Phoenix Week 6 Expansion of Starbucks Into Foreign Markets Assignment

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THIS WILL BE BASED ON A PAPER I WROTE IN THE PAST ON STARBUCKS- THE PURPOSE OF THE ASSIGNMENT IS EXPANDING THE COMPANY INTO A FOREIGN MARKET AND PROVE WHY STARBUCKS WILL DO WELL IN A FOREIGN MARKET, I DID HINT ALREADY ON INDIA, SO THAT COULD BE THE FOREIGN MARKET. ( I WILL ATTACH THE GRADING GUIDE AND MY PREVIOUSLY SUBMITTED ASSIGNMENT)


EXCEL GRAPHS AND DATS IS HIGHLY RECOMMENDED EMBEDED WITHIN PAPER!!!!!!!!!

DUE DATE :JULY 18 (5 PM WESTERN PACIFIC TIME ZONE:CALIFORNIA)

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Purpose of Assignment This week students will review and revise their Week 3 Research Analysis for Business Signature Assignment based on economic analysis and the feedback provided by their facilitator. Students will also expand their Week 3 analyses to evaluate the challenges of expanding their chosen company's production to a foreign market. About Your Signature Assignment This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments might be graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements. Assignment Steps Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. Revise your Week 3 assignment, Research Analysis for Business, using the feedback provided by your facilitator. This Week 6 report should only include one conclusion, so you will need to rewrite the conclusion you included in your Week 3 assignment, Research Analysis for Business. Select a foreign market in which to expand your chosen product. If you wish, you may use one of the countries your team analyzed in their Week 5 Comparative and Absolute Advantage Assignment. Prepare a minimum1,750-word report addressing the points listed below. The use of tables and/or charts to display economic data over the time period discussed is highly encouraged, you may submit any economic data in Microsoft® Excel® format in a separate file. You may use the U.S. Department of Labor's Bureau of Labor Statistics (BLS), U.S. Dept. of Commerce's Bureau of Economic Analysis (BEA), the Federal Reserve of St. Louis's FRED data, the CIA World Fact Book, World Bank data, and World Trade Organization, or other appropriate sources you might find on the Internet or in the University Library. The new sections of your report should: • Evaluate current global economic conditions and their effects on macroeconomic indicators in your selected country. Provide forecasts for population growth, gross domestic product (GDP) growth, GDP per capita growth, export growth, and sales growth. • Evaluate any competitors' existing production in the chosen country. • Assess sales forecasts in the selected country by using the Federal Reserve of St. Louis's FRED data, the CIA World Fact Book, World Bank data, World Trade Organization, or other appropriate sources you might find on the Internet or in the University Library. • Categorize the type of economy that exists in your selected country as closed, mixed, or market. What is the difference between these types of economies and how might this affect your expansion? • Assess how your chosen country's current credit market conditions, especially interest rates and the availability of financing, affect demand for your product or service and your planning or operating decision for your production in that country. • Analyze the role of the selected country's central bank on that country's economy. • Compare the availability, education, and job skills of the work force in the selected country. Discuss any additional challenges of international production, such as political stability, availability of government financing or other incentives, threat of capital controls, and exchange rate risks. • Explain any additional supply chain challenges you anticipate if attempting to make your product in your chosen country and selling the product in other countries. • Based on the data gathered and analysis performed for this report write a conclusion in which you: o Create business strategies, including price and non-price strategies, based on your market structure to ensure the market share and potential market expansions and explore global opportunities for your business in a dynamic business environment and provide recommendations. o Develop a recommendation for how the firm can manage its future production by synthesizing the macroeconomic and microeconomic data presented. o Propose how the firm's position within the market and among its competitors will allow it to take your recommended action. o Recommend strategies for the firm to sustain its success going forward by evaluating the findings from demand trends, price elasticity, current stage of the business cycle, and government. o Recommend any comparative advantages your company will have over competitors currently operating in that country, and defend your position, either for or against, expanding your company's production into your chosen country based on your research. Integrate with the Week 3 Individual Assignment, and incorporate corrections and suggestions from the instructor's feedback. The final report should be a minimum of 2,800 words. Cite a minimum of three peer reviewed sources not including the textbook. Include all peer-reviewed references and government economic data sources/references from Week 3. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. ...
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Tutor Answer

SIMPLIFIED
School: Duke University

Attached.

OUTLINE

1. INTRODUCTION
2. BODY
3. CONCLUSION
4. REFERENCE


ECONOMICS

1

EXPANSION INTO FOREIGN MARKET
NAME
INSTRUCTOR
COURSE TITLE
DATE

ECONOMICS

2

Introduction

Expansion into the global market is a very important and key activity for any company
that desires maximization of its revenues, though other factors may push for venturing into the
international market for instance to learn about foreign business cultures, but then the main
reason remains increase in the overall profits earned. When venturing into new markets
companies experience lots of challenges that hinder the success of their long and short term goals
and objectives. Starbucks being one of those firms that have immensely expanded into foreign
markets face a variety of challenges maintaining their high profits. Indeed it is crystal clear that
other countries have had various companies that already sell coffee for instance; Italy is a leading
market in the sale of coffee as given by the data below (Crane, 2016).

ECONOMICS

3

Challenges faced in the foreign markets

India is not that foreign or rather new to the coffee market, the only difference that is existing is
that they have an alternative drink which happens not be coffee but rather tea, a majority of the
population in India is a composition of young adults who cannot be swayed easily to change a
childhood drink (Crane, 2016). In addition, one of the most difficult activities in marketing is
how to change the millennials’ taste for tea. For decades a majority of the Indian population has
grown taking tea and since it is readily available it will require an extra effort to persuade and
have them start consuming coffee in place of tea.

Comparatively, India being a producer of tea implies that Starbucks will have to face stiff
competition in order to be able to survive in the Indian market, tea is the leading beverage in the
Indian market therefore it means Starbucks will have to engage in intense advertising in order to
get their product into the market. Tentatively the prices at which Starbucks is availing its
products is way too high meaning that they will have to reduce prices to be able to compete
favorably with the tea served in India (Crane, 2016).

Language barrier is another key challenge that Starbucks will face meaning that it will
have to offer employment to the natives in India which will imply additional administrative costs
since they will have to train them the Starbucks business culture and operations. Besides, Indians
prefer preparing their own coffee at their residential home making it a bit difficult to introduce
the product since individuals prefer taking it while ...

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Anonymous
Excellent job

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