Assignment: Create An International Business Plan
Step 1: Develop a Marketing Strategy
Develop a marketing strategy for the industry in which your client organization belongs. Your marketing strategy should incorporate the components described here (and in Steps 2-3).
To develop your marketing strategy, identify and assess the following components:
1. your organization's main competitors in the country
2. market and segment growth over the next three years
3. market and segment profitability over the next three years
4. underlying costs and cost structure
5. distribution systems channels and distribution and supply chain strategy
Step 2: Assess the Characteristics of Your Client Organization's Potential Customers in the Selected Country
As you continue developing your marketing strategy, the next step is to make recommendations to Gustavo on particular aspects of the client organization's marketing strategy that would be tailored to the selected country's market. Specifically, address the following components:
1. marketing mix in the country
2. promotional practices
3. pricing strategy
4. branding and branding strategies
Step 3: Assess Your Client Organization's Use of Web Networks and Social Media for E-Marketing
Assess your client organization's use of web networks and social media for e-marketing, given the unique ways in which computers, smartphones, the internet, and social media are used among the country's consumers. As you undertake this assessment, read more about the following topics:
1. management, strategies, tools, and practices in e-marketing
2. crafting a digital marketing strategy
3. key elements of web analytics
4. customer relationship management (CRM)
5. social CRM
Evaluate the client's e-marketing strategy from the viewpoint of its effectiveness in the selected country. Make sure your marketing strategy looks at the clients use of web networks and social media for e-marketing given that social media and use of computers change country to country.
Step 4: Make Financial Projections and Evaluate Accounting Standards in the Selected Country
Include an estimate of the time frame needed for the client to break even:
1. Prepare market share estimates for your client organization's product in the selected country and revenue forecasts for the next three years.
2. Provide justification for your projections, such as prior industry performance in terms of unit sales, market size, and profit margins in the country.
3. Estimate the time frame needed for the client to break even.
Read more about financial break-even analysis as you make your estimates.
Next, assess any financial and accounting challenges by answering the following questions:
1. Examine the financial statements of competitors in the selected country. Are there any differences in terms of language, currency, or the type of statements (income statement, balance sheet, financial statement format, extent of footnote disclosures, and the underlying GAAP [generally accepted accounting principles]) between your client organization's reports in the United States and the reports required by law in the selected country? Review The Role of Similar Accounting Standards in Cross-Border Mergers and Accounting Conventions and Standards for assistance.
2. How is the reporting of your client organization's financial results affected by the accounting standards in the selected country?
After you have made three-year financial projections and examined accounting standards associated with entering the new country, continue to the next step, where you will address governance and corporate social responsibility (CSR) issues.
Step 5: Address Governance and CSR Issues
As you continue developing your business plan, address your client organization's governance and corporate social responsibility (CSR) issues by answering the following questions:
1. How do your client organization's governance and accountability and code of conduct or ethics address risks such as bribery and corruption? Search for Transparency International's Corruption Perceptions Index online and make recommendations for changes to the code, if needed, for operations in the selected country.
2. Do your client organization's corporate social responsibility (CSR) policies in the United States address local community interests, stakeholders' concerns, and supplier relationships? Make recommendations for CSR changes to the program in the selected country, if needed.
Step 6: Prepare Strategy Implementation Plan
The next step is to specify the major factors to be tracked for strategy implementation using the four perspectives of the balanced scorecard: learning and growth perspective, business process perspective, customer perspective, and financial perspective.
Step 7: Complete Your Final Report
Your final report should include key findings in marketing strategy (Steps 1-3) and financial value and strategy implementation (Steps 4-6 ). It should also include an executive summary.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.