international marketing

  • The assignment involves the development of an international market selection and entry strategy and plan for a UK based company, Lovely Drinks (https://www.lovelydrinks.co.uk/)
  • Your role is to act as a marketing consultant.
  • Identify and select one new export market for the company.
  • You will not have to explain the concepts in detail – you should focus on their application.
  • Business-to-consumer (B2C) marketing.
  • Deadline: 29th March 2021.
  1. To initially research and assess four potential export markets and then select one key country/market to target first, giving the rationale for your choice. This rationale should be based on the analysis of as much relevant research information as possible. This chosen market then becomes the focus for the rest of your report.
  2. After you have selected the one market you should include an external audit (analysis of the macroenvironment and microenvironment), SWOT analysis, target market and positioning.
  3. To consider and recommend the most appropriate market entry mode for your chosen market, giving your reasons

Assignment – Choice of export market

Your chosen export market/country can be anywhere in the world but not the UK, or your home country (if you are an international student) or any other market/country where the company is currently operating. Base your choice of market on the research applied to the country analysis and screening of the four countries. You do not necessarily select the export market that is potentially the largest for the company but must consider a range of market selection criteria from your screening method.

Lovely Drinks company sells different types of soft drinks such as:

  • Juice
  • Carbonated drinks (tonic water, cola, lemonade)

Focus on one type of soft drink

 

Recommended textbooks

Chapter 1         Part 6

It includes Figure 1.2   It includes a guide for                               Key book to develop      Export strategy, export entry modes

on the development of developing a    marketing plans (but an international    marketing plan does not consider the

marketing plan          international dimension)

 

Chapter 18 explains the marketing process (but does not consider the international dimension). If you have not studied marketing before, this books is also

If you have not studied marketing before, this books is also recommended for the fundamentals of marketing

 

recommended for the fundamentals

Assignment – Structure & weights

  • Title page/Cover page

35%• Introduction

  • International country selection
  • External audit (environment analysis)
  • Microenvironment

30%

  • Macroenvironment
  • SWOT analysis

10%• Target market & positioning

15%• Entry mode strategy

  • References
  • Appendix

10% Presentation, structure, writing style and referencing

  • You are expected to use numerous data sources in compiling your assignment such as government (UK Department for International Trade) and non-government sources (UN, EU, IMF, World Bank, WTO, OECD, GlobalEDGE, etc.), internal company records, trade statistics, embassy resources, country-specific internet sites, etc. See tables in the next slides.
  • Databases you can use for the assignment: Passport, Statista, Mintel.
SITE ADDRESS DESCRIPTION
UK Department for International Trade https://www.gov.uk/government/organisations/dep artmentforinternationaltrade

https://www.gov.uk/government/collections/overse asbusinessrisk

UK data and resources to support international business
European Union – Eurostat https://ec.europa.eu/eurostat/home? Data on economy and finance, population and social conditions, industry, trade and services, etc.
European Commission https://ec.europa.eu/growth/sectors/tourism/busine

ssportal/internationalisationtourismbusinesses/internationalmarketselection_en

 
International Monetary Fund (IMF) www.imf.org Data and statistics on countries and economic and financial

indicators

World Trade Organization (WTO) www.wto.org Statistics on tariffs, government intervention, and economic conditions worldwide
Organization for Economic and Cooperation (OECD) https://data.oecd.org/ More than 200 indicators from ICT, finance, society and pollution.
Institute of Export https://www.export.org.uk/  
Open to Export https://opentoexport.com/  
The Economist – Intelligence Unit http://country.eiu.com/AllCountries.aspx?view=all  

Sources of information

 

Sources of information

SITE ADDRESS DESCRIPTION
Global EDGE https://globaledge.msu.edu/ Data, information, search engines, and diagnostic tools on a full range of International business topics
United Nations Conference on Trade and Development (UNCTAD) www.unctad.org Country fact sheets and statistics

for analysis of international trade, FDI, and economic trends

World Bank https://www.worldbank.org/ National and international statistics, financial and technical

information, sectoral data, trends in the world economy

World Bank Doing Business www.doingbusiness.org Reports on doing business in various countries
A. T. Kearney www.atkearney.com Various indices, including the

Foreign Direct Investment

Confidence Index

International Trade Centre www.intracen.org Development agency dedicated to supporting the internationalization of small and medium-sized

enterprises (SMEs). Data and statistics trade, tariffs,

regulation, trainings, connecting value chains and others

British Chambers of Commerce https://www.britishchambers.org.uk

/

 

Introduction

  • Analysis of the company and the product (sales/international sales, market share, profit margins, competitive advantages, etc.).
  • Clearly indicate the non-alcoholic drink you focus on.

