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Task 3 – Practical: Assess International Business and Electronic CommerceMarket FactorsThis Task requires you to assess the international market electronic market factors.To do this you must either use the simulated business Bounce Fitness SmartWeights Export Marketing Plan or a similar initiative in your business.Ensure that you gain the approval of your Assessor before commencing.To enable you to do this, using the country or countries to whichyou wish to export, address the following points.3aIdentify and analyse the impact of economic, political, social andcultural factors affecting the market of Bounce Fitness or thebusiness you have chosen to use on their international marketingopportunities.and
2015 China was the world's fastest-growing major economy, with growth rates averaging 10%over 30 years. China is facing a plethora of structural obstacles as it aims to transition itseconomy into one that is based on consumers from one that depends on exports andinvestment.Political - Currently, China’s political situation is one that is in inevitable transition due to thesocial pressures and influences from Western nations such as the United States. However Chinagovernment still holds very strong control to the market and the trade legislation is different.It’s not a fully open market yet.Social - China remains a developing country (its per capita income is still a fraction of that inadvanced countries) and its market reforms are incomplete. Rapid economic ascendance hasbrought on many challenges as well, including high inequality; rapid urbanization; challenges toenvironmental sustainability; and external imbalances. China also faces demographic pressuresrelated to an aging population and the internal migration of labour.Culture - Café culture in China is seen as aspirational and this is fuelling the sector, particularlyamong younger consumers who are influenced by international branded chains. Traditionally,green tea is local beverage that plays a very important role in customers’ daily life. However,young consumers are also looking for the Western experience and this means that a Westernbeverage and food offering is essential for international chains. The Chinese word fornegotiation—tan pan—combines the characters meaning “to discuss” and “to judge.” From aChinese perspective, negotiation exists primarily as a mechanism for building trust so that twoparties can work together for the benefit of both. Trust is built through dialogue that lets eachparty judge or evaluate the partner and the partner’s capabilities and assess each other’srelative status. The negotiation process also enables parties to reach an understanding on aspecific issue, condition, or transaction, in a way that lets each side feel that “a good deal” wasbrokered. But the concept of negotiation hinges on creating a framework for long-termcooperation and problem-solving much more than on drafting a one-time agreement.