Reference no: EM131497207 , Length: word count:4000
Report 1 - Topic - Strategic international marketing plan (Part A)
It is important that students follow the format and guidelines as outlined below.
This is the first of a two part strategic international marketing plan for a product or service to be launched in a foreign country market. Students are required to choose a product or service, and the new foreign country market that it will be launched in.
The objective is to provide students with the opportunity to apply the key concepts of international marketing to a real world marketing challenge. This first part of the strategic international marketing plan emphasizes the need to understand the global environments as an essential first step in preparing a strategic international marketing plan.
Format and guidelines
The report should be structured according to the following format and also in accordance with the presentation guidelines (pp. 11-13) as outlined in the Communication skills handbook (2010).
Strategic international marketing plan
Letter of transmittal
Title page
Table of contents
Introduction - this section should clearly state the purpose, limitations and scope of the report.
Background - this section should introduce the product or service to be marketed in the foreign country market you have selected and provide relevant information about its background. The following issues should be addressed.
- Introduce the company that will launch the product or service.
- Description of the product or service including its features and benefits.
- Rationale for selecting this product or service.
- Background on the selected foreign country market.
- Rationales/reasons for introducing the product or service into the selected foreign country market (e.g. growing trend in the selected foreign market).
Environmental analysis - this section is to analyse the external environment (i.e. economic and financial, cultural, political and legal) of the selected foreign country market and should address the following:
- Analyse the relevant factors in the economic and financial environment and discuss the outcomes and their potential marketing implications for your company or product/service.
- Analyse the relevant factors in the cultural environment and discuss the outcomes and their potential marketing implications for your company or product/service.
- Analyse the relevant factors in the political and legal environment and discuss the outcomes and their potential marketing implications for your company or product/service.
Conclusions - this section should essentially summarise the main points and findings of the report.
List of references - this section should include all reference materials used in the report. Harvard AGPS referencing style should be used in the report.
Report 2 - Topic - Strategic international marketing plan (Part B)
Length: No more than 4000 words - excluding the content in Report 1 which is to be integrated into Report 2. Please refer to the 'Format and guidelines' section below for more detailed information. (When grading a report, the marker does not need to read more words than the stipulated word limit.)
This is the second part of the strategic international marketing plan to be developed by students which extends Report 1. With the background information and the understanding of the environment in Report 1, the emphasis of this second part of the strategic international marketing plan is on the target market and competitive analyses, and the development of appropriate market entry strategy as well as the international marketing mix strategies for the product or service that will be launched in the selected foreign country market (as identified in Report 1).
Format and guidelines
The report should be structured according to the following format and also in accordance with the presentation guidelines (pp. 11-13) as outlined in the Communication skills handbook (2010).
Letter of transmittal
Title page
Executive summary - this section should state the major purpose, the method of analysis, the findings and recommendations of the entire report (including those presented in Report 1). It should not be more than 1 page in length.
Table of contents
Introduction - this section should clearly state the purpose, limitations and scope of the report.
Background - include this section from your Report 1 with minimal changes. This particular section WILL NOT be assessed but rather to provide the reader with the necessary background information.
Environmental analysis - include this section from your Report 1 with minimal changes. This particular section WILL NOT be assessed but rather to provide the reader with the necessary information.
Target market and competitive analysis - this section should identify ONE target market segment (within the selected foreign country market in your Report 1) and provide adequate justifications for its selection, and analyse the competitive situation facing the company in the selected target market segment. The following issues should be addressed.
- Identify the target market segment and provide appropriate justifications to its selection. Your selected target market segment can be based on a combination of: demographic (e.g. gender, income, education), geographic (e.g. region, city size, climate), psychographic (e.g. lifestyles, personality attributes) or behavioural (e.g. price sensitivity, end use, occasion, benefit expectations) variables.
- Analyse the target market segment conditions (e.g. demand and potential, consumer/business buying habits).
- Describe and analyse the key competitors (preferably 2 most significant ones).
- Compare and contrast the product or service with the key competitors' product or service (e.g. features, packaging, pricing, promotion and advertising methods).
Target market entry strategy - this section is to identify the appropriate market entry strategy for the target market. Adequate justifications to the market entry strategy are essential.
Recommendations - this section should provide recommendations on appropriate international marketing mix strategies (i.e. the 4Ps strategies) for the selected target market. Justifications on the recommendations are required. The following issues should be addressed.
- Discuss the international product strategy (e.g. product standardisation, product adaptation, product branding) and provide appropriate justifications for your recommendation.
- Discuss the international pricing strategy (e.g. market skimming, market pricing, penetration pricing) and provide appropriate justifications for your recommendation.
- Discuss the international promotional/communication strategy (e.g. advertising, sales promotions, direct marketing) and provide appropriate justifications for your recommendation.
- Discuss the international logistics and distribution strategy (e.g. distribution system, channel and relationships, integrated, independent logistics, transportation, warehousing) and provide appropriate justifications for your recommendation.
Conclusions - this section should essentially summarise the main points and findings in the entire report, including the recommendations.
List of references - this section should include all reference materials used in the report. Harvard AGPS referencing style should be used in the report.
Attachment:- Assignment Files.rar