The global market has now turned into an extremely costly exercise for any type of organization. Therefore, it becomes extremely important for the consideration of certain ideas and concepts of marketing. The most important concepts within any type of business are sustainability and feasibility. In the current era of globalization, there is an increased need for all of the ideas and concepts to be feasible and sustainable. In consideration with these two concepts, this essay will be focusing on discussing the concepts from the perspective of international marketing. Also, it will be illustrated as to why it is extremely important for ensuring that the international strategies of marketing are sustainable as well as feasible.
For a project which has been proposed, it is important to present analysis and evaluate the project in order to determine whether the project proposed is feasible technically or does the project’s cost come under the companies feasibility and will this project proposed will be successful or not (Young, 2009, 376-383). When there is large capital at risk, the studies of feasibility are conducted. This study refers to evaluating and analysing the potentiality of a proposed strategy or project on the basis of extensive research and investigation for supporting the procedure of taking the decision. The main of this study is to disclose the fact if the project or strategy is feasible or not (Marcis, 2009, 230-41). This is done by rationally and objectively uncovering the weaknesses and strengths of a current strategy or a proposed one, threats and opportunities that exist within the environment, the resources needed for carrying through, and finally an assumption about success or failure. In the most basic terms, two criteria to be followed for the judgement of feasibility are attainable value and cost required.
Importance: A study of feasibility is necessary and has particular results. If a study of feasibility is not formulated then it results in failure of a project because the project was out of scope of a company yet because of no feasibility study the company had to face failures. Feasibility also helps in saving resources and hence leading to sustainability.