Assignment:
General:
- 2,000 words (+/- 10%) Report format.
- Do you have a good hierarchy of information (cover page, table of contents, headings, subheadings that have higher rank than your body text.
- Have you included diagrams, tables, images and/or graphs.
- Do all diagrams, tables, images and graphs have a number, title and source (when required).
1. Introduction
- Introduce the business/product including size and capability.
- Why are you internationalizing?
- Where have they internationalised to so far? (If your company has not internationalized yet, explain why they have not)
- SWOT of the company based on the destination country.
- Why is internationalization a good idea for the company.
2. International Consumer Behaviour, examine and explain how the social and cultural factors of your target internationalisation country could influence consumer behaviour towards your product or service. This is followed by an overall evaluation of the strategic implications this may have on the internationalisation process, in relation to the opportunities of standardising or adapting the international marketing of the organisation. Need Assignment Help?
Note: It is imperative that you also consider the elements raised in the CW1.
- Based on the point raised in CW1, analyse the international consumer behaviour that you expect in the foreign country of choice. The principles of standardisation v adaptation require consideration.
- It is important to clearly define the direct benefits of standardisation for firms, such as economies of scale and efficiencies from the learning curve effect, but also to consider the indirect benefits that come from consumer perceptions of the consistency of company image of the firm and the effect of this on the perceived brand value.
- Factors discovered in CW1 and how it affects consumer behaviour (Use 1 of the 3 models)
- What are the direct and indirect benefits of standardization and adaptation.
- What barriers are there for your product/brand to fully standardize? Use market factors (From CW1) in relation to the marketing mix.
- Are there competitive forces that will influence the adaptation and standardization decision. Standardisation v Adaptation - pros & cons
- Use Maslow or Solomon consumer behaviour dynamics
3. Market Entry Strategies
- Which types of options are available for market entry strategy (include involvement, control and risk criteria and why they are appropriate at each stage)?
- Discuss your companies required level of involvement, control and risk appetite.
- What are the criteria used for choosing an entry strategy? (Involvement, control, risk, opportunity analysis)
- Which market entry strategy is best for your brand and what is the benefit for the company?
- What would the benefits be of the chosen strategy?
4. Conclude with an international marketing mix for the new country, including considerations regarding product/branding strategy, communication strategy; the candidate could also discuss pricing and distribution strategy.
Summarize your report by proposing a marketing mix for a product that could satisfy the new market conditions. Base your new product mix on the findings from your research. Cover the 4P's or 7P's
- Have you included all 4 P´s or 7P´s if you have a service brand?
- Have you identified all the parts you will standardise an which you will adapt?
- Have you used the course content strategies for your plan under each?
- Does your Marketing Mix take into consideration the cultural differences, the company capabilities and the market entry strategy?
References and quality:
Structure
Hierarchy of information - Headings, subheadings (different to your body text). Use of diagrams, graphs, images, tables.
- Have you used Citations for all facts and theory?
- Do you have more than 20 references (academic and topic references)?
- Have you provided a report format?
- Have you used diagrams, graphs, images, tables.