Developing an international marketing plan Essay

Working in teams of 4 – 5 students you will analyze a country’s cultural and economic environment in order to develop a marketing program for a specific product or service. The purpose of this assignment is to facilitate cross-cultural understanding and evaluate a country’s market potential. You should work as if you represent a company planning to expand operations to several new countries. Your job is to analyze and tentatively propose a marketing program for the company’s product in one of the countries. The project includes a paper (15 pages plus as many appendixes, tables, etc. as needed) and a presentation (each group will have 15 minutes to present their work to the class). Please see The Country Notebook (p. 586) in International Marketing by Cateora and Graham. Project Components 1) Identify country 2) Identify product and develop product fact sheet 3) Economic analysis 4) Cultural analysis 5) Market audit and competitive analysis 6) Marketing plan 1) Selecting a Country Please choose a country that you have some interest in and would like to develop in-depth knowledge. There are only three restrictions in the selection of a country: 1) you must study a country other than your own, 2) two groups cannot select the same country, and 3) you cannot study the United States. You can select countries ranging from the most economically developed to most recent developing nations. You must have a country selected by week 3. 2) Selecting a Product The focus of this project is exclusively consumer products. You may choose any consumer product. You must also produce a 1 page product fact sheet identifying the product and product features (e.g., brand name, description, usage, purpose, benefits, unit size, cost, contents or other relevant features). The product fact sheet is due in week 4. Also include your product fact sheet as an appendix in your final project. 3) Economic Analysis Entire books have been written on the topics in this section, however I want you to demonstrate an understanding of the economic information and highlight points of particular significance from a marketing planning perspective. Potential categories of information include population, economic statistics and activity, developments in science and technology, distribution systems, and media. Adapt and modify these categories as necessary. In addition, provide a 1-page summary of the major economic points. The 1-page summary is due in week 6. Also place the summary in the appendix of your final project. 4) Cultural Analysis You will need to report cultural facts that you have identified and analyze these facts in terms of likely marketing implications. Relevant cultural information includes geographical setting, social institutions (family, education, political, legal, etc.), religion, living conditions, and language. In addition to reporting facts, it is important to interpret this information. You must answer the question â€Å"What does this cultural information have to do with marketing?† You will also have to complete a 2-page essay on â€Å"what it is like to be a citizen of† the country that you choose to study. The â€Å"what it is like†¦Ã¢â‚¬  essay is due in week 6. Also include your essay as an appendix in your final project. 5) Market audit and competitive analysis This section is used to determine competitive market conditions and market potential. This information is then used to determine the extent of adaptation of the company’s marketing mix. Consider the product and the market (e.g., consider the conditions where the product will be sold, competitors, government involvement, market size, etc.). 6) Marketing plan The information that you have developed should serve as a basis for your marketing plan. You need to identify the most effective means of marketing your product or service in the country identified. Categories include objectives, product, promotion, distribution, and price. Please indicate if you think that this is a profitable market opportunity for your product or service. Be sure to include your recommendations. You have the option of recommending to market or not to market the product in the country. Make sure your decision is supported with adequate information. FORMAT ISSUES †¢ Be concise. The final product should be no more than 15 pages in length (not including appendices and references). The paper should be easily read and understood. o It should be written in concise business-style English o Use bullet-point statements with short explanatory paragraphs when appropriate. o Include charts and figures to describe numerical data. o Include pictures if appropriate. †¢ Form matters. The look of this document is important. It should look as if it has been professionally prepared. Use double-spacing with 12-point font. All tables, figures and appendices should be individually labeled and titled (e.g., Table 1: Descriptive Statistics of †¦; Appendix A: Graphical Representation of †¦). †¢ Writing matters. I expect you to write clearly, using language that conveys what you mean. All members of the group should carefully inspect the document for grammatical and spelling errors. o You do not get credit for correct grammar, punctuation and spelling. However, you WILL MOST CERTAINLY lose points if there are problems in this area. OTHER STUFF †¢ Each group should submit three exam questions (and answers) to the instructor prior to the presentation. One of these questions may be placed on the exam. †¢ History suggests that not every member of a group will actively participate in the project. In order to overcome this tendency, I will ask each group member to complete a peer evaluation for this project. This evaluation is intended to force you to confront (as a group) at the start what expectations each of you has for the others in your group relative to this project. †¢ Each group is required to meet with the instructor during the term to make sure that the group is on the right track with the project. Be prepared to discuss what you will be doing, how you will be doing it, and how you will present this information in class. †¢ Rather than splitting the project up among group members and then putting it together at the end, I strongly urge you to approach it as a total entity. This will help with the flow of the writing and understanding of how each element relates to the others. o Your grade will be reduced if it appears that you slapped together four different parts written by four different people. †¢ Cite all of your sources. PRESENTATION GUIDELINES †¢ Each group is required to make a presentation to the class. †¢ Each group member must present, but the amount of time does not have to be shared equally across all members. †¢ Practice, practice, practice! It is the only way to make sure that the timing is right and the only way to ensure that the transitions between speakers are smooth. †¢ It is important to engage the audience. Make the presentation fun and interesting. Ask questions, show enthusiasm, and include visual aids and props when appropriate. †¢ Make an effort to face the class when you’re speaking. People often have a tendency to talk to the screen. Also, do not stand in front of the screen. Remember, you want your audience to see it. †¢ Speak clearly and deliberately. Students often rush through the presentation. Remember, even though you are really familiar with the content, others are not. †¢ Presentation slides should include enough information to communicate the key points to the class. †¢ Attendance is mandatory for ALL students, whether presenting or not. It is the responsibility of the audience to listen attentively and to engage the speakers where appropriate.