- Assignment : Entry Plan into International Market
worth 300 points
This assignment will provide you with firsthand experience in developing a strategic marketing plan for entering a new international market. Choose a global company that you are familiar with for this paper. Note: Do not use a company from a previous assignments or discussions.
Use the Internet or Strayer Library to research the following components of the global company that you have chosen:
– Company Profile (History & Analysis)
– Product(s)
– Financial Status
– Market Position
– Analysis of current global operating environments
– Integrated marketing communication (IMC) Strategy
– Strengths and Weaknesses Analysis
– Sustainable Competitive Advantage(s) enjoyed by the firm
– Sources of funds for the project
– Pro-Forma Balance Sheet & Income Statement for five (5) years
– Cash-Flow Statement
Note: You may also use the following resource for your research:
§ Financial profiles for global companies:
(http://news.morningstar.com/stockReturns/CapWtdIndustryReturns.html)
Write a five to six (5-6) page paper in which you:
- Choose a country into which the company you selected may expand. Note: Ensure that the country you chose is currently not doing business with the selected company in any capacity (e.g., exporting, FDI, or contract manufacturing).
- Develop a brief profile of the country that you have chosen. The summary should include:
a. Geographic and historical data regarding international business
b. Political and legal environment for conducting international business
c. Business customs and practices
d. Economic environment
e. Socio-economic analysis which should include the factors of concern (e.g., population characteristics, language, GDP, taxation, personal income, labor, industries, communication networks, imports / exports, and major trading partners’ countries).
Note: Refer the following resource to complete this criterion of the assignment:
§ A Basic Guide to Exporting Contents
(http://export.gov/basicguide/eg_main_017244.asp)
- Ascertain the possibility and feasibility of integrating ecommerce into the company’s offering. Your research should include:
a. Impact of regional and global trade integration
b. Potential volume of trade
c. The marketing mix components
d. Key cultural dimensions affecting marketing operations
- Analyze the key reasons why the entering the market in the country that you have chosen is justified. Include your research and analysis from Criteria 1 and 2 of this assignment to support the response.
- Determine at least three (3) potential risks of foreign market expansion using ecommerce for the country that you have chosen (e.g., language barriers, regulatory, taxation, expropriation, etc.). Suggest one (1) strategy to mitigate each risk that you have determined using weighted metrics with a baseline number(s).
- Suggest at least two (2) ways in which you would adapt the operational strategies of your chosen company both to fit the changing dynamics of foreign markets and to foster a competitive advantage for the company.
- Use at least six (6) academic resources in this assignment. Note: Wikipedia and other similar Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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Assignment 3: Entry Plan into International Market
(Student’s Name)
(Professor’s Name)
MKT 505: Strayer University
(Date)
Entry Plan into International Market
Target Inc.
Brief Company Overview
Founded in 1902 and headquartered in Minneapolis, MN, Target is an international company with 1,800 stores in 49 states in the United States. The company is a general merchandize retailer, with product portfolio that includes dry grocery, frozen items and dairy and all sorts of electronics (Target Inc., 2017). The company posted sales of over 69 billion dollars in the second quarter of 2017, owing to its vast brands such as Archer Farms, Sutton & Dodge, Threshold, Smith & Hawken, Gilligan & O’Malley and Cat & Jack among others. The majority of the company revenues are generated from the large United States market although it has expanded its operations to include Canada and other countries in Europe. Its competitors include Wall-Mart, Costco Wholesale Corp., Groger Co., and Home Depot Inc.
Expanding into Nigerian
Brief Profile of Nigeria The Federal Republic of Nigeria has an estimated population of about 186 million (with 58 million constituting the labour market), with English as its official language. The country has had direct business investments from outside the country, with U.S being the leading foreign direct investor. U.S has often supplied the country with refined oil products, wheat, military equipment and parts and agricultural equipment among other products. However, foreign investment in the country is governed by the country’s laws, which sets the guidelines that foreign investors must abide before being allowed to operate. According……………………………………………………………………………………………………………………………………………………………………………………………………
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