PM305 International Marketing Spring 2017 Coursework Brief SUBJECT TO EXTERNAL EXAMINER APPROVAL This assessment has gone through the internal scrutiny process and is currently being reviewed by the external examiner. You will receive further communication from the Module Leader once approved. In the meantime, you are required to commence work on this assessment so that you can complete it within the given timeframe. Please contact your Tutor for any questions relating to this assessment. Handout: [FEB. 2017] Deadline for Submission: [Wednesday, 26-Apr-2017 by 2pm] Submit this coursework through the Student Portal with a Turn-it-in Report Word Limit: 2,500 (excludes appendices) words(Plus or minus 10%) Learning outcomes assessed: 1. Identify the principal managerial issues and policies necessary for success in international marketing. 2. Examine and evaluate methods of identifying and qualifying market potential in different parts of the world. 3. Illustrate the nature of overseas distribution systems (including agents and joint- ventures) and demonstrate the marketing implications of differences in culture in consumer behaviour. This coursework is worth 50 % of the total marks for this module. Coursework Instructions Please read carefully • Carefully read the module handbook, the marking criteria and the grade descriptors. • The briefing paper should be submitted on the Student Portal along with a Turnitin Report • Carefully read the case study and the assignment questions before answering the questions. Academic Misconduct You are responsible for ensuring you understand the policy and regulations about academic misconduct. You must: • Complete this work alone except where required or allowed by this assignment briefing paper and ensure it has not been written or composed by or with the assistance of any other person. • Make sure all sentences or passages quoted from other people’s work in this assignment (with or without trivial changes) are in quotation marks, and are specifically acknowledged by reference to the author, work and page.   Blank   Assignment Questions Background Instructions : • All learning outcomes will be assessed. This summative assessment represents 50% of total module marks. • Carefully read the case study and the assignment questions before answering the questions. You need to undertake additional environmental and academic research beyond this case study. • The report should be submitted on the Student Portal along with a Turnitin Report A case of Toys “R” Us, Inc. looking to international Market [1] Toys “R” Us, Inc. was founded in 1948 and is based in Wayne, New Jersey. Toys “R” Us, Inc., together with its subsidiaries, operates as a retailer of toys and baby products. It operates through two segments, Domestic and International. The company offers products for newborns and children up to four years of age. It also provides educational electronics and developmental toys consisting of Imaginarium products in the United States and World of Imagination products internationally; and construction toys, games, creative activities, and pre-school merchandise. In addition, the company offers seasonal products, including toys and other products for holidays and summer activities, as well as bikes, sporting goods, play sets, and other outdoor products. Sales and Marketing The toy retailer utilizes a variety of marketing and advertising channels to reach its target audiences. Its mass marketing programs include email marketing, national television and radio spots, direct mail, targeted magazine advertisements, catalogues and ads in national or local newspapers. Other strategies include targeted door-to-door distribution, direct mailings to loyalty program members, and in-store marketing. “What differentiates Toys”R”Us as a specialty toy retailer is the memorable shopping experience we provide for our customers,” said Andre Javes, managing director, – Greater China and Southeast Asia. He added. “This includes a combination of the widest assortment of toys and baby products, including exclusive items not available anywhere else in the market, fun store layouts, interactive in-store experiences, product displays and demonstrations, activities and more.” As of January 30, 2016, it operated a total of 1871 stores; 361 traditional toy stores, 224 baby stores, 213 SBS stores, and 68 Permanent Express stores, as well as Temporary Express locations in the United States; and 756 operated and 252 licensed stores in 38 countries and jurisdictions worldwide. It generated 62% of its total sales from its US stores during FY2016, another 10% from Europe, and 10% from Japan. The company's other major markets are in Canada (7% of sales), the UK (6%), China and Southeast Asia (3%), and Australia (2%). The retailer's revenue tumbled 5% to $11.8 billion in fiscal 2016 (ended January 30, 2016), mostly because of unfavourable foreign exchange rates tied to the stronger US