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Assignment 3: Entry Plan into International Market
Due
Week 10 and worth 300 points
This assignment
will provide you with firsthand experience in developing a strategic marketing
plan for entering a new international market. Choose a global company that you
are familiar with for this paper. Note:
Do not use a company from a previous assignments or discussions.
Use the Internet
or Strayer Library to research the following components of the global company
that you have chosen:
-
Company
Profile (History & Analysis)
-
Product(s)
-
Financial
Status
-
Market
Position
-
Analysis
of current global operating environments
-
Integrated
marketing communication (IMC) Strategy
-
Strengths
and Weaknesses Analysis
-
Sustainable
Competitive Advantage(s) enjoyed by the firm
-
Sources
of funds for the project
-
Pro-Forma
Balance Sheet & Income Statement for five (5) years
-
Cash-Flow
Statement
Note: You may also use
the following resource for your research:
§ Financial
profiles for global companies:
Write
an eight to ten (8-10) page paper in which you:
- Choose a country into which the
company you selected may expand. Note:
Ensure that the country you chose is currently not doing business with the
selected company in any capacity (e.g., exporting, FDI, or contract
manufacturing).
- Develop a brief profile of the
country that you have chosen. The summary should include:
a.
Geographic
and historical data regarding international business
b.
Political
and legal environment for conducting international business
c.
Business
customs and practices
d.
Economic
environment
e.
Socio-economic
analysis which should include the factors of concern (e.g., population
characteristics, language, GDP, taxation, personal income, labor, industries,
communication networks, imports / exports, and major trading partners’
countries).
Note: Refer the
following resource to complete this criterion of the assignment:
§ A Basic Guide to
Exporting Contents
(http://export.gov/basicguide/eg_main_017244.asphttp://news.morningstar.com/stockReturns/CapWtdIndustryReturns.html)
- Ascertain
the possibility and feasibility of financial, distribution, and marketing
partnerships for the company within the chosen country. Your research
should include:
a.
Market
structure and analysis (e.g., channels- direct or indirect)
b.
Currency
considerations
c.
e-Commerce
d.
Impact
of regional and global trade integration
e.
Potential
volume of trade
f.
The
marketing mix components
g.
Key
cultural dimensions affecting marketing operations
- Analyze the
key reasons why the entering the market in the country that you have
chosen is justified. Include your research and analysis from Criteria 1
and 2 of this assignment to support the response.
- Determine
at least three (3) potential risks of foreign market expansion into the country
that you have chosen (e.g., language barriers, regulatory, taxation,
expropriation, etc.). Suggest one (1) strategy to mitigate each risk that
you have determined using weighted metrics with a baseline number(s).
- Determine
at least three (3) potential benefits of foreign market expansion into the
country that you have chosen. Suggest one (1) strategy to maximize each
benefit that you have determined.
- Suggest at
least two (2) ways in which you would adapt the operational strategies of
your chosen company both to fit the changing dynamics of foreign markets
and to foster a competitive advantage for the company.
- Use at
least six (6) academic resources in this assignment. Note: Wikipedia and other similar Websites do not qualify as
academic resources.
Your
assignment must follow these formatting requirements:
- Be typed,
double spaced, using Times New Roman font (size 12), with one-inch margins
on all sides; citations and references must follow APA or school-specific
format. Check with your professor for any additional instructions.
- Include a
cover page containing the title of the assignment, the student’s name, the
professor’s name, the course title, and the date. The cover page and the
reference page are not included in the required assignment page length.
The
specific course learning outcomes associated with this assignment are:
·
Formulate,
implement, and evaluate effective marketing strategies based on an analysis of
global operating environments, market dynamics, and internal capabilities.
·
Analyze
the major economic, cultural, and political / legal aspects of the
international business environment, including the economic dynamics of foreign
trade, impact of regional and global trade integration, and key cultural
dimensions affecting marketing operations.
·
Assess
the potential risks and benefits of various international markets and formulate
effective market entry strategies to support foreign market expansion.
·
Integrate
global information systems in the use of market research.
·
Integrate
the concepts of market segmentation, product development, and pricing policies
into viable marketing strategy to fit a variety of international market
environments.
·
Construct
product distribution channels and logistics to meet marketing objectives and
fit a variety of global market environments.
·
Analyze
an integrated marketing communication (IMC) strategy to support global
marketing operations.
·
Integrate
global e-Commerce into the marketing strategy.
·
Evaluate
and adapt corporate marketing strategies to fit the changing dynamics of
foreign markets and foster a competitive advantage.
·
Use
technology and information resources to research issues in international
marketing.
·
Write
clearly and concisely about international marketing using proper writing
mechanics.
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