1. Choose a company based in the U.S. that may expand to the international market in the future(Any country except China, target company can not be Costco).
2. Please email me the target company and country as soon as you decided to write about it since I need to get the professor’s approval. (Email Address: email@example.com)
3. Please use simple words to write.
4.Specific requirements are as followed
International Marketing Plan
Assume that you are a professional marketing consultant specializing in international marketing. You are invited as consultants to work for a company that wants to market goods or service in a foreign country. Thus, your job is to make marketing recommendations (a sound marketing strategy) to the firms CEO. To this end, you will need to obtain basic business information about the company, country, investigate marketing environment of the country, and do research about competitors and consumers. Based on all obtained information, you will make recommendations for marketing mix.
Depending on the number of students enrolled, about five students will form a group early in the quarter. Each team will choose a specific country, choose a company and a product that is not currently available in that country, research about the culture, economy, the industry including competitors, and consumers, and write a written report. In the report, you should write a recommendation letter to the CEO as to how to market your product/service in the country. To support your recommendation, you should supply appropriate analyses (cultural, economic, and industry).
Both in-class presentation (40%) and project report (60%; no more than 20 single-spaced pages of main body plus reference and appendix) is required for the full credit according to the schedule. The main body is composed of a letter to CEO and analyses (max: 20 pages) excluding references and appendix. The letter should follow the format of a general letter and the analyses should be a narrative with appropriate subtitles. Do not have bullet point lists. Appendix can be bullet-points. For the detailed format and grading criteria, please refer to grading guideline.
Each team is required to submit portions of the components of written report by due dates posted on the class schedule. Failure to submit them by due dates will result in a deduction of up to 20% of maximum attainable written report score. In case you divided work among group members, please indicate who was the main author for that portion of the group project. Groups grade will be based on the final written report and presentation. Group members grades will be based on peer evaluation. Please refer to grading guideline.
The instructor acknowledges the challenge of a group project. Thus, after the project is finished, each member will evaluate team members and this group member evaluation will be used to assign group project score to each member. The evaluation should be done independently in the absence of any other group members and it should be turned in a sealed envelope with the word confidential across the seal. This policy is to ensure not only equal and fair contribution of team members, but it is also to maximize equitable learning experience for all members. There is penalty (group average on evaluation) or bonus (up to 10% of groups score) to a group member who contributes to the groups success either negatively or positively, respectively.
2. Directions for Group Project Written Report Content
Title of Your Project (1 page)
Product to Export/market:
A. LETTER OF RECOMMENDATION (max: 4 pages)
This should be a narrative and fit the general letter format, and include the following topics in it. Consider each major bullet as a paragraph in the letter.
Mode of Entry
Target market share and size (sales volume)
Target profit (ROI % / Dollar amount)
Target Market & Positioning
Target market characteristics/profiles
Positioning statement and perceptual map (must attach perceptual map and use this in presentation)
Core component, packaging components, support services components
Country of Origin effect
Pricing strategy (full-cost, variable-cost, skimming, penetration, countertrade)
Cost components: Cost of shipments, freight insurance, taxes, tariffs, administrative costs, retail markup)
Profit consideration: Companys gross margin,
Competitors price, affordability of your target segments, brand image.
Port of entry, Mode of transportation, Packing (e.g., marking and labeling regulations, containerization), Documents required (e.g., bill of lading), Insurance, Freight forwarder
Distributive institutions (Retailer, wholesaler, export agents, warehousing)
Terms of sale (e.g., FOB, CIF, C&F, FAS)
Methods of payment (e.g., Cash in advance, Open accounts, Sight draft, time draft, date draft, Letters of credit)
Integrated Marketing Communications
Others (e.g., Public relations, event sponsorship)
Seven models of advertising
Advertising Appeals in the host culture
B. ANALYSES (max: 15 pages)
Provide all the analytical details here within the maximum page limit. Excluded here are any figures or tables, which should be attached as an appendix at the end. However, you must explain or make reference to the figures or tables in the analysis, so the CEO can look further the details in the appendix if he or she prefers. You should provide major heading, subheading, and sub-sub heading. It will be explained in class.
Client Company Analysis (3 pages)
Mission Statement and Objectives of the Client Company
Current Marketing Plan
Current Target Market
Current Positioning (use perceptual map)
Current Marketing Mix
Cultural Analysis (4 pages)
A short, one paragraph
Family: nuclear, extended, parental roles, marriage and courtship, female/male roles
Education: primary, secondary, higher, literacy rate
Political system: structure, parties, stability, tax rates, local government
Legal system: judiciary, code or common, intellectual property
Social organizations: groups, social classes, clubs, races, ethnicity, subcultures
Business customs and practices
Religion and Aesthetics
Religion: doctrine and structures, degree to which accepted by people, prominent religions, membership, powerful/influential cults
Aesthetics: visual arts, music, drama, ballet, performing arts, folklore and symbols
Diet and nutrition: meat vs. vegetables, typical meals, malnutrition rates, foods available
Housing: types available, own or rent, one-family dwellings or live with other families
Clothing: national dress, work clothing
Recreation, sports, & leisure: types available and in demand, % of income spent on
Social security (pension)
Spoken vs. written
Cultural value position (five dimensions): value score as well as what the score means. One paragraph is enough.
Economic Analysis (4 pages)
Total, growth rate, live births, birthrate
Distribution of Population: age, gender, geographical areas, immigration rates and patterns, ethnic groups
Economic Statistics and Activity
GDP: total, rate of growth
Personal Income Per Capita
Average Family Income
Distribution of Wealth: income classes, population per class, distribution distortions
Transportation and Communication
Surface Transport: modes, availability, usage rates, ports
Communication Systems: types, availability, usage rates
Minerals and Resources
Principal Industries: % of GDP, ratio of private to public
International Trade Statistics: exports/imports dollars/trends, balance of payments/trends, exchange rates/single or multiple/current rate/trends
Trade Restrictions: embargoes, quotas, import taxes, tariffs, licensing, custom duties
Foreign Investment: opportunities, for which industries
Noncash Income Activities: countertrades/products and types of trades, foreign aid received
Labor Force: size, unemployment rates
Working Conditions: employer/employee relations, employee participation, salaries/benefits
Science and Technology
Percentage of GDP invested in R & D
Technological skill level of labor force and general population
Channels of Distribution
Retailers: number, size, markups, cash vs. credit operation, large vs. small, chain stores
Wholesalers: number, size, markups, cash vs. credit
Penetration of urban and rural markets
Costs (ad rates): TV, radio, print, other
Coverage (percent of population reached) of various media
Reach (circulation or audience size) of each medium and media category
Market Audit and Competitive Analysis (3 pages)
Consumer buying habit
Noticeable competitors and their market position (4-5 competitors in that local market)
Market size (total industry sales amount)
Problems and Opportunities
Entry Decision (go / no-go)
C. REFERENCE (about 2-3 pages)
List all the sources of information you referred using APA style or Chicago Manual of Style. Make sure you provide appropriate citation within the main text. Here is the example.
Hofstede, Geert H. (2001), Cultures Consequences: Comparing Values, Behaviors, Institutions, and Organizations across Nations, Thousand Oaks, CA: Sage.
Burnkrant, Robert E. and Alain Cousineau (1975), Informational and Normative Social Influence on Buyer Behavior, Journal of Consumer Behavior, 2 (December), 206-215.
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