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Understand factors within a company which affect the building overseas markets

Post Date: 16 - Aug - 2023

Unit 29: Doing Business Globally

Unit code: Y/501/8393
QCF level: 4
Credit value: 7
Guided learning hours: 50

Unit aim

The aim of this unit is to help learners consider a range of approaches to entering international markets critically. This will include the use of different sources of advice and guidance along with the impact of appropriate legislation on business activities.

Unit introduction

In an increasingly connected world a global presence can be created by any start-up business with access to the internet, which serves to reinforce the significance of studying of global marketing for practitioners.

Entering different country markets presents a range of challenges and requires careful consideration of the relative importance of differences in factors such as demographics, culture and rates of technology adoption. Learners will consider the impact of these factors in the context of contrasting global markets.

As a part of this learners will explore the role of intermediaries who can give valuable insight into local needs in the context of their impact on the bottom line for their organisation.

The culture of different markets will have a profound impact on marketing activity. Patterns of behaviour change between countries relating to the consumption of goods and services will vary between countries. Product development of is informed by this variation. Adapting existing offerings or develop new products and services can give an opportunity to access gaps in markets not yet accessed by domestic producers.

Cultural differences will also impact on the communication strategy used in different markets. An innocuous phrase in one market could be offensive in another. Alternatively, without an adequate understanding of the cultural conventions of the market a message might cause confusion or simply not be understood. Learners will explore a number of aspects of the culture of different countries to examine how and why it is important to adjust and refine a message to ensure that it makes a positive impact on the target market.

Learning outcomes and assessment criteria

In order to pass this unit, the evidence that the learner presents for assessment needs to demonstrate that they can meet all the learning outcomes for the unit. The assessment criteria determine the standard required to achieve the unit.

On completion of this unit a learner should:


Assessment criteria

1    Understandfactorswithin acompany which affectthebuilding overseas markets

1.1    Analyse theimpactof thefollowing on entering a Globalmarket

●   company branding

●   websitedesign andfunctionalityin a new market

●   product design for a specificmarket

2    Understandlogistics fortakingdesigns, brands and products toGlobal markets

2.1    Evaluatemethods of breaking into GlobalMarkets, through

●   consultation with appropriatetrade, andgovernment supportagencies

●   the understanding ofimport/export procedures/law/financial costs

●   the use of agents

3    Understandhow culturaldifferencescan influence designideas for different countries

3.1  Analyse thecultural differencesin potential markets andconsider how this could effectproduct development

4    Recognisetechniques forcommunication in differentcultures and develop culturalawareness

4.1    Evaluatethe importantdifferences in communicatingwith a range of culturesincluding

●   language-non verbal and verbal

●   translation

●   dress

●   social etiquette

●   managing time

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