Expert answer:international marketing project

  

Expert answer:Students working in teams of 2-3 must complete a research paper on some aspect covered in the CB text. For example, a team might look at learning and identify other models of learning or expand on the models of learning covered in class. Students must use 10-15 legitimate sources of information (journals, news articles from leading news outlets like the WSJ, NYT, Wash Po, websites such as .gov or APA. Under no circumstances will Wikipedia and similar sites be acceptable) to craft a detailed and cogent background of the theory.Students may focus on (but are not limited to):The history of development of the theoryMajor researchers/ practitioners of the theoryConcrete examples of how the theory works in practiceControversy among different groups related to the theoryHow the theory relates to other aspects of CBPapers should be 10+ pages single spaced — the cover, bibliography, and figures/images are excluded from this limit. This page limit does not imply suitability or designate outstanding performance. Ten disorganized, poorly researched, superficial pages will receive a lower score than 8 well-constructed pages containing critical thinking supported by substantial research.
outline__international_marketing__1_.doc

Unformatted Attachment Preview

Don't use plagiarized sources. Get Your Custom Essay on
Expert answer:international marketing project
Just from $10/Page
Order Essay

International Marketing
Plan Guide
Compiled from plan developed by Insearch, University Technology Sydney and
additional sources from Darren Paproski, Vancouver Island University
© 2010 All rights reserved. Insearch University of Technology, Sydney and Darren
Paproski, Vancouver Island University.
TABLE OF CONTENTS
Acknowledgments
Executive Summary (1 page maximum – overview of entire project)
Table of Contents
List of figures, Tables and Matrices
(NB: These are listed at the end of the Contents)
1. Introduction
a. Brief overview of the company, its main products, target country, main target
markets, and primary entry strategy (1-2 pages)
2. Situational Analysis (4-5 pages)
a. Company Analysis
b. Market Analysis
i. Business Environment analysis
ii. Political/Legal/Institutional Environments
iii. Regulatory Environment (Present and anticipated)
iv. Economic Environment (Conditions and Trends)
v. Social and Cultural Environment (Factors and Trends)
vi. Demographic Environment (Data and Identification of Trends)
vii. Technological Environment (Factors and Trends)
viii. Natural Environment (Effect of Seasonal or Climatic Factors)
ix. Physical Environment (Infrastructure Indicators)
x. Nature of Demand
xi. Size and Extent of Demand
xii. Product Category Stage of Product Life Cycle
xiii. Structure of the Industry
xiv. Competitive Structure of the Industry
c. Competitor Analysis (in country of investment)
3. OBJECTIVES (.5 pages)
a. 5.1 International Objectives
b. 5.2 Market Objectives
4. RECOMMENDED MARKETING STRATEGY (1-2 pages)
a. Target Markets Identification and Segmentation Strategy
b. Market Positioning
c. Market Entry Strategy
5. MARKETING MIX STRATEGIES AND TACTICS (1-2 pages)
a. Product/Service and Branding Strategy
b. Place (Distribution) Strategy
c. Price Strategy Structure
d. Promotion Strategy (including Promotional Budget)
6. BIBLIOGRAPHY/REFERENCES
7. APPENDICES
2
THE MARKETING PLAN
This report (or guide) has been written as an aid to developing an international marketing plan. It
is divided into a number of key sections that are a suggested framework for your plan.
The guide is a generalized approach to writing an international marketing plan. Each section
identifies many key issues that can be addressed in the preparation of such a plan.
Not all the issues are relevant to each company’s case. Also, additional issues may arise that are
not covered in this guide. You will, however, find it a useful tool in tackling many of the questions
that do arise.
It can be used to document an approach for new market entry or existing market expansion. A
key assumption is that only one new country market will be considered at a time.
The guide is relevant to marketers of both products and services. For simplicity, however, the
term “products” is used throughout.
Planning is an essential part of developing a successful international business. It is a process that
examines a firm’s business in relation to:
• Where it is now
• Where it wishes to go
• How it can get there
Generally it follows the process of:
• Company and market assessment
• Generation of achievable objectives
• International strategy development
• Evaluation of alternative marketing strategies
• Operational programs to support the strategy
The plan is principally of benefit to the company’s managers and current or potential owners of
the business. It is a document prepared at a point in time that should describe a clear and
concise series of activities that will achieve a particular international marketing objective, in line
with the selected marketing strategy.
DO NOT fill your marketing plan with a lot of irrelevant information. All information contained in
the report must be analyzed and related back to the company and the new market.
Remember: The plan must be action oriented!
3
5.0 OBJECTIVES
5.1 International Objectives
Why is the company seeking to expand internationally?
• Seeks growth via international business
• Will improve cost position through economies of scale
• Market diversification etc.?
5.2 Market Objectives
The first market objective a company may define for a particular overseas market is which market
segment(s) should the firm focus its limited resources on.
This targeting is required because companies usually cannot satisfy the needs
and requirements of each segment equally well. From an examination of these
different needs, it will become apparent which products and services within the
company’s portfolio will be the most attractive to these market segments.
