Global Marketing Individual Report
In this report you will have the experience of developing a global marketing strategy for a British company planning entry into one of the BRIC/Mint countries. You will be required to develop a project proposal for the company. You will select a specific product/brand and assume that you are the marketing management team for that product/brand. Your product/brand should NOT be marketed in that country yet.
You can choose from the following industries:
Food/snacks
Technology
Clothing/sportswear
Luxury goods
It is advisable to briefly gather information/research the target country (in terms of PESTLE factors) before you decide. The final report should contain:
- An introduction
- Brief product/service/brand information / background
- Chosen Market and Competitor analysis (within chosen market)
- Social (cultural factors) and economic analysis
- Marketing strategy (STP)
- Marketing plan (students are expected to use 4p’s )
- Conclusions & Recommendations
You will have the opportunity to obtain feedback on your draft report before final submission in week 11; this will be during seminar time. (See assessment criteria below for further guidance).
Learning Outcomes Assessed:
- LO1 Determine the types of information required for effective global decision-making.
- LO2 Identify the key socio-cultural factors and the nature of their impact on global marketing
- LO3 Evaluate the opposing arguments for standardizing or adapting the elements of the marketing mix in different markets/countries.
- LO4 Determine specific marketing activities based upon knowledge of the key characteristics of the target audience.
- LO5 Select, integrate and justify appropriate promotional mixes to meet the needs of the marketing communication strategies.
- LO6 Be aware of the impact and contribution information technology makes to global marketing, and can be appreciative of and sensitive to issues associated with cross-border marketing communications.
Structure of report
Title page
Table of contents
Executive summary ( summary of all key parts of your reports: aim, market analysis, environmental analysis, market entry strategy, STP, 4Ps)
Introduction ( overview of the chosen company, key ranges of products/ services they sell; key performance indicators eg. Annual reports – financial performance and other achievements; business objectives, mission, vision, market share; present the purpose and structure of the report) – company’s website, annual reports, industry reports eg. Mintel.
Market and competitors analysis ( conditions on the new market, trends, key players and size/ market share, performance of competitors) – industry reports eg. Mintel, MarketLine, Euromonitor. IbisWorld etc.; competitors’ websites ( could use Porter’s 5 forces, however only outline key elements in main body of text)
Environmental analysis external and internal (PEST/ PESTEL/STEEPLE and SWOT) in the main body of the text outline only a few key internal and external factors. Can use the appendix for extended analysis and tables – external : news, specialised magazines, industry reports, case studies, country reports; internal : company’s website and annual reports, case studies.
Market entry strategy and Segmentation, Targeting, Positioning
- Identify and discuss the chosen market entry strategy ( eg. Exporting, contract manufacturing, licensing, franchising, joint ventures, mergers etc.) – comparison, contrasting, critiquing – books, journal articles, specialist publications eg. Magazines such as Marketing Week
- STP ( identifying a target audience and discussing what segmentation basis have been used here to choose the target audience) – positioning – linked to competitors ( eg. positioning map) – compare their home positioning, international and new market positioning – books, journal articles; specialist publications/ case studies.
Marketing mix plan and implementation
- Develop a plan using the 4Ps model on how to adapt/ standardize strategies for the new market – books, journal articles – search for journal articles based on keywords linked to each P of the marketing mix and the industry you have chosen.
Conclusions/ Recommendations
Summarise key ideas emerging from your report.
Key recommendations based on issues identified In the analysis of the report.
