International Marketing
Devise an International Marketing plan based on a company brand of your choice from the options list on page 5. The options consist of various SME brands and specific brands from some larger corporates. They have all been carefully selected as they are not well internationalised but have significant potential to grow internationally in the right circumstances. Within the Marketing plan, you should follow a structured process based on the following requirements:
Country Analysis: Use appropriate theories, frameworks, and methodologies to draw up a shortlist of countries for your chosen brand. Based on a short comparative analysis, select the most suitable country to set as an immediate priority in the later stages of your marketing plan below. Ensure your final country selection is well justified.
Country Focus: (Use 8-9 C’s of 12C’s theory) Provide a critical analysis of your chosen market in terms of the following:
Opportunities based on macro-level indicators including economic statistics and socio-economic trends.
Relevant socio-cultural factors and cultural norms.
Infrastructure, including both digital and physical aspects.
Other specific market trends and opportunities in the domestic
sector of the selected country that relate to your brand.
Firm & Competitor Focus: A critical assessment of the internal aspects of the company, the associated product, and how it compares to competitors in the domestic market.
This is dependent on the amount of information available. However, it is crucial to determine the relative strengths and capabilities of your chosen company when entering the market.
The marketing objectives, mode of entry, and marketing mix strategy (4 Ps) in parts d-f should be directly influenced by your findings in parts a-c.
International Marketing Objectives: Develop specific international marketing objectives, which are directly in line with the research results from parts a-c. These should be adequately justified and based on the principles of SMART. See: https://corporatefinanceinstitute.com/resources/knowledge/other/smart- goal/
Segmentation, Targeting & Positioning (STP): Identify a relevant segment(s) and target group(s) in your chosen country. Note: Do not just rely on age and gender characteristics.
International Market Entry Strategy: In this section you need to provide the recommended mode(s) of entry that can help your chosen company achieve the set objectives. The theories, models, and concepts presented in the recommended textbooks and lectures need to be applied to justify your international market entry decision. You should provide a brief justification of why you chose a specific mode(s) of entry and rejected others.
Marketing Mix Strategy: In this final section you need to specify the strategies that will support the mode of entry using the marketing mix framework (4Ps). Discuss what needs to be adapted for the new market, and what can remain standardised from the original marketing strategies.