dollar. Excluding foreign currency impacts, however, net sales increased slightly thanks to new International store openings and comparable International store sales growth of 3.2%, driven by higher baby gear/apparel and construction toy sales. Toys "R" Us has experienced declining sales despite its being the only truly global toy store chain and a strong brand name. It has suffered from declining demand in most mature markets as population ages and birth rate fall. Furthermore, new competition has arisen with pure players and grocery retailers expanding their range of toys and baby products. The company had faced huge competition from specialist toys stores and retail superstores like Tesco, Walmart (Asda) etc in its major international operations. Strategy To turn around its situation and set the company up for long-term profitability, the retailer in 2016 reiterated its customer convenience-oriented strategy to integrate both its online and brick-and-mortar offerings by utilizing its "In-Store Pick Up," "Ship from Store," and "Ship to Store" fulfilment channels. Since then company has introduced its ‘TRU Transformation’ strategy. A new service model will also be introduced into Babies R Us stores to help first-time parents have a better shopping experience, along with expanded parenting classes. In addition, mobile devices will be rolled out to store associates, in recognition of the growing importance of this channel. Toys R Us is putting more emphasis on becoming a customer-centric company, giving the retailer a competitive advantage over big-box discounters such as Walmart, Tesco, Target and Amazon. Toys R Us will take customer insight into consideration to make the in-store and online services an exceptional experience for multichannel shoppers. Future International Strategic focus The toy retailer also continues to expand its stores globally as the US market continues to mature, opening its 100th store in China in January 2016.In terms of international growth, Emerging markets, Southeast Asia and China remain the key areas of focus. "International growth remains an important area of investment for the company and we continue to see significant opportunities for expansion, said Antonio Urcelay, Chairman of the Board and CEO, Toys"R"Us, Inc. Expansion into international markets is crucial for Toys"R"Us, However, the questions are how and where? The company is exploring its options to expand into ONE of four major markets, namely India, Sri Lanka, Nigeria and Russia. Sources used : [1]http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=190358 [1] http://www.vault.com/company-profiles/retail/toys-r-us,-inc/company-overview.aspx [1] https://www.retail-week.com/topics/international/international-news-analysis-toys-r-us-unveils-turnaround-strategy/5073429.article Consultancy brief : Hired as an international marketing consultant, you have been asked by Toys"R"Us, to carry out a thorough analysis of the market and recommend one international growth market for it to enter in year 2019. You should analyse the global market, recommend a target market/country, decide a mode of entry and develop appropriate international marketing strategy. You should analyse the global market, recommend a target market/country, decide a suitable mode of entry and develop appropriate international marketing mix strategy. You should prepare a report for the board of directors addressing your consultancy brief, this should answer the following questions. Assignment Questions Quetion1: Analyse the macro and competitive factors that impact global Toys’ Industry. [LO1, LO2] Question 2: Analyse internal business environment of Toys"R"Us using Porter’s Value Chain. [LO1, LO2] Note: questions 1 and 2 require you to research and analyse: • Global macro-Toys industry • Global Competitive factors -Toys industry • Internal business environment of Toys"R"Us • SWOT • Summary of findings Question 3 : Evaluate the potential target markets of India, Sri Lanka, Nigeria and Russia using the 12 Cs framework and then select ONE of the target markets and justify choice. [LO2, LO1] Note: Question 3 requires you to evaluate market attractiveness of the 4 potential markets (India, Sri Lanka, Nigeria and Russia), using 12Cs framework, compare the market attractiveness, and decide ONE country / market to target. Question 4. Recommend to Toys"R"Us an appropriate mode of entering the chosen country and justify your choice based on your analysis and theory. [LO3, LO1] Task 5: Analyse the targeted country’s socio-cultural factors. Develop appropriate marketing mix for Toys"R"Us to succeed in your selected target market. You must link your proposed marketing mix to the company’s SWOT and external cultural factors and Justify your answer. [LO3, LO1] Your main report should have well developed arguments, properly underpinned with theory and facts along with critical analysis, synthesis, evaluation and suitable