This is a full semester cultural and marketing plan project where you explore the cultural and economic environment of a country you want to explore. You should choose a country and a product / service that is not currently found in the targeted country and devise a cultural analysis and marketing plan for the chosen country. For example, you can choose to market an automobile from the United States into a foreign country. You should consult with a librarian for recommendations on where to find the information you need to complete each section of your project.
This semester long project will be collected in 3 separate parts at 3 separate times during the semester. The parts and due dates are as follows:
1. Part 1: Introduction to Culture of the Country (100 points) (Due by 11:59pm Sunday, September 27, 2020)
The data suggested in the cultural analysis includes information that helps the marketer make market-planning decisions. However, its application extends beyond product and market analysis to being an important source of information for someone interested in understanding business customs and other important cultural features of the country.
The information in this analysis must be more than a collection of facts. In preparing this material, you should attempt to interpret the meaning of cultural information. With that said, your country analysis should contain at least one paragraph on each of the following areas:
I. Include short profiles of the company, the product to be exported and the country with which you wish to trade.
II. Brief discussion of the country’s relevant history
III. Geographical setting
IV. Social institutions
i) The nuclear family
ii) The extended family
iii) Dynamics of the family
(1) Parental roles
(2) Marriage and courtship
i) The role of education in society
(1) Primary education (quality, levels of development, etc)
(2) Secondary education (quality, levels of development, etc.)
(3) Higher education (quality, levels of development, etc.)
ii) Literacy rates
c) Political System
i) Political structure
ii) Political Parties
iii) Stability of government
iv) Special taxes
v) Role of local government
d) Legal System
i) Organization of the judiciary system
ii) Code, common, socialist, or Islamic-law country?
iii) Participation in patents, trademarks and other conventions
i) Group behavior
ii) Social classes
iii) Clubs, other organizations
iv) Race, ethnicity and subcultures
f) Business customs and practices
V. Religion and aesthetics
a) Religion and other belief systems
i) Orthodox doctrines and structures
ii) Relationship with the people
iii) Which religions are prominent?
iv) Membership of each religion
v) Any powerful or influential cults?
i) Visual arts (fine arts, plastics, graphics, public arts, colors etc.)
iii) Drama, ballet, and other performing arts
iv) Folklore and relevant symbols
VI. Living conditions
a) Diet and nutrition
i) Meat and vegetable consumption rates
ii) Typical meals
iii) Malnutrition rates
iv) Foods available
i) Types of housing available
ii) Do most people own or rent?
iii) Do most people live in one-family dwellings or with other families?
i) National dress
ii) Types of clothing worn at work
d) Recreation, sports, and other leisure activities
i) Types available and in demand
ii) Percentage of income spent on such activities
e) Social security
f) Health Care
a) Official language(s)
b) Spoken versus written language(s)
VIII. Executive Summary
After completing all the other sections, prepare a two-page (maximum length) summary of the major points you have gathered on culture and place it at the front of the report. The purpose of an executive summary is to give the reader a brief glance at the critical points of your report. Those aspects of the culture a reader should know to do business in the country but would not be expected to know or would find different based on his or her home country should be included in this summary.
IX. Sources of information
2. Part 2: The Economic Analysis of the Country (100 points) (Due by 11:59pm Sunday, October 25, 2020)
There are two broad categories of information in this guideline: general economic data that serve as a basis for an evaluation of the economic soundness of a country and information on channels of distribution and media availability. As mentioned earlier, the guideline focuses only on broad categories of data and must be adapted to the company you chose and its product needs. With that said, write at least one paragraph for each of these sections.
i) Growth rates
ii) Number of live births
iii) Birth rates
b) Distribution of population
iii) Geographic areas (urban suburban, and rural density and concentration)
iv) Migration rates and patterns
v) Ethnic groups
III. Economic statistics and activity
c) Gross national product (GNP or GDP)
ii) Rate of growth (Real GNP or GDP)
(1) Personal income per capita
(2) Average family income
d) Distribution of wealth
i) Income classes
ii) Proportion of the population in each class
iii) Is the distribution distorted?
e) Minerals and resources
f) Surface transportation
iii) Usage rates
g) Communication systems
iii) Usage rates
h) Working conditions
i) Employer-Employee relations
ii) Employee participation
iii) Salaries and benefits
i) Principal industries
i) What proportion of the GNP does each industry contribute?
ii) Ratio of private to publicly owned industries
j) Foreign Investment
ii) Which industries?
k) International trade statistics
i) Major exports
(1) Dollar value
ii) Major imports
(1) Dollar value
iii) Balance-of-payments situation
(1) Surplus or deficit?
