Product and Distribution Strategies in the International Market

Product and Distribution Strategies in the International Market In SLP3, you need to compare the different foreign entry strategies and propose the best way to enter the foreign country you identified in SLP2. Each time you submit a new section of this international marketing plan, include the prior sections, revised in the light of feedback and any further research you have conducted, as necessary. Including them enables you to tell a coherent story. Thus it is a REQUIREMENT, that the prior sections, revised based on the feedback from your professor, are included with each new SLP section. Based on the specific situation of the product/brand you identified in SLP1 and the country analysis you conducted in SLP2, assess the opportunities and threats your business is facing if it decides to enter this foreign market. Then evaluate the different foreign entry strategies, and identify the best way for your business to enter the foreign country. Follow the instruction below to prepare for your SLP3. Section V: Opportunities and Threats You need to analyze the opportunities and threats that surfaced in your country analysis, especially those that could impact the introduction of your product/brand in the foreign country. Section VI: Foreign Market Entry Strategy Compare and contrast the different foreign market entry modes including the relative advantages and disadvantages of each strategy. Identify the best foreign entry mode for your product/brand and explain why this is the best way for your business to entry the foreign country. Be sure to consider the relative advantages and disadvantages of your product/ brand compared to the competing products/brands in the domestic market, as you conducted in SLP1, as well as the opportunities and threats presented by the foreign country, as you identified in the previous section. SLP Assignment Expectations Note that you should conduct thorough marketing research in order to identify the detailed information needed to complete this guideline. Refer to Module Background for secondary data sources you may use for your marketing research. Use proper citations and references to show the marketing research you have done for this section. Also note that this Session Long Project is cumulative. What you learned in later sections of the course will build on what has been learned earlier. So you should consider revising earlier sections of the SLP as you progress through the course. Thus for SLP3 the paper will consist of the sections you submitted for SLP1, plus those required for SLP2. In addition, your professor will review the preceding sections in the each following SLP when assigning the grade for the assignment. This practice would allow you to indicate how your learning from the project has improved both through your own thinking and via the feedback provided. Excluding your title page and the prior sections (which you are required to include) your paper for this SLP is to be approximately 3-4 pages long. Use double-spaced, black Verdana or Times Roman font in 12 pt. type size. Thus the entire marketing strategy when completed will be about 12-16 pages long, excluding title page, references and any appendices. Please check the outline for international marketing plan here for the details. Note that the letters A, B, C and D” above are used to show the major issues you need to include in your paper, but should not be used to format your paper. Use keywords bolded in the description as headings or subheadings. What you write should be organized, succinct, and professional. The following will be assessed in particular: Your demonstrated understanding of the concepts used in the project. Generally formal definitions are not required as understanding can usually be demonstrated by the way you apply or interpret the concepts. It is expected that you will select appropriate framework s for analysis from the Background materials and demonstrate your understanding of them through your application of them to the project You should conduct marketing analysis appropriate to the project. It is also expected that you will use information from the background readings as well as any good quality sources you can find to deepen your understanding of the project. Look at different sources, especially credible and reputable ones such as The New York Times, The Wall Street Journal, Businessweek, and The Economist, to find the information for your paper. Also use Trident #”s online library databases such as ProQuest and EBSCO, as well as IBISWorld to find information for your project. Your discussion on each topic should be a synthesis of the different sources. Taking shortcuts on the number and quality of your sources will result in a poor-quality marketing plan that will be of no use to your client. The criteria used for assessment will include the breadth and depth of your discussion, the critical thinking, the appropriate written communication skills and the proper use of citations and references. Module 3 – Background Product and Distribution Strategies in the International Market Required Reading Arora, R., & Sharma, R. (2012). Effective branding strategies of multinational corporations in international markets: The case of india. PRIMA, 3(1), 4-14. Cherunilam, F. (2010). Chapter 8: Market coverage strategies International Marketing: Text and Cases. Mumbai, IND: Himalaya Publishing House. ProQuest ebrary. Cherunilam, F. (2010). Chapter 9: International product decisions. International Marketing: Text and Cases. Mumbai, IND: Himalaya Publishing House. ProQuest ebrary. Cherunilam, F. (2010). Chapter 11: International distribution. International Marketing: Text and Cases. Mumbai, IND: Himalaya Publishing House. ProQuest ebrary. Marketing guide 26: International sales promotion. (1993, Jun 03). Marketing, 27. Shakeel-Ul-Rehman, & Ibrahim, M. S. (2011). Integrated Marketing Communication and Promotion. Researchers World,2(4), 187-191. Shukla, P., & Hogan, S. (2009). Martas