recommendations. The purpose of appendices is to support the report. Your grade is highly dependent on your main report. Additional analysis should be developed and placed in the appendix of your report, with summaries of analysis in the main body of the report cross-referencing to the appendix. Additional information will be available on the portal to support your research but you will need to conduct your own research into macro and micro factors using the online library. Please see below for grading criteria. Marks will be distributed as indicated in the assessment criteria. To understand the requirements for each grade level please see next pages. End of Assignment Brief   Marking Criteria Specific Marking Criteria Assessment criteria Pitch Explanatory comments on the assessment criteria Maximum marks for each section The student’s work should: Knowledge and Understanding • Systematically identify, explain and apply relevant concepts, with understanding of the assignment questions, and provide content related to learning outcomes. • Evidence in-depth knowledge and understanding of the main concepts and key theories / principal methods of identifying and qualifying market potential, and factors of success in international market with cultural differences and other factors (i.e. macro, micro, internal and SWOT, 12Cs framework analysis). • Undertake current research and apply main IM concepts, theories and principal methods of qualifying a potential international market, critical success factors for international market, mode of entry (such as macro, micro, value chain, and SWOT, 12Cs framework analysis), and international marketing programme (segment and marketing mix) . 35 % Cognitive/ Intellectual Skills (e.g. analysis and synthesis; logic and argument; analytical reflection; organisation and communication of ideas and evidence) • Critically analyse external global environment • Critically analyse organisational internal environment • Analyse and identify an appropriate international target market. • Critically analyse and synthesise key principles, concepts, theories, and frameworks of success at international market and marketing. Apply concepts and models of international marketing to the given context. • Well developed, perceptive, coherent arguments • Recommend and justify choice of a target market based on environmental analysis. • Recommend and justify suitable mode of market entry to gain overseas distribution, based on environmental analysis. • Recommend appropriate adaptations to marketing mix in line with differences in socio-culture or other factors and other environmental analysis. • Research beyond the key reading appropriate for the subject • Thoroughly logical work, supported by judiciously selected and evaluated evidences. • Investigate contradictory information and identify reasons for contradictions. Thus, producing highly persuasive conclusions. • Use of appendix for detailed analysis and cross referencing to appendix evidenced throughout work 40% Graduate Skills for Life and Employment (e.g. research- related skills; written, graphical and oral communication skills; group working; problem-solving; practical and professional skills) • Demonstrate ability to evaluate a range of research informed literature relevant to IM theory and concepts, • Use appropriate academic conventions (e.g. referencing, summaries, paraphrasing etc.) • Demonstrate research-related skills (evidenced by collection and interpretation of external and internal business environmental data to support findings) • Written and graphical skills should evidence student’s ability to communicate professionally and confidently in a range of formats, at a high standard appropriate for graduate-level employment. • Demonstrate problem-solving (the strategy and recommendation based on the analysis). Thus, evidencing ability in identifying solving a range of complex problems with divergent solution. • Demonstrate reflective ability to evaluate own strengths and weaknesses, showing attributes for graduate-level employment. • Demonstrate practical and professional skills (work has right level of detail/ complexity) 25% Total 100 GSM LONDON GENERIC ASSESSMENT MARKING CRITERIA LEVEL 6 KNOWLEDGE & UNDERSTANDING INTELLECTUAL & COGNITIVE SKILLS Graduate Skills: transferable, employability, practical and academic skills Factual and conceptual knowledge and understanding; use of class materials; independent reading Critical thinking; conceptualisation; creativity; synthesis, analysis and evaluation; application; problem solving and research/investigation Written, oral and presentation skills; interpersonal, group and teamwork skills; leadership skills; numeracy; digital skills; practical, professional and academic skills (including referencing/presentation MARKING BAND CLASSIFICATION WEIGHTED AT 35% WEIGHTED AT 40% WEIGHTED AT 25% 86 - 100% FIRST (1ST) Includes all required factual content, accurately and