A Guide for Developing a Marketing Plan
* To give the students actual practice in developing and writing a marketing plan. * To help students better understand the material by relating it to the international entry of a firm. * To teach students how to determine the potential attractiveness or difficulties in entering a new, foreign market. * To further develop students’ ability to create a marketing plan by learning to adapt such plans to an international market. * To further develop students’ presentation, writing, and group leadership skills. * To assist students in developing independent thinking skills and showcasing their creative ability.
This assignment involves two related activities. First, a group of students will represent the international research and market implementation group of a multinational corporation that is deciding whether to enter one of two different countries. Student responsibilities, as a group, are to first select one foreign country to enter. Second, each group will develop a written international marketing plan discussing the entry into the market selected. The length of the paper will vary depending on faculty’s exact requirements. Each group will formally present their marketing plan to the rest of the class. Both the paper and the presentation will be graded.
Assumptions are a crucial part of any academic exercise; they put limits on what would otherwise be unmanageable task. Here are some important assumptions for this assignment: 1) Students will read the full instructions, their textbook, and pay attention during class; 2) The end document should reflect the information learned in this class; 3) The end document should be formatted and written well (see below for writing suggestions); 4) Students will effectively divide the responsibility for particular parts of the marketing plan and assign a part or parts to individual group members; 5) Each group member is responsible for the entire assignment.
Students should make sure everything is internally consistent and realistic. Instructors can allow students to pick their own company or instructors can create a fictitious one, depending on their preference.
Grading will focus on the following:
1) Theory, concepts, and terms learned in class and used in the marketing plan. 2) Ability to apply the concepts and theories that best apply to your countries. 3) Ability to take the information about the country and use it to add richness to the discussion of the concepts and terms from class. 4) Following instructions.
5) The quality of the recommendations made.
6) The skill with which the plan is presented to the class. 7) The overall strength of the marketing plan.
The end marketing plan should include many details regarding the country. To find information, students can use newspapers (such as the Wall Street Journal or the Financial Times) and magazines (such as Business Week or the Economist) as sources for this information (visit the library). The brief list of on-line references is also included. Regardless of what sources are used, students should reference them.
Marketing Plan Outline:
The end paper should include the following topics.
I. Title Page
a. Group member should be on this page.
II. Executive Summary
b. This is the last section written and should focus on presenting your main goals and recommendations. It should not be longer than 1 page. III. Company’s mission statement and a short profile of the company. IV. Table of Contents
V. Country selected
c. Brief discussion of country’s relevant historical developments d. The National Business Environment
i. People – language(s), culture, religion, work ethic, population, population growth rate, age structure, ethnic makeup, education attainment...
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