International Business: Apparel Retailing - Term Paper Example

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International Business Apparel Retailing Table of Contents Table of Contents 2 Introduction 3 Apparel Retail Business: A Brief Overview 3 VRIO Framework 4 China: External Business Environment 5 PEST Analysis 6 Hofstede Cultural Dimension 11 Porter’s Five Forces 11 Strategic Objectives of Entering China 12 Strategy for Entering China 13 Marketing Mix for China 13 Works Cited 15 Introduction Organizations around the world are considering international expansion as a way of generating more revenue and expanding the customer base…
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International Business: Apparel Retailing
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Download file to see previous pages In other words international marketing involves exchanging of products and services with the consumers of other countries (Peng and Meyer 6). Also opening up of the world economy and reduced trade barriers has immensely contributed towards the growth of foreign trade. Now the business which we have selected to initiate is apparel retail shops. Nowadays, the popularity of apparel retail shops has increased drastically and people consider shopping as a leisure activity. Hence it gives our business a great opportunity to achieve success. Apparel Retail Business: A Brief Overview In this context of the project the business which has been chosen is apparel retail business. The business is presently operating in USA. The target foreign country where the business is going to start its operation is China. The apparel retail industry of USA comprises of selling women’s wear, menswear and children’s wear. The US apparel retail industry is one of the fastest growing industries of USA (“Apparel Retail in the United States”). ...
According to some reports, apparel retail industry of China is forecasted to reach a value of $151,403.3 million by the year 2016, which reflects a staggering growth of 20.9% (“China: In-depth PESTLE insights”). Therefore it provides a great opportunity for the business to excel in the Chinese market and earn more revenue. However, the business needs to consider certain aspects prior entering the Chinese market. The report will therefore carry out an in-depth analysis of the Chinese external business environment. In addition, the apparel retail industry of China will be also thoroughly examined. The cultural differences between the two countries will also be examined. Based on the outcome of the study suitable strategies will be recommended. Finally the marketing mix for the business in the context of the Chinese market will also be highlighted. VRIO Framework According to Barney and Hesterly, VRIO framework can be regarded as one of the useful tool for assessing and examining the internal environment of a firm. According to them, VRIO framework is mainly comprises of four questions in order to determine a company’s competitive advantage (Barney and Hesterly 584). In general a company possesses three types of resources namely tangible resources, intangible resources, and organizational capabilities. The tangible resources are financial, technological, physical and organizational resources. The intangible resources are human, reputation and innovation & creativity resources. The organizational capabilities are the ability of the organization to combine intangible and tangible resources. For example product development capabilities, superior customer service etc. In the context of our business, the resources which give a competitive advantage to ...Download file to see next pagesRead More
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