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Assignment 3: Entry Plan into International MarketDue Week 10 and worth 300 pointsThis assignment will provide you with firsthand experience in developing a strategic marketing plan for entering a new
Assignment 3: Entry Plan into International Market
Due Week 10 and worth 300 points
This assignment will provide you with firsthand experience in developing a strategic marketing plan for entering a new international market. Choose a global company that you are familiar with for this paper. Note: Do not use a company from a previous assignments or discussions.
Use the Internet or Strayer Library to research the following components of the global company that you have chosen:
- Company Profile (History & Analysis)
- Financial Status
- Market Position
- Analysis of current global operating environments
- Integrated marketing communication (IMC) Strategy
- Strengths and Weaknesses Analysis
- Sustainable Competitive Advantage(s) enjoyed by the firm
- Sources of funds for the project
- Pro-Forma Balance Sheet & Income Statement for five (5) years
- Cash-Flow Statement
Note: You may also use the following resource for your research:
§ Financial profiles for global companies:
Write a five to six (5-6) page paper in which you:
- Choose a country into which the company you selected may expand. Note: Ensure that the country you chose is currently not doing business with the selected company in any capacity (e.g., exporting, FDI, or contract manufacturing).
- Develop a brief profile of the country that you have chosen. The summary should include:
a. Geographic and historical data regarding international business
b. Political and legal environment for conducting international business
c. Business customs and practices
d. Economic environment
e. Socio-economic analysis which should include the factors of concern (e.g., population characteristics, language, GDP, taxation, personal income, labor, industries, communication networks, imports / exports, and major trading partners’ countries).
Note: Refer the following resource to complete this criterion of the assignment:
§ A Basic Guide to Exporting Contents
- Ascertain the possibility and feasibility of integrating ecommerce into the company’s offering. Your research should include:
a. Impact of regional and global trade integration
b. Potential volume of trade
c. The marketing mix components
d. Key cultural dimensions affecting marketing operations
- Analyze the key reasons why the entering the market in the country that you have chosen is justified. Include your research and analysis from Criteria 1 and 2 of this assignment to support the response.
- Determine at least three (3) potential risks of foreign market expansion using ecommerce for the country that you have chosen (e.g., language barriers, regulatory, taxation, expropriation, etc.). Suggest one (1) strategy to mitigate each risk that you have determined using weighted metrics with a baseline number(s).
- Suggest at least two (2) ways in which you would adapt the operational strategies of your chosen company both to fit the changing dynamics of foreign markets and to foster a competitive advantage for the company.
- Use at least six (6) academic resources in this assignment. Note: Wikipedia and other similar Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- 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 and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Formulate, implement, and evaluate effective marketing strategies based on an analysis of global operating environments, market dynamics, and internal capabilities.
- Analyze the major economic, cultural, and political / legal aspects of the international business environment, including the economic dynamics of foreign trade, impact of regional and global trade integration, and key cultural dimensions affecting marketing operations.
- Assess the potential risks and benefits of various international markets and formulate effective market entry strategies to support foreign market expansion.
- Integrate global information systems in the use of market research.
- Integrate the concepts of market segmentation, product development, and pricing policies into viable marketing strategy to fit a variety of international market environments.
- Construct product distribution channels and logistics to meet marketing objectives and fit a variety of global market environments.
- Analyze an integrated marketing communication (IMC) strategy to support global marketing operations.
- Integrate global e-Commerce into the marketing strategy.
- Evaluate and adapt corporate marketing strategies to fit the changing dynamics of foreign markets and foster a competitive advantage.
- Use technology and information resources to research issues in international marketing.
- Write clearly and concisely about international marketing using proper writing mechanics.