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global marketing (1100)
Gwinnett Technical College
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Full Semester Research Assignment and Activity: GLOBAL MARKETING PLAN
This is a full semester cultural and marketing plan project. Students should choose a country and a product / service to market in the targeted country and devise a cultural analysis and marketing plan for the chosen country.
For example, students can choose to market a mobile phone from the United States into a foreign country or can choose to market a mobile phone into the United States that is not currently available here.
Cultural Analysis: The data suggested in the cultural analysis includes information that helps the marketer make market-planning decisions. However, its application extends beyond product and market analysis to being an important source of information for someone interested in understanding business customs and other important cultural features of the country. This cultural analysis is composed of two parts: information on the cultural makeup of the country and the economic analysis of the country. The information in this analysis must be more than a collection of facts. In preparing this material, you should attempt to interpret the meaning of cultural information. With that said, your country analysis should contain at least one paragraph on each of the following areas:
PART I: Introduction to the Culture of the Country
I. Include short profiles of the company, the product to be exported and the country with which you wish to trade.
II. Brief discussion of the country’s relevant history
III. Geographical setting- The country I am picking will be Nigeria. In this project I want to sell Aloe Vera plants to Nigeria for the skin conditions that they have out there. Some skin disorders they have infections, scabies, and atopic dermamitis. Aloe Vera has been known to help get rid of burns, scars, infections, provides vitamin A, C, and also works as a anti-inlammatory. a) location b) climate c) topography
IV. Social institutions a) Family i) The nuclear family ii) The extended family iii) Dynamics of the family (1) Parental roles (2) Marriage and courtship
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b) Education i) The role of education in society (1) Primary education (quality, levels of development, etc) (2) Secondary education (quality, levels of development, etc.) (3) Higher education (quality, levels of development, etc.) ii) Literacy rates
c) Political System i) Political structure ii) Political Parties iii) Stability of government iv) Special taxes v) Role of local government
d) Legal System i) Organization of the judiciary system ii) Code, common, socialist, or Islamic-law country? iii) Participation in patents, trademarks and other conventions
e) Organizations i) Group behavior ii) Social classes iii) Clubs, other organizations iv) Race, ethnicity and subcultures
f) Business customs and practices
V. Religion and aesthetics a) Religion and other belief systems i) Orthodox doctrines and structures ii) Relationship with the people iii) Which religions are prominent? iv) Membership of each religion v) Any powerful or influential cults?
b) Aesthetics i) Visual arts (fine arts, plastics, graphics, public arts, colors etc.) ii) Music iii) Drama, ballet, and other performing arts iv) Folklore and relevant symbols
VI. Living conditions a) Diet and nutrition i) Meat and vegetable consumption rates ii) Typical meals
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PART II: The Economic Analysis of the Country
The reader may find the data collected for the economics analysis guideline are more straightforward than for the cultural analysis guideline. There are two broad categories of information in this guideline: general economic data that serve as a basis for an evaluation of the economic soundness of a country and information on channels of distribution and media availability. As mentioned earlier, the guideline focuses only on broad categories of data and must be adapted to the particular company and its product needs. With that said, write at least one (1) paragraph for each of these sections.