The company can also define its objectives in terms of how its market share after
a given time will compare to its competitors, for example:
• Market leader
• Market follower, etc.
A key consideration is where can the company’s marketing effort yield the
greatest return? In other words, where is Return-On-Investment (ROI) highest?
The company should define its market objectives, in line with the key issues for
international expansion, as identified in section 3.0 Situation Analysis. Often,
objectives will be defined in terms of quantity (volume of units) or value ($) of
goods sold over a given time period.
Financial objectives follow from the above analysis. Marketing programs must
ultimately be funded from cash flow generated within the market, with profits
being used by the company for:
• Repatriation to shareholders
• Funding further growth
• etc.
A number of profit analyses can be used:
• Contribution analysis
• Break-even analysis
• ROI analysis, etc.
All of these analyses (quantity/value objectives, profitability objectives) should
have a time frame:
• Short-term (1 – 3 years)
• Long-term (4 – 5 years and longer)
Objectives should be measurable wherever possible.
4
6.0 RECOMMENDED MARKETING STRATEGY
The recommended marketing strategy is a result of the analysis in Appendix 11.3: Evaluation of
Alternative Marketing Strategies.
Remember that if you decide not to proceed with market entry or expansion, this can also be a
reasonable strategy option.
Target markets and positioning statements should be clearly identified. Often it is useful to clearly
define a positioning strategy in a single sentence which summarizes in a general way what the
company seeks to achieve and how it will do it. For example:
“We will achieve market leadership by providing quality ergonomic furniture solutions to architects
that best meets their needs and requirements.”
An important positioning characteristic of a brand – whether a car, a soft-drink, a bicycle or a
computer – is its position on the perceived quality dimension. Is it an economy, value, premium or
ultra premium entry? In addition, with regards to a perceived quality category, is the brand the
best, or is it merely competitive with other brands in the same class?
“To discerning people who want the best, Mercedes is the car that will give you the benefits of the
latest technology combined with safety and power, offering maximum reliability and state-of-theart quality“.
Entry Strategy
When a company makes the commitment to go international, it must choose an entry strategy.
This decision should reflect an analysis of market characteristics (such as potential sales,
competition, strategic importance, strengths of local resources, cultural differences, and country
restrictions and deregulation. In addition, company capabilities and characteristics, including the
degree of near-market knowledge, marketing involvement, and commitment that management is
prepared to make must be considered.
Companies most often begin with modest export involvement. A company has four different
modes of foreign market entry from which to select: exporting, contractual agreements, strategic
alliances, and direct foreign investment. The different modes of entry can be further classified on
the basis of the equity or non-equity requirements of each mode. The amount of equity required
by the company to use different modes affects the risk, return, and control that it will have in each
mode.
5
Alternative Market-Entry Strategies
Exhibit 11.2
11-14
6
7.0 MARKETING MIX STRATEGIES AND TACTICS
Break each of the 4 Ps into Strategy and Tactical Plan elaboration. You need to provide a lot of
detail, particularly in the Tactics component. The marketing mix strategies and tactics must be
integrated and consistent to achieving company objectives.
How product, promotion, distribution, and pricing strategies evolve in international marketing is
dependent on the approach to internationalization the company takes. Therefore, you need to
consider your marketing mix strategy in light of your market entry strategy addressed in Section 6.
Differing strategies and market tactics may be required for various target segments. For a given
target segment, alternative strategies and programs should be formulated and evaluated as to the
effectiveness of each in achieving company objectives.
Some of the issues that might be relevant include:
7.1 Product
Make sure that product strategies support the company’s overall strategy.
• Modify existing product(s) – (what features and benefits will your
• products provide?)
• Develop new product(s)
• Add or drop products from the line
• Determine product positioning
• Develop branding approach
• Register product designs, brand name, trademarks, etc.
• Tailor product packaging and labeling to the market
• Initiate product registration
7.2 Price
A number of issues are important in pricing products for overseas markets:
• How will product price be determined (demand-based or cost-plus, marginal costing or
full costing)
• Price level compared to competitors (premium, parity or discount)
• Price variation (geographic margins, discount structure)
• Margins that will be offered to local partners such as agents, distributors, etc.
• Penetration pricing, market skimming etc.
• Terms of sale (CIF, FOB etc.)
• Terms of payment (cash in advance, letter of credit, etc.)
7.3 Distribution
A number of distribution options are likely to be available to your company. You
will need to assess the distribution (and production) options in accordance with
the opportunities available and the resources of the company. These may
include:
• Direct export of branded products
• Indirect export of branded products
• Joint venture with a local partner with a shared market development responsibility, and
possibly a shared manufacturing responsibility
• License technology to a company already established in the market (Manufacturing
Under License, or MUL)
• Establish market franchises
7

