Marketing 505
tawby3300Hi, my name is Tabitha R. Howard and for this Assignment 3 I would like to use the global company Smithfields Foods that is a large global company that consists of like Gwaltney hams, bacon etc.. and I would like to use the country of Russia for expanding products of Smithfield Foods. Please use this information to write my paper. I will attach the assignment and rubric to follow.
Assignment 3: Entry Plan into International Market
Due Week 10 and 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 an eight to ten (8-10) page paper in which you:
1. 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).
2. 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 t of the assignment:
· A Basic Guide to Exporting Contents
(http://export.gov/basicguide/eg_main_017244.asp)
· Business week’s Magazine covering Global Marketing
http://bx.businessweek.com/global-marketing/
3. Ascertain the possibility and feasibility of financial, distribution, and marketing partnerships for the company within the chosen country. Your research should include:
a. Market structure and analysis (e.g., channels- direct or indirect)
b. Currency considerations
c. e-Commerce
d. Impact of regional and global trade integration
e. Potential volume of trade
f. The marketing mix components
g. Key cultural dimensions affecting marketing operations
4. 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.
5. Determine at least three (3) potential risks of foreign market expansion into 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).
6. Determine at least three (3) potential benefits of foreign market expansion into the country that you have chosen. Suggest one (1) strategy to maximize each benefit that you have determined.
7. 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.
8. 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.
The specific course learning outcomes associated with this assignment are:
· Formulate, implement, and evaluate effective marketing strategies based on an analysis of global operating environments, market dynamics, and internal capabilities.
· Analyze the major economic, cultural, and political / legal aspects of the international business environment, including the economic dynamics of foreign trade, impact of regional and global trade integration, and key cultural dimensions affecting marketing operations.
· Assess the potential risks and benefits of various international markets and formulate effective market entry strategies to support foreign market expansion.
· Integrate global information systems in the use of market research.
· Integrate the concepts of market segmentation, product development, and pricing policies into viable marketing strategy to fit a variety of international market environments.
· Construct product distribution channels and logistics to meet marketing objectives and fit a variety of global market environments.
· Analyze an integrated marketing communication (IMC) strategy to support global marketing operations.
· Integrate global e-Commerce into the marketing strategy.
· Evaluate and adapt corporate marketing strategies to fit the changing dynamics of foreign markets and foster a competitive advantage.
· Use technology and information resources to research issues in international marketing.
· Write clearly and concisely about international marketing using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.
Points: 300 |
Assignment 3: Entry Plan into International Market |
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Criteria |
Unacceptable Below 70% F |
Fair 70-79% C |
Proficient 80-89% B |
Exemplary 90-100% A |
1. Choose a country into which the company you selected may expand. Weight: 5% |
Did not submit or incompletely chose a country into which the company you selected may expand. |
Partially chose a country into which the company you selected may expand. |
Satisfactorily chose a country into which the company you selected may expand. |
Thoroughly chose a country into which the company you selected may expand. |
2. Develop a brief profile of the country that you have chosen. |
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2a. Include geographic and historical data regarding international business. Weight: 2% |
Did not submit or incompletely included geographic and historical data regarding international business. |
Partially included geographic and historical data regarding international business. |
Satisfactorily included geographic and historical data regarding international business. |
Thoroughly included geographic and historical data regarding international business. |
2b. Include political and legal environment for conducting international business. Weight: 2% |
Did not submit or incompletely included political and legal environment for conducting international business. |
Partially included political and legal environment for conducting international business. |
Satisfactorily included political and legal environment for conducting international business. |
Thoroughly included political and legal environment for conducting international business. |
2c. Include business customs and practices. Weight: 2% |
Did not submit or incompletely included business customs and practices. |
Partially included business customs and practices. |
Satisfactorily included business customs and practices. |
Thoroughly included business customs and practices. |
2d. Include economic environment. Weight: 2% |
Did not submit or incompletely included economic environment. |
Partially included economic environment. |
Satisfactorily included economic environment. |
Thoroughly included economic environment. |
2e. Include 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). Weight: 2% |
Did not submit or incompletely included 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). |
Partially included 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). |
Satisfactorily included 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). |
Thoroughly included 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). |
3. Ascertain the possibility and feasibility of financial, distribution, and marketing partnerships for the company within the chosen country. |
||||
3a. Include market structure and analysis (e.g., channels- direct or indirect). Weight: 5% |
Did not submit or incompletely included market structure and analysis (e.g., channels- direct or indirect). |
Partially included market structure and analysis (e.g., channels- direct or indirect). |
Satisfactorily included market structure and analysis (e.g., channels- direct or indirect). |
Thoroughly included market structure and analysis (e.g., channels- direct or indirect). |
3b. Include currency considerations. Weight: 5% |
Did not submit or incompletely included currency considerations. |
Partially included currency considerations. |
Satisfactorily included currency considerations. |
Thoroughly included currency considerations. |
3c. Include e-Commerce. Weight: 5% |
Did not submit or incompletely included e-Commerce. |
Partially included e-Commerce. |
Satisfactorily included e-Commerce. |
Thoroughly included e-Commerce. |
3d. Include impact of regional and global trade integration. Weight: 5% |
