Description
Nonmarket forces have a profound impact on all organizations operating today. It is critical that you understand the shape and ways these nonmarket forces can impact on a business and how you can respond to them. This assignment will help develop these skills.
Scenario: You work for one of the 19 Hong Kong companies listed below.
Chen Hsong Holding Hong Kong Telecom Maxim Group Town Gas
China Light and Power Hung Fook Tong MTR Corp Vitasoy
Giordano Kerry Logistics Ocean park VTECH Holding
Golden Peak Lee Kum Kee Shangri-la Hotels & Resorts Wai Yuen Tong
Henderson Land LI & Fung Sinopec Corporation
You need to create a new product (this could be a good or a service) for this organization to be launched in another country of your choice.
You do not need to work for this company. However, you need an understanding of their products and what they stand for in the market (how they have positioned the customers' mind), because, your new product has to be synergistic with what market the company would target in the new country. For example, if you are talking about Ford Motor Company your new product would be some form of personal transport like a new type of car (not a new flavored ice cream).
The report must be done in Business Report Format, and be Word processed in Arial 12 pt font. This should be a Word document and not a PDF
The report should be approximately 2,000 (± 10%) words in length and must involve a review of academic course concepts on the issues covered. Please note that: The Cover Page, Contents Page, Diagrams, Executive Summary, Reference List and any Appendices are all NOT included in the word count. However, tables are included in the word count.
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ASSESSMENT CRITERIA
- Product Idea and new country 40%:
What is this new product you are planning to launch and in what country? This section is about you being creative and entrepreneurial to clearly identify and explain your product concept. Included in your answer should be questions like:
• A brief description of the company; what business are they in?
• A clear description of your new product including diagrams.
• Who are the customers for your new product? A figure or diagram could be used here.
• What is the product’s USP in the market?
• What country are you targeting and why?
- What nonmarket forces could impact on this company because of the new product and country identified in Part 1: And how could the company be prepared and/or respond to these nonmarket forces? 50%:
In this section of the assignment, you need to explore and examine the possible nonmarket forces covered in the lectures that could impact (either positively or negatively) on your company because of the launch of your new product in a new country.
These nonmarket forces will need to be identified, explained (you must use actual examples from the internet and other sources to illustrate the nonmarket forces and the impact they have had on other organizations in the past) and the possible impact on your company discussed.
The following areas should be covered in this section:
• What are the nonmarket forces that could impact on your company because of the launch of your new product? (use contemporary examples (examples from within the last 2 years) to illustrate your understanding of the non-market forces)
• What type of impact would each of these nonmarket forces have on your company? How could it affect your business (good or bad)?
What strategy and tactics could your company adopt to cope with the possible impact of each nonmarket force identified?