Impact Used To Reframed a Marketing Strategy Assignment on Revenue Of Global Companies In Asia-Pacific

Question

Task: How can a Marketing Strategy Assignment boost business development and growth?

Answer

1 Introduction
1.1 Background of the research: This marketing strategy assignment will highlight how every organisation seeks to increase their marketing effectiveness in today’s world of globalization. In a swiftly paced world of complicated challenges and disruptive changes, organisational leaders have been striving to find out new methods to succeed and survive (Nguyen & Rugman, 2015). This factor has resulted in a variety of innovative approaches and scenario planning. Unlike conventional strategic approach, strategic reframing is predominantly a distinctive approach associated with scenario planning that facilitates organisational leaders to explore a myriad of new challenges and escaping missing opportunities. The global business scenario has been becoming more and more challenging day due to volatility, currency fluctuation, and fluctuation of oil price and so on (Virakul, 2015). Therefore, the importance of framing a reframed strategy draws the attention of the researchers. Setting up a business in the Asia-Pacific region is a challenging task. While framing strategy for Asia Pacific global organisations should evaluate the local market and culture which is quite unprecedented in the rest of the world. One of the predominant characteristics of the Asia-Pacific market is the high level of competitiveness and price-sensitive consumers. Therefore a reframed marketing strategy assignment can facilitate the Global companies to get a stronghold in the Asia-Pacific market. Introducing a new service or product for Asian customers requires a reframed marketing strategy, depending on linguistic and cultural specifics. Even if a particular strategy helps a global organisation to market its products in the Western market successfully, it does not mean that the same marketing strategy assignment can be fruitful for the company in the Asia-Pacific market also. So, global companies need to ascertain a reframed marketing strategy assignment by considering numerous local and international perspectives.

2. Literature review
2.1 Necessity of reframed marketing strategy assignment in the Asia-Pacific region: In the present business environment, success and failure in business depend on an umpteen number of factors. The predominant concern of every company is to enhance its profitability. According to Yeung & Coe, (2015), understanding the requirements of the local consumers plays a crucial role in the success of every marketing strategy assignment. Excellent global companies are known not only for their products or services but also for their well-conceived marketing strategy. As stated by Kim, Hoskisson & Lee, (2015), effective and appropriate marketing strategy assignments require for an organisation in order to utilise the existing resources properly. In the Asia-pacific region, one of the major concerns for the global business leaders is to deal with economic risks, socio-political instability, and cybersecurity and so on (Guo, Su & Ahlstrom, 2016). Higher energy price and the rising rate of unemployment have been posing a significant risk for global players in terms of meeting their objectives. These risks are further aggravated as a result of economic slowdown and increased protectionist arrangements (Mukherjee, Makarius & Stevens, 2018). It is also worth mentioning that volatility in the Chinese market has a crucial impact on the economy of various nations belonging to East Asia and the Indo-pacific region. These factors have increased the necessity for the global players operating in the Asia-pacific region to reframe their marketing strategy assignment to deal with a myriad of ordeals involved in Asia-Pacific markets.

2.2 Nature of Asia-pacific markets: The Asia-pacific market is quite different from the western markets in many aspects. The potential failure of the national government is considered as one o0f the top five business risks in the region. Rising authoritarianism of China is also a matter of concern for many global players operating in the region (Rowley & Oh, 2016). To ensure success in business leaders need to have anticipation about potential disruptions that may be caused by a number of reasons such as economic inequality, volatility in the market, currency rate fluctuations and so on. Nowadays, the Asia-Pacific region is going through drastic change fuelled by to high level of integration and rapid economic growth (Holmes et al., 2018). These forces along with various other factors are predominantly responsible for generating a significant shift in terms of military, political and economic distribution in the region. Rapidly changing security atmosphere has been posing a serious threat for the global players operating in the region (Budhwar, Varma & Patel, 2016).

