Assessment Task 1 | Macro Environmental Research Report (Individual)Course code and name| MKTG1061...

Question

Assessment Task 1 | Macro Environmental Research Report (Individual)

Course code and name| MKTG1061 Global Marketing

Assessment name: Macro Environmental Research Report

Weight: 20%. .

Length: 2000 (±10%)words

Feedback mode:

Feedback will be provided by/using the rubric attached to this assignment as well as extensive written feedback to each student.

Assessment Declaration:

I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of theAssessment declaration.No hard copy of the RMIT Cover sheet is necessary.

Details:

Macro Environmental Research Report

1. Each individual is to select a country and a product. (Country: Malaysia, Product: Lanolips 101 ointment multipurpose superbalm)

2. Each individual is to write up a comprehensive paper outlining the major Economics and Trade; Social and Cultural; Political and Regulatory; Legal conditions in the country of selection.Also, try to connect these economics and trade, social and cultural; political and regulatory; legal conditions in Malaysia to the product (Lanolips 101 ointment multipurpose superbalm).

3. Each student will prepare an individual 2000 word report (excludes appendices, graphs, tables, diagrams, headings) (+-10%) on each section. This report will inform the Feasibility study report on whether to launch their product /service into that country or not.

Evaluation criteria:

1. Presentation of Macro research paper including spelling, grammar (10%)

2. Harvard referencing (10%)

3. Introduction (20%)

4. Content of report (60%)

All individual papers must discuss relevance/implications for your target customer/persona and should include the following where relevant for your target persona.Other elements referred to in either lecture, tutorial, text, other relevant readings are to be assessed and used if relevant.

Economic/Trade

Income per capita, disposable income, inflation, interest rates, currency/exchange, population, demographics and trends, unemployment, urbanisation, risk, stability, physical quality of life index, GINI index or spread of income, availability of technology.

Political/Regulatory

Corruption, freedom, trade agreements with Australia and where your product is made. Agreements between your proposed country and where your product is made to gain tariff benefits, ease of doing business, risk, stability.

Legal

Advertising laws, labour laws, product/content laws, labeling laws, other laws as applicable to your product/country, stability, piracy.

Social/Cultural

Hofstede cultural dimensions, holidays, customs, family, food, language, lifestyle, education, religion, material life – technology, use of technology, infrastructure, high/low context, stereotypes.

Proposed market entry strategy, including justification for your choice

Extensive research is expected for this research paper such the following rules apply in addition to the normal RMIT information about grading. The following list is themaximum resultapplicable for the level of research completed.

This is for each INDIVIDUAL student section

HD = High Distinction (80 - 100%)

Outstanding work featuring originality, excellent critical analysis, detailed research and comprehensive coverage of relevant issues.Research covers textbook/s, 5-7 websites, 5-7 business articles, 1+ academic journal articles

D = Distinction (70 - 79%)

Superior work featuring originality, solid research, good critical analysis and well substantiated argument.Research covers textbook/s, 3-5 websites, 1-3 business articles and 1 academic journal article

C = Credit (60 -69%)

Above average work demonstrating an understanding of the concepts and their application. Good research and presentation.Research covers textbook/s, 3-5 websites/business articles.

P = Pass (50 - 59%)

Work at or just above minimum standard. Tends to be more descriptive than analytical. Arguments not strongly supported.Research mainly based on textbook/s and 1-3 websites /business articles.

NN = Fail (

Work below the minimum standard or failure to meet guidelines specified. Disorganised and with a lack of clarity in the arguments presented. Poor research effort and presentation of the report

The Reference List MUST be laid out in the order of textbooks / websites / business articles / academic journals

• Recommended textbook: Keegan, WJ & Greene, MC, (2017)
Global Marketing, 9^th
ed, Pearson England

• Website: E.g.
www.worldbank.org

• Business article: E.g.
http://www.economist.com/news/business/21703428-chinas-wechat-shows-way-social-medias-future-wechats-world

• Journal article: E.g.
http://
journals.sagepub.com/doi/abs/10.1177/1356766715604661

*NOTES:

The introduction part should be:

Introduction to the company/product/service/target persona (20% of total marks available)

