INTERNATIONAL MARKETING PLAN
MODEL FORMAT 2024
TABLE OF CONTENTS
EXECUTIVE SUMMARY
1.0 INTRODUCTION
2.0 RESEARCH METHODOLGY
3.0 SITUATION ANALYSIS
3.1 Company Analysis
3.2 Market Analysis
3.3 Competitor Analysis
3.4 Customer Analysis
3.5 Environmental Analysis
3.6 SWOT Analysis
4.0 OBJECTIVES
4.1 Organisation Mission and Corporate Strategy
4.2 Company Product\/Market Objectives
5.0 RECOMMENDED MARKETING STRATEGY
5.1 Market Entry Strategy
5.2 Target Market and Positioning Strategy
5.3 Marketing Mix Strategy:
5.3.1. Product\/Service
5.3.2. Place (Distribution)
5.3.3. Price
5.3.4. Promotion
6.0 IMPLEMENTATION AND CONTROL
6.1 Action Plan for Implementation of Recommendations
7.0 CONCLUSION
BIBLIOGRAPHY
APPENDICES <\/p>\n
INTERNATIONAL MARKETING PLAN
TABLE OF CONTENTS
EXECUTIVE SUMMARY
The Executive Summary is a critical element of any Marketing Plan as it may be the only section of your plan that a busy senior manager from your company may have time to read before you present it, in a work context. The Executive Summary must include a summary of Marketing Plan including key recommendations.
1.0 INTRODUCTION
The Introduction sets the scene for the whole plan. It establishes what is being marketed, who is doing it, where they are doing it, when they are doing it, why they are doing it and how long the plan will be. As with the whole of the report, the wording should be clear and direct. The Introduction provides a solid beginning for the rest of the report by clearly saying what the report is about.
2.0 RESEARCH METHODOLGY
You must provide details of the type of methodology you employed for this report. Ideally, you should conduct extensive secondary research and then obtain further , more tailored\/specific information from primary sources. The primary data can be analyzed using either quantitative or qualitative methodology or a combination of both.
Full details of your methodology should be provided in an appendix (e.g. Summary Table of Interviews, which will describe part of your methodology in terms of respondents
3.0 SITUATION ANALYSIS
A Situation Analysis briefly reviews the success or otherwise of the firm\u2019s current marketing mix, and presents an analysis of the various internal and external factors which will influence how the firm will undertake its plan. It concludes with a SWOT analysis which proposes possibilities and opportunities that the firm should consider. This is particularly important when planning to enter a new international marketplace. Discovering what is happening in the Situation Analysis will help you in establishing your objectives and recommended marketing strategy.
INTERNAL FACTORS
3.1 Company Analysis
Take time to think about the following and how theses company factors will influence your proposed plan.
\u2022 Assessment of a firm\u2019s resources (financial, people organisational, culture, and so on).
\u2022 Review of a firm\u2019s current international marketing mix, experience in international markets, technical\/production capabilities, and so on.
\u2022 Assessment of the image of the firm or brand: How is your firm and\/or brand perceived in the marketplace (friendly\/good-value\/cheap)? What is its market share?
\u2022 Assessment of relative strengths and weaknesses. This should be assessed for each of the elements within the internal analysis and transferred to the SWOT table (3.6) below.
EXTERNAL FACTORS
3.2 Market Analysis
In this section you need to demonstrate an understanding of the target country\/city market. As a guide, you should at least discuss: a definition of the market in which you will be competing; market size and outlook for the product\/service in the target country market (ie current size of market and likely future trends; and market characteristics.
3.3 Competitor Analysis
Who are your competitors? Are there direct and indirect competitors? Are they aggressive competitors? What activities do they undertake?
3.4 Customer Analysis
Who are your customers? What are the primary cultural traits? Who makes the decision to buy? When do they purchase? What factors influence their purchase? Are they satisfied customers? Do they make repeat purchases?
3.5 Environmental Analysis
The \u2018marketing environment\u2019(PESTEL) refers to various factors which are uncontrollable to the manager and can affect how marketing activities are undertaken. Clearly, this is extremely important for the international marketplace. This includes demographic, economic, technological, natural, cultural, and legal\/political factors. How can each of these affect your new plan? A Risk Analysis can be useful here for the identification of issues that need to be brought to the attention of Management.
