Briefly focus on the company and the host country where the company wants to expand business.You can take contents on the company and the country from your Market Entry Assessment

International Marketing for Managers  

International Marketing Plan

Additional Information

1. Executive Summary (10 marks):1 page

Executive summary is an extended abstract of the report. It could be few paragraphs summarizing the contents under key broad headings of the assignment. 

2. Introduction – Company and Country (5 marks):1 page

Briefly focus on the company and the host country where the company wants to expand business.You can take contents on the company and the country from your Market Entry Assessment, but the content must be paraphrased properly.

3. Situation Analysis – Customer Analysis and STP (10 marks):1.5 page

Discuss about the customers that your company is targeting in the host country.Apply your knowledge on segmentation bases, targeting and positioning strategies.Develop a customer profile that your company needs to work on.    

4. Situation Analysis – Competitors’ strategies (10 marks):1.5 page   

Identify the key competitors (name at least one key competitor) in the host country and analyse its strategies relating to STP (segmentation targeting and positioning strategies) and 4P strategies (product, price, place, and promotion strategies). You need to curate competitor related information from weekly discussions on STP and 4P strategies.    

5. Macro Environmental Analysis (5 marks): 1 page

Summarize the key information on economic, trade, socio-cultural, political, and legal environment of the host country from your Market Entry Assessment here. Please make sure that the contents are adequately paraphrased.

6. Advanced SWOT (2+4 = 6 marks): 1 page

List down key strengths, threats, opportunities, and threats in a matrix. Add a second matrix focusing on strengths to take advantage of the opportunities, weaknesses for which there are threats, opportunities which are hindered by internal weaknesses, and threats that can dealt with strengths.   

7. Marketing Objectives (4 marks): 0.5 page

List down few (ideally 4 objectives ranging from 3 to 5) SMART marketing objectives that the company wants to achieve in the next three years (medium term).

Briefly focus on the company and the host country where the company wants to expand business.You can take contents on the company and the country from your Market Entry Assessment

8. Marketing Mix Strategies – Product (10 marks): 1 page

Discuss product and branding strategies that the company will adopt in the host country. Apply the most relevant topics on product and branding concepts, Maslow’s need hierarchy theory, strategic alternatives under global product planning. Please note that the company’s product and branding strategy is likely to be influenced by the entry strategy that you have selected in the Market Entry Assessment. If your entry strategy is exporting, then you need to suggest relevant product and branding issues to the local importer in order to ensure consistency in the home and host country.

Discuss about the customers that your company is targeting in the host country.Apply your knowledge on segmentation bases, targeting and positioning strategies.

9. Marketing Mix Strategies – Price (10 marks): 1 page

Briefly outline the key factors that will influence the company’s pricing strategy and what specific pricing strategy the company will adopt with adequate rationale. Also, apply other pricing related issues that we covered, if relevant. Please note that the company’s pricing strategy is likely to be influenced by the entry strategy that you have selected in the Market Entry Assessment. If your entry strategy is exporting, then you need to suggest relevant pricing issues to the local importer in order to ensure consistency in the home and host country.              

10. Marketing Mix Strategies – Distribution (10 marks): 1 page

Discuss the types of distribution channel that the company will adopt in the host country with adequate rationale. Focus on the factors influencing the channel decisions. Please note that the company’s pricing strategy is likely to be influenced by the entry strategy that you have selected in the Market Entry Assessment. If your entry strategy is exporting, then you need to suggest relevant distribution issues to the local importer in order to ensure consistency in the home and host country.        

11. Marketing Mix Strategies – Promotion (10 marks): 1 page

Focus on the factors that are relevant for the company context to decide about on the promotional strategy and media decisions. Specify the promotional mix and strategies – standardization vs adaptation that the company will adopt in the host country with adequate rationale. Please note that the company’s pricing strategy is likely to be influenced by the entry strategy that you have selected in the Market Entry Assessment. If your entry strategy is exporting, then you need to suggest relevant promotion issues to the local importer in order to ensure consistency in the home and host country.                

12. Implementation and Budget (6 marks): 1 page

Describe how the company will implement the selected strategies (product, price, place and promotion) by specifying the sub-activities. Allocate a tentative timeline and budget for these sub-acidities and show these in a Table (if necessary, insert the table in the Appendix). 

