The main global opportunity that I would face if the simulation were based on a real-world international situation is gaining a large customer base based on the growing emphasis on environmental sustainability and reducing pollution. Many countries worldwide have set goals to reduce pollution, particularly from car emissions, due to the negative impact of the emissions on the environment. This has created an emphasis on the use of electric cars and alternative means of transport such as bicycles to reduce air pollution from car emissions. Due to the high cost of electric cars, bicycles are the best alternative for reducing car emissions. Therefore, I would market the bicycles by emphasizing the vital role they play in reducing air pollution and their affordability. However, I may experience various challenges, such as cultural norms restricting the use of bicycles by a specific gender and pricing complexities due to currency exchange rates. For instance, some cultures may be against females riding bicycles, making it hard to market to a population dominated by females. In addition, pricing complexities are likely to occur in developing countries because their currencies are weak.
Without assumptions built on the simulation, the business would be successful because bicycles are economical and help in health and fitness. Therefore, if there were no cultural barriers, the target customer base would be large, thus increasing business success. Interaction with potential customers would also be easier if there were no language barriers, making it easier to convince customers to purchase the bicycles. According to Cook & Raia (2017), the lack of tariffs makes market entry easier by eliminating entry barriers. Therefore, it would be easier to enter various global markets and acquire a reasonable market share through different entry modes such as mergers and acquisitions. Kayoma & Adeleye (2014) classify mergers and acquisitions as one of the best market entry strategies in global expansion because they help the acquiring company access the target company’s customer base, increasing the chances of success. Therefore, it would be best to consider mergers and acquisitions to enhance brand awareness.
Cook, T. A., & Raia, K. (2017). Mastering import and export management. Amacom.
Kayoma, I., & Adeleye, I. (2014). MCL: Driving expansion through mergers and acquisitions. https://doi.org/10.4135/9789351503422
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1-What global marketing opportunities and challenges would you face if the simulation were based on a real-world international situation? Discuss the difference in the experience you would have without the assumptions built into the simulation (e.g., no cultural barriers, language, currency, tariffs, mode of entry challenges).
2-Using the resources describing conscious capitalism and fair trade, how does fair trade support the philosophy and practices of conscious capitalism? What are the challenges to the implementation of fair trade in the developing world?
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