International country selection

  • Detail on the criteria used to choose four countries you have shortlisted for screening and the method and rationale you have used to select one country.
  • Use of weighting/screening tables

 

External audit

The

microenvironment

consists of the actors

in the firm’s

immediate environment that affect its capabilities to operate effectively in its chosen markets

Source: Fahy and Jobber (2019, p. 32)

The macroenvironment consists of a number of broad environmental forces that affect not only the company performance but also other actors and are largely uncontrollable.

 

External audit: Micro Environment

The microenvironment consists of the actors in the firm’s immediate environment that affect its capabilities to operate effectively in its chosen markets

Microenvironment Forces Key topics/Trends
Market (soft drinks market, specifically the market of the category you selected in your selected country) Market definition, market size, market/sales trends, growth rates, current trends and developments
Customers

(customers of your selected category in the selected country)

Who they are, their choice criteria, how, when and where they buy; how they rate the competition on product, promotion, price and distribution; how consumers group, and what benefits each group seeks
Competitors (in the selected country) Who the major competitors (actual and potential) are; their objectives and strategies; strengths (distinctive competences) and weaknesses (vulnerability analysis); size, market share and profitability; entry barriers to new competitors

Use the library databases to analyse the micro environment: Passport, Statista, Mintel

Source: Jobber and Ellis-Chadwick (2020, p. 602)

External audit: Macro Environment (PESTLE)

The macroenvironment consists of a number of broad environmental forces that affect not only the company performance but also other actors and are largely uncontrollable.

Macroenvironm ental Forces Key topics/Trends
Political Governmental changes; political instability
Economic Economic growth; unemployment; inflation; interest and exchange rates; global economic trends
Social/cultural Changes in world population, age distribution and household structure; attitudes, values, and lifestyle changes; subcultures within and across national boundaries; consumerism
Technological Innovations; communications; technology infrastructures; biotechnology
Legal EU and national laws; codes of practice
Ecological/phy sical environmental Global warming; pollution; energy and other scarce resources; environmentally friendly ingredients and components; recycling and non-wasteful packaging

Video on PESTLE analysis: https://www.youtube.com/watch?v=sP2sDw5waEU

Source: Jobber and Ellis-Chadwick (2020, p. 602)

External audit: Macro Environment (PESTLE)

PESTLE: Identify relevant macroenvironmental forces and discuss     their implications

MISTAKES

Environmental issues that are not relevant.

Political and legal section that does not pay attention to trade barriers, and legal issues that can have an impact on packaging/labelling decisions, media selection, etc.

Reference to trade agreements that are not applicable to the selected market.

SWOT Analysis

  • SWOT analysis is used to evaluate the strategic position of a business by identifying its strengths, weaknesses, opportunities and threats.
  • Prepare it once you have the data from the internal and the external audits.
  • Use the internal audit to identify strengths (S) and weaknesses (W). S&W refer to internal factors, internal capabilities (controllable)
To be avoided or managed
  • Use the external audit to identify opportunities (O) and threats (T). O&T refer to external factors (uncontrollable).
 

Internal
 

Strengths   Weaknesses
 

External
 

Opportunities
 

Threats

To be built upon

SWOT Analysis

Video on SWOT analysis: https://www.youtube.com/watch?v=7JmDXDZYx0s

 

Target market & positioning

TARGET MARKET

  • Clear definition of your target market. Justification of target market.
  • A target market consists of a set of buyers sharing common needs or characteristics that you decide to serve.

POSITIONING

  • Position the market offering in the minds of target consumers.
  • Arranging for a market offering to occupy a clear, distinctive and desirable place relative to competing products in the minds of consumers.
  • Develop a positioning statement

MISTAKES – TARGET MARKET

The target market is not clearly defined.

The assignment requests to you to focus on a consumer product (A consumer product is “a product bought by final consumers for personal consumption” (Kotler et al., 2020, p.668)) thus, rather than targeting business customers (e.g. luxury hotels and restaurants), final consumers should be targeted.

Selection of and rationale for the chosen mode of entry into the country you selected to target and how this entry mode should be pursued.

 

Writing your assignment

  • Structure your assignment. It is essential to make have a strong and coherent structure. Use numbered headings to break your report into discrete sections. Adding subtitles (if appropriate) will make the report more structured and easy to read and comprehend.
  • You should try to avoid lengthy descriptions and lengthy paragraphs.
  • You will not need to apply all concepts – carefully select the ones that you feel are most appropriate with respect to your plan. You will not have to explain the concepts in detail – you should focus on their application.
  • All tables and figures should be labelled and numbered. The source(s) of the table/figure needs to be cited. All tables should be editable.
  • Harvard Referencing System → Cite them right online https://www.citethemrightonline.com/
  • Avoid using the first person (I, we).
  • The first time you use an acronym (e.g. NPD), put the acronym in parentheses after the full term (e.g. new product development (NPD)). Thereafter you can stick to using the acronym.

Grade Descriptor

Grade Descriptor

 

Any Questions