Professional Documents
Culture Documents
Tasks
There are in effect three key inter-related components to this task with Part 1 and Part 2 providing key inputs into Part 3. 1. Company Understanding - Base Using the material provided and other RELEVANT material you are to provide an overview of the firm. This should be from the perspective of its current situation/challenges and its need/requirement to develop an International Marketing Strategy for the nominated overseas market. Equally you should use this task to develop your ideas on the companys relative capacity and resource base again with regard to international business and marketing. This collective understanding will be a major factor in shaping the final International Marketing Strategy 2. Overseas Market Understanding Clearly in order develop an International Marketing Strategy there is a need to develop a highly relevant and strong understanding of the agreed overseas market. You are therefore required to undertake an analysis of the overseas market. You might wish to draw on the A Country Notebook framework which is on Moodle. Key aspects that should be considered include: Culture Social and Demographics Political/Legal/Regulatory Economic Competitors/Competitive Environment
Remember this task is not just a mix of data you have been able to access via the range of usual sources. It requires you to prioritise the type of data you believe will be important to allow you to develop an appropriate International Marketing Strategy. This task should help you identify some of the markets: Key swing factors Key success factors and Key risk factors
And to assess the underlying attractiveness of the market for the nominated for firm. 3. International Marketing Strategy Proposed/Recommended
Using the material generated from the above two sections you are required to develop an International Marketing Strategy. This strategy should consider factors like: Entry Mode Adaptations Required e.g. Price/Place/Product/Promotion Risk Management Regimes
You should prepare this as a report to the Executive Management team of the designated firm outlining your well-developed proposed International Marketing Strategy. As such it does not require you to go into tactical detail - but present the Executive Management team with good information on the nominated overseas market and a highly relevant suggested moving forward strategy. It is appropriate though not essential that the report could be presented in well-developed point form with a lot of material provided as Appendices. However it is essential that the report is appropriately referenced and shows overall logic and feasibility. A detailed Marking Guide is available for this key assessment and learning task.
Hints It is CRITICAL that you are able to draw out KEY IMPLICATIONS for Part 1 and Part 2 as it impacts on the firm and the resultant International Marketing Strategy. Getting the facts and figures is only PART of the two task areas. Again as a business report it should include an Executive Summary, a Table of Contents, Bibliography and Appendices. A lot of supporting material can be included as Appendices. Source material should be correctly identified and referenced. If you are unsure about the format please ask your lecturer for advice and guidance.
The necessity for an international and global mindset Environmental and cultural approaches to international marketing A comparison of the various approaches to international marketing management Competitive challenges and opportunities facing today's international marketer
The importance of recognising cultural differences in the development of an international orientation The growth and development of trading blocs, regional market groups and strategic international alliances International and global marketing management tasks and decisions Implementing the strategic international marketing programme including managing international distribution, selling and negotiating in international markets, managing international marketing operations