NTERNATIONAL MARKETING Market Entry Project This assignment is worth 30% of your final grade and is due the beginning of the class in WEEK 15.It can be done in groups of up to 3 people. Assume that you are a small Canadian producer of maple syrup and you are now considering expansion to the country you were assigned. THE PROJECT MUST FOLLOW THE PRESENTATION STRUCTURE AND GUIDELINES OUTLINED BELOW. 1 EXECUTIVE SUMMARY (no more than one page) 5% of total grade a) Include brief introductory comments, identifying the scope and purpose of your report. b) Present your key launch recommendations including a brief description of your Canadian product and why you think the product should be launched in the country. Remember to include your competitive advantage(s). PROPOSED MARKETING PLAN 2 Target market 20% of total grade Using the http://geert-hofstede.com/ website that was shown in a class, print the Country analysis for Canada and for the country that you were assigned, then prepare a 1-2 page summary of the significant differences that a Canadian Marketer may have to take into account in entering that Country. Include printouts of the Country analysis from geert as an appendix. In your summary include the following: a. Review Hofstede’s Culture Dimensions Analysis of your country’s culture and include a Cultural Dimensions chart contrasting your country with Canada. b. Describe your target customer using a persona format, their daily lives, the cultural norms of their society, and how your product fits with their daily lives. (Remember a target description includes a definition of the need/problem your Canadian product will address.) c. Include pictures of your target, where they live and who might be around when your product is being used. 3 Market Potential 10% of total grade a. Identify the penetrated market size for your type of Canadian product. b. Project the size of your penetrated market to 2019 c. Describe the driving forces (key factors) that you have used to create your market forecast i. Demographic ii. Economic iii. Sociocultural market trends iv. Retail and other industry factors v. Important political/legal issues d. Use charts and such to supplement your written arguments. 4 Product 10% of total grade a) Describe your product, its main benefit, how it solves the target customer’s problem, its advantage over alternate solutions or competition. (Remember that the product has three levels core actual and augmented, describe all three levels.) b) How it will be used? Are the user and purchaser the same? c) A picture, drawing showing where and how your product would be used would be helpful here. 5 Distribution 10% of total grade a) Where will customers purchase your product? What types of support (consider promotion, product presentation, product information) will you expect from the distribution channel? b) Is this level of support normal for your type of product in the country, if not, how will you ensure that this new level of support is delivered? c) Pictures showing examples of the type of distribution environment are required here. 6 Pricing 5% of total grade a) Recommend a pricing strategy that is in line with your product positioning, addresses the competitive situation and is appropriate for the target customer. 7 Promotion 10% of total grade a) Provide a product positioning statement and positioning map (include competitors on your map). b) Summarize your communications priorities and recommend effective media and promotion strategies based on your analysis of the target and country infrastructure. c) Provide specific examples (including pictures as available) of your key communication messages and promotions. d) Justify your media and message choices by relating the execution to the cultural section review above. 8 Market entry strategy 20% of total grade a) Briefly review the cultural norms and information from Hofstede as well as the infrastructure, political, economic, financial, and any legal issues in your country that will impact your marketing plan. Clearly identify the key country risks you need to address? (Using pictures and such will add meaning and bring a better understanding of the reality of the environment.) b) Identify the best way to enter your market. Consider the different market entry strategies presented in class and recommend an approach that best addresses the country risks you identified above, your product positioning and distribution needs of your consumer. c) How will you identify local retailers, distributors, agents? What value will you provide them to obtain their support for your launch? d) Where possible name likely partners and specific channel members you will be targeting to support your launch. EXHIBITS a) Include your completed scanning model, your market potential calculations, your positioning map, and examples of your promotion and communications concepts b) Identify your sources of information using the MLA approach recommended by Humber Library. Overall presentation, exhibits and strength of arguments 10% of total grade.