Question 3 Recommend some actions which you might take to improve the sales and marketing
of this business, especially exports and international sales.
New Zealand is a relatively small country with only four million inhabitants, so it is better to not
solely depend on it as the economy is quite small compared to other countries so there is more
risk of failure involved. Hence, this is why it is more attractive to export as it improves profit
levels and diversifies the business. As stated by Kelly (2016, p. 122) the major strategies for
business success over the long term are gaining experience, learning from others, educating
yourself, accessing SBA resources and developing a business plan. To improve international
sales, I would first develop a business plan so that I would be able to receive outside funds. I
would also research which countries would be best to export to and which of my products would
have the highest appeal for them depending on the social and cultural differences. Another thing
I would do is check for favorable exchange rates since the New Zealand dollar value has
fluctuated negatively affecting exports. I might even form a joint venture with a company with
influence in that market to enter it more easily.
Question 4 How international a company is Tiny Tots Toymakers?
There are currently four international business strategies: global strategy, transnational strategy,
international strategy, and multidomestic strategy. An international company involves aspects
such as low pressure to not increase cost and low pressure for localization, an example of this
would be swatch. Swatch is a firm which creates watches which are quite expensive, and they are
not modified at all for local standards. This does not seem to be the case with Tiny Toys
Toymakers because their toys are not that expensive and if they were, they would run out of
business. However, they do have low pressure for localization as they offer the same products to
all customers. This means that it is more of a global company, since they reduce costs as much as
possible and provide a specific product worldwide. An example of a global is BP, which is a
British oil and gas company.