Reference no: EM132119928
Create an imaginary international business and product, and prepare to present your international marketing plan for the business. In doing so, draw on relevant key concepts from the lectures, assigned readings, and additional academic references (e.g. journal articles). The assignment largely assess your ability to decide between competing strategic options, and how to properly construct/ adapt your business for a particular cultural environment.
? An important component of the assignment is demonstrating that you can determine what types of strategic considerations are relevant for your particular business
? Be as comprehensive as possible (i.e. wide in your coverage), but also do not be afraid to skip concepts which are irrelevant to your company and product
? Be able to identify which concepts are most relevant to your business, product, and target markets. Spend the most time on these concepts, while nevertheless addressing a wide variety of ‘basics’
In setting up your plan, you should demonstrate clear understanding of basic tenets of international marketing. These include:
? What does it mean to do international business? (e.g. standardisation vs. adaptation)
? Is it a product that requires adaptation, or one that is considered to be ‘generic’? Even in the case of a generic product, do marketing communications need to be modified for different markets?
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? What marketing mix are you going to implement for your product when marketing it internationally?
In the past, students have considered creative examples such as:
? How universities are marketed internationally
? How ‘cultural’ products are marketed internationally (e.g. Mexican food, French wine, Scandinavian design)
? How small businesses run international marketing campaigns
? International marketing strategy for non-profit organisations
These are only examples, the point is that you are welcome and encouraged to think of international business very broadly, and not solely from the perspective of a ‘global brand’. You are, of course, free to write from that perspective as well.
The goals of the assignment are aligned with the learning outcomes for the module. Specifically, in completing the assignment a student should be able to:
? Explain the nature of, and key trends within, the international marketing environment
? Apply academic international marketing concepts to a business context
? Develop marketing mix decisions in an international context (e.g. communications, new technologies) and identify the role culture has to play
? Design appropriate international marketing strategic planning
1 slide: summarising key influences in the marketing environment using a recognised framework
3 slides: market entry strategies (STP)
3 slides: for market action programme including product, price, and place (1 slides for each)
3 slides: marketing communication programme in inter-cultural context (objectives, promotional mix, choice of dialogical/outbound communications)