1.0 Introduction to report
2.0 Summaries from assignment 2
3.0 Screening of market selection
3.1. The five stages of overseas market selection process- A screening approach & new millennium catering
3.1.1. Reason to choose your country
A mission statement plus specific financial and market share objectives must be included in the Objectives section, and must be measurable over time. All objectives for your plan need to be SMART (Specific, Measurable, Attainable, Relevant and Timely). Please read your notes, or refer to a text book for information.
4.0 Alternative market entry strategies as a new company
You need to go through the various strategies as shown in last week’s lecture. Please read the information and make sure you show that you understand it. Put it in a table and discuss
This is the section in the Report that will clearly demonstrate your knowledge of theory and concepts and ability to apply them in an international business context.
You should complete a brief but effective evaluation of alternative strategies open to the company in the following areas:
• Market entry options (if it is a new company or product)
• Target market selection, positioning and marketing mix options
• Generic strategic options for targeted segments
An evaluation of all realistic market entry options is required (typically at least three, including your preferred option). These options should be discussed, covering advantages and disadvantages, how they might work and reasons for adopting or discarding each one, within the context of your company and the chosen market.
4.1. Alternative target market selection, positioning
Having weighed up and evaluated all the realistic market entry options, it is now necessary to identify several potential market segments (target markets) in the chosen country and consider how they might be serviced with appropriate marketing mix strategies. This does not require a lot of detail, but you must show your understanding of the concepts involved and your ability to think through and express marketing strategy options.
You should reduce the options down to a number that would be realistically implementable by your firm. As a guide you should consider at least or two or three alternative target markets (including your preferred option).
In examining these alternative strategies, you must:
1. Identify potential target market segments in the chosen market
2. Outline possible positioning strategies for each of these target markets, and link them to brief alternative marketing mix strategies.
3. Indicate your preferred strategy, and why.
4.2. Market selection process– Segmentation and targeting through alternative entry modes in to the country of your choice STP – was in your marketing lectures and the book that I gave you. I would expect a short discussion on this
4.2.1. Target market selection process through alternative entry modes to country of choice Please see information contained in the book
4.3. Outline possible positioning for each of target markets in manufacturing based entry mode
4.4. Alternative generic strategies
This should be an analysis of the most effective generic strategies (cost, focus,
differentiation see Michael Porter) for the targeted market, and an explanation of how this fits with corporate-level strategies.
This section should NOT be merely a write-up of the company’s preferred strategy without reference to alternative strategies
5. Recommendations for preferred strategy for Country
5.1. Market entry mode
5.2. Target market
5.3. Positioning strategy
5.4. Generic strategy
In about one half to one page (maximum) you should now ‘pull together’ and write up a summary of your recommended strategy (i.e. market entry, target market, positioning and marketing mix) for the chosen market.
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