- Please add to front page of
Economics report

- Not included in the word count of the 1000 piece

- 200 words

- Each student needs to keep referring to this for their piece

mktg1061-topic-2-eco-and-trade-sem12018-bf4c22wk.pptx l4globalmarketingculture12019-2fjekkyh.pdf mktg1061-session4-jhpolitial-and-legal-12018-j2zzx1qv.pptx

Soumi · Accepted Answer

MACRO ENVIRONMENTAL RESEARCH REPORT FOR LANOLIPS 101 OINTMENT MULTIPURPOSE SUPERBALM TO MALAYSIA
Table of Contents
Introduction	3
Economics and Trade	3
Social and Cultural	4
Political and Regulatory	5
Legal Conditions	6
Conclusion	7
References	8
Introduction
Being a Southeast Asian country Malaysia constitutes of 13 states and 3 federal territories. It is an open state oriented country with very new industrialised market economy. Malaysia had its highest net GDP between the time periods 1957 to 2005 with an average growth rate of 6.5% annually. It was ranked higher than the world’s well-known economics such as Australia and France in 2014, within Asia it was ranked sixth while 20th at the world ranking (Unit, 2010). Industrial market in Malaysia had a rapid boost within last 10 years and it had been able to secure a place in the list of growing economies. Healthcare and the pharmaceutical sector in Malaysia have been estimated to be worth $3 million and the market is expected to grow 10% annually. Lanolips 101 ointment has been ground breaking in variable countries; current study will present what could be the boosting or hindering factors during the launch of this product in Malaysia. Malaysian health system is mostly funded by the taxation policies and revenue collection by the federal government. In order to improve this revenue collection the government raised the service tax by up to 7% (Web Archive, 2019).
Economics and Trade
Malaysian economy is the fourth largest economy among all the Southeast Asian countries. As mentioned by Unit (2010) and supported the World Bank report from 2017, Malaysian average per capita income is 28, 681 PPP or 10, 620 US dollars. The International Monetary Fund also declared Malaysia as the third richest south Asian country. It is a new industrialised market economy that reflects potential of foreign investment (IMF, 2019). However, due to the Organisation for the Economic Cooperation and Development standards (OCED) the per capita is lagging as reported by the Malaysian government. Malaysia provides the best ease to business standards and policies as reported by the World Bank and this is because they do not want any hindrance in the containing growth of nation.
However according to the reports presented by the Inland Revenue Board , Malaysia lowered its effective tax rate for the business with capital exceeding 2.5 million ringgit by up to 24% and for the smaller companies tax rate decreased by up to 19% (Lampiran1, 2016). This figure suggests that the smaller business such as Lano with the product Lanolips 101 ointment are widely benefitted because during the initial stage of the launch of product sales are down to earth and decreased taxes makes it easier for the company to sustain their business. Moreover, tax rate is also lower than the states such as Singapore (IMF, 2019). 
Malaysia was ranked 18 by the World Bank in ease of doing business index in 2014 also it was ranked 13 as the best nation for starting up a new business, therefore this data supports the Lano with their project of launching their product in Malaysia. Further, as suggested by the data from the PESTEL analysis presented by Reddy and Rao (2016), the per capita investment on healthcare in Malaysia is found to be higher in figures when compared to other Southeast Asian countries. However the inflation rates increased by up to 3.8% in 2017 and the net GDP growth has also increased by up to 5.9% in 2017 when compared with the previous data in 1980s (IMF, 2018). Increase in the inflation rate presents a good image for the new startups as the companies can start with the low product prices when compared to the competitors however, this may be observed as a negative influence also but the net GDP increase, which is almost double the inflation rate shadows it and reflects good market conditions. 
Social and Cultural
31.2 million, the population figure of Malaysia with an average population density of 96 people per Km2 and with a ranking of 116th in the world with respect to population density. According to the 2012 census, Malaysia comprises of 70% population under the age group 15-64, 0-14 age group is only 24% while population above 65 is 6% (Web Archive, 2019). Therefore, this presents a good market for the launch of product because according to the company Lano, they have a target age group of 15-60 years for their Lanolips 101 ointment and Malaysia presents a potential target for the same.

Assessment Task 1 | Macro Environmental Research Report (Individual) Course code and name| MKTG1061 Global Marketing Assessment name: Macro Environmental Research Report Weight: 20%. . Length: 2000...

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