Purchase or establish your own means of distribution in the targeted country
You must decide whether you are going to use single or multiple channels.
Identify potential partners for the company (distributors, agents, joint venture partners, etc.) based
on the chosen production/distribution option and profile according to Important selection criteria
such as:
• Established company with proven track record of business success
• Sales and marketing expertise and extent of geographical distribution/network coverage
• Access to funds to support and sustain market entry for the company’s products
• Personal contact in each of the targeted end-user segments
• High profile/integrity/good reputation, as perceived by end-users
• Complementary products manufactured/distributed
• Technical competence/ability to communicate to end-users
• Geographical extent of market coverage
• Other criteria which end-users may consider to be important
• Extent of interest in locally representing the Local countryn company
Having decided on one or more local partners, you must decide whether to
negotiate exclusive or non-exclusive distribution arrangements with them.
7.4 Promotion
In order to promote your products and your company you must consider a
number of major issues:
• Overall communication message that is suited to the local culture
• “Pull” or “Push” approach
• Type of promotion (personal selling, point-of-sale promotions, direct mail, etc.)
• Media to be used (radio, television, print, etc.)
• Use of Social Media platforms such as Facebook, Youtube, Twitter, etc.
• Branding (family versus individual)
• Dealer incentives
• Trade shows, conferences, etc., in which you will participate
• Communication Extension vs. Adaptation
• Must the specific advertising message and media strategy be changed from region to
region or country to country? What are the arguments for each?
• Global Choices with respect to advertising messages:
o Prepare new copy for foreign markets in host country’s language
o Translate the original copy into target language
o Leave some or all copy elements in home country language
8
11.0 APPENDICES
The Appendices allow you to include useful information without disrupting the development of
your argument in the body of the report with copious data.
APPENDIX 11.1 SITUATION ANALYSIS 1
11.1.1 Company Analysis
Briefly detail how the company is structured:
• Publicly or privately owned
• Main shareholders
• Associated organizations
• Key departments and their relationships
• Number of employees
When was the company established?
What is the core business activity of the company? What industry are you in and what are the
major industry trends in Local country and overseas? What is your target market segment(s) in
Local country? Who are your important customers?
What are the company’s operating revenues for the past three years?
Fully describe the company’s products/services in terms of:
• Breadth of product range (i.e. wide or narrow)
• Product features
• Product benefits
• Product applications
• Approximate contribution to venue of major product lines
Who are the key managers? What are their skills and experiences and how does this relate to the
success of the venture?
What R & D activities does the company conduct? What percentage of revenue is spent on R & D?
What is the status of the company’s current technology (ideas, prototypes, etc.)?
What patents/copyright or trademarks does it hold?
What competing companies have technologies that are superior or equal to yours?
Describe the company’s domestic market position:
• Market leader
• Market follower etc.
Who are its main local country competitors? Are the major competitive products manufactured
locally or overseas? What is the company’s and its competitor’s respective market share?
Does the company have access capacity for export (if relevant)? How might this be expanded?
What are the critical product components and will there be problems in sourcing supplies?
What are the financial resources of the company?
1
For more detail on various aspects of Situation Analysis see www.netmba.com.
9




