Complete a global marketing plan paper (750-1500 words) that will introduce a consumer product (or service) sold in the United States into a foreign market in which it is currently not available. The purpose of developing a global market entry plan is to provide you with practical experience designing an international marketing strategy that accommodates the distinctive cultural and economic features of a foreign market entry.
Begin by researching and selecting a product or service and target foreign market. The cultural and economic research will inform your marketing analysis and strategies as well as your entry and implementation plan. A successful plan entails unique marketing strategies with thorough support for how the specific strategies would account for the unique cultural and economic demands of your proposed cross-border market entry.
Please refer to “The Country Notebook — A Guide for Developing a Marketing Plan” in the topic materials for detailed suggestions about what constitutes a cultural and economic analysis (as well as detailed marketing activities) for an international marketing plan. At a minimum, the elements of your plan should include the following sections:
Product and Country Background
- Description of the product and its features and benefits
- Brief target country background
- Rationale for introducing the product into the respective foreign market
Cultural and Economic Analysis
- Cultural and social characteristics that may affect marketing operations (e.g., income, language, population characteristics, norms, values, and beliefs)
- Economic factors that may affect marketing operations (e.g., GDP, income distribution, communication systems, technology, employment, growth rate, inflation rate, and infrastructure)
- Political, regulatory, and legal factors which may pose a challenge and affect marketing operations
- Target market and competitive analysis
Marketing Analysis and Strategies:
- Marketing objectives
- Product requirements/adaptation
- Promotional decisions/strategies
- Distribution decisions/strategies
- Pricing decisions/strategies
Market Entry and Implementation
- Market entry structure
- Organizational structure
- Technological factors
- Budget and financial projections
You may use references from books, articles from reputable journals, or government sources.
The purpose of this assignment is to apply what you are learning in class to a real-life marketing situation. It is critical that you correctly use the international marketing concepts learned in the class and in the text.
Your grade for the assignment will be based on your application and understanding of the concepts, the appropriateness of your market research, and the quality of your writing.
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to LopesWrite. Refer to the directions in the Student Success Center.
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