Market Analysis Assignment Help
a. Describes the importance of cultural understanding in market entry and development.
b. Researched and analyzed the culture of the chosen nation using the Hofstede framework.
c. Finalized the four distinct parts of the project; MIR, BEAR, ROME, and MESA.
d. Provided adequate justification whether the market should be developed or not by MES-Sim Corporation.
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The rising competition that has been taking place across the world, has been encouraging the enterprises to expand their business operations from the region of their origin, to the international markets. As a result of the same, an organization is required to conduct thorough analysis of the different markets, so as to determine the most suitable market that has the potential for further business expansion. The evaluation of any international market requires consideration of various factors such as its political condition, its geographic locations, local cultures, beliefs, the ease of doing business in that market, the economic conditions and stability, the technological development and advancements that exists in that market and the various legislations, regulations and policies that are to be followed for conducting businesses in that market. It is important to conduct a thorough analysis of the various factors that surround the business within a market so as to determine its feasibility as potential market for expansion of any existing organization. In the following report, a market entry strategy project has been developed for M-Box, and MES-Sim Corporation. For determining the feasibility of the market, different analysis such as MIR, BEAR, ROME, and MESA have been conducted. Furthermore, the selected target market has been considered to be the United Kingdom and the same has been evaluated using the MIR, BEAR, ROME, and MESA analysis processes.
The international business environment is, considered a multidimensional that encompasses the taxation issues, legal, exchange risks, cultural differences and political risks (Cavusgil et al., 2014). Overall, it includes technological environments, legal environments, social and cultural environment, tax environment, regulatory environment, economic environment and political environment. The concept of business environment can be addressed as an entirety impact of both the internal and external environment that impacts the stable nature of an organisation or an entire industry. An organisation must be able to keep a track of all the possible internal and external influences as they have the tendency to influence the operations of a business. United Kingdom is one such country that is known for its favourable business environment to make sure that the business venture is able to conduct its operations effectively. The discussion provided below is mainly entitled towards the identification of the external environment situation of UK for the business ventures of the country.
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