Guideline
I. Introduction II. Population a) Total i) Growth rates ii) Number of live births iii) Birth rates b) Distribution of population i) Age ii) Sex iii) Geographic areas (urban suburban, and rural density and concentration) iv) Migration rates and patterns v) Ethnic groups
III. Economic statistics and activity c) Gross national product (GNP or GDP) 1. Total 2. Rate of growth (Real GNP or GDP) a. Personal income per capita b. Average family income d) Distribution of wealth i) Income classes ii) Proportion of the population in each class iii) Is the distribution distorted? e) Minerals and resources f) Surface transportation i) Mode ii) Availability iii) Usage rates iv) Ports. g) Communication systems i) Types ii) Availability
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iii) Usage rates h) Working conditions i) Employer-Employee relations ii) Employee participation iii) Salaries and benefits i) Principal industries i) What proportion of the GNP does each industry contribute? ii) Ratio of private to publicly owned industries j) Foreign Investment i) Opportunities? ii) Which industries? k) International trade statistics i) Major exports (1) Dollar value (2) Trends ii) Major imports (1) Dollar value (2) Trends iii) Balance-of-payments situation (1) Surplus or deficit? (2) Recent trends iv) Exchange rates (1) Single or multiple exchange rates? (2) Current rate of exchange (3) Trends l) Trade restrictions i) Embargoes ii) Quotas iii) Import taxes iv) Tariffs v) Licensing vi) Customs duties m) Extent of economic activity not included in cash income activities i) Counter trades (1) Products generally offered for counter trading (2) Types of counter trades requested (i. barter, counter purchase, etc.) (3) Foreign aid received n) Labor force i) Size ii) Unemployment rates
o) Inflation rates
IV. Developments in science and technology a) Current technology available (computers, machinery, tools etc.)
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THE MARKETING PLAN
Market-oriented firms build strategic market plans around company objectives, markets and the competitive environment. Planning for marketing can be complicated even for one country, but when a company is doing business internationally, the problems are multiplied. Company objectives may vary from market to market and from time to time; the structure of international markets also changes periodically and from country to country; and the competitive, governmental, and economic parameters affecting market planning are in a constant state of flux. These variations require international marketing executives to be specially flexible and creative in their approach to strategic marketing planning.
PART III: Market Audit and Competitive Market Analysis
Of the guidelines presented, this is the most product or brand specific. Information in the other guidelines is general in nature, focusing on product categories, whereas data in this guideline are brand specific and are used to determine competitive market conditions and market potential.
Two different components of the planning process are reflected in this guideline. Information in Parts I and II, Cultural Analysis and Economic Analysis, serve as the basis for an evaluation of the product or brand in a specific country market.
Information in this guideline provides an estimate of market potential and an evaluation of the strengths and weaknesses of competitive marketing efforts. The data generated in this step are used to determine the extent of adaptation of the company’s marketing mix necessary for successful market entry and to develop the final step, the action plan.
The detailed information needed to complete this guideline is not necessarily available without conducting a thorough marketing research investigation. Thus another purpose of this part of the country notebook is to identify the correct questions to ask in a formal market study.
Write at least one (1) paragraph on each in each of these areas.
I. Introduction
II. The Product A. Evaluate the product as an innovation as it is perceive by the intended market.
- Relative advantage
- Compatibility
- Complexity
- Trialability
- Observability B Major problems and resistance to product acceptance based on the preceding evaluation
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III. The Market A. Describe the market(s) in which the product is to be sold 1. Geographical region(s) 2. Forms of transportation and communication available in that (those) region(s) 3. Consumer buying habits a. Product-use patterns b. Product feature preferences c. Shopping habits 4. Distribution of the product a. typical retail outlets b. Product sales by other middlemen 5. Advertising and promotion a. Advertising media usually used to reach your target market(s) b. Sales promotions customarily used (sampling, coupons, etc.) 6. Pricing strategy a. Customary markup b. Types of discounts available B. Compare and contrast your product and the competition’s product(s). 1. Competitor’s product(s) a. Brand name b. Features c. Package 2. Competitor’s prices 3. Competitor’s promotion and advertising methods 4. Competitor’s distribution channels
C. Market size 1. Estimated industry sales for the planning year 2. Estimated sales for your company for the planning Year D. Government participation in the marketplace 1. Agencies that can help you. 2. Regulations you must follow
IV. Executive Summary Based on your analysis of the market, briefly summarize (two-page maximum) the major problems and opportunities requiring attention in your marketing mix, and place the summary at the front of the report
V. Sources of information
VI. Appendixes
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Course: global marketing (1100)
University: Gwinnett Technical College
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