You should pretend to be a firm (either one already existing in the US, or one that you choose to invent based in the US.) Your firm has decided to enter a new country that it does not already do business in. Further your firm has decided to enter with all (or fewer, can be as few as one) products from the current product portfolio. You have to write a Global Marketing Entry Plan for a target market in the country that I will be assigning to you this week.
Read chapter 12 (especially Exhibit 12.1 on page 356) on Global Marketing Management thoroughly. Concentrate on the sections called “Planning Process”.
Your paper will consist of a full report based on the Phases (concentrate on phases1-3) in developing the Global Marketing Entry Plan for your firm. You will have to make decisions on many aspects of the global entry (e.g. assigned country , target markets, product portfolio for entry, budgets, the 4Ps of the marketing mix, leadership/management style, personnel, cultural adjustments, and ethical considerations). Further, you will also have to justify your choices within the context of the information you possess.
Examples of marketing plans are available in your text, on the web and in the library in many other marketing textbooks. There is an additional working example in your MKT 301 textbook (the prerequisite for this course). Use any of those plans as a template. Just remember that you are introducing this product internationally and not in the US. Research the assigned country thoroughly. Do not leave any stone unturned in understanding the country and its geography, culture, people, demographic variables, history, mythology, habits, art, religions, family and social structures, foods, competitors, political structure, legal structure and any other variable that you think is important and might impact your entry into that market adversely.
● Page length 12-15 pages (all inclusive), double spaced
● Provide full descriptions of all the decisions you make. For example, if you choose only one product line (e.g. shampoo) as your entry product, describe the line (including fragrances, sizes, shapes, forms etc.) in your report. Pictures will help.
● Justifications have to be provided for all your decisions. For example, if you choose to enter via strategic alliances, explain why, and briefly remark on why other forms of entry (e.g. exporting, franchising, and joint ventures) would not work.
● Describe the (any) modifications you would make to the 4 Ps in order to adapt to the new target market and why you would do so.
● Make reasonable assumptions for budgets and expected sales.
● Must also include recent newsworthy information (i.e. regulation, policy, politics, cultural, etc.)
● Bonus points for a direct quote from your country’s DC or NYC based consulate, embassy, economic board etc. from an interview or email communication.
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