(2) Recent trends
iv) Exchange rates
(1) Single or multiple exchange rates?
(2) Current rate of exchange
l) Trade restrictions
iii) Import taxes
vi) Customs duties
m) Extent of economic activity not included in cash income activities
i) Counter trades
(1) Products generally offered for counter trading
(2) Types of counter trades requested (i.e. barter, counter purchase, etc.)
(3) Foreign aid received
n) Labor force
ii) Unemployment rates
o) Inflation rates
IV. Developments in science and technology
a) Current technology available (computers, machinery, tools etc.)
b) Percentage of GNP invested in research and development
c) Technological skills of the labor force and general population
V. Channels of distribution (macro analysis)
This section reports data on all channel middlemen available within the market. Select a specific channel as part of your distribution strategy for your marketing plan
i) Number of retailers
ii) Typical size of retail outlets
iii) Customary markup for various classes of goods
iv) Methods of operation (cash/credit)
v) Scale of operation (large/small)
vi) Role of chain stores, department stores specialty shops
b) Wholesale middlemen
i) number and size
ii) Customary markup for various classes of goods
iii) Method of operation (cash/credit)
c) Import/Export agents
e) Penetration of urban and rural markets
This section reports data on all media available within the country or market. Select specific media as part of the promotional mix and strategy for your marketing plan.
a) Availability of media
iv) Other media (cinema, outdoor etc.)
c) Agency assistance
d) Coverage of various media
e) Percentage of population reached by each of the media
VII. Executive summary
After completing the research for this report, prepare a two-page (maximum) summary of the major economic points and place it at the front of the report
VIII. Sources of information
3. Part 3: The Marketing Plan (100 points) (Due by 11:59pm Monday, November 16, 2020)
Market-oriented firms build strategic market plans around company objectives, markets and the competitive environment. Planning for marketing can be complicated even for one country, but when a company is doing business internationally, the problems are multiplied. Company objectives may vary from market to market and from time to time; the structure of international markets also changes periodically and from country to country; and the competitive, governmental, and economic parameters affecting market planning are in a constant state of flux. These variations require international marketing executives to be especially flexible and creative in their approach to strategic marketing planning.
This part of the project is the most product or brand specific. Information in the other parts is general in nature, focusing on product categories, whereas data in this section are brand specific and are used to determine competitive market conditions and market potential.
Two different components of the planning process are reflected in this guideline. Information in Parts I and II, Cultural Analysis and Economic Analysis, serve as the basis for an evaluation of the product or brand in a specific country market.
Information in this guideline provides an estimate of market potential and an evaluation of the strengths and weaknesses of competitive marketing efforts. The data generated in this step are used to determine the extent of adaptation of the company’s marketing mix necessary for successful market entry and to develop the final step, the action plan.
The detailed information needed to complete this guideline is not necessarily available without conducting a thorough marketing research investigation. Thus, another purpose of this part of the project is to identify the correct questions to ask in a formal market study.
Write at least one (1) paragraph on each in each of these areas.
II. The Product
A. Evaluate the product as an innovation as it is perceived by the intended market.
1. Relative advantage
B Major problems and resistance to product acceptance based on the preceding evaluation
III. The Market
A. Describe the market(s) in which the product is to be sold
1. Geographical region(s)
2. Forms of transportation and communication available in that (those) region(s)
3. Consumer buying habits
a. Product-use patterns
b. Product feature preferences
c. Shopping habits
4. Distribution of the product
a. typical retail outlets
b. Product sales by other middlemen
5. Advertising and promotion
a. Advertising media usually used to reach your target market(s)
b. Sales promotions customarily used (sampling, coupons, etc.)
6. Pricing strategy
a. Customary markup
b. Types of discounts available
B. Compare and contrast your product and the competition’s product(s).
1. Competitor’s product(s)
a. Brand name
2. Competitor’s prices
3. Competitor’s promotion and advertising methods
4. Competitor’s distribution channels
C. Market size
1. Estimated industry sales for the planning year
2. Estimated sales for your company for the planning Year
D. Government participation in the marketplace
1. Agencies that can help you.
2. Regulations you must follow
IV. Executive Summary
Based on your analysis of the market, briefly summarize (two-page maximum) the major problems and opportunities requiring attention in your marketing mix, and place the summary at the front of the report
V. Sources of information