MARKETING STRATEGY PROJECT

The marketing project consists of three sections:

1. PROJECT PROPOSAL (posted in week 3 in the discussion section and not graded)
2. SECTION 1 (posted in week 5 in the assignment section, not graded but with feed-back)
3. COMPLETE PROJECT (posted in week 10 including Section 1 adjusted and Section 2)

 

Grades are for the Complete project posted on week 10.

Marketing Strategy Project Plan (Section 1 and 2) – Grades. Out of 100 points

• SECTION 1.
  • Analysis and selection of data so as to convert it into information that is useful and serves as support to the project: 20 points
  • Analysis and definition of the key competitors and the competitive environment: 5 points
• SECTION 2
  • SWOT analysis of the company in the target market: 5 points
  • Entrance mode and justification: 10 points
  • Strategic proposal of the product or service in terms of segmentation and positioning: 10 points
  • Marketing variables development: 40 points
  • Financial analysis: 10 points.

 

Contents’ guide

1. Marketing Strategy Project PROPOSAL (week3)

INTRODUCTION

Brief description, introducing the product, the target market and the rationale for choosing this combination. Less than a page in extension.

 

2. SECTION 1:  Marketing Strategy Project (week 5)

SECTION 1: DATA ANALYSIS

This part of the overall project is data driven with smaller sections of analysis identifying key features of the target market.  There are three main sections; Economic Analysis, Cultural Analysis, and Competitor Analysis.  Other ‘tools’ that could be used in this section of the project are PEST analyses.

THIS IS A GUIDE SO AS TO HAVE AN IDEA OF WHAT TYPE OF INFORMATION YOU COULD COLLECT.

YOU DO NOT NEED TO COLLECT ALL THE INFORMATION MENTIONED IN THE LIST. ONLY THE DATA WHICH IS USEFUL TO SUPPORT YOUR PROJECT PROPOSAL.

ECONOMIC ANALYSIS: This analysis is more quantitative than the other two sections in this part of the project.  The type of information gathered and analyzed will include:

Economic Statistics and Descriptions

Gross National Product (GNP);  Rate of Growth in real GNP; Personal Income Per Capita

Average Family Income

Distribution of income (by) Income or Social classes, Proportion of population in each class, Is the distribution distorted? (GINI Index)

Inflation Rate; Government Social Programs; Social Security; Health Care

Labor Force; Size; Unemployment Rate; Typical Working Conditions

Primary/Secondary/Tertiary Sectors of the Economy

Principal Industries

Foreign Investment; Rate of Investment (FDI); Which industries?

Transportation—Modes and Availability

Communication Systems—Modes, Availability, and Usage Rates

International Trade Statistics

Major Exports—Dollar Value and Trends

Major Imports—Dollar Values and Trends

Balance-of-Payments (Surplus or Deficit?)

Currency strength and stability and current rate of exchange

General Trade Restrictions and discussion of trade environment

Tariffs, Quotas, License Fees, Import Taxes, etc.

Memberships (WTO, Trade blocs, NATO, UN, etc.)

CULTURAL ANALYSIS:  This analysis will combine both quantitative and qualitative data in attempt to thoroughly describe the country in which the product is to be marketed.  The type of information examined here will include:

Geographical Setting

Location; Climate; Topography

Relevant history and/or recent events

Description of Political System

Political Structure and Parties; Stability of Government

Population and Demographics

Total Population Size;  Growth rate;  Birth/Death rates

Distribution of Population (by) Age, Gender, Races or Ethnicities, Geographic (urban, rural)

Description of Religion and It’s Impact on Daily Life

Prominent religions; Membership size and power

Language

Official languages; Dialects

Description of Daily Life and Lifestyles

Male/Female Roles in Society

Impact of Technology; Available technologies; Skill level of labor force

Consumer buying habits, use patterns, and shopping patterns

Availability and Impact of Media    

Availability of Media;  Percentage of population reached by each medium

Availability of Channels of Distribution—this section reports data on all channel middlemen available within the country.      

Retailers—number and typical size (small or large) of retail outlets/role of different stores,

Wholesalers—number and typical size/cash or credit operators?

Other types of available agents or intermediaries

How does this market feature in terms of Hofstede &/or Trompenaars Cultural Dimensions?

COMPETITIVE ANALYSIS:  This section describes the competitive situation in the target market.  The data will include issues such as:

Estimated industry-wide sales (or volume) for year—all brands

Competitive brands available in the market

Relative market shares and strengths enjoyed in the market

Market Conditions Faced

Forms of available transportation and communication in the region

Advertising and Promotion

Media that can be used to reach target market

Sales promotions customarily used in this product category (samples, coupons, etc.)

Pricing—customary markups and types of discounts available for this kind of product

 

3. SECTION 2:  Marketing Strategy Project (week 10)

Marketing strategy

This part of the project builds on the data analysis completed in Section 1.  That data ‘platform’ becomes the basis for projecting the market entry plan, the distribution plan, the communication plan, and the way(s) in which the success of the project will be assessed. In this section you could include a SWOT analysis so as to reinforce your competitive advantage in the new target market.

The layout may look something like the following:

Your Product /  Service

Brand Name—origin and significance

Positioning Strategy

Evaluate the product as an innovation as it is perceived by the intended market

Discuss also major product problems and resistances based on the preceding evaluation

The Marketing Objectives & Product Strategy

Target market (specific description of the market)

Expected market share or market penetration rate

Expected sales in dollar volume

Product differentiators or competitive advantages

Strategic proposal of the product or service in terms of segmentation and positioning

The Market Entry Plan

Form of entry and Justification

Support Services Entrance mode and justification

Risk/Reward analysis

The Communication Plan

Major message thrust

Advertising—media mix, reach, costs

Sales Promotion—forms, objectives, and costs

Personal Selling

Miscellaneous promotional methods

 

The Distribution Plan

Define if you produce the product in the target market or just import the product from another country.

Identify channel partners and clarify roles played by each.

Port Selection. Origin Port

Mode Selection—Specify your mode of choice and discuss the advantages/disadvantages of each mode for reaching your country (Railroad, Air carrier, Ocean carrier, Motor carrier)

 

Define how you will reach the final customer / consumer / user

Distribution channel, wholesalers, retailers, agents, brokers, distributors

The Pricing Plan

Pricing strategy

Competitive prices

Handling Expenses (pier charges, wharfage fees, loading/unloading charges)

Customs duties; Import taxes

Wholesale and Retail Markups

Company’s gross margin

 

Budgets and Profitability Analysis

Marketing Budget

Product Cost

Distribution expense

Selling expenses

Advertising and promotion expenses

Other Costs

Annual profit and loss statement (years 1-3) – pro forma

Key Performance Indicators (KPI’s)

Risk Analysis; Major risks to successful completion of the project

References/Sources of Information

 

Appendices (if needed)