Reference no: EM13736894
This group project is intended to enhance your understanding of global marketing through preparing a global marketing entry plan.
Background:
Your group should pretend to be a firm (either one already existing in the US, or one that you choose to make up as a group). In other words, you can choose to go with a fictitious company and product that do not exist, or you can choose a company and product that already legally exists in the US. Your firm has decided to enter a new country (that it does not already do business in) other than the US. Further your firm has decided to enter with a selective/subset of products from your product portfolio. You have to present a Global Marketing Entry Plan for a target market in the country you have chosen to enter into.
How to:
Read Global Marketing Management thoroughly. Concentrate on the sections called "Planning for Global Markets". When you get to the planning process, you will remember that we discussed all four phases of the process in class. In your report however, you will focus only on Phase 3, while briefly reporting (1-2 pages) on Phases 1 and 2 (with a few examples, figures, pictures).
The main result of this exercise is a presentation you will make to the rest of the class. The presentation is worth 200 points and you will be given 30 minutes to present. You will have to make decisions on many aspects of the global entry as a group (e.g. country of choice, target markets, product portfolio for entry, budgets, the 4Ps of the Marketing mix, leadership/management style, personnel, cultural adjustments, and ethical considerations). Further, you will also have to justify your choices within the context of the information you possess.
In order to organize your thinking and your presentation use sample Marketing Plans. Examples of marketing plans are available in your text, on the web and in the library in many other marketing text books. There is an additional working example in your MKT 301 text book (the prerequisite for this course). Use any of those plans as a template. Just remember that you are introducing this product internationally and not in the US.
Research the country of your choice thoroughly. Do not leave any stone unturned in understanding the country and its geography, culture, people, demographic variables, history, mythology, habits, art, religions, family and social structures, foods, competitors, political structure, legal structure and any other variable that you think is important and might impact your entry into that market adversely. Divide the work up between group members.
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