Did not submit or incompletely included impact of regional and global trade integration. |
Partially included impact of regional and global trade integration. |
Satisfactorily included impact of regional and global trade integration. |
Thoroughly included impact of regional and global trade integration. |
3e. Include potential volume of trade. Weight: 5% |
Did not submit or incompletely included potential volume of trade. |
Partially included potential volume of trade. |
Satisfactorily included potential volume of trade. |
Thoroughly included potential volume of trade. |
3f. Include the marketing mix components. Weight: 5% |
Did not submit or incompletely included the marketing mix components. |
Partially included the marketing mix components. |
Satisfactorily included the marketing mix components. |
Thoroughly included the marketing mix components. |
3g. Include key cultural dimensions affecting marketing operations. Weight: 5% |
Did not submit or incompletely included key cultural dimensions affecting marketing operations. |
Partially included key cultural dimensions affecting marketing operations. |
Satisfactorily included key cultural dimensions affecting marketing operations. |
Thoroughly included key cultural dimensions affecting marketing operations. |
4. 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. Weight: 5% |
Did not submit or incompletely analyzed the key reasons why the entering the market in the country that you have chosen is justified. Did not submit or incompletely included your research and analysis from Criteria 1 and 2 of this assignment to support the response. |
Partially analyzed the key reasons why the entering the market in the country that you have chosen is justified. Partially included your research and analysis from Criteria 1 and 2 of this assignment to support the response. |
Satisfactorily analyzed the key reasons why the entering the market in the country that you have chosen is justified. Satisfactorily included your research and analysis from Criteria 1 and 2 of this assignment to support the response. |
Thoroughly analyzed the key reasons why the entering the market in the country that you have chosen is justified. Thoroughly included your research and analysis from Criteria 1 and 2 of this assignment to support the response. |
5. Determine at least three (3) potential risks of foreign market expansion into 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). Weight: 10% |
Did not submit or incompletely determined at least three (3) potential risks of foreign market expansion into the country that you have chosen (e.g., language barriers, regulatory, taxation, expropriation, etc.). Did not submit or incompletely suggested one (1) strategy to mitigate each risk that you have determined using weighted metrics with a baseline number(s). |
Partially determined at least three (3) potential risks of foreign market expansion into the country that you have chosen (e.g., language barriers, regulatory, taxation, expropriation, etc.). Partially suggested one (1) strategy to mitigate each risk that you have determined using weighted metrics with a baseline number(s). |
Satisfactorily determined at least three (3) potential risks of foreign market expansion into the country that you have chosen (e.g., language barriers, regulatory, taxation, expropriation, etc.). Satisfactorily suggested one (1) strategy to mitigate each risk that you have determined using weighted metrics with a baseline number(s). |
Thoroughly determined at least three (3) potential risks of foreign market expansion into the country that you have chosen (e.g., language barriers, regulatory, taxation, expropriation, etc.). Thoroughly suggested one (1) strategy to mitigate each risk that you have determined using weighted metrics with a baseline number(s). |
6. Determine at least three (3) potential benefits of foreign market expansion into the country that you have chosen. Suggest one (1) strategy to maximize each benefit that you have determined. Weight: 10% |
Did not submit or incompletely determined at least three (3) potential benefits of foreign market expansion into the country that you have chosen. Did not submit or incompletely suggested one (1) strategy to maximize each benefit that you have determined. |
Partially determined at least three (3) potential benefits of foreign market expansion into the country that you have chosen. Partially suggested one (1) strategy to maximize each benefit that you have determined. |
Satisfactorily determined at least three (3) potential benefits of foreign market expansion into the country that you have chosen. Satisfactorily suggested one (1) strategy to maximize each benefit that you have determined. |
Thoroughly determined at least three (3) potential benefits of foreign market expansion into the country that you have chosen. Thoroughly suggested one (1) strategy to maximize each benefit that you have determined. |
7. 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. Weight: 10% |
Did not submit or incompletely suggested 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. |
Partially suggested 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. |
Satisfactorily suggested 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. |
Thoroughly suggested 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. |
8. 6 references Weight: 5% |
No references provided |
Does not meet the required number of references; some or all references poor quality choices. |
Meets number of required references; all references high quality choices. |
Exceeds number of required references; all references high quality choices. |
9. Clarity, writing mechanics, and formatting requirements Weight: 10% |
More than 6 errors present |
5-6 errors present |
3-4 errors present |
0-2 errors present |
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MKT 505 – Assignments and Rubrics |
Weekly Course Schedule
The purpose of the course schedule is to give you, at a glance, the required preparation, activities, and evaluation components of your course. For more information about your course, whether on-ground or online, access your online course shell.
The expectations for a 4.5 credit hour course are for students to spend 13.5 hours in weekly work. This time estimate includes preparation, activities, and evaluation regardless of the delivery mode.
Instructional Materials
In order to be fully prepared, obtain a copy of the required textbooks and other instructional materials prior to the first day of class. When available, Strayer University provides a link to the first three (3) chapters of your textbook(s) in eBook format. Check your online course shell for availability.
Review the online course shell or check with your professor to determine whether Internet-based assignments and activities are used in this course.
Strayer students are encouraged to purchase their course materials through our designated Strayer Bookstore. http://www.strayerbookstore.com If a lab is required for the course, the Strayer Bookstore is the only vendor that sells the correct registration code so that Strayer students may access labs successfully.
Discussions