SWOT
3.6 SWOT Analysis
You will need to complete a Strengths and Weaknesses analysis of the company (in comparison to competitors or its ability to compete), and a separate analysis of Opportunities and Threats in the marketplace. This analysis should be a culmination of the analysis you have undertaken in the earlier sections of the Situation Analysis. This table needs to be analysed so that a conclusion\/implications can be made about the current situation.
4.0 OBJECTIVES
4.1 Organisation Mission and Corporate Strategy
4.2 Company Product\/Market Objectives
Begin with a mission statement plus a statement on what is the organisation\u2019s strategy for international markets. Clearly state the objectives for the market and specifically the product for the planning period. These must be measurable over time, and should relate to financial and communication objectives. These objectives will give direction and focus for the whole plan.
5.0 RECOMMENDED MARKETING STRATEGY
The Recommended Marketing Strategy should flow directly from the SWOT Analysis and objectives that are established earlier. Considerable detail will be required here – this is the 'engine room' of the international marketing plan – the 'what, how, when, where and how much' section.
Market Entry strategy explained and justified, Target Market(s) should be clearly identified and described, and Positioning Strategy clearly expressed and explained. The Marketing Mix Strategy should include sufficient detail to enable robust economic evaluations to be made. As a guide, the following information should be clearly presented and strongly supported and justified:
\u2022 Identification and description of the full range of products or services being launched, product benefits, description of packaging, comparisons with competitors
\u2022 Pricing strategy (price is the only revenue-generating element of the marketing mix) clearly showing domestic prices and international pricing, and comparisons with competitors
\u2022 Specific channel choices, channel management strategies, and
\u2022 Communication strategy, media selection and strategy, other promotion activities, and costs.
5.1 Market Entry Strategy
This is the section in the Final Report that will clearly demonstrate your team's knowledge of marketing concepts and ability to apply them in an international marketing context. You must complete a brief but effective evaluation of alternative marketing strategies open to the company in the following areas:
\u2022 Market entry options
\u2022 Target market selection, positioning and marketing mix options
i. Alternative Market Entry Strategies
An evaluation of all realistic market entry options is required (typically at least three, including your preferred option). These options should be discussed, covering advantages and disadvantages, how they might work and reasons for adopting or discarding each one, within the context of your company and the chosen export country market.
ii. Alternative Target Market, Positioning and Marketing Mix Strategies
Having weighed up and evaluated all the realistic market entry options, it is now necessary to identify several potential market segments (target markets) in the chosen country\/city and consider how they might be serviced with appropriate marketing mix strategies. This does not require a lot of detail, but you must show your team's understanding of the concepts involved and your ability to think through and express marketing strategy options.
You should reduce the options down to the one that would be realistically implementable by your firm. As a guide you should consider at least or two or three alternative target markets (including your preferred option). In examining these alternative strategies, you must:
1. Identify potential target market segments in the chosen country\/city
2. Outline possible positioning strategies for each of these target markets, and link them to brief alternative marketing mix strategies, covering product, price, distribution and promotion
3. Indicate your preferred strategy, and why.
This section should NOT be merely a write-up of the company's preferred marketing strategy without reference to alternative marketing strategies.
iii. Preferred Strategy
In about one half to one page (maximum) you should now 'pull together' and write up a summary of your recommended marketing strategy (ie market entry, target market, positioning and marketing mix) for the chosen country. This summary will be the 'springboard' for writing the details in the Target Market & Positioning and Marketing Mix Strategy sections of your Final Report.
5.2 Target Market and Positioning Strategy
5.3 Marketing Mix Strategy:
5.3.1. Product\/Service
Make sure that product strategies support the company\u2019s overall strategy.
\u2022 Modify existing product(s) – (what features and benefits will your
\u2022 products provide?)
\u2022 Develop new product(s)
\u2022 Add or drop products from the line
\u2022 Determine product positioning
\u2022 Develop branding approach
\u2022 Register product designs, brand name, trademarks, etc.
