Target Market Factors
Analyze international and external market factors, political factors, and cultural factors and use
this information to predict communication challenges that your organization could face when moving into the target market. You will also describe ways in which
these challenges can be managed. Finally, you will describe your competitor’s media preferences and what your organization can offer to the chosen market.
Also, establish how your sports organization differs from others, being sure to include an analysis of pricing.
A. Analyze the internal and external market factors of the nation your sport organization is looking to join. Consider what factors impact the target
nation’s market from within, but also outside elements.
B. Determine specific political factors that could impact the success of your organization’s expansion into an international market and explain
possible approaches to addressing these factors.
C. Determine specific cultural factors that must be considered for your organization to be successful in the target market and explain possible
approaches to addressing these factors.
D. Predict communication challenges that your organization could face when moving to the target market and describe ways that these challenges
can be managed.
E. Describe what your organization can offer to the chosen market that it is currently missing or lacking.
F. Determine direct and indirect competitors to your organization within your target market, explaining the relationship and why they are
competitors.
G. Determine the demographics within your target nation that your organization will pursue and justify your response.
H. Identify ways that competitors use media to promote their organizations and explain why these ways are effective with the chosen demographic.
I. Establish how your sport organization differs from competitors already existing in this market. Support your response with examples.
Sample Solution
International and external markets present a variety of communication challenges that an organization must be prepared to face when entering new markets. Political and cultural factors can influence how messages are received, as well as the manner in which they are communicated (Brynjolfson & Brynjolfsson, 2013). For example, in some countries there may be restrictions on certain forms of media or topics that cannot be discussed due to legal considerations. Additionally, cultural norms could impact messaging strategy; for instance, if the targeted market is largely composed of individuals with conservative values then a more respectful approach may need to be adopted (Lerner et al., 2018).
By conducting comprehensive research on target markets’ political and cultural backgrounds prior to implementing any strategies, organizations can mitigate potential risks associated with communication. Companies should also strive to understand the local language and gain familiarity with the market’s preferred media outlets (Feng et al., 2016). This will help ensure that messages reach their intended audience in an effective manner. It is important for marketers to recognize competitor’s media preferences so they can effectively differentiate themselves from their rivals. In order for an organization to successfully enter a new target market it must offer something unique that sets it apart from its competition while still adhering to local regulations (Weber & Antalek, 2017).
In conclusion, international and external markets present numerous communication challenges which can only be addressed through detailed research into political and cultural factors prior to launching any campaigns. By striving for understanding of local language and familiarizing oneself with favored media outlets one can increase chances of successful penetration into foreign markets. Additionally, recognizing competitors’ media preferences will enable companies create dynamic marketing plans tailored specifically towards gaining entry into untapped areas.
