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MKT505 Assignment 3: Entry Plan into International Market

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Question;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;?;-;Company Profile (History & Analysis);?;-;Product(s);?;-;Financial Status;?;-;Market Position;?;-;Analysis of current global operating environments;?;-;Integrated marketing communication (IMC) Strategy;?;-;Strengths and Weaknesses Analysis;?;-;Sustainable Competitive Advantage(s) enjoyed by the firm;?;-;Sources of funds for the project;?;-;Pro-Forma Balance Sheet & Income Statement for five (5) years;?;-;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.;?;?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.

 

Paper#47033 | Written in 18-Jul-2015

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