Overview: In a group of 4-5 students, you will work together in creating your International Marketing Plan that will be due in Week 12 of the semester. Ensure each group member understands and accepts their role and responsibilities for this project and agrees to specific dates for meetings and submission. Also, you will choose a team leader, this person will be the key point of contact with the Professor. A cohesive team that is well prepared, is a critical component to a successful marketing pitch. This is a good opportunity to apply your interpersonal communication skills as part of the course learning objectives.
All communication with me about this project MUST copy all team members.
Group formation will be completed in Week 7. – a Canadian company, their product(s), and the target country that your company with be exporting its product(s) to.
Your group will take on the role of an internal international marketing team whose job to assess the target country, determine the opportunity, and develop a detailed marketing plan.
Written report 20% due Week 12
The following is an outline or guide for your Written Marketing Report: It must be written in the voice of the International Marketing team of your company presenting their and analysis and recommendation to the company’s CEO and CMO.
- Country Analysis – A brief discussion of the country’s relevant history, population, demographics, working conditions, exchange rates, major industries. Plus, an analysis of the topics below and their impact on your export and marketing plans.
When you write a fact or comment on a practice – think – why does this matter to your company, product, and plans?
Trade and Economic Situation
Political System (structure, current stability of the government)
Legal/Regulatory System (what challenges do the systems present)
Social and Cultural Forces (race, religion, ethnicity, subcultures, business customs)
- Market Analysis
Target Market Development – segments, product need, product awareness Consumer buying habits – shopping habits, product-use. Consider your distributor targets as well. How does the country or region’s culture impact the target market
Region – Describe the market(s) in which the product is to be sold, Region(s), Forms of transportation and communication available in that (those) region(s),
Advertising and Promotion – What are the IMC tools that you would recommend reaching your target market Pricing strategy
- Competitor Analysis -Compare and contrast your product and the competition’s product.
Brand name, Features, Package, etc. Competitor’s prices, promotion, and advertising methods
- Detailed Marketing Plan (IMC)
Marketing Objective – forecast market share and sales volume
Marketing Strategy – clear and specific identification and description of the target market
Marketing Mix – Product, Promotion, Price, and Distribution.
- Summary and conclusion
