Mkt505 assignment 3: creating an entry plan for a new international
Assignment 3: Creating an Entry Plan for a New International MarketDue Week 10 and worth 180 pointsThis assignment will provide you with firsthand experience in developing a strategic marketing plan for entering a new international market. Choose a global company with which you are familiar for this paper. Note: Do not use a company from previous assignments or discussions.Use the Internet or Strayer Library to research the following components of the global company that you have selected:Company Profile (History & Analysis)Product(s)Financial Status Market PositionAnalysis of current global operating environmentsIntegrated Marketing Communication (IMC) StrategyStrengths and Weaknesses AnalysisSustainable Competitive Advantage(s) enjoyed by the firmSources of funds for the projectPro-Forma Balance Sheet & Income Statement for five (5) yearsCash-Flow StatementWrite a five to six (5-6) page paper in which you:Choose a country into which the company you selected may expand. Provide your rationale for selecting the company and country you chose. Note: Ensure that the country you chose is not currently 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:Geographic and historical data regarding international businessPolitical and legal environment for conducting international businessBusiness customs and practicesEconomic environment Note: Refer to the following resource to complete this criterion of the assignment:A Basic Guide to Exporting Contents (http://export.gov/basicguide/eg_main_017244.asp) Scroll down to find A Basic Guide to Exporting ContentsAscertain the possibility and feasibility of integrating e-commerce into the company’s offering. Your research should include: Impact of regional and global trade integrationPotential volume of tradeThe marketing mix componentsKey cultural dimensions affecting marketing operationsAnalyze the key reasons why entering the market in the country that you have chosen is justified. Include your research and analysis from Criteria 2 and 3 of this assignment to support the response. Use at least six (6) academic resources in this assignment. Note: Wikipedia and 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.Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.