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If the simulation were based on a real-world international situation, there would be many global marketing opportunities and challenges. One big opportunity that I see, that falls in line with conscious capitalism, is creating products and running your business with the environment and the people in the community in mind. According to Kotler and Keller (2016), to sell overseas, many successful global U.S. brands have tapped into universal consumer values and needs (p. 276). Companies need to care about what consumers care about in order to be successful, and this may be different depending on where you are marketing in the world. Other opportunities include increase in market share, increased profit, joint ventures, new investors, etc.

There are challenges when trying to enter the global market. A company must take into account preferences of the region to ensure their product or service meets whats the consumer is looking for. They may have to alter their product slightly in order to meet local needs, which is called product adaptation (Kotler & Keller, 2016). They must also understand foreign policy, regulations, taxes, and how to deal with all of these factors in their new environment. The experience if the simulation were real-world would have been very different as we would have had to contend with all of these factors and done a lot more market research in advance of proceeding to enter new markets. Our company would have had to incorporate communication adaptation as well. Rather than having a set of ads for the product in all markets, we would have needed to adjust our ads based on each bicycle and each region. Selling internationally must take into account price escalation, raising the price to cover the added cost of transportation, tariffs, middleman margins, and the risk of currency fluctuations so it can earn the same profit (Kotler & Keller, 2016, p. 280). We would have also had to find production centers and store fronts globally which would have taken a lot of time and research.