Description
Complete a global marketing plan paper (1,500-2,000 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:
Executive Summary
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.
Explanation & Answer
Attached.
I.
Product and Country Background
A. Footwear is the garments that are worn on the feet and serves to protect the person
wearing them from adversities of the environment that are commonly divided into rough
grounds and extreme temperatures.
B. The People ’s Republic of China is a country located in East Asia. It is one of the most
popular countries with a population of more than one billion.
C. The country has engaged itself with a number of manufacturing and production that has
made it be one of the largest economies.
II.
Cultural and Economic Analysis
A. The difference in language is a factor to consider while conducting international trade.
B. Technology expertise, inflation, and interest rates are some of the economic factors that
might affect customer purchasing power in international trade.
C. Political and legal factors can affect how a business operates as it can be more or less
friendly.
III.
Marketing Analysis and Strategies
A. The main objective of marketing is to make people aware of an existing product with the
aim of making more sales and earning more profit for business growth.
B. Customer research is the most appropriate way of adapting a product.
C. Distribution of sporty footwear across China to reach to the target market will require
excellent distribution strategies.
IV.
Market Entry and Implementation
A. During marketing entry, the business needs to understand the structure of the market
before entry.
B. The organizational structure of the business entering a new market must be considered to
fit the market.
Running head: GLOBAL MARKETING PLAN
Global Marketing Plan
Name
Institution Affiliation
1
GLOBAL MARKETING PLAN
2
Global Marketing Plan
Executive Summary
Footwear is the garments that are worn on the feet and serves to protect the person
wearing them from adversities of the environment that are commonly divided into rough grounds
and extreme temperatures. Technology expertise, inflation, and interest rates are some of the
economic factors that might affect customer purchasing power in international trade. The main
objective of marketing is to make people aware of an existing product with the aim of making
more sales and earning more profit for business growth. During marketing entry, the business
needs to understand the structure of the market before entry.
Product and Country Background
Footwear is the garments that are worn on the feet and serves to protect the person
wearing them from adversities of the environment that are commonly divided into rough grounds
and extreme temperatures. These wears can also be used for fashion and might indicate th...
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