Does it have the funds available to support an effective market entry/expansion
programme overseas?
Where are the funds coming from and when will they be available?
How accessible are the funds and would they be available for an export initiative?
What are the company’s limits on funding overseas initiatives?
11.1.3 Market Analysis
A successful international market strategy requires identification of an attractive overseas market
and establishment of a competitive position within that market.
Accurate market analysis is essential for these tasks.
Before analyzing the market, you should provide some rationale as to why you have chosen a
particular country for investigation. Also describe what selection criteria was used.
11.1.3.1 Business Environmental Analysis
What are the main environmental factors influencing market demand for the relevant product
category, and therefore the company’s operation in the country.
11.1.3.1.1 Political/Legal/Institutional Factors
List factors relevant to your company’s activities/products within that country.
Include:
• What is the country’s geographical, political and legal proximity to local country?
• What is the level of political stability in the country?
• How will the various elements of environmental climate be likely to impact on the demand
for the company’s products?
Are there any expected legislative changes that will impact on your market entry?
11.1.3.1.2 Regulatory Environmental Factors (Present and Anticipated)
Are there are specific relevant regulations related to your product with respect to product testing,
safety standards, advertising restrictions, zoning or bylaw restrictions? Are any of the current
regulations likely to change?
What tariff and non-tariff barriers exist for imported products?
• Duty rates?
• Quotas
Do these barriers differ for local and non-local manufactured products?
Are there any restrictions on remitting licensing and royalty fees overseas?
What standards and regulations are applicable to these products?
What are the certification requirements?
To what extent do the regulatory standards govern manufacturing, promotion, labeling, packaging,
distribution and pricing?
Who are the major regulatory authorities? Provide details of who should be approached for
product registration.
Outline the registration/certification process. What are the typical registration delays and costs for
this product category?
10
11.1.3.1.3 Economic Conditions
Provide a brief economic overview with an assessment of the following economic indicators:
• Population size
• GDP
• Current and forecasted economic growth
• Inflation rate
• Unemployment
• Interest rates (base lending rates)
• Disposable incomes
• Other relevant indicators
11.1.3.1.4 Social and Cultural Factors
Provide information on any social and culture factors that will impact on your firm’s
activities/products within that country.
Include:
• What is the country’s cultural and language affinity with local country?
• Level of entrepreneurial spirit
• Attitudes (e.g. health, environmental consciousness, etc.)
• Leisure interests
• Any social trends that you may be able to take advantage of?
11.1.3.1.5 Demographic Trends
List all relevant demographic trends in the target overseas market (age distribution, per capita
income, level of education, socio-economic groupings, etc.)
11.1.3.1.6 Technological Environment and Trends
List all relevant technological factors that aid or inhibit product or service delivery or relationships
with buyers or suppliers. Technological factors may also have implications for the type of
promotional media used. For example, does your target market have access to television, internet,
mobile phones, etc. Are there any trends in accessibility and how might they affect your company.















Recent technological developments
Technology’s impact on product offering
Impact on cost structure
Impact on value chain structure
Rate of technological diffusion
Government research spending
Industry focus on technological effort
New inventions and development
Rate of technology transfer
Life cycle and speed of technological obsolescence
Energy use and costs
Changes in information technology
Internet
Mobile technology
11.1.3.1.7 Natural Environment (Effect of Seasonal or Climatic Factors)
Only include details that impact on your company’s activities in the target country, in terms of
supply, storage, distribution, demand, etc.
11
11.1.3.1.8 Physical Environment (Infrastructure Indicators)
• Number of airports (including freight facilities at airports)
• Number of ports and types of facilities
• Length/quality and facilities of the rail network
• Quality of road network
• Description of telecommunications, media and information technology environment
• Degree/percentage of urbanization
• Level of literacy
• Number of telephones/radios/televisions/cars/computers/daily newspaper circulation
11.1.4 Nature of Demand
Can the market be meaningfully segmented or broken into homogeneous groups of buyers?
Identify these major en …
Purchase answer to see full
attachment

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 30% with the discount code ESSAYSHELP