A company is in the stage of marketing the product to a developing country. Any one of these (India, China, Malaysia, Philipines, Sirilanka). A leading product of the company has been selected. A marketing consultant is considered by the company to help them select a developing country that may have a need for the product chosen. As the marketing consultant, enlighten the company to prepare an analysis of the product’s potential in the selected market. Use the following outline as a guide in their analysis.
Describe the general nature, description, uses, benefits, cost and other characteristics of the product selected.
Include current stage in product life cycle, and technological considerations.
Describe the prospective consumers of the product.
Discuss whether the selected market will apply standardisation or adaptation.
(Which Product, Which Country, Why) / (PLC) / (Sequentation)
2. Market analysis
a. Research the internal and external environments of the country that you have selected. (macro environment analysis)
Identification and critical evaluation of the major environmental influences.
b. Identification and discussion of At least (3) modes of entry to be used in the international marketing arena and their impact to the success in relation to marketing the product. (Mode of Entry)
Describe how the product will get from producer to end user.
Consider any barriers to trade/market your product and discuss how they are to be addressed.
Describe what marketing strategy adjustments should be made.
Identify and evaluate the degree of possible specific sources of risk the company would be exposed to in the exportation of the selected product and suggest possible ways to minimize these risks if not totally eliminating them.
c. Competitors analysis on their strengths and weaknesses. (Competitive Analysis)
d. Identification and discussion two (2) target market strategies in developing a marketing plan. (Cost Leadership / Differentiation)
e. Identification and evaluation of the degree of risk involved.
Suggestion of the ways to minimize if not eliminating the risk identified.
Summary of discussion and recommendations.
*** In-text Citation and References Using Harvard Style.
*** Total Word Count = 2500 Words Only.