15 May WHAT DIRECT AND INDIRECT COMPETITORS CURRENTLY SATISFY THE NEEDS OF YOUR PROPOSED TARGETS?
Students are required to select a product/service from Europe or from one of the countries, from which the group members are nationals. They then have to analyse the market conditions of the domestic market, those of possible countries to enter, and prepare a marketing plan for the launch of the product in a new market.
This assignment is designed to assess students’ use of appropriate framework tools and concepts in order to critically evaluate some of the key strategic marketing issues international organisations face.
The assignment also aims to assess students’ research and analytical abilities and level and quality of idea generation.
Criteria for choice of product/service:
The company which markets the Product/Service of choice should not be too small (difficult to find info) or with lots of international activity such as Apple, Coca Cola or L’Oreal (nothing to add to what they already do).
Large or medium size public companies with little or no international activity are the best option for this assignment.
The company has to operate in a market where students can find information about market size, growth rate, consumption habits, competitive analysis, advertising expenditure. Accordingly the launch country should be one for which students can find similar information.
Further Assumptions for choice of company:
Brand awareness in launch country is 0
Not a monopolistic situation in launch country
Students are required to prepare a report that considers the following areas:
1. What is the justification for the company to expand in the country of choice? Use macro and micro criteria to screen the countries considering entering, demonstrating the screening process and criteria and support country of choice logically and concisely. Indicate entry mode: 5 points
Students have to show their ability to use the proper situational analysis tools (external analysis: Pestel, Porter 5 forces and internal analysis tools) and relevant theory, in order to justify their answers.
For example key motives for expansion could be one or more of the following:
Proactive motives: profit and growth goals, managerial urge, product uniqueness, foreig market opportunities, economies of scale, tax benefits
Reactive motives: competitive pressures, small saturated domestic market, proximity to international customers (psychological/geographical)
Make sure you justify your answers using valid and accurate facts from credible resources.
2. Develop a detailed marketing plan following the below specified outline:
OUTLINE AND ASSESSMENT CRITERIA FOR THE MARKETING PLAN
2.1 The product Idea
Brief description of the new product idea, the value proposition and the positioning statement.
Justification of the choice of the specific product based on factual information.
2.2 Market analysis
Indicate who constitutes your overall market and the segment you initially target.
Indicate the size and anticipated growth rate of that market.
Identify relevant trends in the macro environment that affect your product.
Identify the wants and needs your product serves. What benefits you offer, and which product features will deliver them.
2.3 Competitor assessment
Define the industry in which you compete.
Assess the industry’s five competitive forces.
Identify critical success factors.
What direct and indirect competitors currently satisfy the needs of your proposed targets?
What competitive advantages and disadvantages will specific competitors have? Will you have?
What competitive responses to your entry are likely?
2.1,2.2,2.3: 10 points
2.4 Marketing strategy 15 points
What are your marketing objectives?
How will your offering be positioned?
Product decisions: features, augmented product, brand (make sure to have descriptions for all elements of the product like packaging, logo, brand name, quality level, country of origin where applicable etc.)
Pricing decisions: pricing strategy, pricing specifics, relative price positioning.
Promotional strategy: Integrated marketing communications objectives and plan, copy platform, media plan, consumer promotion plan.
3. Marking criteria for presentation of the report, structure, references of the assignment
Referencing, structure and general presentation of report 5 points
(this includes formatting, coherence, clarity, spelling and grammar)
CW1 ELEMENT 1: Total Marks 35/50
CW1 Element 1: Group presentation 5/50 points
Assessment criteria for presentation:
Students have to prepare a clear, interesting, presentation on the group report and be prepared to answer questions. Presentations will take place on week 15.
Marketing criteria:
Clarity/Use of theory to support arguments
Idea generation/Structure
Professionalism in presenting (all group members should present) in a timely manner making sure that slides are clear, readable, interesting.
Timely (25 minutes)
Successfully conveying the key concepts of the project and properly addressing all questions raised in the brief.
CW1 Element 2 Peer assessment: 10/50 to be handed in in hard copy during the day of the group presentation.
Individual contribution as assessed by peers:
Peer Assessment as per the relevant form to be found below
Peer assessment is anonymous and grade will be calculated based on the average mark
PEER EVALUATION FORM
Note: Only the instructor will view these peer evaluations.
1. Please list the names of your group members in the spaces below. Do NOT INCLUDE YOURSELF.
Group Members’ Names:
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