As part of this assignment, you will be required to write an International Marketing Report for a real life company. You need to take special care regarding the mission statement of the company and verify if Corporate Social Responsibility or concepts on Sustainability are being followed. When writing the International Marketing Report you will be required to access, analyse and take decisive decisions in complex situation drawn from this real life setting, taking into consideration the sustainable, social and ethical concepts of a firm.
The objective of this assignment is:
- To enable you to understand international marketing strategy and the elements of international marketing analysis, including customer analysis, company analysis and competitor analysis.
- To assist you with evaluating the elements of the international marketing mix (product, pricing, promotion, and distribution strategies)
- To enhance your problem solving techniques and decision making skills by learning how to leverage strategic international marketing analysis to inform tactical marketing mix decisions while allowing you to consider a comprehensive framework for evaluating international marketing decisions and to create successful international marketing planning initiatives.
- To expand your knowledge in the area of international marketing strategy while increasing your awareness of the different strategic and tactical initiatives that are available
- To be able to identify and act on sustainable, social and ethical concepts required in international marketing planning.
A major and very important requirement is that you strongly link international marketing theories and concepts to the issues identified for your case organisation. Theory provides the framework from which to look at and understand the assignment question and to provide a perspective for examining the research data. The text and lectures provide the basic theory about international marketing and the terms used such as an explanation of the international marketing environment and specifically the macro-environment.
You should aim to start thinking about the international marketing theory they have been learning and to begin using that perspective to better understand specific Consumer Products organizations that are operating in the target country marketplace.
Rationale: You will gain knowledge about international marketing and also see that there is a wide range of information available from a range of sources that can be used by organizations for analysis. In writing the report students will be able to understand the concepts behind international marketing planning and the need to be coherent, concise, clear, well-argued, and well-presented.
Case Setting for the International Marketing report
- Penfold wine (Grange)
International Marketing Report Consultant’s Brief:
The brief is divided into two parts.
Part A involves
Environmental and internal analysis
- a) Statement of the name of the company for whom the plan is to be written, and the chosen country market.
- b) Product selection. One product will be selected from the organisation’s portfolio of products. Based on this selection the brief requires an assessment of market demand (market analysis); an assessment of the segmentation and positioning opportunities in the international market; an assessment of the size of the international market for the product and a forecast of future demand.
- c) Researching the internal and external environments of the company. This research phase is essential since marketing decisions are only ever as good as the information on which they are based (Tookey, 1964)1. Thus, gathering valid, reliable and relevant information is a critically important stage in the process of formulating effective international marketing strategies. I look forward to being delighted by the excellence of the marketing research skills that will be demonstrated by the groups in this regard. Further details on the requirements of this section are to be found in the document “Suggested Guidelines for Writing the International Marketing Plan.” Note: a formal statement of the organisation’s mission statement is required.
To assist in the research process a list of secondary information sources have been embedded in subject LMS. The site includes URL’s for several high grade sources of secondary data, both macro-level and micro-level. Specifically, the World Bank Group web site provides valuable macro level (country/regional) information that will be of value in the assessment of the economic, social, cultural, political and legal environments. Equally, the country reports provided by Austrade are very good. They are also free.
For the record, all information sources must be properly referenced.
Again for the record, although descriptive summaries of the research findings have a place in the final report the greatest weight will be given to the analysis of the information uncovered and its synthesis within the framework of the problem being addressed.
Statement of Problems and Opportunities
Synthesising and critically reviewing the findings set out in the above situation analysis, leading to a statement of the factors critical to ensuring the organisation’s continued success (both domestically and internationally), together with an assessment of the extent to which its existing capabilities/competencies will allow it to achieve the desired level of success, and the role of the selected product in achieving this outcome.
To include a statement of the country you propose to penetrate/expand into and the product, together with supporting argument.
Part B involves
International Marketing Objectives
- a) Developing actionable, realistic, measurable international marketing objectives, which are directly in line with the research findings. To include both financial and non-financial objectives, together with supporting argument.
International Marketing Strategy
- b) Developing a foreign market entry strategy for the targeted country. To include a statement as to the type of entry strategy (market concentration or market penetration), together with supporting argument. Where possible, discuss the structure of the product market in the target country and list names of target country importers/distributors/ major retailers.
International Marketing Program
- c) Stating the proposed treatment of the components of the international marketing mix (product, price, promotion, place) necessary to implement the desired international marketing strategy for the product in the target country. To include specific objectives for the 4P’s (e.g., a pricing objective for the product), an outline of the related program (e.g., the pricing program for the product) and commentary on how these four international marketing mix programs are integrated. Supporting argument is also required, such as existing pricing practices in target country, potential for private label supply, retail structure.
Evaluation and Control
- d) Stating the performance measures to be monitored in order to provide a means of evaluating the success or not of the marketing program for the product in the target country.
- e) A synthesis of all the relevant background material and the various analyses into an executive summary, preparatory to presenting the International Marketing Plan to your sponsoring organization.
Tips for completing this assignment
- Your lecturer will be looking for a quality international marketing report that reflects and supports your understanding of the subject matter. Please provide him with one.
- Ensure that your report is lucid and consistent, is supported by international marketing theories and concepts and that all references are cited in the body of your report.
- The research, analysis and presentation of your report must demonstrate an understanding of the terminology used in the text and in lectures and how the various forces/influences that impact an industry and an organisation.
- In a good assignment, you identify and analyse the main issues asked for in the requirements. Therefore, read the requirements thoroughly.
- Your report will be appropriately referenced, and the information will be supported by the referenced sources of information used. The lack of references will constitute an automatic fail.
- Write a clear and well-structured international marketing report. Do not submit a glorified story about the organisation.
- Don’t reinvent the wheel and don’t attempt to exaggerate your international marketing knowledge by making your report too complex and difficult to follow.
- By all means look for ways to add more theory, concepts, details or information, but remember the KISS principle.
- Start early. Time has a habit of racing when assignments are due.
End note: I have used the term “product” throughout the specification of the brief. Participants may elect to focus on a “product line”, as long as the scope remains manageable. Equally, participants may choose to study a service/service line offered by a company.
A suggested format for writing the marketing plan is outlined in the document “Suggested guide for writing the international marketing plan”