The student will write a 8 page paper using the following outline. The student should choose a product, service, or business to market in a country other than the United States or Canada.
I. Title Page
II. Company’s mission statementand a short profileof the company.
III. Country selected
a. Brief discussion of country’s relevant historical developments
b. The National Business Environment
i. People – language(s), culture, religion, work ethic, population, population growth rate, age structure, ethnic makeup, education attainment and literacy, urban/rural composition, family structure, differences between roles of men and women, education levels, etc.
ii. Government – type, head of state, government bureaucracy, political stability, economic freedom, legal system / regulations, openness to FDI, currency, fiscal and monetary policies, financial stability, social security, healthcare, etc.
iii. Geography – type of surface areas, major bodies of water, major cities, climate, etc.
c. Market and Size Potential
i. Economy – GDP, GDP per capita (PPP), poverty, size of labor force, inflation rate, currency exchange rates, unemployment rate, major imports/exports, distribution of wealth, principal industries, ratio of private to public industrial ownership, trade restrictions,
ii. Infrastructure – roads/highways, airports, railways, ports, housing available, channels of distribution, etc.
iii. Media & Technology – radio, TV, computer, mobile phone, land-line phone ownership; internet users; types of media available (TV, cable, radio, newspapers, magazines, outdoor, etc.)
d. Competitive Environment
i. Focus on the firm’s three major, direct competitors in the country. Discuss how your firm would be positioned relative to its competitors and if there are any competition concerns.
IV. Entry Mode Selection
a. Focus on the strengths and weaknesses of each entry mode and how that relates to the various features of the country you have chosen.
V. Target Market – begin the market analysis with a description of the target market for the firm within the new country. If this market differs greatly from the firm’s existing market, explain how the firm will change its marketing strategy to meet the needs of this new market.
i. Focus on the target market’s needs and benefits of the firm’s products that meet these needs.
VI. Any critical external environment issues not covered in the country selection discussion
VII. Marketing Objectives
a. Examples of “vague” marketing objectives (what NOT to do):
i. Satisfy customers
ii. Be located in the right place
iii. Make sure production meets demand
b. Examples of “actionable” marketing objectives (what TO DO):
i. Earn a 10% ROI by the second year of operations
ii. Increase market share from 16% to 18% by the end of fiscal year 2009
iii. Improve the firm’s reputation within the company by increasing local charity spending by 50% over the next three years.
X. Marketing Strategies to reach Marketing Objectives
a. Product strategies
i. How innovative is the product?
ii. Product adaptations.
iii. Compare it to competitors’ products.
b. Pricing strategies
i. Customary markups.
ii. Types of discounts available.
iii. Compare to competitors’ prices.
c. Promotion strategies
i. Media used to reach the target market.
ii. Sales promotion used.
iii. Value of personal selling.
iv. Compare it to competitors’ promotion.
d. Distribution strategies
i. Port selection.
ii. Mode of transportation selection.
iv. Documentation needed.
v. Typical retail outlets.
vi. Product sales by middlemen.
vii. Compare it to competitors’ distribution.
XI. Final Recommendations