Final Project: Market Entry Project
You will conduct a research on a product category FROM YOUR COUNTRY (Canada) to launch the selected product (Herbalife Nutrition Formula 1 Meal Replacement Shake).
As a result of your findings and analysis you will deliver the following:
• Top 3 countries (our main country is Canada and two other countries are the U.S. and Australia) that have biggest opportunity with rationale. Please keep in mind that you should mainly write about Canada, but also discuss expanding into two other countries for each section.
• Define a specific market opportunity (why should Herbalife expand to the US and Australia besides Canada; how will we adopt the product?) and rationale.
For this final project, my team should present a plan to launch the selected product which is (Herbalife Nutrition Formula 1 Meal Replacement Shake) into one of the identified high opportunity countries (Canada, the U.S., Australia). The plan is to provide a recommendation to internal management requesting approval to proceed with the launch.
My team already did some research on both Canada and Herbalife, so I will attach both of the presentations and a paper). Feel free to use information from there, but also expand on it. And if it’s not there, do your own research.
Since it is a team project, you only need to do a part of the paper, please only write about the sections below:
Paper Outline:
• Pricing Strategy (your product) for all three countries and how they will differ. Also include the prices for each product in different countries. You can even look up the actual prices of Herbalife Formula 1 in each country.
• Risks factors to overcome (See Pestel, Porter 5 forces or similar)
• Global vs. local strategy with justification for approach. (pick one-global or local- or a combination based on segmentation).
• Global marketing strategy and Marketing Mix Recommendations (3 recommendations), (top-of-line). Provide an overview of a strategy, tactics and marketing mix. Based on industry/product/country, your strategy and marketing mix should be relevant to how best to reach your audience.
• Overall recommendation. (to your internal team for approval).
Format: The paper should be 4-5 pages. The paper must be single spaced. Please include title by section. Type must be no larger than 12-point on standard, 8.5” x 11” paper.
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