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Task 2 Research International Markets

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Research international markets

Assessment Task 2: Project – Research International Markets

Introduction – include company details and the objectives of the research you have conducted.
Company details:
Mash mining is a company that is in the mining industry. This company is in the business of mining iron ore located in Western Australia. The main use of iron ore is making pipes, fittings, engine blocks and steel. With such a high demand for this material locally the company has decided to look for international markets to export this useful resource.
Objectives of the research:
• To protect the company from business cycles in the domestic market.
• To enhance the image of the company to new markets
• A good way of extending the product …show more content…

– Any other relevant factors you identified during your research.
Any other relevant factors are:
• Attitude towards Australia and Australian products and services: they are often viewed with high regard for their high quality that they mine and timely manner in which they export their product to the desired consumer.
• Economic or socioeconomic factors: with a variety of uses for iron ore, people are generally aware of the huge benefits that iron ore has for the local country. So it is equally and fairly distributed with the main aim of benefiting the economy as a whole
A summary of the data analysis undertaken including:
– Average expenditure on the product or service in the identified country or geographic region for 2010, 2011 and 2013 and forecasted demand for the product or services based on these figures.
Selected overseas countries Average expenditure on the product or service Forecasted demand for the product or services
Overseas country 1: China $8 million $10 million
Overseas country 2: Japan $5 million $7 …show more content…

Attitudes towards Australian and/or Australian products or services Explanation
Overseas country 1: China Very good quality of product that is sold at a reasonable price
Overseas country 2: Japan Very high quality that is affordable with transparent laws about the product that is being sold
Overseas country 3: India Good quality of product that is affordable compared to the other competitive markets

Local alternatives to the product or service Explanation
Overseas country 1: China The quality of iron ore that is locally produced is not that of good quality compared to Australia
Overseas country 2: Japan There are no minerals that are based in Japan to mine. It is all imported
Overseas country 3: India There are not enough resources to mine a high quality of iron ore that Australia produces

Recommendations based on the data analysis regarding which 1 or 2 of the three countries offer the best potential for further exploration into exporting your company’s product or service? Explain why and which factors contributed to making this decision?
Recommended countries for exporting Why Which factors contributed to making this

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