Marketing Report: Evaluation of international market opportunities
Budget: £10 – £20 GBP
Evaluation of international market opportunities
You should:
- provide a clear rationale for marketing a selected SME product/service in one international markets (excluding the UK and US market)
- set clear criteria for selecting a target market in chosen country
- develop a sales strategy in chosen target market
- determine appropriate market entry strategies
1 Select a company or a brand
First you may choose a company, a brand or a service offering on which to focus your efforts. You have a choice of Sandeman Events, The Berkeley Partnership LLP or Retrouvai.
2 The decision to internationalise
Should the company go international or not? What are the competencies of the firm and how should they be utilised internationally? You need to first define your chosen company’s objectives in regard to international markets, i.e. the degree of desired involvement, competitive advantage, positioning and overall orientation.
3 Deciding which market to enter
After selecting a company, you should develop a regional strategy by evaluating country attractiveness and market potential. You may consider the following regions: Latin America, the Middle East, South East Asia. Then select a regional market i.e. Brazil, Shanghai, or Dubai.
Please note that you are required to provide a clear rationale of the appropriateness of your chosen region, country market for your selected company. You should identify and assess the key factors for screening a regional market and a country.
You should decide which market to enter, along with the order and time of entry. You should collect relevant data to identify and evaluate the potential market opportunities. You need to be selective in your choice of indicators. In screening, you may wish to adopt a multistage approach which includes country identification, preliminary screening, in-depth screening and final selection. Develop several preliminary screening criteria for eliminating countries depending on different factors, for example, climate, if selling fur coats, or population size or average income, if selling mass market items. Other indicators include structure of consumption, inflation rate, GNP, etc. Please note that this is intended to provide the basis for market segmentation, targeting and your product/service sales strategy.
4 Target market and product/service sales strategy
Determine consumer segments to target and decide how to influence their buying cycle to develop sales. You need to clearly discuss your target market and potential product/service developments required for the new target market. The sales strategy must be justified with a discussion on how it will incorporate the social, cultural and service needs of the target market.
5 Targeting strategy
Determine the marketing communication / messaging strategy and how it will support the companies reach to the target market and attract them to the product/service.
Please take into consideration all mediums where the target audience resides (physically and or digitally) and do not simply recommend social media without justification.
6 Market entry and exit strategies
Determine an appropriate mode of entry. Possible options include export modes (agent, distributor), intermediate mode (licensing, franchising, joint venture, strategic alliance) or hierarchical modes (own subsidiary). You should note that there are different degrees of control, risk and flexibility associated with each market entry mode and exit strategy.
You should:
- provide a clear rationale for marketing a selected SME product/service in one international markets (excluding the UK and US market)
- set clear criteria for selecting a target market in chosen country
- develop a sales strategy in chosen target market
- determine appropriate market entry strategies
1 Select a company or a brand
First you may choose a company, a brand or a service offering on which to focus your efforts. You have a choice of Sandeman Events, The Berkeley Partnership LLP or Retrouvai.
2 The decision to internationalise
Should the company go international or not? What are the competencies of the firm and how should they be utilised internationally? You need to first define your chosen company’s objectives in regard to international markets, i.e. the degree of desired involvement, competitive advantage, positioning and overall orientation.
3 Deciding which market to enter
After selecting a company, you should develop a regional strategy by evaluating country attractiveness and market potential. You may consider the following regions: Latin America, the Middle East, South East Asia. Then select a regional market i.e. Brazil, Shanghai, or Dubai.
Please note that you are required to provide a clear rationale of the appropriateness of your chosen region, country market for your selected company. You should identify and assess the key factors for screening a regional market and a country.
You should decide which market to enter, along with the order and time of entry. You should collect relevant data to identify and evaluate the potential market opportunities. You need to be selective in your choice of indicators. In screening, you may wish to adopt a multistage approach which includes country identification, preliminary screening, in-depth screening and final selection. Develop several preliminary screening criteria for eliminating countries depending on different factors, for example, climate, if selling fur coats, or population size or average income, if selling mass market items. Other indicators include structure of consumption, inflation rate, GNP, etc. Please note that this is intended to provide the basis for market segmentation, targeting and your product/service sales strategy.
4 Target market and product/service sales strategy
Determine consumer segments to target and decide how to influence their buying cycle to develop sales. You need to clearly discuss your target market and potential product/service developments required for the new target market. The sales strategy must be justified with a discussion on how it will incorporate the social, cultural and service needs of the target market.
5 Targeting strategy
Determine the marketing communication / messaging strategy and how it will support the companies reach to the target market and attract them to the product/service.
Please take into consideration all mediums where the target audience resides (physically and or digitally) and do not simply recommend social media without justification.
6 Market entry and exit strategies
Determine an appropriate mode of entry. Possible options include export modes (agent, distributor), intermediate mode (licensing, franchising, joint venture, strategic alliance) or hierarchical modes (own subsidiary). You should note that there are different degrees of control, risk and flexibility associated with each market entry mode and exit strategy.