24 Jun vHIGHLIGHTS OF POTENTIAL MARKET CONDITIONS OF THE PET MARKETPLACE
TheDistinctive Doggie & Cattie Companyis a traditional manufacturer of dog and cat foods. After 10 years in the business, the president of the company wants to explore new international markets for a new product division Product Marketing Managers have been directed to individually develop new and innovative product(s) for the emerging market in a non-English speaking country. Individual Product Marketing Managers will develop a comprehensive international marketing plan based on his/her team’s product ideato be adaptive for an emerging international market. Each Product Marketing Manager will have a different non-English speaking country that has been self-selected for the focus of the international marketing plan.. The Product Marketing Manager with the most comprehensive and proÖtable international marketing to initially enter will receive a $25,000 bonus. INTERNATIONAL MARKETING PLAN 1. Title Page 2. Table of Contents 3. Executive Summary (1 p.): The Executive Summary is a synopsis of the Marketing Plan . Theexecutive summary provides a general overview of the entire marketing plan project including: • highlights of potential market conditions of the pet marketplace • product concept, pricing promotion and distribution • projected sales and proÖtability on entering the emerging non-English speaking market 4. Stage I –Product Conception/ Standardization or Adaptation (1p.): Based on your team’s group marketing product idea, write a detailproduct description of an innovative product conception standardized or adapted for entry for the non-English speaking country (1 page). 5. Stage II – Evaluate the International Environmental Forcesin relationship to your product (4-6 pp.): Evaluate the Marketing Environmental Model Forces as they are applied to theemerging international market of your choice for your product.Individual students willself-selected a non-English speaking foreign country which the student will develop marketing strategy of the group product concept. Research the following areas below and analyze the product potential for successful market entry. 1. Evaluate the Foreign Country’s Political & Legal Forces in relationship to your product. Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Political risk • Government Stability • Employment Laws • Trade Barriers & Restrictions • Business Regulations& Policies of Foreign Country’s Pet Industry • Commercial Law • Bureaucracy • Taxation Policies • Intellectual Property Protection • Bribery and Corruption • 2. Foreign Country’s Economic Forces Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Economic composition • GDP Trends & Growth • Interest Rates • Disposable Income • Credit Availability • Employment Cost • Economic Risk Factors • Transportation • Infrastructure Energy Costs &Infrastructure 3. Foreign Country’s Social & Cultural Forces Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Demographics • Income Distribution / Social Classes • Educational Levels • Religion • Language • Lifestyles • Consumerism • Workforce Mobility • Worker Rights & BeneÖts • Cultural Differences of Foreign Country to U.S.A. 4. Foreign Country’s Technological Forces Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Basic Infrastructure • Communications Infrastructure • Network Connectedness • R & D spending • Adoption Diffusion Patterns • Speed of Transfer • Rate Obsolescence 5. Foreign Country’s Environmental Forces Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Environmental Awareness & Sensitivity • Environmental Protection Regulations • Pollution Levels • Waste Management • Attitudes towards Green or Ecological Products • Presence of Environmental Groups 6. Foreign Country’sCompetitive Forces Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Pet Market – Market Size, MarketGrowth, Foreign Consumers Buying Behavior • Foreign Local & International Competitors of pet Products 7. Stage IV – SWOT Analysis (1 – 2pp.) Conduct an analysis to justify entry into the selected foreign country of the following areas below for the self-selected foreign country: • Strengths (Internal to the Doggie & Cattie Co • Weaknesses (Internal to the Doggie & Cattie Co.) • Opportunities (External to the Doggie & Cattie Co.) • Threats (External to the Doggie & Cattie Co.) 8. Stage V – Research Survey(1 – 2 pp.): Develop 20- 25 questions for your potential target audience utilizing Survey MonkeySoftware Platform. 9. Stage VI – International Marketing Mix (2 – 4 pp.): Incorporate your analysis from the political /legal, economic, social cultural, technological, environmentaland competitive in crafting the marketing mix strategy for entering the pet industry of the foreign country. Develop marketing objectives based Projected International Sales (Five Year Income Statement Projections: Projected Revenue – Projected Expenses = Projected ProÖts). • Target Market (Segmentation Strategy) • Product Strategy (Standardization or Adaptation) • Pricing Strategy • Distribution Strategy • Promotion Strategy 10. Conclusion & Recommendation to the President of the Doggie & Cattie Co. (1 p.) NOTE: The Final International Marketing Project Paper includes: The submission of a 10 – 15 pages individual paper (double spaced) integrating the all of the project stages (no page restriction); and develop Power Point slides of the marketing project for an individual class presentation of 10 – 15 min. All references from outside sources must use the APA In-Text Citation and Reference(s) format to document your evidence. The term project “International Marketing Plan Project” is valued at 20% of your grade.
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