Homework: Developing a Marketing Strategy for a Multinational Company
Explore the Internet to find a multinational company for which you would enjoy building new consumer products. Imagine that you are the marketing manager in charge of new products. The company has tasked you with creating and launching a product that is currently not on the market in any country. This consumer product should be a proposed extension of an existing product line or a co-branded idea of your own creation.
Write a 3 to 4 pages paper in which you:
i. Provide a brief summary of the company and product you would like to introduce for them.
ii. Determine the key approaches that you will use in order to incorporate branding and co-branding opportunities.
iii. Propose your strategy for advertising the new product within other countries. Determine whether the content of the ads would be similar to the standardized ads geared toward other world markets or if they would be customized for a new country. Provide a rationale for the response.
iv. Select a country as a new market for the new product. Next, predict the market segmentation variables for the new product in the country that you have selected (e.g., geography, psychographics, and demographics).
v. Define the company's main types of pricing strategies and target market objectives for the new product.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this homework are:
i. Integrate the concepts of market segmentation, product development, and pricing policies into viable marketing strategy to fit a variety of international market environments.
ii. Construct product distribution channels and logistics to meet marketing objectives and fit a variety of global market environments.
iii. Analyze an integrated marketing communication (IMC) strategy to support global marketing operations.
iv. Use technology and information resources to research issues in international marketing.
v. Write clearly and concisely about international marketing using proper writing mechanics.