• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The Luton Development Agency.

Extracts from this document...

Introduction

The Luton Development Agency. The object of this report is to relate theories and principles of international marketing to the specific characteristics of the Luton business environment. Using the example of the Luton Development agency, relevant theories and issues can be applied in a realistic context. In order to do this a detailed analysis of the Luton business environment is required using a PEST (political, economic, social and technological forces) analysis among other techniques to identify and evaluate the environmental forces that may affect a business. Once these forces have been identified and analysed it will then be possible to determine what opportunities exist and any factors that may prove to be obstacles for the business in question. The prospects of Luton as an investment location can then be considered and evaluated. There are many factors and variables that determine the ability of a company to operate internationally by shaping the market and climate in which it operates. Organisations wishing to operate internationally must therefore carry out a detailed scan of the business environment, they will then be able to identify the nature of its markets, competition and resources available to it. In Luton the environment may be scanned most effectively with a PEST analysis to identify key threats and opportunities. ...read more.

Middle

Ethnic mix and the level of education are also important and Luton has an increasingly successful university and strong institutes of secondary education. The other type of social factor are cultural forces, culture may be defined as; 'an integrated system of learned behaviour patterns that are characteristic of the members of any given society'2. Culture can then be broken down into many elements including language, customs, religion, and aesthetics. In the UK the official langue is English and the Church of England is the state religion, however in Luton there are many cultures represented and therefore many languages and religions. Islam and Asian culture are particularly apparent in Luton. Technology always has a large affect on the international business because new products and developments can increase demand and therefore business transactions. Technology can give an organisation a competitive edge with every new implementation of knowledge or equipment. Advances in this field can often prove to be the largest factor in the development of nations, cultures are forced to converge when communication barriers are broken down. It is therefore essential for management to be aware of new technology and how they will affect their organisation. The United Kingdom is one of the worlds leading researchers and users of new technology. ...read more.

Conclusion

In Luton a foreign would be able to take advantage of social responsibility with many consumers here willing to pay more for environmentally friendly products, a high level of disposable income within the UK makes this possible. Luton also has a highly concentrated population of around 200,000 and as in many developed countries experiences rural-urban migration so this it is likely to be increasing. Luton has an international airport so is easily assessable and is in close proximity to London. There is an extensive phone and power network and access to all modern forms of communication. In conclusion Luton would be an ideal location for an international business to operate. On completion of a STEP analysis it is clear that the UK is at the forefront of society anywhere in the world. Luton in particular is suitable because it is in the most affluent region of the UK with international transport and communication links. There may also be an opportunity to open new niche markets because of the high levels of disposable income. 1 Robert Wesson, Modern Government-Democracy and Authoritarianism, 2nd ed. (Englewood Cliffs, N.J.: Prentice-Hall, 1985), pp. 41-42. 2 Czinkota et. Al. 3 Albert J. Radler, "Taxation Policy in Multinational Companies," in The Multinational Enterprise in transition, A. Kapoor and Philip D. Grub, eds. (Princeton: Darwin Press, 1972), p.30. ?? ?? ?? ?? MAR09-2 Page 1 of 3 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. External environment - PEST analysis for Somerset house.

    which means the products and services may be cheaper that Somerset house does not make enough profit or that the prices are to expensive the public that the sales drop. Inflation changes will also affect me as it may cause the prices of the goods to increase or drop however

  2. PEST and competitive analysis facing by confectionery organisations

    As a result, the bargaining power of suppliers will not be determined solely by their relationship with one industry but by their relationships with all of the industries that they serve. The suppliers are very important for confectionery organisation; good relationship between suppliers will help the organisations increase their sale.

  1. Split Votes: A Nation Divided on the Marijuana/Drug Legalization Debate

    Thus far, no group or argument has shown indisputable proof for or against legalization. The proponents for the current institutionalist program have not been able to show concrete evidence that prohibition is less costly than legalization. Legalizers have not been able to prove that legalization is less costly than prohibition.

  2. Free essay

    Globalisation & changing career patterns

    East Timor, is at the bottom of the scale, and has a GDP of only $400 per annum. Geographically, (see figure 2) EME's cover a vast and ever expanding area, from Central and Eastern Europe, to Central and East Asia, Latin America, Africa, and the Middle East.

  1. Bellway Plc is a holding company with subsidiaries; its main subsidiary company is Bellway ...

    land bank A strong land bank is essential for the industry, as without land, development can not be made forcing companies out of business. As land is in scarce supply, Bellway have adopted a strategy to increase amount of land resources held, as this will ensure sustainable future for prospect development.

  2. Environmental Analysis Of Landis Lund.

    Their objectives are to produce reliable goods for Landis Lund so we will continue to use their product. We have very few reliability problems with suppliers as they are also providing complex equipment, so the investment and research into these products is of a very high standard.

  1. Toyota Motor Company Limited

    Oldsmobile, Plymouth, Pontiac, Porsche, Renault, Saab, Saturn, Subaru, Suzuki, Toyota, Volkswagen, Volvo.3 However, the key automakers are obvious. Toyota is one of those cars that are tied as the well-known vehicles worldwide. This is because Toyota operates business in foreign countries, making its brand recognisable.

  2. The following report discusses the possibility of McGregor BFA opening an office in London ...

    In terms of International Financial Markets, London holds the largest market share in many areas. London is the largest International Banking Centre in Europe and is estimated to have a 50% share of all European Investment Banking Activity. Most International Banks either have headquarters or offices in London.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work