precision slides: Branding in international markets. Marketing Intelligence & Planning,27(4), 539-548. Xie, Y. H. (2012). Foreign firms’ brand extenstions in a host market: Strategic factors in international branding strategy. Journal of Marketing Theory and Practice, 20(1), 105-118. Zaichkowsky, J. L. (2010). Strategies for distinctive brands. Journal of Brand Management, 17(8), 548-560. Ongoing Useful Resources for Cases, SLPs & Discussions Check the following websites to find information on countries, trade policies, organizations and industries: https://www.census.gov/foreign-trade/balance/. The U.S. Census Bureau provides a variety of international trade statistics. https://www.cia.gov/library/publications/the-world-factbook/. Find the CIA World Fact books here and pertinent trade information. https://www.cbp.gov/trade. The U.S. Customs and Border Protection provides information regarding international trade. www.exim.gov. The Export-Import Bank of the United States (Ex-Im Bank) provides information related to trade financing services provided by the U.S. government. https://www.imf.org/external/index.htm. The International Monetary Fund (IMF) provides information about the IMF and international banking and finance. www.oecd.org. The Organization of Economic Cooperation and Development (OECD) provides information regarding OECD policies and associated data for its member countries. www.euromonitor.com. Euromonitor provide in-depth strategic analysis and statistics on national markets in 80 countries world-wide, including data and analysis of market size, distribution channel analysis, market trends, competitive landscape, legislation, local company profiles, company and brand shares. https://www.worldchambers.com/. The World Chambers Network (WCN) is the official chamber” portal dedicated to electronic international trade. Its Chamber Directory is the only official database of more than 12,000 chambers of commerce and boards of trade all around the world. https://www.wtca.org/. The World Trade Centers Association stimulates trade and investment opportunities for commercial property developers, economic development agencies, and international businesses looking to connect globally and prosper locally. https://en.unesco.org/countries. UNESCO is the United Nation”s Educational, Scientific, and Cultural Organization. It provides profile information on its member countries. https://www.wto.org/. The World Trade Organization’s official web site offers up-to-date information on the international trade, its rules, the news and events. https://trade.gov/. The International Trade Organization promotes trade and investment and ensures fair trade. It has three business units: the Global Markets, the Industry and Analysis, and the Enforcement and Compliance. https://www.naftanow.org/default_en.asp. The North American Free Trade Agreement (NAFTA) promotes the free trade zones and economic growth for Canada, the United States, and Mexico. https://www.apec.org/. Asia-Pacific Economic Cooperation (APEC) was formed in 1989 and APEC has become the primary regional vehicle for promoting open trade and practical economic cooperation. This site is a major source of information about APEC and its member countries. https://europa.eu/index_en.htm. The official website of the European Union provides information on its member countries, EU laws, business trades and official EU statistics. https://lanic.utexas.edu/. This website, run by the # of Texas, provides an extensive number of sources for information on Latin American countries. https://globaledge.msu.edu/. The globalEDGE provides tools and resources to efficiently research nearly any international business question by trade bloc, by country, by state, and by industry. https://johnson.library.cornell.edu/node/304#InternationalTradeLibrary. This website offers extensive business, economic, and trade information databases in the world, including economic indicators, foreign trade, market and country research, and international trade library. Accessing Materials in the Trident # Online Library Unless otherwise specified with a link to the website (URL specified) or link to the file, the students need to find the readings through Trident online library databases. The instructions on how to locate the articles in the designated databases are available at https://support.trident.edu/student/library.html Please use your own words and ideas. Copying (“cutting and pasting”) and close paraphrasing are not appropriate. See the # Catalog and Student Policy Handbook on Academic Integrity” (https://www.trident.edu/catalog-handbook) and the Student Guide to Writing a High-Quality Academic Paper for a discussion of plagiarism. You cannot get credit for a paper that includes *any* component of plagiarism. Refer to following guidelines for handling quoted and paraphrased material: Purdue Online Writing Lab. (n.d.). Academic Writing. Retrieved from https://owl.english.purdue.edu/owl/section/1/2/ Purdue Online Writing Lab. (n.d.). Quoting, Paraphrasing, and Summarizing. Retrieved from https://owl.english.purdue.edu/owl/resource/563/1/ Purdue Online Writing Lab. (n.d.). Avoiding Plagiarism. Retrieved from https://owl.english.purdue.edu/owl/resource/589/1/ Feedback from instructor: Please note the following requirements for this research project in Module 1 SLP and Module 2 SLP: If you want to focus on a multinational corporation, you should identify a foreign country that the company has not entered. Also note that this Session Long Project is cumulative. What you learned in later sections of the course will build on what has been learned earlier. So you should consider revising earlier sections of the SLP as you progress through the course. Thus for SLP2 the paper will consist of the sections you submitted for SLP1, plus those required for SLP2. I will upload SLP 1 and SLP 2. The Company is Coca-Cola and the market country is Cuba. This paper is to be completed in U.S. dollars, measurements, etc.