GROUP PROJECT � INTERNATIONAL MARKETING PLAN Marketing Plan Overview

GROUP PROJECT – INTERNATIONAL MARKETING PLAN Marketing Plan Overview International Marketing Plan for You are an established cosmetic company in Mexico (of the group’s choice) that will launch your products in Pakistan in the upcoming year. The Project As a group you must examine the economic, political, and cultural fabric of a foreign country for one or more of your products and then conduct a market audit and a competitive market analysis for that product. The Country The profile should include the following: – – – – – Overview I. Cultural Analysis II. Macro Economic Analysis III. Micro Factors, Market Audit and Competitive Market Analysis IV. Preliminary Marketing Plan I Cultural Analysis 1) Introduction: Include short profiles of the company, the product to be exported, and the country with which you wish to trade Brief discussion of the country’s relevant history: History helps define a nation’s "mission,” how it perceives its neighbors, how it sees its place in the world, and how it sees itself. 2) I Cultural Analysis 3) Geographical setting: Geography is an element of the uncontrollable environment that confronts every marketer but which receives scant attention. It is more than memorizing countries, capitals and rivers. It is an understanding of how a country’s physical makeup affects its culture and economy. The important geographic characteristics the marketer needs to consider when assessing the country’s market potential is the focus of this section. I Cultural Analysis: Continued 4) The family, education, political structures, and media affect the ways people relate to one another, organize their activities to live in harmony with one another, teach acceptable behavior to succeeding generations, and govern themselves. Here you are looking for aspects of the social institutions that may impact your program. I Cultural Analysis: Continued A) B) Family: How is a family defined? Does it focus mostly on the nuclear family or is an extended family important in day to day living? How do family relations effect purchase decisions Education: Education affects all aspects of the culture, from economic development to consumer behavior. Marketing, from package design to advertising, is influenced by the level of education - The role of education in society Average education obtained, literacy rates C) Political Structure: Role of local government in trade and stability of government Cultural Analysis: Continued 5) Overview of consumers: Based on cultural norms, anticipate consumers acceptance to your product. Keep in mind: Attitudes and acceptance to change Language barriers Religious beliefs and barriers How does your product satisfy their needs and what is the best way to communicate this to them (not just channel but color, mood, tones) Understanding of subcultures, classes and casts Geographical barriers and living conditions Healthcare and nutrition Cultural Analysis  Overview of employees – – Discuss the landscape visa vi Porter’s Diamond of Competitive Advantage (if possible) Discuss the best ways to motivate and reward   Sells people Workers – Describe working conditions in terms of Hofstede’s Indexes II Macro Economic statistics and activity – – – – – – – – – – Gross national product (GNP or GDP)  Rate of growth (real GNP or GDP) Personal income per capita Average family income Distribution of wealth Infrastructure:  Communication (TV, Radio, Internet, Phone)  Transportation Principal industries Major exports and imports Dollar value I. Labor Force (Skilled vs UInskilled, size and unemployment, etc) Major markets III Micro Economic statistics and activity – Industry related: How will your company be effected by each of the following:          Embargoes Quotas Import taxes Licensing Customs duties Customary markup for goods in your industry Import vs. manufacturing in the market Warehousing Penetration of urban and rural markets III. Market Audit and Competitive Market Analysis     SWOT Analysis Porters Five Forces Your recommendation for an overall generic strategy Competitive analysis IV. Preliminary Marketing Plan      Provide a strategic plan for the following marketing elements Price Product Placement Promotions (Show four to six promotional examples)