Assignment three: Country Selection and Marketing Mix Strategies 50 points in total
The aim of the task is to pick a market that matches your product as you go worldwide with it, and determine what advertising methods to observe.
Step #1. Product Selection. Choose a U.S. product that you simply wish to promote internationally. It may be a product out of your place of job, or any product that you’re educated or about. You’ll promote this product in a overseas market (one other nation).
Step #2. Country Selection (10 points). Choose a market (a rustic) based mostly in your market screening. Following the steps for market screenings for a rustic that you simply examine in chapter 12, clarify what elements could be essential in your market (nation) screening. Undergo every of the primary 4 steps in the screening course of and describe what sort of standards could be fascinating in your product in phrases of: Primary wants potential, Monetary and financial forces, political and authorized forces, and cultural forces.
Step #three. Choose a mode of entry (10 points). Evaluate the benefits and challenges of the completely different modes of entry and choose probably the most applicable in your sort of product and nation you chose. Clarify why you might be selecting that mode of entry over others.
Step #four. Marketing Strategies. Primarily based on the knowledge above, and your information of the product, clarify how you’d modify the product in order that it matches higher in the brand new market. You need to give attention to the next advertising methods:
A. PRODUCT (10 points) – How or what would you modify in regards to the product to higher match this new market? Clarify your reply.
B. PROMOTION (10 points) – I. Would you employ the identical message to advertise your product or would you modify
it? What could be the brand new message intention or theme? Clarify. II. What type of promotion would work greatest for the kind of product and new market
circumstances? Choose solely one of many following and clarify why you might be choosing it: promoting, private promoting, gross sales promotion (reductions, coupons…), or public relations. (trace: assessment the benefits and disadvantages of every sort of promotion and see which one matches your product greatest)
C. PRICE (5 points) – what could be the very best pricing technique to observe and why?
D. PLACE (Distribution) (5 points) – can you employ an analogous method to getting the product to your buyer as it’s used in the united statesA. or do you wish to modify the distribution of the product. Perform a little research of the brand new nation’s infrastructure and availability of channels of distribution? Clarify your choice/reply.
Grading Rubric: See the purpose distribution for every Question Assignment for a total of 50 points. The standard of your reply will likely be awarded points in accordance with the dimensions in this rubric.
For questions value 10 pts:
For questions value 5 pts:
Good:
10
5
Honest:
eight
three
Poor:
5
2
Unacceptable
zero
zero
Country Selection (10 pts)
Mode of entry (10 pts)
Product technique (10 pts)
Promotion technique (10 pts)
Worth technique (5 pts)
Place technique (5 pts)
TOTAL POINTS EARNED:
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Assignment three: Marketing Mix Strategies and Country Selection Total: 50 points
The aim of the task is to pick a market that matches your product as you go worldwide with it, and determine what advertising methods to observe.
Step #1. Product Selection. Choose a U.S. product that you simply wish to promote internationally. It may be a product out of your place of job, or any product that you’re educated or about. You’ll promote this product in a overseas market (one other nation).
Step #2. Country Selection (10 points). Choose a market (a rustic) based mostly in your market screening. Following the steps for market screenings for a rustic that you simply examine in chapter 12, clarify what elements could be essential in your market
