For Cultural differences between geographically different countries use charts from the:
Hofstede centre (www.geert-hofstede.com)
www.cim.co.uk/Resources and
www.Keynote.co.uk for market data
Business Environment Risk Index (BERI)
Scenario – Imagine you are a newly graduated MBA who has just been appointed as a special consult to the CEO of a major domestic market-based organization. They wish to expand into a select number of international markets. You are to advise them on how to accomplish this goal.
Specifically they wish you to provide guidance on
A. How to conduct an international marketing audit
B. A justification of a chosen market entry method
C. A discussion of potential strategies and tactics
Your advice will take the format of a professional business report and will include the following sections.
1) An Executive Summary
2) A brief section providing a case background including company size, competition and target market/country
3) An environmental audit section analysing the macro and micro environments using the appropriate tools (PESTEL, The 5 C’s Framework, 5 Forces analysis) Summarize the findings of the audit in a SWOT Box with a brief discussion of the most important macro and micro factors currently affecting the chosen target market.
4) Set 3-5 SMART global marketing objectives for going international.
5) Decide upon and justify upon your global market entry strategy (export, franchise, joint venture, strategic alliance, acquisition, FDI).
Provide a “Plan B” or contingency plan that could be implemented if the original entry method proved to be unsustainable.
6) Global marketing strategies and tactics for this organization. (Segmentation, Targeting, Positioning and Product, Price, Place, Promotion strategies).
7) What are the implications of your choice? (Cost, resources, timing, opportunities), and how will the success of this strategy be measured.
Guidelines:
This is both an academic and a professional business report and there needs to be clear evidence that the theoretical subject matter is understood and is integrated with the practical elements of the task. As a masters assignment there is a need to include 12 – 15 references to the theory, concepts and models that are relevant to the report.
As such it would be expected that you format the report as if you were presenting it to your senior management team in a real life industry situation.
An Executive Summary and appropriate labelled headings and sub-headings are key to this presentation.
Key issues that will be taken into consideration are:
• Evidence of Reading/Application of Theory
• Discussion of Topic
• Use of Applied Examples in Context
• Recommendations and Conclusion.