ASSESSMENT TASK 2: DESCRIPTION
Aim: The aim of this assessment is to critically evaluate the factors influencing the international marketing entry process, propose an entry mode strategy, and devise an international marketing mix strategy to meet the needs of consumers in a new export/foreign market.
Instructions:
Assume the role of an international marketing manager for an organisation (that has its headquarters in your home/domestic market). Your task is to:
- Select a new market (i.e., country, region, or city) that you wish to enter.
- The choice of a particular organisation and overseas market is completely up to you. If you start with an industry containing public companies or Fortune 500 firms, or companies that have a very high profile at this point in time, then, there will be a good deal of information available to you.
- However, do not discount small firms.
- In your selection, consider the competitive advantages enjoyed by regional economies and successful firms in important industry sectors in the tropics, such as high technology, food, wine, tourism, education, and other services.
- The overseas market does not have to be completely new to the organisation, i.e., the organisation you pick may have a presence in the country you wish to explore in your academic assignment. You are still free to select it, and if it is a large market, then you may be able to target a different region, province, or even city.
- Prepare a report. Use credible, peer-reviewed sources of information (textbooks, academic journal articles, newspapers, marketing reports, data from Government bodies), with a minimum of five (5) references. The data you collect will help you develop an international marketing plan for the introduction of the organisation’s products/services into the overseas marke
Ensure the report is structured using the headings (and content) described below:
The project consists of two (2) main sections, along with the executive summary.
PART A – Audit and critical analysis of ONE (1) element in the International Marketing Environment
Key dimensions are political-legal; cultural; economic-financial. The implications of your research for your chosen organisation must be carefully analysed.
- Select one (1) element of the environment only, i.e., a cultural analysis.
PART B – International Marketing Plan
- Organisational profile, its products/services
- Target market
- Competitor analysis (select 1 key competitor)
- Market entry mode (i.e., exporting, strategic alliances, etc.), taking into consideration specific tv
- International marketing objectives, international marketing mix (4 P’s or 7P’s), and degree of adaptation, or standardisation, of marketing mix required to meet customer needs and objectives for that particular marketplace.
The International Marketing Plan reflects, in your judgment, the most effective means of marketing your product/brand in the chosen market. The executive summary should represent a clear and comprehensive synopsis of the plan that captures the attention of the reader.