In this Session Long Project, you would develop an international marketing plan for a business of your choice. You could identify an existing business and expand this business to one foreign country, or you may identify a domestic business without foreign presence. If you want to focus on a multinational corporation, you should identify a foreign country that the company has not entered. There are four parts of this Session Long Project and check the outline for international marketing plan here for the details.
First part (SLP1): Identify the business and conduct market audit and competitive analysis;
For SLP1, you start the project with the following information:
Section I: Company Background and Product Statement
Identify the business for your project and provide background on the company
Identify a product or brand from this company and provide information on this product/brand such as consumer awareness of the product/brand, the product/brand image, the stage of product/brand in terms of product life cycle (introduction stage or growth stage or other stage?), any problems or issues related to the product/brand, so on.
Section II: Market Audit and Competitive Analysis
Give detailed analysis of the market for this product/brand based on the following guideline.
A. Describe the target market(s) in which the product is to be sold such as demographic information of the target market(s), the geographic region(s), the consumer buying behavior in each region, product distribution channels (the specific retail stores or intermediaries or online), advertising media used to reach the target market(s), sales promotions used (sampling, coupons, online offers, etc.) and the pricing strategy for this product/brand (price ranges in each region, markups, discounts, etc.)
B. Conduct competitive analysis: identify two or three major competitors and state the specifics of the competing products/brands from each competitor including the brand name(s), the key features of the product(s), the packages, the logos and trademarks; the distribution channels for each competing product/brand; the advertising and sales promotions used for each competing product/brand; the prices for the competing products/brands including the markups and discounts used by competitors; relative competitive advantages or disadvantages of your product/brand relative to each competing product/brand.
C. Evaluate market size including estimated industry sales for the planning year and estimated sales for your company for the planning year
D. Identify regulations you must follow and the government agencies that may help you.
Sources: (not all are required)
Anon, (2009 March 26). Globalisation and trade – The nuts and bolts come apart. The Economist. Retrieved from https://www.economist.com/node/13362027?story_id=13362027
Cherunilam, F. (2010). Chapter 1: International marketing: An introduction. International Marketing: Text and Cases. Mumbai, IND: Himalaya Publishing House. ProQuest ebrary.
Cherunilam, F. (2010). Chapter 2: International marketing environment. International Marketing: Text and Cases. Mumbai, IND: Himalaya Publishing House. ProQuest ebrary.
Czinkota, M. R., & Samli, A. C. (2010). The people dimension in modern international marketing: Neglected but crucial. Thunderbird International Business Review, 52 (5), 391-401.
Jean-Emile, D. (2003). Making international marketing decisions under WTO rules. Thunderbird International Business Review, 45(2), 185-210.
Makhlouf, H. H. (2014). Facets of globalization. International Journal of Business and Social Science, 5(1).
Novicevic, M. M., Morf, D., Evans, M., Sanders, L., Sun, W., & Cecil, C. (2012). Adapting competencies for emerging markets: The case of IKEA’s entry into china. Journal of Applied Management and Entrepreneurship, 17(2), 4-22.
Risko, T., & Wiwczaroski, T. (2014). From domestic marketing through international marketing to intercultural marketing.Economic Affairs, 59(3), 439-447.
And then the web site of the company we choose to use in the project
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