You are required to prepare an international market assessment of two countries for a specified product

| March 29, 2017

Question
We have choosen the company:

-.wikipedia.org/wiki/BYD_Automobile”>http://en.wikipedia.org/wiki/BYD_Automobile

-.byd.com/auto/”>http://www.byd.com/auto/

– We want to market the CARS in Spain and Greece.

How to complete assignment is below steps:

You are required to prepare an international market assessment of two countries for a specified product from an existing firm using publicly available information. You should choose one country market for entry and recommend an in-market marketing strategy using the marketing mix. You will be assigned a countries and a product by your tutor.

The first step would be to determine the comparative country attractiveness for the product. Secondly, to recommend an entry mode strategy and make recommendations for the marketing mix for your product in-market. Students should make use of the library database resources, such as Global Marketing Information Database(GMID) .portal.euromonitor.com.alpha2.latrobe.edu.au/Portal/Magazines/Welcome.aspx”>http://0-www.portal.euromonitor.com.alpha2.latrobe.edu.au/Portal/Magazines/Welcome.aspx and other external resources such as Austrade (http://www.austrade.gov.au/). These databases provide business intelligence on countries, markets and companies. GMID includes historical statistics and forecasts, analysis of consumers’ lifestyles, information sources, brand and company information and full-text market analysis. Austrade also provides similar country and product-based information.

Proposed Structure:

From a structural perspective, this is a business plan and should be written in report format /genre. .latrobe.edu.au/lasesl/assets/downloads/business-report-writing.pdf”>http://www.latrobe.edu.au/lasesl/assets/downloads/business-report-writing.pdf The plan should include the following sections and sub-sections as a minimum:

1. Executive Summary: should present key findings from your analysis, a summary of your major recommendations and key outcomes (write this last).

2. Table of Contents: including page numbers.

3. Introduction: provides the reader with an understanding of the purpose of the project, its scope and structure.

4. Company and Product Background: provide an analysis of the business and product performance from a domestic perspective. This discussion should provide some information about the competitive advantages that the business might leverage in international markets. You should:

– Briefly indicate company objectives and corporate strategies – what are the aims of the company?

– Are the company’s business strategies directed towards gaining market share?

– How has the company been faring in the last three years or so?

– What is the product and what needs does it satisfy?

– Who is the target market for the product?

– How has the product been performing?

– What resources does the company have to go overseas?

5. Comparative Country and Product Market Attractiveness: you are required to compare and then justify the choice of country assessing the dynamic and competitive nature of the product market within that country. In order to do this you should undertake a macro-environmental analysis of the country in question and then undertake a detailed market analysis of the chosen product market.

Political, cultural, economic, social and technological environments:

– Assess the macro environment of the country.

– What are the similarities and differences between Australia and your chosen country, in terms of these macro-environmental factors using the PEST framework?

– How might these similarities and differences influence your marketing strategy in your country and product market?

Product Market Analysis:

– What is the size of the market?

– Is it growing and if so at what rate?

– Are there clear and distinct segments within the market? What are the sizes and relative growth rates of these segments?

– At what phase is the market in relation to the product lifecycle?

– To what extent is the market supplied by foreign sources?

– What are the sources of foreign supply?

– What are the major forms of marketing channels (distribution) used within the product market?

Competitive Analysis:

– Are there competitors in that market?

– What form of competitors are these, company or product-based?

– How many competitors are there in the market?

– Who are the competitors and how do they operate?

– Are the competitors foreign or locally-based?

– Where do you see your company compared to those competitors (differentiation strategies and positioning)?

– What are you company’s strengths in comparison to the competitor?

Buyer Analysis:

– Assess buyer behaviour within the identified market segments through consumer analysis.

– Identify and describe your target market segmentation strategies.

6. Market Selection with Justification and Opportunity Statement:

Briefly outline the major opportunities, some of them will come from summarizing the above points (for example: competitors may be weak in an area and you may find it necessary to fill in the gap or you could be satisfying latent needs).

7. Entry Strategy: What entry mode(s) will you use to enter that country (for example – direct exporting, joint venture, strategic alliance, etc.)? Justify your entry strategy.

8. Marketing Objectives:

Marketing objectives are usually derived from an assessment of the capabilities of the business and market opportunities. These should be specific, measurable, achievable, realistic, and time framed.

– What market share do you aim to achieve?

– Are there any other marketing objectives you wish to specify?

Please refer to the Country Notebook – A Guide to Developing the Marketing Plan Appendix in the text on International Marketing, 2009, Cateora et al McGraw Hill.

You are encouraged to incorporate all aspects of the coursework, text and readings to provide a comprehensive and detailed International Market Analysis and Entry Strategy Report. It is acknowledged that there will be ‘grey’ areas in the information and uncertainty about certain areas. Much of this can be overcome by intensive use of on-line databases and traditional research. You might, also, consider incorporating an approach that deals with what you should or would do if you had sufficient detailed market information on specific foreign markets and how these operate within your chosen markets.

The assignment must be typed, and professionally presented in a report format.

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