Reference no: EM133182843

The purpose of the assignment is to select a market that fits your product as you go international with it, and decide what marketing strategies to follow.

Step #1. Product Selection. Select a U.S. product that you want to sell internationally. It can be a product from your place of work, or any product that you are knowledgeable or interested about.

You will sell this product in a foreign market (another country).

Step #2. Country Selection. Select a market (a country) based on your market screening. Following the steps for market screenings for a country that you read about in chapter 12, explain what factors would be important in your market (country) screening. Go through each of the first four steps in the screening process and describe what kind of criteria would be desirable for your product in terms of: Basic needs potential, Financial and economic forces, political and legal forces, and cultural forces.

Step #3. Select a mode of entry. Review the advantages and challenges of the different modes of entry and select the most appropriate for your type of product and country you selected. Explain why you are choosing that mode of entry over others.

Step #4. Marketing Strategies. Based on the information above, and your knowledge of the product, explain how you would modify the product so that it fits better in the new market. You should focus on the following marketing strategies:

A. PRODUCT How or what would you change about the product to better fit this new market? Explain your answer.

B. PROMOTION I. Would you use the same message to promote your product or would you change it? What would be the new message intention or theme? Explain.

II. What form of promotion would work best for the type of product and new market conditions? Select only one of the following and explain why you are selecting it: advertising, personal selling, sales promotion (discounts, coupons...), or public relations. (hint: review the advantages and disadvantages of each type of promotion and see which one fits your product best)

C. PRICE what would be the best pricing strategy to follow and why?

D. PLACE (Distribution) Can you use a similar approach to getting the product to your customer as it is used in the U.S.A. or do you want to modify the distribution of the product. Do some research of the new country's infrastructure and availability of channels of distribution? Explain your decision/answer.