International Business – Final Analysis and Conclusion
Final Course Project – 120 points
The objective of this project is to create a marketing and business plan to export a product or service into to a new international market. Students will work in groups of four for this assignment. Each group will select a Business, Company, Brand, Product, and Retailer that has been successful in their home market and potentially other countries and select a new International market where they are not currently sold. The group must do the research to be certain that the product does not already operate, is distributed, sold or available in that country.
The project begins with a complete background of the Company/Brand in their home market plus the strategy and support for how the product or brand translates to the new market. The project focuses on expanding a known brand or business, not beginning a new enterprise. The Business, brand can be from any country, but the new international market must be outside the USA.
The Course written project must be professionally presented, typewritten, well written and spellchecked! The intent is not simply to collect facts, but to learn about a new country and apply what you discover to the successful plan for expanding the business. The project should be creative, visual, detailed, including all the key information necessary to invest in this new market. The Project is NOT only a collection of cut and pasted paragraphs, facts or charts found in general, encyclopedic sources. All charts pulled from sources must include your analysis, demonstrating your understanding on how the data supports your venture. This is a comprehensive report, including a wide range of current and historical information about the country, industry, business environment, competition and customer and how it impacts the success or presents challenges to your new international projects.
PowerPoint is required for the oral presentation. The presentation is an opportunity for the team to show great visual images of a new global market and demonstrate their knowledge and excitement about the new business and country. All team members must participate in the final presentation.
This is a research project. Your assignment is to thoroughly research the new international market including the country cultural, economic and political environment and the financial impact from currency exchange, taxes, quotas or any other barriers to entry. Learn more about the marketing and competitive environment, product, pricing, attitudes and laws about customer service, promotion, advertising…Identify local competition plus the global companies already in the market. Your goal is to provide relevant, current, detailed information about your new global market that supports your future success and provides insights to potential risks. You must use a minimum of ten sources.
Key Sources for country information include: www.worldbank.org; www.imf.org; www.cia.org; www.export.gov; www.doingbusiness.org; x-rates.com; transparency.org; worldwide-tax.com; oecd.org; Economist Magazine; WWD; Wall Street Journal; Financial Times plus major newspapers (Lexis Nexis and Proquest); business magazines (Ebsco); country websites, embassies, trade and commerce groups, travel and tourism information plus other resources available on Student Portal. A complete bibliography listing all of your sources in the proper format as described by FIDM RC handout in required. Additional sources will be reviewed in class.
The project is divided in sections to be submitted for review and feedback during the quarter. All team members need to contribute to all three sections of the project.
Part 1 is due Week 3 – Introduction and Overview of Project (10 pts)
Part 2 is due Week 5 – Country Analysis (15 pts)
Part 3 is due Week 8 – Market Analysis (15 Pts)
Title Page: Company, product or brand name; target country or market and Student team names.
Introduction and Overview of the project – Part 1
Description of Business (company), Brand, product or Service
Description of Home and other International Markets: successes, strategies, challenges
New International Market – describe the new international market (overview of country), new business opportunity focusing on the reasons for expanding to this country
Country Analysis – Part 2
Brief history including a map with the location and its major cities
Population – plus analysis of your target market
Major Industries, imports and exports
Key Regional and world organizations and important global trade relationships
Summary of the country legal, economic and political systems
Country Currency, exchange rate strengths, risks, volatility…impact on business
GDP/GNP, Gross National Income, wages, Cost of Living – growth, challenges?
Your customer’s wages, wealth, income, buying power of new target market
Economic Health – Trade Balance of Payments, national debt, trading relationships
Quotas, Tariffs, Taxes plus all other costs of doing business and/or barriers to market entry
Legal and Political Analysis
News, attitudes, priorities of the current Government and Political System
Stability and recent changes in the Political, legal and business environment
Current Policies, attitudes and role of government in local and global business
Legal environment including liability, patent/trademark/copyright, business ownership, etc
Foreign Investment environment including Political attitudes, legal ownership, regulations Corruption, Economic and Political Freedom indexes, Ease of Doing Business
Population and key demographics – specifics, detail about your target market
Language and Education; Family; Health; Social Habits
Minority/Majority Religions and their role in society
Social and cultural attitudes, beliefs and values
All Cultural issues and attitudes that impact the success of the project or business
Market Analysis – Part 3
Product/Services/Retail – proposed plans for new international market
Strategy, Plans to adapt the global brand and product/services to the new local market
Description – including product, services, retail environment, packaging, quality
Brand Positioning including the visual description and image
Target Customer – describe the life, income, spending habits of your new customer
Local and Global Pricing strategy; Promotion strategy
Intellectual property protections and product liability issues
Overall competitive situation, overview of industry, products in the new market
Competitors both local and global companies, products, retailers, buying patterns
Competitive advantage, appeal of your company in new market
Local Market environment for promotions, advertising, service, and retail
Marketing and Promotion
Advertising, Media. Internet, Mobile strategies
Promotion strategies including price discounts, packaging, sampling, etc.
Public relations, special events, sponsorships, endorsements
Retail environment or direct to consumer strategies and communications
International Trade Shows and other trade communication
Foreign Market Entry Strategy
Exporting, Licensing, contract manufacturing, Franchising, FDI, partnerships, etc
Distribution strategy – branded retail, local retailers, distributors, online, direct to consumer
Size of Market Entry – number of stores, products, market share goals
Product Sourcing and Transportation strategy
Organization and staffing strategies – include changes, need to adapt for new market