The required framework for the International Marketing Audit and Plan is provided on the next page. Please also see the Country Notebook in the textbook and on Blackboard which will provide you with additional information in relation to what is required of an International Marketing Audit and Plan. In order to complete this assignment, you will need to identify a country [other than the one you are from] to market at new product into (please note you also cannot select Australia, USA, Canada, New Zealand or UK or China as the chosen country). You will also need to identify a new product or new brand (not a service) that does not already exist in your chosen country that would be suitable for exporting from Australia into this chosen country. Your Marketing Audit and Plan will need to refer to the socio cultural and economic factors impacting your chosen country and develop clear links between these factors and marketing activities. For example, with relation to the socio-cultural aspects, you should provide more than just a collection of interesting facts. Rather, the cultural analysis should try and interpret the meaning of the cultural information i.e.: how does the information help in understanding the effect on the market. The fact that the majority of Japanese consider themselves either Shinto or Buddhist (or both) is interesting, but more important is the effect that these belief systems have on market behaviour and the acceptance of your product. For the impact of the chosen country?s economy, you will need to address the following:
General economic data that serves as a basis for evaluation of the economic soundness of the country under consideration;
Political stability (instability) which may influence any investment decision;
Government intervention in the market. When writing this report you are to act as the Marketing Manager for your chosen business and you are compiling an International Marketing Audit and Plan that you will present to your Managing Director.
From this report, your Managing Director should be able to make an informed decision as to whether or not to enter the new international market you have suggested. Please note: your Managing Director is educated and thus, they will not require concepts and marketing terms to be defined for them.
HINT: You need to present a convincing and informed argument. Length: This assignment should be 4000 words in length [excluding appendix, reference list, contents page & cover page]. Submissions that are over this limit may attract a penalty. Please be concise and use tables to summarise information. In text and end text references must be included so that the Managing director can verify the source of your research.
WARNING: This is a summary of the entire unit, is worth 60% and thus it will require significant effort. This assessment must be analytical and not purely descriptive. You must show evidence of analysis of the information provided and how it relates to your target market. Copy and paste of material is not acceptable. Descriptive work will attract heavy penalties to the point of a failing grade being awarde. The aim of this marketing plan and audit is to show the feasibility of introducing the brand Chic Empire® into the Turkish market starting in 2013. Chic Empire is 100% Australian owned sheepskin boot manufacturer and distributer. The company is a member of the Australian Sheepskin Association and prides itself on producing the highest quality products ready for distribution anywhere in the world. By firstly undertaking a socio-cultural and economic analysis of Turkey we can see how suitable the country is to receive these products.
Analysis of the product itself, the market and the competition will outline the best direction in which to take to achieve the most successful outcome for the brand in this region. With the preliminary market plan, the objectives which the company hopes to achieve will be discussed and the strategies in which they can be achieved will be introduced. Turkey's location on the world map and the positive changes that are being made to economic reform and openness to trading are what make the country such an attractive market to introduce the Chic Empire® brand. The climate in this region is also suitable for the sheepskin boots that are to be sold, and with an increasing gross personal income amongst the increasingly young population, there is room for massive growth with the right strategies put in play. Turkey is where east meets west and even with the majority of the population being Muslim; a westernised economic and social perspective is gaining dominance.
The product aimed to be introduced to the market is advantageous as it is a niche product amongst the footwear industry. Where a large percentage of the shoes made a distributed in Turkey are made of leather, Chic Empire® provides an alternative in winter footwear, making the product out of quality sheepskin material. The fact that it is made in Australia.