13. Communication and Reference (4 marks): 

Ensure standard communication quality and follow a specific referencing style throughout the document. 

Plagiarised:

1. Executive Summary (10 marks): 1 page

The executive summary provides an overview of the marketing plan for [Company Name] to enter the [Target Market]. It summarizes the key findings from the situation analysis, including customer and competitor insights, macro environmental factors, and the company`s strengths and weaknesses. The summary outlines the SMART marketing objectives for the next three years and details the product, pricing, distribution, and promotion strategies. It also highlights the implementation plan, budget, and metrics for monitoring progress.

2. Introduction – Company and Country (5 marks): 1 page

Company Overview:
[Company Name] is a leading [Industry] company known for its innovative and high-quality products. Established in [Year], the company has a strong presence in [Home Market] and is looking to expand internationally to leverage growth opportunities.

Host Country Overview:
[Target Market] is an emerging market with significant growth potential in the [Industry]. With a population of [Population Size] and increasing disposable incomes, it offers a favorable environment for [Company Name] to introduce its products. The country’s economic stability, growing middle class, and openness to international brands make it an attractive market for expansion.

3. Situation Analysis – Customer Analysis and STP (10 marks): 1.5 pages

Customer Analysis:

• Demographics: The target customers are young professionals aged 25-40, with higher disposable incomes and a preference for premium products.
• Psychographics: These customers value quality, innovation, and brand reputation. They are trend-conscious and influenced by social media.
• Behavioral: The target customers are frequent buyers who are willing to pay a premium for quality. They show brand loyalty and engage with brands through digital channels.

Market Segmentation:

• Segment 1: Young professionals seeking premium products for personal use.
• Segment 2: Tech-savvy individuals who prioritize innovation and the latest trends.
• Segment 3: Environmentally conscious consumers who prefer sustainable products.

Targeting Strategy:
[Company Name] will target Segment 1 and Segment 2, as these groups have the highest potential for growth and alignment with the company’s brand values.

Positioning Strategy:
Position [Company Name] as a premium brand offering innovative and high-quality products that cater to the lifestyle and values of young professionals and tech-savvy individuals.

4. Situation Analysis – Competitors’ Strategies (10 marks): 1.5 pages

Key Competitors:

• Competitor 1: [Competitor Name], a market leader known for its strong brand presence and extensive product range.
• Competitor 2: [Competitor Name], recognized for its innovative products and aggressive marketing strategies.

Competitor Analysis:

• Competitor 1:

  • Segmentation: Targets a broad market, including both budget-conscious and premium customers.
  • Targeting: Focuses on middle to high-income consumers.
  • Positioning: Positioned as a reliable brand with a strong heritage.
  • 4P Strategies:
    • Product: Offers a wide range of products, including entry-level and premium options.
    • Price: Uses a tiered pricing strategy to cater to different customer segments.
    • Place: Extensive distribution network, including physical stores and online platforms.
    • Promotion: Utilizes a mix of traditional and digital advertising, emphasizing brand heritage and reliability.

• Competitor 2:

  • Segmentation: Focuses on young, tech-savvy consumers.
  • Targeting: Targets early adopters and trendsetters.
  • Positioning: Positioned as an innovative and cutting-edge brand.
  • 4P Strategies:
    • Product: Focuses on innovative features and the latest technology.
    • Price: Premium pricing strategy to emphasize quality and innovation.
    • Place: Primarily uses online channels and exclusive partnerships.
    • Promotion: Heavy reliance on digital marketing and influencer partnerships.

5. Macro Environmental Analysis (5 marks): 1 page

Economic Environment:

• Strong economic growth and increasing disposable incomes in [Target Market].
• Favorable exchange rates and low inflation rates.

Trade Environment:

• Open trade policies and agreements that facilitate import and export.
• Presence of trade barriers and tariffs specific to the industry.

Socio-Cultural Environment:

• High urbanization rate and a growing middle class.
• Cultural preference for premium and innovative products.
• Increasing awareness and demand for sustainable products.

Political Environment:

• Stable political climate with supportive government policies for foreign investments.
• Regulatory environment that ensures consumer protection and fair trade practices.

Legal Environment:

• Strict compliance requirements for product safety and quality standards.
• Intellectual property protection laws that safeguard brand assets.