2.3 Implications of reframed marketing strategy assignments on global businesses: The Asia-pacific market is characterised by a number of tax and tariff regulations, ever-changing trade policies, protectionism and so on. Rising business risk has been impacting a number of global players operating g in the region to a great extent. A recent study has also suggested the fact that large manufacturing enterprises operating in the Asia Pacific region may have to incur a significant loss of US$ 10.7 million owing to cyber-attack (Holmes et al., 2018). Therefore, a reframed strategy can assist the businesses to deal with these issues by focussing specifically on the regional issues associated with their businesses. A recent survey also exhibits the fact that in the year 2017, the overall retail revenue growth rate of the region increased up to 6.5%. Due to their reframed strategy, the global retailers operating in the Asia-Pacific region have managed to gain huge revenue of US$ 4.53 trillion during the fiscal year of 2017. Some of the major global players belonging to Asia-Pacific region encompass Walmart Stores, Amazon .com, Tesco PLC, The Croger Co, CVS health Corporation and so on. In the financial year of 2017, total retail revenue growth of Walmart Stores, Inc was 3.0%. In the same year, the retail revenue growth of Tesco PLC was 2.8%. In FY 2017, the overall retail revenue growth of Amazon was 25.3% which was outstanding, stated by Holmes et al., (2018). All those figures are based on the Asia-pacific region. According to Amran et al., (2016), a reframed strategy has helped these companies to a great extent to ensure profitability amidst the global economic crisis, currency fluctuation and cut-throat compe4titiomn in the Asia-pacific region.

3. Research rationale
A reframed strategy focuses on what is the current trend in the market, what can and needs to be carried out in order to enhance the possibility of success. A marketing strategy assignment is primarily a marketing logic that helps an organisation to meet its marketing objectives. Due to economic uncertainty, sudden currency fluctuation, and excessive rivalry in the Asia-Pacific region, a traditional and stereotyped business strategy has little to do in terms of dealing with the complicated issues. Therefore the requirement of a reframed strategy draws the attention of the researchers.

4. Research aim
The current research aims to evaluate the implication of reframed marketing strategy assignments towards Global business organisations operating ion the Asia-Pacific region.

5. Research question
Does a reframed strategy facilitate the global companies operating in the Asia-Pacific region to ensure impressive revenue growth?

6. Research Methodology
6.1 investigation process:
Research philosophy: Research philosophy used to prepare marketing strategy assignment focus on the theoretical approach of broadening knowledge-base of the researcher by research (Lewis, 2015). It also assists a researcher in terms of adopting correct research design, questionary design and son. To conduct the current the researcher will employ the principle of interpretivism philosophy. This philosophy will assist the researcher to a great extent in terms of evaluating the impact of reframed strategies on global players through observations and detailed analysis.

Research approach: Research approach provides a suggestion about the correct procedures and planning for particular research (Lewis, 2015). The researcher will accomplish his/her task conforming to the deductive approach while compiling the marketing strategy assignment. The predominant reason behind this is that the researcher will not intend to discover any new theory depending on data. Therefore a deductive approach will assist the present researcher to examine the effectiveness of reframed business strategy on the global players based on the business environment of the Asia-Pacific region.

Research design In order to justify the marketing strategy assignments structure, principle and logic of the research, the researcher will opt for explanatory design. This research design will guide the researcher to examine the impact of reframed strategy on the global companies operating in Asia-Pacific continents.

6.2 Data collection process: Data collection is considered one of the most important stages of research and compilation of marketing strategy assignment. Among two branches of data, the researcher, after conducting an initial study, will employ secondary data. Secondary data is the richest vein of information which is easily available to the researcher. Various Government publications will facilitate the researcher in terms of ensuring the authenticity of the information. While conducting the research the researcher will follow a wide array of secondary resources such as journals, peer-reviewed articles, government publications, books, magazines and newspapers and so on.

6.3 Data analysis: Data analysis relates the act of evaluating data with the help of logical and analytical reasoning. In order to conduct the current research, the researcher will gather data from a wide array of sources (Woods et al., 2016). The researcher will employ qualitative data analysis technique to evaluate the subject materials in detail before preparation of the marketing strategy assignment. Within the sphere of qualitative data analysis method, a thematic analysis will be done by the researcher. This kind of analysis imparts significant emphasis on evaluating, pinpointing and ultimately liking themes with the collected data. The researcher will employ this method to explain the themes based on the evidence from data. It will guide the researcher to interpret the themes associated with the impact of reframed strategy on global players of the Asia-Pacific region.

