Marketing in an International Context Group Assignment

Project Description

o The project is a learning tool, it is a practical application of the course, and participants have to gather course
related information from secondary sources.
o Teams of three to five maximum are required for working on this project. work as a team.
o Each member in any given group will be responsible for developing and presenting a certain section in the
project.
o The project is based on developing deep understanding of a selected emerging market from secondary data
sources and presenting your findings in the project document and through vivid class presentation.
o Reading and understanding the material well is going to help you to develop effective questions and do a good
analysis for your project.

Project Rationale

The main purpose of the project is to learn how to conduct a real life International Marketing Plan. Each group is to
think of a new or an existing product (Goods or Services) that may not have exist in the market before. Your project
is a market analysis application in foreign markets. You are required to launch your initiative at least in two foreign
markets. Your project should demonstrate the concepts learned throughout the course.

Topics to be covered in the Project

 The need for planning to achieve company goals
 The importance of the self-reference criterion (SRC)
 The progression of becoming a global marketer
 The increasing importance of global awareness
 The environmental adaptation
 Framework for cross-cultural analysis
 The importance of culture to an international marketer
 The strategy of planned change and its consequences
 Approaches used by the chosen company to address the elements of culture
 The problems of availability and use of secondary data
 The important factors for each alternative market-entry strategy

Your Project

Your projects will require conducting a virtual business trip to the selected markets and walking through
all foreign market elements such as economic climate, geography and infrastructure, political and legal
situation, levels of technology, competitive landscape, and cultural consideration. Not to mention, any
domestic reflections that may facilitate or prevent international affairs with this selected foreign
markets. In other words the group need to conduct a detailed due diligence!

What is a Due Diligence?

Due diligence" is a term used for a number of concepts involving investigation of a business or a
marketplace prior to signing a contract, or an act of market entry with a certain standard of care.

Virtual Travel & Market Due Diligence

Every participant will develop a portfolio for a product/service in an emerging market of their own
choice on the issue of market entry strategy. The purpose of this project is to simulate the decisions one
Marketing in an International Context Group Assignment

might be asked to make in a multinational or global corporation. It is intended to give first-hand

experience in identifying market opportunities and developing market entry strategies. In order to
develop the complete portfolio, market analysis has to be prepared, which forms the essential
foundation for the portfolio. The group should work as if they represent an SME or a large multinational
company planning to expand operations to a new country.

Selecting a Country:

Select a foreign country in which the group has some specific interest. It should be an emerging market.
Some suggestions include: leading emerging markets such as Argentina, Brazil, Chile, China, KSA, Jordon,
Hungary, India, Ivory Coast, Mexico, Nigeria, Poland, Russia, South Africa, Turkey, Vietnam … etc.

Commercial Due Diligence:

1. Country Due Diligence

 CIA Factbook for analysis and country overview
2. Cultural Due Diligence:

http://www.clearlycultural.com/

http://www.worldbusinessculture.com/index.html

 The ten traits of the cultural due Diligence

3. Commercial Due Diligence

 Competitive forces
 Customer profiling
 Company inventory

Proposed Framework

The following is a proposed framework for the group project.

Market entry strategies

I Introduction
Describe the product and the company you work for
II Situation Analysis

Describe the environment you operate in — general information about the industry, competition
and governmental controls along with information about the firm and the market (explain macro
and micro forces in brief)

III Target Market and Positioning

Define your target consumers and the positioning of your product

Marketing in an International Context Group Assignment

IV Marketing Mix

 Product Decisions:
- Describe your product in some detail including special features, reasons to buy, etc. (use
diagrams or pictures if useful)

- Attitudes toward foreign products in the target country

- Strategic alternatives: extension, adaptation, or invention

- How many do you expect to sell (and justify it)

 Pricing Decisions:
- Your pricing objectives and strategies

- Environmental influences on your pricing decisions

- Cost of goods sold; At what price will you sell your product? (and why?)

- Total revenue expectations

 Channels of Distribution Decisions:

- Your channel objectives and constraints

- What channels of distribution will you select (with descriptions of members of the channel:
Retailers, Wholesale Middlemen, etc.)?

 Promotion Decisions:
- Who is your target audience?

- Your promotion objectives

- Types of promotion (Advertising, Sales Promotions, Personal Selling, or others), with reasons of
selection

- What will be your basic advertising message? What media will you use and why?

- Proposed promotion expenditures

V Conclusion

After analyzing and tentatively proposing a market entry strategy for the company’s product in the
foreign country, you have to answer the questions: Why have chosen the specific strategy? What
are the chances of success for your product in the targeted country? You have the option of
recommending to market or not to market the product in the country. The value of a decision not to
market the product is as important as that of a decision to market. You must justify your decision.
Marketing in an International Context Group Assignment

VI Reference List
Please provide a complete reference for all materials you consult. Information drawn from these
sources should be cited within the body of your paper.
VII Appendix or Appendices: Appendix or appendices can include related materials.

Adapting the Marketing mix:

1. What adaptations is required for your product or service and why?

2. What is the best fitting pricing approach?
 Elasticity of demand
 Competitors offerings
 Cost structures after adaptation
3. International market distribution channels & challenges
4. How can your business communicate effectively with a foreign marketplace?
 Language and linguistics
 Taboos
 Media Availability & Selection
 Roles and availability of advertising agencies

Incidentals

The reports should be typed with Heading in the font Ariel (size 14 & 12) and the text in the font
Ariel (size 10) using single spacing. The Marketing plan & Strategies are expected to be
approximately 5000 words in total (excluding appendices and supporting materials). Please provide
proper margins (suggested 1 inch) on all sides of the paper to put remarks.
Remember to number the pages and have a table of contents with page numbers. Check spelling
and grammatical errors before you turn in your portfolio. Integration is important. Meet your group
members on a regular basis. If you have any questions, problems, or suggestions, about the group or
any member, please talk with me about them as soon as possible.

Notes:

 You should produce a one page A4 handout for all the other class members summarizing your
issues/ideas, key findings and conclusions. The reverse side should include your references and
sources of information.

The Importance of your Project and Presentation

We often graduate with only a limited knowledge of our local markets, and professional work
environment, or are knowledgeable about specific industries that are very similar to their family or
friends. This exercise is designed to give you greater understanding about how other markets work
and you are strongly encouraged to attend and participate in all the presentations so that you leave
the university with a wider view of the business world, which is full of ‘interesting opportunities and
challenging problems’.