6. Advanced SWOT (2+4 = 6 marks): 1 page

SWOT Matrix:

Advanced SWOT Matrix:

7. Marketing Objectives (4 marks): 0.5 page

SMART Marketing Objectives:

1. Increase market share in [Target Market] by 10% within the next three years.
2. Achieve a 20% growth in sales revenue within the first year of market entry.
3. Enhance brand awareness by 30% through targeted advertising campaigns within the first two years.
4. Acquire 50,000 new customers within the first year of operation.

8. Marketing Mix Strategies – Product (10 marks): 1 page

Product Strategy:

• Product Adaptation: Modify product features to meet local tastes and preferences, such as adjusting flavors, packaging sizes, and design.
• Branding Strategy: Maintain brand consistency while incorporating local cultural elements to enhance relatability.
• Maslow’s Need Hierarchy: Position the product to meet esteem and self-actualization needs by emphasizing quality, innovation, and prestige.
• Strategic Alternatives:
  • Global Product Planning: Introduce globally recognized products with minor adaptations for local markets.
  • Local Customization: Develop new product variants tailored to local preferences and market needs.

9. Marketing Mix Strategies – Price (10 marks): 1 page

Pricing Strategy:

• Key Factors Influencing Pricing:

  • Cost Structure: Include production, distribution, and marketing costs.
  • Competitor Pricing: Analyze competitor pricing strategies and position accordingly.
  • Customer Perception: Assess how customers perceive value and set prices to match expectations.

• Specific Pricing Strategy:

  • Penetration Pricing: Set a competitive price to attract customers and quickly gain market share.
  • Value-Based Pricing: Adjust prices based on perceived value and customer willingness to pay.

Pricing Issues for Local Importer:

• Ensure consistency in pricing between home and host countries to maintain brand integrity.
• Consider local economic conditions and purchasing power in setting prices.

10. Marketing Mix Strategies – Distribution (10 marks): 1 page

Distribution Strategy:

• Distribution Channels:

  • Direct Channels: Sell directly to customers through company-owned online stores and flagship retail stores.
  • Indirect Channels: Partner with local distributors, wholesalers, and retailers to expand market reach.

• Factors Influencing Channel Decisions:

  • Market Coverage: Ensure wide reach and accessibility for customers.
  • Partner Capabilities: Select partners with strong market presence and distribution capabilities.
  • Cost Efficiency: Optimize logistics and supply chain operations to reduce costs.

Distribution Issues for Local Importer:

• Provide training and support to local partners to ensure consistency in product handling and customer service.
• Develop an efficient logistics network to ensure timely delivery and inventory management.

11. Marketing Mix Strategies – Promotion (10 marks): 1 page

Promotional Strategy:

• Factors Influencing Promotional Decisions:

  • Target Audience: Tailor promotional activities to the preferences and behaviors of the target audience.
  • Budget Allocation: Allocate budget efficiently across different promotional channels.

• Promotional Mix:

  • Advertising: Use a mix of traditional and digital advertising to reach a broad audience.
  • Sales Promotion: Offer discounts, coupons, and special offers to attract customers.
  • Public Relations: Engage with local media, influencers, and community events to build brand credibility.
  • Direct Marketing: Use email marketing, SMS campaigns, and targeted online ads to reach customers.

Standardization vs. Adaptation:

• Standardization: Maintain a consistent global brand message to reinforce brand identity.
• Adaptation: Customize promotional content to resonate with local cultural nuances and consumer preferences.

12. Implementation and Budget (6 marks): 1 page

Implementation Plan:

• Product: Launch new product variants tailored to local tastes by [Specific Date].
• Price: Implement penetration pricing strategy from [Launch Date].
• Place: Establish partnerships with local distributors by [Specific Date].
• Promotion: Roll out integrated marketing campaign from [Campaign Start Date].

Timeline and Budget Allocation:

13. Communication and Reference (4 marks)

Communication Quality:

• Ensure clear, concise, and professional writing throughout the document.
• Use headings, subheadings, and bullet points for better readability.

Referencing Style:

• Follow [Chosen Referencing Style] (e.g., APA, MLA) consistently.
• Cite all sources of information, data, and research appropriately.

14. Appendices

• Include additional supporting information, such as detailed market research data, survey results, and financial projections.
• Example: Appendix A - Detailed Customer Survey Results.