Description
Assignment 2: International Marketing Plan
((Worth 220 points - Due AUG 25, 2017)
Reference/Textbook: Global Marketing (9th Edition)
Author/s: Keegan, W. J., & Green, M. C. (2016) – Boston, MA: Pearson Education.
You will use your chosen country (from the Discussions) for this Assignment. In addition to the country, you will reference the shoe manufacturing firm (introduced in the Discussions).
Write a six (6) page paper in which you:
- Identify two (2) forms of market segmentation for your shoes, and support your choices. Then, identify two (2) target markets for each segment, and explain those choices. Note: A market segment (generally) is the group(s) the firm wants to market to; while the target market(s) is the specific market (e.g., city) that the segment(s) are located in.
- Give examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Describe why each goal is important to the firm.
- Select the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Provide a rationale to support why you chose this program.
- Choose the global pricing policy that will best suit your firm and selected country. Support your decision for choosing such a policy.
- Choose the marketing channel alternative that will best suit your firm and selected country. Describe the function of each channel member.
- Describe the sales promotions that will be used entice both consumers and trade channel partners.
- Determine whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country.
- Use at least five (5) quality academic resources for in-text citations in this assignment. Note that Wikipedia and similar type websites do not qualify as academic sources.
- Format your assignment according to the following formatting requirements:
- Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
- Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
- Evaluate the considerations for product adaptation in foreign markets and common approaches to adjusting promotional strategy to fit foreign markets.
- Examine the process for market research to assess foreign market potential.
- Analyze the strategic marketing planning process, strategies for entering foreign markets, and considerations for subsequent market expansion.
- Determine the logistics and product distribution channel options available to support international marketing.
- Formulate the core marketing concepts into viable marketing strategies to support exporting and the full range of global marketing operations.
- Assess the key factors in price determination, alternative pricing strategies used in international marketing, and the common terms of sale and payment used in international marketing.
- Use technology and information resources to research issues in international marketing.
- Write clearly and concisely about international marketing using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the rubric below:
| Points: 220 | Assignment 2: International Marketing Plan | ||||
| Criteria | Unacceptable Below 60% F | Meets Minimum Expectations 60-69% D | Fair 70-79% C | Proficient 80-89% B | Exemplary 90-100% A |
| 1. Identify two (2) forms of market segmentation for your shoes, and support your choices. Then, identify two (2) target markets for each segment, and explain those choices. Weight: 12% | Did not submit or incompletelyidentified two (2) forms of market segmentation for your shoes, and did not submit or incompletely supported your choices. Then, did not submit or incompletely identified two (2) target markets for each segment, and explain those choices. | Insufficiently identified two (2) forms of market segmentation for your shoes, and insufficiently supported your choices. Then, insufficiently identified two (2) target markets for each segment, and explain those choices. | Partially identified two (2) forms of market segmentation for your shoes, and partially supported your choices. Then, partially identified two (2) target markets for each segment, and explain those choices. | Satisfactorily identified two (2) forms of market segmentation for your shoes, and satisfactorily supported your choices. Then, satisfactorily identified two (2) target markets for each segment, and explain those choices. | Thoroughly identified two (2) forms of market segmentation for your shoes, and thoroughly supported your choices. Then, thoroughly identified two (2) target markets for each segment, and explain those choices. |
| 2. Give examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Describe why each goal is important to the firm. | Did not submit or incompletelygave examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Did not submit or incompletely described why each goal is important to the firm. | Insufficiently gave examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Insufficiently described why each goal is important to the firm. | Partially gave examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Partially described why each goal is important to the firm. | Satisfactorily gave examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Satisfactorily described why each goal is important to the firm. | Thoroughly gave examples of four (4) actionable goals for your business as you embark on your mission to import shoes into your chosen country. Thoroughly described why each goal is important to the firm. |
| 3. Select the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Provide a rationale to support why you chose this program. Weight: 12% | Did not submit or incompletelyselected the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Did not submit or incompletely provided a rationale to support why you chose this program. | Insufficiently selected the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Insufficiently provided a rationale to support why you chose this program. | Partially selected the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Partially provided a rationale to support why you chose this program. | Satisfactorily selected the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Satisfactorily provided a rationale to support why you chose this program. | Thoroughly selected the global product marketing program that you feel best suits your firm as a strategic alternative in your chosen country. Thoroughly provided a rationale to support why you chose this program. |