6.4 Data sources

6.5 Time-frame:

Figure 1: Gantt chart
(Source: Self-developed)

Before conducting research it is very important to select the topic of the research. The researcher will take 5 days to determine the topic of the research. Reviewing the literature is considered as one of the major aspects of research. The researcher will take 14 days to review the literature. Finding the aim and objective of the research will take 5 days. The researcher will take a week to collect and organise relevant data which is also a crucial aspect associated with research. The researcher will spend two weeks to analyse data effectively. Finding out relevant points from accumulated data and drawing a conclusion to include to the marketing strategy assignment will take 14 days approximately. In order to prepare a recommendation based on findings, the researcher will spend 14 days. The researcher will take 2 days before submitting the research finally for proof-reading and editing purposes.

Reference List
Amran, A., Ooi, S. K., Wong, C. Y., & Hashim, F. (2016). Business strategy for climate change: An ASEAN perspective. Corporate Social Responsibility and Environmental Management, 23(4), 213-227. Doi: https://doi.org/10.1002/csr.1371

Budhwar, P. S., Varma, A., & Patel, C. (2016). Convergence-divergence of HRM in the Asia-Pacific: Context-specific analysis and future research agenda. Human Resource Management Review, marketing strategy assignment 26(4), 311-326. doi: https://doi.org/10.1016/j.hrmr.2016.04.004

Guo, H., Su, Z., & Ahlstrom, D. (2016). Business model innovation: The effects of exploratory orientation, opportunity recognition, and entrepreneurial bricolage in an emerging economy. Asia Pacific Journal of Management, 33(2), 533-549. doi: https://doi.org/10.1007/s1049

Holmes Jr, R. M., Hoskisson, R. E., Kim, H., Wan, W. P., & Holcomb, T. R. (2018). International strategy and business groups: A review and future research agenda. Journal of World Business, 53(2), 134-150. doi: https://doi.org/10.1016/j.jwb.2016.11.003

Kim, H., Hoskisson, R. E., & Lee, S. H. (2015). Why strategic factor markets matter:“New” multinationals' geographic diversification and firm profitability. Strategic Management Journal, 36(4), 518-536. doi: https://doi.org/10.1002/smj.2229

Lewis, S. (2015). Qualitative inquiry and research design: Choosing among five approaches. Health promotion practice, 16(4), 473-475. marketing strategy assignment Doi: https://doi.org/10.1177%2F1524839915580941

Mukherjee, D., Makarius, E. E., & Stevens, C. E. (2018). Business group reputation and affiliates’ internationalization strategies. Journal of World Business, 53(2), 93-103. doi: https://doi.org/10.1016/j.jwb.2017.12.003

Nguyen, Q. T., & Rugman, A. M. (2015). Multinational subsidiary sales and performance in South East Asia. International Business Review, 24(1), 115-123. doi: https://doi.org/10.1016/j.ibusrev.2014.07.001

Rowley, C., & Oh, I. (2016). Business ethics and the role of context: institutionalism, history and comparisons in the Asia Pacific region. Asia Pacific Business Review, 22(3), 353-365. doi: https://doi.org/10.1080/13602381.2015.1129814

Virakul, B. (2015). Global challenges, sustainable development, and their implications for organizational performance. European Business Review, 27(4), 430-446. doi: https://doi.org/10.1108/EBR-02-2014-0018

Woods, M., Paulus, T., Atkins, D. P., & Macklin, R. (2016). Advancing qualitative research using qualitative data analysis software (QDAS)? Reviewing potential versus practice in published studies using ATLAS. ti and NVivo, 1994–2013. Social Science Computer Review, 34(5), 597-617. doi: https://doi.org/10.1177%2F0894439315596311

Yeung, H. W. C., & Coe, N. M. (2015). Toward a dynamic theory of global production networks. Economic Geography, 91(1), 29-58. marketing strategy assignment - doi: https://doi.org/10.1111/ecge.12063

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