Lumen Learning sells English-language courses online. Overseas sales currently provide 8% of its revenue. The business wants to increase international sales.
Option 1: Translate its website and adapt online promotion for three overseas markets at a cost of £260,000
Option 2: Open a teaching centre abroad at a cost of £1.4 million
Justify which one of these two methods Lumen Learning should use to compete internationally.
37 exam-style questions on Edexcel GCSE Business 2.1 Growing the business, covering 2.1.1a Internal (organic) growth, 2.1.1b External (inorganic) growth, 2.1.1c Ownership for growing businesses, 2.1.1d Finance for growing and established businesses, 2.1.2a Why aims and objectives change, 2.1.2b How aims and objectives change, 2.1.3a The impact of globalisation on businesses, 2.1.3b Barriers to international trade, 2.1.3c How businesses compete internationally, 2.1.4a Ethical and environmental considerations, and 2.1.4b Pressure group activity and the marketing mix. Each one has a worked solution and a mark scheme showing where the marks go.