succinctly summarised. Well developed, persuasive, highly relevant, reasoned introduction and conclusions, demonstrating originality. Within word count or presentation time. Includes relevant factual content only. Clearly and logically structured material, showing excellent understanding of the discipline. Accurate spelling, grammar, punctuation, paragraphing. Systematic, accurate identification of relevant concepts, theories and/or principles. Information or data selected from a broad range of highly relevant, current primary and secondary sources, and categorised, analysed or evaluated using relevant, self-determined methods or techniques. Eloquent, professional writing style, appropriate to the assignment OR professional, engaging, confident, audible and well paced presentation. Sophisticated use of technical vocabulary, where appropriate. Exceptional, in-depth understanding of factual and conceptual material, including understanding of the limits to knowledge in this area. Well developed, perceptive, coherent arguments, systematically referencing primary and secondary literature, including competing perspectives, with clear rationale for choices. Professional, creative visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are accurate, clearly set out, with excellent, precise explanations. Exceptional integration of theory and practice, using appropriate conceptual frameworks. Correct and systematic use of academic conventions, references and bibliography. Independent, wide-ranging, highly relevant reading and research, from authoritative primary and secondary sources. Exceptional application of numerical and statistical methods to defined complex problems. Exceptional, consistent, flexible delivery of group work obligations. Proactive leadership, accepts responsibility and ameliorates conflict. Undertakes complex tasks. Substantiated, highly relevant recommendations generating novel solutions. Excellent awareness of ethical issues. Exceptional, well articulated reflection on own strengths and weaknesses in relation to defined professional and practical skills. Identifies and follows up required actions. 70 - 85% FIRST (1ST) Includes all required factual content, accurately and succinctly summarised. Well developed, relevant, reasoned introduction and conclusions, demonstrating some originality. Within word count or presentation time. Includes relevant factual content only. Clearly and logically structured material, showing excellent understanding of the discipline. Accurate spelling, grammar, punctuation, paragraphing. Systematic, accurate identification of relevant concepts, theories and/or principles. Information or data selected from a good range of relevant, current primary and secondary sources, and categorised, analysed or evaluated using relevant, self-determined methods or techniques. Fluent, professional writing style, appropriate to the assignment OR professional, engaging, audible and well paced presentation. Excellent use of technical vocabulary, where appropriate. Excellent, in-depth understanding of factual and conceptual material, including understanding of the limits of knowledge in this area. Well developed, coherent arguments, systematically referencing primary and secondary literature, including competing perspectives, with clear rationale for choices. Professional, creative visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are accurate, clearly set out, with excellent explanations. Excellent integration of theory and practice, using appropriate conceptual frameworks. Correct and systematic use of academic conventions, references and bibliography. Independent, wide-ranging, relevant reading and research, from authoritative primary and secondary sources. Excellent application of numerical and statistical methods to defined complex problems. Excellent, consistent, flexible delivery of group work obligations. Proactive leadership, accepts responsibility and ameliorates conflict. Undertakes complex tasks. Substantiated relevant recommendations generating novel solutions. Very good awareness of ethical issues. Excellent, well articulated reflection on own strengths and weaknesses in relation to defined professional and practical skills. Identifies and follows up required actions. 