Project 2 – International Marketing – Spring 2014
Introduction:
Project 2 continues from the point where Project 1 ended. Project 2 is intended to give a firsthand experience of developing a market entry and a product launch strategy for an international
market.
Selecting a product:
The main focus of Project 2 is to launch a real consumer product in the sector/industry that was
researched and identified in Project 1.
When selecting your product consider the following two factors:
1. The product should have obvious social, cultural and economic dimensions to provide a
strong customer base for potential success in the new market.
2. Preferably (but not necessary)you should have some experience and knowledge of the
product.
The examples of products that can be launched are:
– National food cuisines (such as Arabic Foods)
– Traditional and religious clothing (such as designer Abayas)
– Cultural toys (such as wooden toys from East Europe)
– Islamic banking services
The above list is just a suggestion. You can choose any product that you feel comfortable with
and in your opinion (backed up with relevant information) has a market. Your chosen product
must be a real product.
Proposed Project Framework:
i.
Introduction – Briefly describe the chosen product and the organization that
produces or manufactures it.
ii.
Target market and positioning – Define your target customers (in terms of
demographics such as age, income, gender etc.) and the positioning (in relation to
the existing products and the competition) of your product.
iii.
Marketing Mix
Product Decisions
-Describe your product in terms of attributes and benefits that it will provide to the
potential customers. Especially how will your product be better than the existing
competition. So describe the benefits that the product will provide rather than just
outlining the list of features.
-How would you fit your product within the selected international market. Would you
sell the product as it is (i.e. product extension strategy), Would you make some
changes to the existing product to localize it (i.e. product adaptation strategy) or
would you invent a new product for the market (i.e. product innovation strategy). You
must justify your strategic approach.
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-Sales expectation (Forecast with appropriate justification, approximate sales in the
first and second year).
Pricing decisions
-Your pricing strategy (not just the price tag but the pricing strategy which you will
follow to make a successful product launch and grow the customer base)
-Outline the influences (especially negative influences) which may affect your pricing
strategy
Channels of distribution
-Which channels would you utilize to distribute your product in the selected market
-Which channel members (e.g. retailers, wholesalers, distributors, franchisors etc)
would you involve in the distribution of your product. Outline your distribution
channel.
Promotion
-Your Integrated Marketing Communications Strategy (i.e. which type of medium or
media would you utilize to promote the product; would you follow a single medium or
a multi-media strategy; explain your rationale for following a single medium or a
multi-media promotional strategy)
-What will be your key advertising message
-Outline the promotional budget for the first two years (be realistic!)
Conclusions
-Your main/key reasons for choosing the product and the international market
-What are the chances of the selected product for being successful in the targeted
market (give reasons to justify your claim)
The above mentioned list of contents is an expectation and will form the grading criteria.
However if you feel you have other relevant information to include please do so. Projects will be
evaluated for their content, clarity, structure and logical presentation. The maximum length of
the assignment should NOT exceed 3000 words (excluding appendices and references).
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