research process: 6 steps to successLinks to an external site. . https://www.mymarketresearchmethods.com/the-market-research-process-6-steps-to-success/

The Lavin Agency Speakers Bureau. (2014, December 10). How cultural differences affect business Links to an external site. [Video]. Youtube. https://youtube.com/watch?v=7CEW4Yfm_2o&feature=youtu.be

Cengage Learning. (n.d.). Marketing environmentLinks to an external site. . http://college.cengage.com/business/pride/marketing/14e/assets/students/chsummary/summary3.html

Van Quan, Nguyen. (2017, June 15). The art of marketing in a global culture Links to an external site. [Video]. Youtube. https://youtu.be/dhLWm0R6cFE

image1.jpeg

Week2Assignment.docx

Prior to beginning work on this assignment, review Chapter 4: Social and Cultural Environments, Chapter 5: The Political, Legal, and Regulatory Environments, and Chapter 6: Global Information Systems and Market Research. Watch the BUS622 Week Two | AssignmentLinks to an external site. video with Steve Forbes and the BUS622 Week TwoLinks to an external site. video with the Program Chair for BA of Operations and Analysis, Bill Davis.

This assignment will give you a head start for your Week 6 - Final Paper that will be completed at the end of the course. As Part 1 of this assignment, you will choose a “mentor company” that you will refer to throughout this course.

In your paper,

· Identify a large company (Airbnb) to analyze and formulate its global marketing strategy.

Under an Environmental Analysis heading,

· Construct an environmental analysis for your chosen company in the global arena and regarding the below factors:

· economic

· trade

· social and cultural

· sustainability

· political, legal, and regulatory

Under a General Strategy heading,

· Choose the appropriate option:

· (1) Identify a country in one of the following regions for your company to expand to, based on your environmental analysis:

· Latin America

· Middle East

· Africa

· (2) Identify if your company has already expanded into the country you select in the regions listed above.

· Examine their global marketing strategy in that area.

· Formulate your own successful strategy.

· Explain your rationale for selecting the country in one of those regions.

· Explain how the following criteria in that selected region, and particularly in your selected country, were incorporated into your rationale:

· demographic

· economic

· trade

· social factors

· cultural factors

· legal factors

· political factors

Consider reviewing Company Research in the UAGC LibraryLinks to an external site. and Country Profiles in the UAGC LibraryLinks to an external site. tip sheets to assist you with your assignment.

The Global Marketing Plan Part 1 paper

· Must be four to five double-spaced pages of text in length (not including title, abstract, visuals, and references pages) and formatted according to APA style as outlined in the Writing Center’s  APA Style Links to an external site. as outlined in the Writing Center’s APA Formatting for Microsoft Word Links to an external site. resource.

· Must include a separate title page with the following:

· Title of paper in bold font

· Space should appear between the title and the rest of the information on the title page.

· Student’s name

· Name of institution (The University of Arizona Global Campus)

· Course name and number

· Instructor’s name

· Due Date

· Page 2 Abstract (if your instructor requires) or intentionally leave blank. Note: The abstract states main topics covered in the paper.

· Page 3 starts with the Executive Summary covers the highlights of the marketing plan and is considered a type of sales pitch. The paper continues into other topics with no page break.

· Must use at least two scholarly sources in addition to the course text, as well as citations for visuals.

· The Scholarly, Peer-Reviewed, and Other Credible Sources Links to an external site. table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.

· Must document any information used from sources in APA Style as outlined in the Writing Center’s APA: Citing Within Your Paper Links to an external site. guide.

· Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References List Links to an external site. resource in the Writing Center for specifications.

RequiredResourcesWK2.docx

Required Resources

Text

Green, M. C., & Keegan, W. J. (2020). Global marketing (10th ed.) . Pearson.

· Chapter 4: Social and Cultural Environments

· Chapter 5: The Political, Legal, and Regulatory Environments

· Chapter 6: Global Information Systems and Market Research

· The full-text version of this ebook is available in your online classroom through the VitalSource platform. Chapter 4 discusses key aspects of high- and low-context cultures, takes a deeper look at cultures, and identifies the various expressions and manifestations of culture that can impact global marketing strategies. Chapter 5 discusses elements of a country’s political environment that can impact global marketing activities. Chapter 6 discusses the roles of information technology, management information systems, and big data in a global company’s decision-making processes. In addition, it identifies individual steps in the traditional market research process and explains some of the ways global marketers adapt them. These chapters will assist you in your Surviving Global Environments discussion forum and your Global Marketing Plan Part 1 assignment this week. Chapter 6 will assist you in your Introduction to Data and Technology discussion forum.

