International Business

 

 International Business Grading Policies and Lesson Plans

 

 1

 

 The grade points of 100% or 1000 points are divided into the following assignments:

1. International Business Project (Total 30% or 300 points possible)

 

Assignment

3 students will form a group to develop a portfolio for a product/service in a foreign country of their own choice on the issue of entry strategy. The purpose of this project is to simulate the decisions one might be asked to make in a multinational or global corporation. It is intended to give first-hand experience in identifying market opportunities and developing market entry strategies. In order to form the essential foundation for the portfolio, the market analysis has to be prepared. The group should work as if they represent a large multinational company planning to expand operations to a new country.

Selecting a country

Select a foreign country in which the group has some specific interest. It can be an industrialized or a developing nation. Some suggestions include: leading emerging markets such as Argentina, Brazil, Chile, China, Egypt, Hungary, India, Israel, Ivory Coast, Japan, Mexico, Nigeria, Poland, Russia, Singapore, South Africa, Turkey, Vietnam, and other countries in the European Union, Middle East, Eastern Europe, former Soviet Union republics, etc.

Selecting a product

In this project, the focus should be on consumer products, as they offer more opportunities to focus on cultural adaptation than do most industrial goods. When selecting your product, consider two factors. First, the product should have obvious cultural overtones to provide a strong cultural impact to the project. Second, the product should be one that you know something about. Examples of products: powered milk, baby food, disposable diapers, diet supplements, prepared foods such as dry soups, soft drink mix, children’s toys, instant noodles, franchise outlets, etc. You also choose a real brand from an existing company.

Proposed outline

Part A: Country/Market Analysis

1. General information of the selected country ( location, climate, topography, etc.) along with a brief history

2. Cultural and social analysis

 Language or languages spoken/written

 Religion(s) and religious influences in life and business

 Customs/traditions/manners/habits: food, drinks, clothing, personal hygiene, myths and superstitions

 Core values, norms, and attitudes relating to foreign and domestic products

 High or low context culture: rankings or Hofstede’s Cultural Dimensions

 Aesthetics-colors, music, symbolism, beauty, etc.

 Social institutions-family life, educational institutions, class systems, etc.

 Business customs – protocols, greetings, keeping time, space, gift giving, hospitality, negotiations, etc.

IBA3000 International Business Grading Policies and Lesson Plans

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3. Economic analysis

 Population; actual count (latest), growth rates, number of households, working population, age distribution, density of population, etc.

 Income, GNP or GDP, per capita income, average family income, distribution of wealth, etc.

 Natural resources.

 Infrastructure, transportation & communication systems

 Inflation rates

 International trade statistics: exports, imports, balance-of-payments situation, exchange rates

 Trade restrictions: embargoes, quotas, import taxes, tariffs, licensing, customs duties

4. Political and legal analysis

 Political ideology

 Role of politics

 Relationship with other countries

 Legislation, regulations, or special rules affecting marketing of your product

 Tariffs, quotas, and other restrictions on imports and exports

 Information on subsidies provided

 Intellectual property rights

 

Part B: Market entry strategies

1. Introduction: describe the product and the company you work for

2. Situation analysis: describe the environment you operate in (modify part A information relevant to your plan)—general information about the industry, competition and governmental controls along with information about the firm and the market

3. Target market and position : define your target consumers and the positioning of your product

4. Marketing mix

 Product details

– Describe your product in some details and reasons to buy

– Attitudes toward foreign products in the target country

– Strategic alternatives: extension, adaptation, or invention

– How many do you expect to sell?

 Pricing details

– Your pricing objectives and strategies

– Environmental influences on your pricin decisions

– At what price you will sell your product and why?

– Total revenue expectations

 Channels of distribution details

– Your channel objectives and constraints

– What channels of distribution will you select (retailers, wholesale middlemen, etc)?

 Promotion details

– Who is your target audience?

– Your promotion objectives

– Types of promotion (advertising, sales promotions, personal selling, etc) with reasons of selection

– What will be your basic advertising message? What media will you use and why?

IBA3000 International Business Grading Policies and Lesson Plans 3   

– Proposed promotion expenditures

5. Conclusion

 

This part answers several questions: Why have chosen the specific strategy? What are the chances of success for your product in the targeted country? And you can add your recommendations to market or not to market the product in the country. You provide reasons to support your recommendation.

6. Reference list

 

You must provide a complete reference for all materials you consult. Information drawn from these sources should be cited within the body of your paper.

7. Appendix or appendices: appendix or appendices can include related materials.

 

Write-up, 20% or 200 points, Due on November 28th

This write-up should be in double-spaced, 12 font size APA format. Part A: Market Analysis and Part B: Market Entry Strategies are expected to be approximately 3000 words in total (excluding appendices and supporting materials). This paper is due on November 28, 2012. Please submit your assignment in two methods, a hardcopy and an electronic file via email to plimprayoon2@alliant.edu

Suggested sources of information

1. Statistical Data

 

United Nations Statistical Yearbook

UNESCO Social Statistical Compendium

Organization for Economic Cooperation and Development (OECD)

European Marketing Data and Statistics

Consumer Europe

Statistical Yearbook for Latin America

The Market of Asia/Pacific: Thailand, Taiwan, China, Hong Kong, South Korea, Philippines, Indonesia, Singapore, and Malaysia

Worldwide Economic indicators

International Marketing Data and Statistics

World Factbook

World Development Report

World Almanac

2. Bibliographies and Indexes

 

The Economist Intelligence Unit

Sociological Abstracts

National Geographic Index

Business Periodicals Index

Encyclopedia Britannica

3. Information by Country

 

The World Almanac and Book of Facts

Worldmark Encyclopedia of Nations

Europa Yearbook

Country Profiles

4. Culture Information by Country

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5. Useful Links on www

 

General Resources Sites

www.odci.gov/cia/publications/factbook

www.t-bird.edu/research/ibic

www.ita .gov/td/industry/otea/index.html

www.usitc.gov/edu.htm

www.census.gov/ipc/www/idbnew.html

www.popnet.org

www.prb.org

www.washingtonpost.com/wp-srv/business/longterm/hoovers/hoovers.htm

www.city.net

www.refdesk.com/facts.html

Global News sites

http://news.bbc.co.uk

http://news.google.com

www.pwcglobal.com/gx/eng/ins-sol/exec-pers/int-brief.html

www.cnn.com

www.mckinsey.com

www.asia1.com.sg

www.stat-usa.gov/itabems.html

www.eurunion.org

www.sice.oas.org

www.imf.org

www.jetro.org

www.un.org

www.wto.org

www.worldbank.org

Other Journals

European marketing data and statistics

Industrial marketing management

International marketing data and statistics

The Journal of database marketing

Marketing week

Marketing in Europe

Marketing pocket book

Harvard business review

Quarterly review of marketing

Regional marketing pocket book

UK marketing source book

Journal of vacation marketing

Business week

Business monitor

Journal of world business

Etc.