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MKT505 Assignment 3 Entry Plan into International Market

Assignment 3: Entry Plan into
International Market
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:
·
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Company Profile (History & Analysis)
·
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Product(s)
·
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Financial Status
·
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Market Position
·
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Analysis of current global operating environments
·
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Integrated marketing communication (IMC) Strategy
·
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Strengths and Weaknesses Analysis
·
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Sustainable Competitive Advantage(s) enjoyed by the firm
·
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Sources of funds for the project
·
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Pro-Forma Balance Sheet & Income Statement for five (5) years
·
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Cash-Flow Statement
Note:
You may also
use the following resource for your research:§Financial profiles for global
companies:
(http://news.morningstar.com/stockReturns/CapWtdIndustryReturns.html)
Write an eight to ten (8-10) page paper in which you:
1. 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).
2. Develop a brief profile of
the country that you have chosen. The summary should include:
1. Geographic and historical
data regarding international business
2. Political and legal
environment for conducting international business
3. Business customs and
practices
4. Economic environment
5. 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.asp)
§Business week’s Magazine
covering Global Marketing
http://bx.businessweek.com/global-marketing/
3. Ascertain the possibility
and feasibility of financial, distribution, and marketing partnerships for the
company within the chosen country. Your research should include:
1. Market structure and
analysis (e.g., channels- direct or indirect)
2.Currency considerations
3. e-Commerce
4. Impact of regional and
global trade integration
5. Potential volume of trade
6. The marketing mix
components
7. Key cultural dimensions
affecting marketing operations
4. 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.
5. 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).
6. 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.
7. 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.
8. 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.
·
·Write a word essay - 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.