Week 1: Video Analysis

Using the company you select for your Course Project, write a one-page summary that briefly outlines your marketing goals, your strategic plans, and your tactical plans for market penetration.

Goals and PlansDescriptionMarketing Goals Driven by corporate goals, these establish strategic initiatives.Strategic PlansThese plans involve a long-term view, broadly defining the marketing mix and appropriate marketing activities that support your marketing goals.Tactical Plans These plans are a short-term, detailed implementation of initiatives that support your strategic plans.

Please follow APA 6th edition guidelines and submit your assignment as a Microsoft Word document.

Objectives

This assignment gives you the opportunity to create an integrated marketing strategy for a product or service of your choice to be launched into a new, foreign market. It will make the course come alive through application of the principles from the textbook, course materials, and discussions. Assignments such as this also help you develop business-oriented communication skills.

The creation of this assignment is an integral part of the course. It will enable you to demonstrate a good understanding of launching a new product into a foreign market through a clear identification and careful analysis of the relevant issues, to implement steps that are sufficiently clear and detailed for effective execution, and to demonstrate how your plan is viable. Developing the plan will require several weeks of research, critical analysis, critical thinking, and writing.

NOTE: The only way to do well on this project is to begin early and work on it consistently throughout the entire course.

Overview of Assignment

The MKTG430 Course Project is the creation of a strategic international marketing plan and summary presentation.

Assignment Details

Conduct research online or in the DeVry Library, and write a strategic International Marketing Plan following the steps below and summarize the plan in a presentation.

1. Identify a company that has a portfolio of products or services that you regularly purchase or utilize, or in which you are otherwise interested.
2. Recommend a new product or service to add to the company’s portfolio.
3. Select a foreign (host) market for the product.
4. Research the host market.
5. Create a marketing plan to launch the product.
6. Create a presentation to summarize your plan.
7. Capture the value of this assignment in a self-reflection.

Assignment Milestones

The Course Project has deliverables in Weeks 2, 4, 6, and 8. Please maintain one working draft and add to it throughout the course. So for each draft, resubmit the prior draft with any corrections recommended by your instructor, and add to it the current section.

Paper Guidelines

The MKTG430 Course Project Paper assignment is the creation of a strategic International Marketing Plan.

Paper Requirements

Write your Marketing Plan using the outline below. Every draft (and the final version) of the assignment must be formatted per APA 6th edition guidelines, written in the third person, and include the following.

• Running head
• Page numbers
• Double-spacing
• Times New Roman, 12-point type font
• Headings and subheadings
• In-text citations
• Title page
• Table of contents page
• Reference page

Submit your paper as a Microsoft Word document that is at least 15–20 pages in length, not including the cover page, table of contents, references, or self-reflection as part of the total length.

NOTE: There should be at least one in-text citation for each of the references on your reference page. A minimum of eight references are required.

Paper Outline

Include the following sections in your paper, using the section titles below as your headings. Use subheadings as appropriate. There is no required page length for any individual section, but the total paper should be at least 15–20 pages in length, not including the cover page, table of contents, references, or self-reflection pages as part of the total length. See below for detailed descriptions of each section.

1. Cover Page
2. Table of Contents
3. Executive Summary
4. Product Selection
5. Environmental Scan
6. Entry Strategy
7. Market Segmentation
8. Product Positioning
9. Brand Development and Management
10. Product standardization and adaptation
11. Product Pricing
12. Foreign Currency Implications
13. Channel Mix
14. Channel Management
15. Integrated Marketing Communications
16. Sales Management
17. Organizational Structure
18. Recommendations for Future Marketing
19. References
20. Self-Reflection

Part 1: Due Week 2

Submit the sections below.

• Product Selection
• Environmental Scan
• Entry Strategy
• Market Segmentation
• Product Positioning

SectionDescription

Product Selection

Select a product (good or service) of your choice to be launched into a new, foreign market and briefly discuss the product and its attributes, and how it provides value for customers. Items to include in your discussion are as follows.

• Product name
• Product attributes
• Product value creation

Environmental Scan

Select a new, foreign (host) market for your product and evaluate the environmental effects that are most likely to affect the international marketing of your product. Summarize your environmental scan in a SWOT analysis that covers the top three strengths, weaknesses, opportunities and strength. Present your SWOT as both a table (bullet points are ok) and a written explanation of each key factor. Environmental factors to consider are as follows.

• Geographic
• Political
• Societal
• Economic
• Legal
• Ethical
• Cultural

Entry Strategy

Analyze the stage of economic development for your host market. Select an entry strategy and evaluate how it balances control and risk. Discuss any cultural imperatives, electives, or exclusives, as well as any laws or ethics, that will affect the international marketing of your product. Items to include in your discussion are as follows.

• Entry mode
• Control versus risk
• Cultural imperatives, electives, and exclusives
• Legal and ethical implications

Market Segmentation

Evaluate the primary factors used to segment international markets and apply regional and/or national segmentation methods to identify target customers or target groups in the host market. Segmentation approaches to consider are as follows.

• Demographic
• Geographic
• Psychographic
• Behavioral

Product Positioning

Select one or more of the following seven positions and write a positioning statement that identifies the tactics you will use to establish effective product positioning in the host market. Positioning strategies to select from or combine include the following.

1. Product attribute
2. Competitive comparison/contrast
3. Use or application
4. Price quality
5. Product user
6. Product class
7. Cultural symbolism