Businesses operating in international markets must identify and analyse trends or
developments that do, or will, impact on the business. What is trend analysis and why is this
so important?
Trend analysis supports understanding of market maturity (whether the market is in a
growth or decline stage). A market trend analysis is an analysis of past and current market
behavior and dominant patterns of the market and consumers. An important aspect of
conductiong a trend analysis for an organization is to obtain insights on the market
scenario, consumer preference, and the marcoeconomic environment. Trend analysis is
necessary for ensuring that a business is aware of the changes taking place around it and
can capitalize on opportunities as they arise.
What is the purpose of gathering and analysing comparative international market
information?
Gather and analyse comparative international market information as a basis for reviewing
business performance. Comparative analysis can point to both similarities and difference
and to trending activities or process. It might take the form of an item-by-item comparison of
two or more comparable alternatives, processes, products, quallifications, sets of data,
system etc.
What is the purpose of analysing the international market performance of existing and
potential competitors and their products or services?
Monitoring the performance of existing and potential competitors on the international markt
can include watching corporate share prices, reading annual reports, assessing market
share, and collecting data about the number and type of cutomers serviced by a competitor.
Where possible, monitoring the profitability and sales in units or dollars of competitors will
be valuable. The business must understand where it and its competitors are positioned in
the market in order to determine how much of a threat competitors are.
What sources of information and intelligence might provide advance warning of new
products, services, technology or markets?
Information, intelligence and advance warning can come from a variety of sources that
include:
- World Trade Organization (WTO)
- Government publications
- Government agencies – home or overseas
- Internet
- Facebook and other social media
- Internet advertising sites
- Organizational R&D
- Reseach paper (national/international reseach)
- Market intelligence (research conducted by the company or commercial services)
- Television. Movies, radio, other media
- Networking contacts
- Social contacts
- Forecasts
- Universities
- Magazines and promotional materials
Other resouces can include:
- Competitor advertisement
- Web pages
- Analysis of current consumer behavior (with a view of predicting future behavior)
3.5 What legislation and restrictions do organisations bringing goods into Australia from
overseas need to know about?
In Autralia national, state, and territory legislation exist to protect the customers/consumers,
community, suppliers, environment and intellectual property(IP). Theses laws are intended,
at national, state and territory levels, to promote fair trading (for businesses and consumers(
and to encourage competitions. They also outline the right of businesses and business
owners when conflicts arise. The Australian Competition and Consumer Commision
(ACCC) oversees fair trading practices.
3.5.b
What things, apart from the legislative and ethical requirements of the host country are
organisations that operate in an international markets advised to investigate?
Organisations setting up their business in international markets must comply with
international Commercial Law- the legislation, regulations, rules, conventions, treaties, and
commercial customs or usages that govern international commercial or business
transactions.
3.5c What are some of the ethical dilemmas faced by companies operating overseas, or
importing from overseas.
Some of the most common ethical issues in international business include outsourcing,
working standards and conditions, workplace diversity and equal opportunity, child labor,
trust and integrity, supervisory oversight, human rights, religion, the political arena, the
environment, bribery and corruption. Business trading internationally are expected to fully
comply with federal and state safety regulation, environmental laws, fiscal and monetary
reporting statutes and civil right laws.
COVID restrictions have brought both global economies and the travel industry to a
standstill. What is the benefit of the CommonPass initiative and what can it do for
international markets and global trade?
The initiate is the brainchild of the Commons Project, a Swiss-based not-for-profit dedicated
to building digital tools that safeguard data privacy and benefit the public good. Restarting
trade is key to economic recoveries. Border restrictions, lockdowns and stalled tourism have
lead to a host of problems including global job losses, food insecurity and expanding
poverty. The CommonPass initiative doesn’t offer a silver bullet to ease global economic
woes, it can play a part in facilitating safe travel across international borders, helping slow
transmission of the virus until an effective vaccine is developed.