\u2022 Tailor product packaging and labeling to the market
5.3.2. Place (Distribution)
A number of distribution options are likely to be available to your company. You will need to assess the distribution (and production) options in accordance with the opportunities available and the resources of the company. These may include:
\u2022 Direct export of branded products
\u2022 Indirect export of branded products
\u2022 Joint venture with a local partner with a shared market development responsibility, and possibly a shared manufacturing responsibility
\u2022 License technology to a company already established in the market (Manufacturing Under License, or MUL)
\u2022 Establish market franchises
\u2022 Purchase or establish your own means of distribution in the targeted country
You must decide whether you are going to use single or multiple channels.
5.3.3. Price
A number of issues are important in pricing products for overseas markets:
\u2022 How will product price be determined (demand-based or cost-plus, marginal costing or full costing)
\u2022 Price level compared to competitors (premium, parity or discount)
\u2022 Price variation (geographic margins, discount structure)
\u2022 Margins that will be offered to local partners such as agents, distributors, etc.
\u2022 Penetration pricing, market skimming etc.
\u2022 Terms of sale (CIF, FOB etc.)
\u2022 Terms of payment (cash in advance, letter of credit, etc.)
5.3.4. Promotion
In order to promote your products and your company you must consider a number of major issues:
\u2022 Overall communication message that is suited to the local culture
\u2022 -Pull- or -Push- approach
\u2022 Type of promotion (personal selling, point-of-sale promotions, direct mail, etc.)
\u2022 Media to be used (radio, television, print, etc.)
\u2022 Use of Social Media platforms such as Facebook, Youtube, Twitter, etc.
\u2022 Branding (family versus individual)
\u2022 Dealer incentives
\u2022 Trade shows, conferences, etc., in which you will participate
\u2022 Communication Extension vs. Adaptation
\u2022 Must the specific advertising message and media strategy be changed from region to region or country to country? What are the arguments for each?
\u2022 Global Choices with respect to advertising messages:
o Prepare new copy for foreign markets in host country\u2019s language
o Translate the original copy into target language
o Leave some or all copy elements in home country language
6.0 IMPLEMENTATION AND CONTROL
6.1 Action Plan for Implementation of Recommendations
This section shows how and when each element of the plan will be carried out, how it will be monitored, what unexpected contingency events may take place to impede the plan and what action will be taken to overcome these contingencies. An Action Plan to implement all activities detailed in the Marketing Plan should present the commencement and completion dates, and a monitoring and review program. Review stages (including market research activities and the participants involved) should be identified.
7.0 CONCLUSION
Once you have completed the report, setting out your plan and detailing your plan, you should finish the report with a conclusion. This requires your group to justify whether you should proceed or not proceed into the country market you have chosen.
BIBLIOGRAPHY
A comprehensive bibliography must be included. References are most likely to be made in the Situation Analysis and Market Entry Strategy sections. Poor referencing will result in a reduction of marks, while failure to include a bibliography will result in the report not being marked.
APPENDICES
Material that is important for the overall report but would be a distraction to the body of the text should be placed in the Appendix. Do not use this as a dumping ground for information, but only include relevant material. For example, Situation Analysis research material, and company-related material, like product brochures and planned advertisements for the new international market.<\/p>\n","protected":false},"excerpt":{"rendered":"
INTERNATIONAL MARKETING PLAN MODEL FORMAT 2024 TABLE OF CONTENTS EXECUTIVE SUMMARY 1.0 INTRODUCTION 2.0 RESEARCH METHODOLGY 3.0 SITUATION ANALYSIS 3.1 Company Analysis 3.2 Market Analysis 3.3 Competitor Analysis 3.4 Customer Analysis 3.5 Environmental Analysis 3.6 SWOT Analysis 4.0 OBJECTIVES 4.1 Organisation Mission and Corporate Strategy 4.2 Company Product\/Market Objectives 5.0 RECOMMENDED MARKETING STRATEGY 5.1 Market … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-40505","post","type-post","status-publish","format-standard","hentry","category-essaywr"],"_links":{"self":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts\/40505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/comments?post=40505"}],"version-history":[{"count":0,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts\/40505\/revisions"}],"wp:attachment":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/media?parent=40505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/categories?post=40505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/tags?post=40505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}