60 - 69% UPPER SECOND (2:1) Includes most required factual content, mostly accurately and succinctly summarised. Relevant and valid introduction and conclusions. Within word count or presentation time. Includes relevant factual content only. Clearly structured material, with some gaps in logic, but showing good understanding of the discipline. Mostly accurate spelling, grammar, punctuation, paragraphing. Mostly systematic and accurate identification of relevant concepts, theories and/or principles. Information or data selected from mainly relevant primary and secondary sources, and categorised, analysed or evaluated using relevant methods or techniques but with minor gaps or misunderstandings. Mainly fluent, professional writing style, appropriate to the assignment OR mainly professional, engaging, audible and well paced presentation. Good use of technical vocabulary, where appropriate. Very good understanding of factual and conceptual material, showing some appreciation of the limits of knowledge in this area. Mostly coherent arguments, with some perceptive points, mostly systematically referencing well selected primary and secondary literature. Mostly professional, creative visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are mainly accurate, clearly set out, with good explanations. Good integration of theory and practice, using appropriate conceptual frameworks. Mostly correct use of academic conventions, references and bibliography. Independent reading and research from a range of mostly authoritative primary and secondary sources. Mainly good application of numerical and statistical methods to defined complex problems, with some gaps, errors or misunderstandings. Consistent delivery of group work obligations. Some leadership and ability to accept responsibility and modify responses. Undertakes non-routine tasks. Some relevant recommendations generating some novel solutions. Satisfactory awareness of ethical issues, where relevant. Clear reflection on own strengths and weaknesses in relation to defined professional and practical skills. Partial identification of required actions. 50 - 59% LOWER SECOND (2:2) Includes most required factual content, but with some gaps or misunderstandings. Satisfactory introduction and conclusions. Within 10% of word count or presentation time. Includes some irrelevant factual content. Mostly clearly structured material, with some gaps in logic, demonstrates an understanding of the discipline. Some mistakes in spelling, grammar, punctuation, paragraphing. Adequate identification of relevant concepts, theories and/or principles. Information or data selected from mainly secondary sources, and categorised, analysed or evaluated using mostly relevant methods or techniques but with gaps or misunderstandings. Writing style is appropriate but not always fluent or professional OR a presentation that is not always professional, engaging, audible or well paced. Some use of technical vocabulary, where appropriate. Satisfactory understanding of factual and conceptual material, but not in-depth. Limited appreciation of the limits of knowledge in this area. Satisfactory arguments, referencing mostly secondary literature and including some personal opinion Appropriate visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations may have some inaccuracies, or issues relating to set out and explanation. An adequate attempt to relate theory to practice, using appropriate conceptual frameworks. Inconsistent use of academic conventions, references and bibliography. Adequate independent reading and research from mostly secondary sources. Adequate application of numerical and statistical methods to defined complex problems, with some gaps or errors. Inconsistent delivery of group work obligations. Some awareness of responsibility and options. Undertakes mostly routine tasks. Basic recommendations, which do not generate novel solutions. Satisfactory awareness of ethical issues, where relevant. Some evaluation of own strengths and weaknesses in relation to defined professional and practical skills. Limited identification of required actions. 40 - 49% THIRD (3RD) Includes limited required factual content, with many gaps or inaccuracies. Basic introduction and conclusions. Within 10% of word count or presentation time. Includes considerable irrelevant factual content. Unevenly structured material, with many gaps in logic and limited understanding of the discipline. Frequent mistakes in spelling, grammar, punctuation, paragraphing. Some identification of relevant concepts, theories and/or principles. Information or data selected from secondary sources, and poorly categorised, analysed or evaluated using inappropriate methods or techniques. Awkward or inappropriate writing style OR a presentation that is not engaging, audible or well paced. Little use of technical vocabulary, where appropriate. Basic understanding of factual and conceptual material. Minimal appreciation of the limits of knowledge in this area. Sense of emerging argument, but mainly descriptive or personal opinion, with limited and superficial reference to literature. Negligible use of primary literature. Inappropriate visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are often inaccurate, with many issues relating to set out and explanation. Limited attempt to relate theory to practice, using appropriate conceptual frameworks. Inconsistent or incomplete use of academic conventions, references and bibliography. Basic independent reading and research from secondary sources. Weak application of numerical and statistical methods to defined complex problems, with many gaps or errors. Unreliable delivery of group work obligations. Limited awareness of options. Undertakes only routine tasks. Confused recommendations. Little awareness of ethical issues, where relevant. Limited reflection on own strengths and weaknesses in relation to defined professional and practical skills. 