International Marketing Assignment
Length : 3,000 words (+/-10%).
DESCRIPTION: You are to imagine that you represent the market implementation group of an existing multinational corporation, (that is head-quartered in Asia), that is deciding to enter a new country (this could be in any part of the world).
Your responsibilities, as a group, are to:
1. Chose a foreign country to enter for the existing multinational corporation,
2. To develop an international marketing plan for and to submit this plan in a written format.
To ensure you only focus on relevant areas, conduct your analysis in the content of the impact the environmental forces will have on key components of your marketing strategy, e.g. potential target markets, the 4P's and positioning strategies. If an environmental issue does not impact on any of these areas, it is not relevant and therefore should not be included in the plan. Ensure that you supplement these areas with a rich variety of other relevant academically referenced sources. If the country's Asian origin poses some advantages or challenges, discuss these as well, citing how you will surmount the challenges or exploit the advantages, if any.
THE MARKETING PLAN (written report):
The following sub-heading should provide the structure of your plan.
1. Title Page (not included in the word count):
a. Module code and title,
b. Word count,
c. Names and ID/registration numbers for each group member.
2. Executive Summary:
a. This is the last section written and it should represent your main goals and recommendations. It should be no longer than 1 page.
3. Table of Content to include page numbers for sub-sections (not included in the word count).
4. Company's mission statement and short profile of the company to include: a. A Brief description of the company, product(s) and current target markets.
5. Country selected - briefly identify the country of intended operations and justification for its selection, to include:
a. Market (size) potential
i. Economic/Legal environment: e.g. GDP, poverty, inflation rate, major imports/exports, distribution of wealth, principle industries, trade restrictions etc.
ii. Cultural environment: languages, religion, family structure, roles of men and women, traditions, education levels etc.
iii. Competitive environment: focus on the company's direct competitors in the country. Discuss how the company will be positioned relative to the competitors and if there are any concerns.
iv. Physical Infrastructure: relating to ease of logistics.
v. Geography: climate and types of areas.
vi. Media/Technology: types available.
6. Entry mode selection:
a. Justify your entry mode selection by analysing the strengths and weaknesses of each and how it relates to the market potential of the country you have selected.
7. Target market, provide an analytical description:
a. A reasonably detailed profile of 1 or 2 target markets within the foreign market.
b. If this differs greatly from the company's existing market, explain how the company will change its strategy to meet the needs of this new market.
c. Justify the target market chosen by focusing on the benefits of the company's product(s) that will meet the target markets needs.
8. Positioning strategy, consider:
a. The design/redesign of the image of your product(s) to meet the markets identified.
b. Your ability to deliver the target market (added) value.
9. Place strategy, consider:
a. The factors, including infrastructure and geography that will affect your choice distribution channels.
b. How are going to manage them?
10. Product strategy, consider:
a. Adaptation/standardisation - how would you deal with this issue in specific terms in regards to your chosen market?
11. Pricing strategy, consider:
a. Justify your selected strategy in relation to the market potential of the country selected.
b. Optimal returns in terms of your marketing objectives; to increase market share or attain maximum profits?
12. Promotional strategy, consider:
a. The factors, including media and technology that will affect your choice of the promotional strategies which will effectively communicate to your potential customers the value of your product(s).
13. Conclusion: summarise your findings and recommendations to include the most pivotal issues you have identified and how you are going to manage them.
14. References and Appendices (not included in the word count).
WRITING MECHANISMS:
• Use Times New Roman Font.
• Use 1.5 spacing for the main body of the plan.
• Number pages.
o Tables, charts, figures, references and appendices must be used appropriately and referred to within the main body of your plan, they must not be used to circumvent the word count.
o All materials submitted must be readable/assessable as A4 printed material; do not include video, sound or any other form of interactive files.
• Spelling and grammar must be checked to ensure accuracy.