Multimedia

Alux.com. (2017, March 31). 15 things you didn’t know about Pepsi Links to an external site. [Video]. YouTube. https://youtu.be/WSitLk5sc2s

· This video discusses the start of Pepsi, its rivalry with Coca-Cola, the marketing strategy which saved it from bankruptcy, and its current products in the global market. This video will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Amazon. (2016, December 5). Introducing Amazon Go and the world’s most advanced shopping technology Links to an external site. [Video]. YouTube. https://youtu.be/NrmMk1Myrxc

· This video provides information about Amazon Go and will assist you in your Introduction to Data and Technology discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Hustle TV. (2020, June 28). PepsiCo success story / List of brands PepsiCo owns / How PepsiCo got so big?Links to an external site. [Video] YouTube. https://www.youtube.com/watch?app=desktop&v=9JSIUGHokpA

· This video will show “the story of PepsiCo and the list of brands PepsiCo Owns” (Hustle TV, 2020, para 1).. This video will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

ThoughtCatalyst. (2017, October 5). The secret behind Coca-Cola marketing strategy Links to an external site. [Video]. YouTube. https://youtu.be/XhMVWzVXNNk

· This video discusses Coca-Cola’s history and global marketing strategies, including the “happiness” and “share a coke” campaigns. This will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

University of Arizona Global Campus. (2019, January 10). BUS622 week twoLinks to an external site. [Video]. Kaltura. https://ashford.mediaspace.kaltura.com/media/1_jwguyj5n

· This video provides information about the course assignments, including the marketing plan, and will assist you in your Global Marketing Plan Part 1 assignment this week. This video has closed captioning and a transcript. Accessibility Statement Privacy Policy

University of Arizona Global Campus. (2019, May 2). BUS622 week two | AssignmentLinks to an external site. [Video]. Kaltura. https://ashford.mediaspace.kaltura.com/media/0_3gkypvol

· This video provides information about an interview with Steve Forbes as it relates to global marketing and will assist you in your Global Marketing Plan Part 1 assignment this week. This video has closed captioning and a transcript. Accessibility Statement Privacy Policy

World Economic Forum. (2011, January 6). Davos 2011 - Muhtar Kent, CEO, Coca-Cola Links to an external site. [Video]. YouTube. https://youtu.be/yWzq_BJQfHM

· This video features a former Coca-Cola CEO, Muhtar Kent, who discusses changes in the global market. This video will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Webpages

Kelly, H. (2018, January 26). Inside Amazon Go: The store of the futureLinks to an external site. . CNN Business. https://money.cnn.com/2018/01/26/technology/amazon-go-store/index.html

· This webpage article provides information about Amazon Go and will assist you in your Introduction to Data and Technology discussion forum this week. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Procter & Gamble. (n.d.). BrandsLinks to an external site. . https://us.pg.com/brands/

· This webpage provides a list with information about product brands that are part of the Procter & Gamble (P&G) company and will assist you in your Surviving Global Environments discussion forum this week. Privacy PolicyLinks to an external site.

Week2Lecture.docx

Week 2 Lecture

This week we continue to look at various elements as they relate to global marketing. Our readings this week focus on social and cultural influences in addition to political, legal and regulatory environments. In addition, we have an activity this week that is based on market research, which will be reviewed in this lecture.

Let’s start by identifying what social and cultural influences are as they pertain to marketing. According to Adams (2019), “social environmental forces are those forces that involve attitudes and shared beliefs of the population” (para 1). When looking at social environmental forces there are four areas to consider; population demographics, Time Consciousness, shifting gender roles and Environmental Consciousness (2019). Looking at the cultural influences, “culture refers to the influence of religious, family, educational, and social systems on people, how they live their lives, and the choices they make” (Lumen, n.d., para1). When studying culture in relation to marketing, there are several areas to consider, these include; language, customs and taboos, values, time and punctuality, business norms and religious beliefs and celebrations. Next is the political, legal and regulatory environments. It has been seen that the “political, legal, and regulatory forces of the marketing environment are closely interrelated. The political environment may determine what laws and regulations affecting specific marketers are enacted and how much the government purchases and from which suppliers. It can also be important in helping organizations secure foreign markets” (South-Western Cengage Learning, n.d., para5). All of these factors that play an essential role in marketing can best be analyzed by using a PESTEL analysis, which stands for political, economic, social, technology, environmental and legal.

Below are two videos that tie into culture and global marketing:

How Cultural Differences Affect Business Links to an external site.

The Art of Marketing in a Global CultureLinks to an external site.

