MNM3711ASSIGNMENT 04 semester 2 2024 a. As the strategic manager of Engen, identify and provide practical examples of seven key reasons the company might have considered for expanding into international markets. (1 marks for practical application to Eng

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Table of Contents
Introduction ................................................................................................................ 4

Question 1a: Reasons for Engen's International Expansion ...................................... 4

Access to new markets ........................................................................................... 4

Increasing Sales and Market Share ........................................................................ 4

Diversification of risk and Reducing Domestic Dependence ................................... 4

Exploiting economies of scale ................................................................................ 5

Access to resources ............................................................................................... 5

Following customers ............................................................................................... 6

Enhancing Competitive advantage ......................................................................... 6

Growth opportunities............................................................................................... 6

Question 1b: Marketing Communication Tools for Engen .......................................... 7

Advertising .............................................................................................................. 7

Public relations ....................................................................................................... 7

Sales promotions .................................................................................................... 7

Social media marketing .......................................................................................... 8

Direct marketing...................................................................................................... 8

Sponsorships .......................................................................................................... 8

Question 1c: Marketing Technologies for Engen's International Expansion ............... 9

Artificial Intelligence (AI) ......................................................................................... 9


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Chatbots ................................................................................................................. 9

Personalized recommendations ............................................................................. 9

Predictive analytics ............................................................................................... 10

Live Video ............................................................................................................. 10

Product demonstrations ........................................................................................ 10

Behind-the-scenes tours ....................................................................................... 10

Live events ........................................................................................................... 10

Question 1d: Pricing Strategies for Engen ............................................................... 11

Penetration pricing ................................................................................................ 11

Premium pricing .................................................................................................... 12

Competitive pricing ............................................................................................... 12

Cost-plus pricing ................................................................................................... 12

Value-based pricing .............................................................................................. 13

Conclusion ............................................................................................................... 13




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