MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
MNM2615 Assignment 3
PORTFOLIO (VERIFIED ANSWERS)
Semester 2 2024
UNISA
,MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
INTRODUCTION
This portfolio will focus on a specific SME/SMME, outlining its offerings,
location, and target market. It will incorporate feedback from previous
assignments to make necessary revisions and improvements. The analysis
will highlight the crucial industries for business success in Africa, along with
an in-depth exploration of the marketing environment influencing the SME's
strategic decisions in reaching African consumers. Furthermore, it will
assess the challenges faced by businesses in the African market, offering
practical solutions to overcome these difficulties.
In addition to addressing these obstacles, the portfolio will provide
actionable recommendations aimed at fostering the SME’s growth. These
suggestions will focus on strategies for improving operations and expanding
the business in the African context. By examining the SME within the
broader framework of the African market, the portfolio will deliver a thorough
understanding of how this business can achieve long-term success.
The report is designed to adhere to the set page limits and marking criteria,
ensuring that the analysis is both concise and aligned with academic
standards. Ultimately, this portfolio aims to offer meaningful insights and
practical strategies to support the SME’s sustainable growth and future
success in Africa. Through this analysis, the SME will be equipped with a
UNISA
,MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
deeper understanding of the market dynamics and informed strategies to
thrive in the competitive landscape.
TABLE OF CONTENTS
INTRODUCTION .................................................................................... 3
SECTION 1: BACKGROUND OF SME/SMME
Background of Lulu’s Trading Pty Ltd .................................................. 3
Products and Services ........................................................................ 4
Location ............................................................................................. 4
Current Customers ............................................................................. 4
SECTION 2: ASSIGNMENT 01 CORRECTIONS AND SUGGESTIONS
Technological progress ...................................................................... 4
Technological progress in Africa ......................................................... 4
Lulu’s Trading technological progress in Africa ................................... 5
DECISION-MAKING PROCESS AS PART OF AFRICAN CONSUMER BUYING
Cultural influences .............................................................................. 6
Practical applications of the decision-making process ....................... 8
MARKETING ENVIRONMENT
Marketing implications relating to growth in mobile and internet access
............................................................. 9
UNISA
, MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
Marketing strategy ............................................................................. 9
SECTION 3: ANSWERS TO ASSIGNMENT 03 QUESTIONS
Establishing a business in Africa ........................................................ 10
Industries that Africa requires ........................................................... 10
Lulu’s Trading Pty Ltd industry and contribution ............................... 12
MARKETING ENVIRONMENT
Factors of marketing environment that may affect marketing decisions
........................................................... 12
How marketing environment will affect marketing decisions .............. 13
Challenges of Doing Business in Africa .............................................. 14
Overcoming challenges of doing business in Africa .......................... 17
SECTION 4: RECOMMENDATIONS ............................................................. 19
CONCLUSION ............................................................................................. 23
UNISA
MNM2615 Assignment 3
PORTFOLIO (VERIFIED ANSWERS)
Semester 2 2024
UNISA
,MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
INTRODUCTION
This portfolio will focus on a specific SME/SMME, outlining its offerings,
location, and target market. It will incorporate feedback from previous
assignments to make necessary revisions and improvements. The analysis
will highlight the crucial industries for business success in Africa, along with
an in-depth exploration of the marketing environment influencing the SME's
strategic decisions in reaching African consumers. Furthermore, it will
assess the challenges faced by businesses in the African market, offering
practical solutions to overcome these difficulties.
In addition to addressing these obstacles, the portfolio will provide
actionable recommendations aimed at fostering the SME’s growth. These
suggestions will focus on strategies for improving operations and expanding
the business in the African context. By examining the SME within the
broader framework of the African market, the portfolio will deliver a thorough
understanding of how this business can achieve long-term success.
The report is designed to adhere to the set page limits and marking criteria,
ensuring that the analysis is both concise and aligned with academic
standards. Ultimately, this portfolio aims to offer meaningful insights and
practical strategies to support the SME’s sustainable growth and future
success in Africa. Through this analysis, the SME will be equipped with a
UNISA
,MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
deeper understanding of the market dynamics and informed strategies to
thrive in the competitive landscape.
TABLE OF CONTENTS
INTRODUCTION .................................................................................... 3
SECTION 1: BACKGROUND OF SME/SMME
Background of Lulu’s Trading Pty Ltd .................................................. 3
Products and Services ........................................................................ 4
Location ............................................................................................. 4
Current Customers ............................................................................. 4
SECTION 2: ASSIGNMENT 01 CORRECTIONS AND SUGGESTIONS
Technological progress ...................................................................... 4
Technological progress in Africa ......................................................... 4
Lulu’s Trading technological progress in Africa ................................... 5
DECISION-MAKING PROCESS AS PART OF AFRICAN CONSUMER BUYING
Cultural influences .............................................................................. 6
Practical applications of the decision-making process ....................... 8
MARKETING ENVIRONMENT
Marketing implications relating to growth in mobile and internet access
............................................................. 9
UNISA
, MNM2615 Assignment 3 PORTFOLIO (VERIFIED ANSWERS) Semester 2 2024
Marketing strategy ............................................................................. 9
SECTION 3: ANSWERS TO ASSIGNMENT 03 QUESTIONS
Establishing a business in Africa ........................................................ 10
Industries that Africa requires ........................................................... 10
Lulu’s Trading Pty Ltd industry and contribution ............................... 12
MARKETING ENVIRONMENT
Factors of marketing environment that may affect marketing decisions
........................................................... 12
How marketing environment will affect marketing decisions .............. 13
Challenges of Doing Business in Africa .............................................. 14
Overcoming challenges of doing business in Africa .......................... 17
SECTION 4: RECOMMENDATIONS ............................................................. 19
CONCLUSION ............................................................................................. 23
UNISA