| 4. Choose the global pricing policy that will best suit your firm and selected country. Support your decision for choosing such a policy. Weight: 12% | Did not submit or incompletelychose the global pricing policy that will best suit your firm and selected country. Did not submit or incompletely supported your decision for choosing such a policy. | Insufficiently chose the global pricing policy that will best suit your firm and selected country. Insufficiently supported your decision for choosing such a policy. | Partially chose the global pricing policy that will best suit your firm and selected country. Partially supported your decision for choosing such a policy. | Satisfactorily chose the global pricing policy that will best suit your firm and selected country. Satisfactorily supported your decision for choosing such a policy. | Thoroughly chose the global pricing policy that will best suit your firm and selected country. Thoroughly supported your decision for choosing such a policy. |
| 5. Choose the marketing channel alternative that will best suit your firm and selected country. Describe the function of each channel member. Weight: 12% | Did not submit or incompletely chose the marketing channel alternative that will best suit your firm and selected country. Did not submit or incompletely described the function of each channel member. | Insufficiently chose the marketing channel alternative that will best suit your firm and selected country. Insufficiently described the function of each channel member. | Partially chose the marketing channel alternative that will best suit your firm and selected country. Partially described the function of each channel member. | Satisfactorily chose the marketing channel alternative that will best suit your firm and selected country. Satisfactorily described the function of each channel member. | Thoroughly chose the marketing channel alternative that will best suit your firm and selected country. Thoroughly described the function of each channel member. |
| 6. Describe the sales promotions that will be used entice both consumers and trade channel partners. Weight: 12% | Did not submit or incompletelydescribed the sales promotions that will be used entice both consumers and trade channel partners. | Insufficiently described the sales promotions that will be used entice both consumers and trade channel partners. | Partially described the sales promotions that will be used entice both consumers and trade channel partners. | Satisfactorily described the sales promotions that will be used entice both consumers and trade channel partners. | Thoroughly described the sales promotions that will be used entice both consumers and trade channel partners. |
| 7. Determine whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country. Weight: 12% | Did not submit or incompletely determined whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country. | Insufficiently determined whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country. | Partially determined whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country. | Satisfactorily determined whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country. | Thoroughly determined whether the firm will use salespeople or sales agents to promote and sell your products in the chosen country. |
| 8. 3 references Weight: 4% | No references provided | Does not meet the required number of references; all references poor quality choices. | Does not meet the required number of references; some references poor quality choices. | Meets number of required references; some references poor quality choices. | Meets number of required references; all references high quality choices. |
| 9. Clarity, writing mechanics, and formatting requirements Weight: 12% | More than 8 errors present | 7-8 errors present | 5-6 errors present | 3-4 errors present | 0-2 errors present |
Explanation & Answer
Attached.
Running Head: International Marketing Plan
1
International Marketing Plan
Student:
Professor:
Course:
Date:
International Marketing Plan
Introduction
Chic and Trendy, my shoe firm is entering its first year of operation. A comprehensive
international marketing plan is therefore essential in order for this it to ensure future success and
also reach profitability. Chic and Trendy offers an unprecedented selection of current leather
shoe fashions. This firm has captured a great deal of information about their market and knows
much about the common attributes of the most prized customers. Chic and Trendy will therefore
leverage this information to better comprehend who should be served, their particular needs and
how it can better communicate with its customers.
Forms of market segmentation
The two forms of market segmentation for my shoes are behavioral segmentation and
psychographic segmentation. My firm would be targeting individuals looking for fashion and
daily comfort, which brings about the customers’ behavior. Behavioral segmentation divides the
Australian population on their decision making, behavior and usage pattern. My firm would
break down its customers, not by demographics, but by behavior. Behavioral segmentation
focuses on how the customers purchase and utilize products, and also how often and how much it
is utilized and consumed.
Within the behavioral segmentation, I will target the fashion market, which is into the
fashion elements of leather shoes. They are more of creative designs that can become part of
their unusual and fancy dress. I will also target the housewives who have plenty of disposable
income due to their husbands. Housewives love shoes, and can therefore spend reasonable
periods of time doing shoes and clothes shopping. This is an attractive group considering that
2
International Marketing Plan
they have both the time and money for shoe shopping. With both time and money, this group can
willingly shop for unlimited number of leather shoes.
My firm will also use psychographic segmentation to target people with specific
personalities and lifestyles. Psychographic segmentation uses the lifestyles of individuals, their
interests, their activities, and also their opinions to define a market segment. In other words,
Keegan and Gree...
Review
Review