Next, we will look at market research and its role with global marketing. According to Business Jargons (n.d.), Market research “is the systematic collection, analysis, and interpretation of data pertaining to the marketing conditions (para 1). One of the main reasons why market research is needed is to identify changes in consumer behavior, which may be impacted by the marketing mix (price, product, place and promotion) (n.d.). When conducting marketing research there are six steps required. These steps include; 1. Define the objective & your “problem,” 2. Determine Your “Research Design,” which may include; Exploratory Research, Descriptive Research or Causal Research. 3. Design & Prepare Your “Research Instrument, ” 4. Collect Your Data, 5. Analyze Your Data and 6. Visualize Your Data and Communicate Results (Market Research Guy, 2019, para 2-12).

References

Adams, Daphne. (2019). Social environmental forces in marketingLinks to an external site. . https://smallbusiness.chron.com/social-environmental-forces-marketing-22612.html

Business Jargons. (n.d.). Marketing researchLinks to an external site. . https://businessjargons.com/marketing-research.html

Lumen. (n.d.). Cultural factors shaping the global marketing environmentLinks to an external site. . https://courses.lumenlearning.com/marketing-spring2016/chapter/reading-cultural-factors-shaping-the-global-marketing-environment/

Market Research Guy. (2019, Apr 16). The market research process: 6 steps to successLinks to an external site. . https://www.mymarketresearchmethods.com/the-market-research-process-6-steps-to-success/

The Lavin Agency Speakers Bureau. (2014, December 10). How cultural differences affect business Links to an external site. [Video]. Youtube. https://youtube.com/watch?v=7CEW4Yfm_2o&feature=youtu.be

Cengage Learning. (n.d.). Marketing environmentLinks to an external site. . http://college.cengage.com/business/pride/marketing/14e/assets/students/chsummary/summary3.html

Van Quan, Nguyen. (2017, June 15). The art of marketing in a global culture Links to an external site. [Video]. Youtube. https://youtu.be/dhLWm0R6cFE

image1.jpeg

Week2Assignment.docx

Prior to beginning work on this assignment, review Chapter 4: Social and Cultural Environments, Chapter 5: The Political, Legal, and Regulatory Environments, and Chapter 6: Global Information Systems and Market Research. Watch the BUS622 Week Two | AssignmentLinks to an external site. video with Steve Forbes and the BUS622 Week TwoLinks to an external site. video with the Program Chair for BA of Operations and Analysis, Bill Davis.

This assignment will give you a head start for your Week 6 - Final Paper that will be completed at the end of the course. As Part 1 of this assignment, you will choose a “mentor company” that you will refer to throughout this course.

In your paper,

· Identify a large company (Airbnb) to analyze and formulate its global marketing strategy.

Under an Environmental Analysis heading,

· Construct an environmental analysis for your chosen company in the global arena and regarding the below factors:

· economic

· trade

· social and cultural

· sustainability

· political, legal, and regulatory

Under a General Strategy heading,

· Choose the appropriate option:

· (1) Identify a country in one of the following regions for your company to expand to, based on your environmental analysis:

· Latin America

· Middle East

· Africa

· (2) Identify if your company has already expanded into the country you select in the regions listed above.

· Examine their global marketing strategy in that area.

· Formulate your own successful strategy.

· Explain your rationale for selecting the country in one of those regions.

· Explain how the following criteria in that selected region, and particularly in your selected country, were incorporated into your rationale:

· demographic

· economic

· trade

· social factors

· cultural factors

· legal factors

· political factors

Consider reviewing Company Research in the UAGC LibraryLinks to an external site. and Country Profiles in the UAGC LibraryLinks to an external site. tip sheets to assist you with your assignment.

The Global Marketing Plan Part 1 paper

· Must be four to five double-spaced pages of text in length (not including title, abstract, visuals, and references pages) and formatted according to APA style as outlined in the Writing Center’s  APA Style Links to an external site. as outlined in the Writing Center’s APA Formatting for Microsoft Word Links to an external site. resource.

· Must include a separate title page with the following:

· Title of paper in bold font

· Space should appear between the title and the rest of the information on the title page.

· Student’s name

· Name of institution (The University of Arizona Global Campus)

· Course name and number

· Instructor’s name

· Due Date

· Page 2 Abstract (if your instructor requires) or intentionally leave blank. Note: The abstract states main topics covered in the paper.

· Page 3 starts with the Executive Summary covers the highlights of the marketing plan and is considered a type of sales pitch. The paper continues into other topics with no page break.

· Must use at least two scholarly sources in addition to the course text, as well as citations for visuals.

· The Scholarly, Peer-Reviewed, and Other Credible Sources Links to an external site. table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.

· Must document any information used from sources in APA Style as outlined in the Writing Center’s APA: Citing Within Your Paper Links to an external site. guide.

· Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References List Links to an external site. resource in the Writing Center for specifications.

RequiredResourcesWK2.docx

Required Resources

Text

Green, M. C., & Keegan, W. J. (2020). Global marketing (10th ed.) . Pearson.

· Chapter 4: Social and Cultural Environments

· Chapter 5: The Political, Legal, and Regulatory Environments

· Chapter 6: Global Information Systems and Market Research

· The full-text version of this ebook is available in your online classroom through the VitalSource platform. Chapter 4 discusses key aspects of high- and low-context cultures, takes a deeper look at cultures, and identifies the various expressions and manifestations of culture that can impact global marketing strategies. Chapter 5 discusses elements of a country’s political environment that can impact global marketing activities. Chapter 6 discusses the roles of information technology, management information systems, and big data in a global company’s decision-making processes. In addition, it identifies individual steps in the traditional market research process and explains some of the ways global marketers adapt them. These chapters will assist you in your Surviving Global Environments discussion forum and your Global Marketing Plan Part 1 assignment this week. Chapter 6 will assist you in your Introduction to Data and Technology discussion forum.

Multimedia

Alux.com. (2017, March 31). 15 things you didn’t know about Pepsi Links to an external site. [Video]. YouTube. https://youtu.be/WSitLk5sc2s

· This video discusses the start of Pepsi, its rivalry with Coca-Cola, the marketing strategy which saved it from bankruptcy, and its current products in the global market. This video will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Amazon. (2016, December 5). Introducing Amazon Go and the world’s most advanced shopping technology Links to an external site. [Video]. YouTube. https://youtu.be/NrmMk1Myrxc

· This video provides information about Amazon Go and will assist you in your Introduction to Data and Technology discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Hustle TV. (2020, June 28). PepsiCo success story / List of brands PepsiCo owns / How PepsiCo got so big?Links to an external site. [Video] YouTube. https://www.youtube.com/watch?app=desktop&v=9JSIUGHokpA

· This video will show “the story of PepsiCo and the list of brands PepsiCo Owns” (Hustle TV, 2020, para 1).. This video will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

ThoughtCatalyst. (2017, October 5). The secret behind Coca-Cola marketing strategy Links to an external site. [Video]. YouTube. https://youtu.be/XhMVWzVXNNk

· This video discusses Coca-Cola’s history and global marketing strategies, including the “happiness” and “share a coke” campaigns. This will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

University of Arizona Global Campus. (2019, January 10). BUS622 week twoLinks to an external site. [Video]. Kaltura. https://ashford.mediaspace.kaltura.com/media/1_jwguyj5n

· This video provides information about the course assignments, including the marketing plan, and will assist you in your Global Marketing Plan Part 1 assignment this week. This video has closed captioning and a transcript. Accessibility Statement Privacy Policy

University of Arizona Global Campus. (2019, May 2). BUS622 week two | AssignmentLinks to an external site. [Video]. Kaltura. https://ashford.mediaspace.kaltura.com/media/0_3gkypvol

· This video provides information about an interview with Steve Forbes as it relates to global marketing and will assist you in your Global Marketing Plan Part 1 assignment this week. This video has closed captioning and a transcript. Accessibility Statement Privacy Policy

World Economic Forum. (2011, January 6). Davos 2011 - Muhtar Kent, CEO, Coca-Cola Links to an external site. [Video]. YouTube. https://youtu.be/yWzq_BJQfHM

· This video features a former Coca-Cola CEO, Muhtar Kent, who discusses changes in the global market. This video will assist you in your Surviving Global Environments discussion forum this week. This video has closed captioning and a transcript. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Webpages

Kelly, H. (2018, January 26). Inside Amazon Go: The store of the futureLinks to an external site. . CNN Business. https://money.cnn.com/2018/01/26/technology/amazon-go-store/index.html

· This webpage article provides information about Amazon Go and will assist you in your Introduction to Data and Technology discussion forum this week. Accessibility StatementLinks to an external site. Privacy PolicyLinks to an external site.

Procter & Gamble. (n.d.). BrandsLinks to an external site. . https://us.pg.com/brands/

· This webpage provides a list with information about product brands that are part of the Procter & Gamble (P&G) company and will assist you in your Surviving Global Environments discussion forum this week. Privacy PolicyLinks to an external site.

Business Finance - Management Week 2 Assignment

Week2Lecture.docx

Week2Assignment.docx

RequiredResourcesWK2.docx

Week2Lecture.docx

image1.jpeg

Week2Assignment.docx

RequiredResourcesWK2.docx

Week2Lecture.docx

image1.jpeg