This would include Cultural, Political, Economic, Legal and Technological aspects of the environment (all aspects of the macro and micro environment that are relevant to the particular company/product and country-market being looked at need to be covered). • Environmental Analysis must be supported by country-specific research, and sources must be cited supporting key perspectives on the country. Key similarities and differences between the particular foreign market and the home market must also be identified and discussed 3. Competitive Analysis 4. SWOT analysis – company’s own strengths and weaknesses in the context of the environmental analysis and market audit. 5. Evaluation of companies Objectives (both short and long-term) for the specific products and country-markets being considered (in the light of the environmental analysis) and recommendations. 6.
Assessment of the country-market opportunity being considered, and possible market-entry strategies appropriate to the market, including recommendations on most suitable market-entry strategies in the context of the preceding analysis (Note: In situations where the company has already decided on a country-market to enter into, you would evaluate and critique the company decision, and provide your view on whether you agree with the particular country-market choice or not). 7. Marketing Mix Recommendations for the chosen country-market and rationale for the recommendations.
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Particular reference should also be made to Standardisation and Adaptation (ie. The marketing mix elements that will be 2 carried over from the home market to the foreign market and therefore standardised, and the marketing mix elements that will be customized to suit the needs of the foreign market should be analysed and highlighted) . The marketing mix recommendations should include: a. Target markets and consumer profile b. International Product/Services strategy c. International Marketing Communications strategy d. International Distribution & Channel Management strategy e. International Pricing strategy f.
Any other relevant marketing mix elements that you recommend be used a part of the strategy to enter the foreign market Please note that your recommendations will need to logically flow from your Environmental analysis (including the comparison of the home market and the foreign market), SWOT analysis, evaluation of company objectives, and choice of market and entry-strategies. They also need to provide a rationale for how implementing your recommendations will lead to the company achieving the objectives you have defined.