Module Title: International Marketing Programme: BSc (Honours) Level: Level 6 Format: International Marketing report This summative assessment represents 50% of the total marks for the module Presentation: None Any special requirements: The briefing paper should be submitted on the Student Portal along with a Turnitin Report Word Count 2,500 (excludes appendices) +/-10% allowance Learning Outcomes: 1. Identify the principal managerial issues and policies necessary for success in international marketing. 2. Examine and evaluate methods of identifying and qualifying market potential in different parts of the world. 3. Illustrate the nature of overseas distribution systems (including agents and joint- ventures) and demonstrate the marketing implications of differences in culture in consumer behaviour. Assessment criteria Pitch Explanatory comments on the assessment criteria Maximum marks for each section Knowledge and Understanding • Clearly understands the assignment question and content related to learning outcomes. • Evidences Knowledge and understanding of the main concepts and key theories/ principles of Consumer behaviour • Undertakes Current research and applies main theoretical concepts, key theories and principal methods of qualifying a potential international market, critical success factors for international market and international marketing programme. 35 % Cognitive/ Intellectual Skills (e.g. analysis and synthesis; logic and argument; analytical reflection; organisation and communication of ideas and evidence) • Analyses and identifies a target international market. • Critically analyses and synthesises key principles, concepts, theories, and frameworks of success at international market and marketing and as well as their application to the given context. • Recommends and justifies suitable market entry strategy to gain overseas distribution into selected market and an appropriate marketing mix in line with differences in socio-culture. • Has researched beyond the key reading appropriate for the subject • Thoroughly logical work, supported by judiciously selected and evaluated evidences. • Investigates contradictory information and identify reasons for contradictions. Thus producing highly persuasive conclusions. 40% Graduate Skills for Life and Employment (e.g. research- related skills; written, graphical and oral communication skills; group working; problem-solving; practical and professional skills) • Demonstrates ability to evaluate a range of research informed literature, • Uses appropriate academic conventions (e.g. referencing, summaries, paraphrasing etc.) • Research-related skills (evidenced by collection and interpretation of data to support findings) • Written and graphical skills evidence ability to communicate professionally and confidently in a range of formats, at a high standard appropriate for graduate-level employment. • Problem-solving (is the strategy and recommendation based on the analysis). Thus evidencing ability in identifying solving a range of complex problems with divergent solution. • Has reflective ability to evaluate own strengths and weaknesses, showing attributes for graduate-level employment. • Practical and professional skills (work has right level of detail/ complexity) 25% Total 100 Assessment Task All learning outcomes will be assessed. This summative assessment represents 50% of total module marks. Background Michael Kors (MK) looks east Michael Kors (MK) is a well-known designer of luxury men’s and women’s ready-to-wear, accessories bags, footwear, watches, jewellery, eyewear and fragrance products internationally (Michael Kors, 2016). Michael Kors operates in all stages of value chain; design, marketing, distribution, and retail of branded goods. The American company has become a global luxury brand, with a global presence and stores in most prestigious cities in the world in around 35 years (Business Wire, 2013). MK first targeted women swear in 1981 and entered menswear market in 2002 and in 2014 company entered billion of brands like Wertheimers (Chanel perfumes), Giorgio Armani, Ralph Lauren, Dolce & Gabbana, Valentino and Miuccia Prada (Craik, 2016). The MK’s main target are customers are 25 to 54 years old, with annual income above £30,000, in particular target status and personal ego conscious younger, affluent consumers, those are often overlooked by luxury brands. For its target consumers, MK brand stands for, higher end, quality, design, and craftsmanship (M. Turner, 2015). The designs are aesthetic as “pragmatic indulgence” luxurious, but classic and flattering. The company develops cultural trends and is seen as a master of the shift dress, the skirt suit and the modern coat. Also MK very quickly adapts and always ahead of its competitors, whereas some higher-end labels have size 14 and 16, but they’re more like a 10 or 12. The company launched smaller wallets, for their new smaller bags. The company understands that the consumers want luxury, new style and budget- friendly price tags. Mk’s success lies in its refusal to be snobbish but rather inclusive. As our licensed partner in this region to build the infrastructure, establish the brand and grow acceptance of Michael Kors in the Chinese market. We believe that we are on a strong trajectory with a rapidly growing following among Chinese, Japanese, Korean and Southeast Asian consumers,” (Forte, 2016). However, in China is a market of opportunity and risk; related to higher taxes on lavish gifts and a growing preference of Chinese to purchase luxury goods abroad. As a result Michael Kors is now trying to look beyond China for their international growth. Post China, Japan and South Korea, the company is considering Taiwan and Hong Kong, India, Singapore, Malaysia, Thailand and Indonesia, in Asia, some Arab countries and eastern European countries in EU. India, Asia’s third-largest economy has its own risks like entry barriers, high tariffs and counterfeit market (Kurt Salmon, 2016). Expansion into international markets is crucial for Michael Kors. However, the questions are how and where? Consultancy brief Hired as a marketing consultant, you have been asked by Michael Kors to carry out a thorough analysis of the market and recommend one international growth market for it to enter in 2018. The primary focus the recommended markets is choice of target market, entry mode and fitting international marketing mix. You should prepare a report for the board of directors addressing your consultancy brief, this should include:
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