30 - 39% FAIL. POSSIBLE COMPENSATION. Includes insufficient required factual content, with significant gaps or inaccuracies. Mostly incoherent or irrelevant introduction and conclusions. More than 10% outside word count or presentation time. Includes substantial irrelevant factual content. Incoherently structured material. Serious mistakes in spelling, grammar, punctuation, paragraphing. Limited identification of relevant concepts, theories and/or principles. Limited selection of information or data, and little attempt at collation, categorisation, analysis or evaluation. Poor writing style OR a presentation that is not engaging, audible or well paced. Does not use technical vocabulary, where appropriate. Limited understanding of factual and conceptual material. No appreciation of the limits of knowledge in this area. Little or no argument, entirely descriptive or personal opinion, with no reference to literature. Poor visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are mostly inaccurate, or incorrectly set out or explained. Very weak attempt to relate theory to practice, using appropriate conceptual frameworks. Inaccurate or incomplete use of academic conventions, references and bibliography. Minimal independent reading and research. Very weak application of numerical and statistical methods to defined complex problems, with significant errors. Poor delivery of group work obligations. No awareness of options. Undertakes a few routine tasks. Irrelevant or no recommendations. Little or no awareness of ethical issues, where relevant. Very limited reflection on own strengths and weaknesses in relation to defined professional and practical skills. 16 - 29% FAIL. NO COMPENSATION. Includes almost no required factual content, and with very significant inaccuracies. Incoherent or no introduction and conclusions. More than 10% outside word count or presentation time. Includes mainly irrelevant factual content. Very incoherently structured material. Serious and extensive mistakes in spelling, grammar, punctuation, paragraphing. Minimal or inaccurate identification of relevant concepts, theories and/or principles. No evidence of the selection, categorisation, analysis or evaluation of information or data. Incoherent writing style OR an inaudible, poorly paced and unengaging presentation. Does not use technical vocabulary, where appropriate. Limited understanding of factual and conceptual material. No appreciation of the limits of knowledge in this area. No argument, entirely descriptive or personal opinion, with no reference to literature. Very poor visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are inaccurate, with no explanations. Theory not related to practice. Very inaccurate or no use of academic conventions, references and bibliography. No independent reading and research. Minimal application of numerical and statistical methods and techniques to defined complex problems, with significant errors. Very poor delivery of group work obligations. Does not undertake even routine tasks. No recommendations. No awareness of ethical issues, where relevant. Minimal or no evaluation of own strengths and weaknesses in relation to defined professional and practical skills. 0 - 15% FAIL. NO COMPENSATION. Does not include required factual content. No introduction and conclusions. More than 10% outside word count or presentation time. Includes entirely irrelevant factual content. Very incoherently structured material. Serious and extensive mistakes in spelling, grammar, punctuation, paragraphing. No identification of relevant concepts, theories and/or principles. No evidence of the selection, categorisation, analysis or evaluation of information or data. Incoherent writing style OR an inaudible, poorly paced and unengaging presentation. Does not use technical vocabulary, where appropriate. No understanding of factual and conceptual material. No appreciation of the limits of knowledge in this area. No argument, entirely personal opinion, with no reference to literature. Exceptionally poor visual presentation, including font, spacing, margins, headings, graphics, images and appendices. Calculations are missing, with no explanations. Theory not related to practice. No use of academic conventions, references and bibliography. No independent reading and research. No application of numerical and statistical methods to defined complex problems. No delivery of group work obligations. No recommendations. No awareness of ethical issues, where relevant. No evaluation of own strengths and weaknesses in relation to defined professional and practical skills.