BMK 372 BO1 International Marketing Strategy

Course: BMK372BO1 International Marketing Strategy Time TH 14:30 Room N112
Professor:
Dr. Cranmer Rutihinda
Office:
H-219 (extension 2445)
Email:
[email protected]
Office hours: Wednesdays 9-11
COURSE OBJECTIVES:
The main objective of this course is to enable students to develop skills for designing
international marketing strategies by critically examining and analysing existing cases
and creatively constructing their own marketing plan. At the end of the course the
students should be able to
1. Understand the complexity and challenges of international marketing.
2. Conduct an international marketing research
3. Develop a comprehensive international marketing plan
GRADING SCHEME:
1. Classroom participation
2. Midterm Test I
3. International Marketing Plan Project
4. Case Studies
5. Midterm Test II
6. There will be no supplementary exams
5%
35%
10%
10%
40%
NOTE:
 Tests and examinations will cover all work completed to date;
 Assignments are due at the start of the class indicated. Late assignments will not be
accepted; all assignments should be typed.
 Closing cases not presented in class by the group will not be accepted
 No supplemental (tests or examination).
 Participation grade will be based on the level of enthusiasm demonstrated through
asking questions, answering questions, creative comments associated with adequate
familiarity of assigned material.
TEXT
Keegan, W. J. and Green, M. C. (2011) Global Marketing 6th Edition. Prentice Hall
BMK 372BO1 International Marketing Strategy Winter 2013 course pack Bishop’s
University
METHOD OF INSTRUCTION
The teaching method used in this course follows the case-based discussion method
along with student presentations. Students will be assigned readings and cases to
prepare beforehand. Success of this course highly depends upon student preparation
before class and willingness of students to actively contribute to classroom discussion.
Case studies for this semester are found in a reader titled BMK 372B01 International
Marketing Strategy which is sold at the Bishop’s bookstore other readings can be found
on Bishop’s Moodle website.
TENTATIVE SCHEDULE OF ACTIVITIES
DATE
TOPIC
REQUIRED READING
Jan 8
Introduction and
Course Outline
overview
Jan 10
International Market Chapter 6
Research
Jan 15
International Market
Research
Case Study: Ruth’s Chris; The high stakes of International Expansion
Jan 17
International Market
Segmentation
Chapters 7
Jan 22
International Market
Segmentation
Case Study: Shanghai Jahwa: The Maxam Brand
Jan 24
Export and Import
Decisions
Chapter 8
Jan 29
International
Sourcing
Case Study: Nokia India Battery Recall Logistics
Jan 31
Internationalization
Strategy
Chapter 9
Feb 5
Internationalization
Strategy
Case Study: Case Study; Splash Corporation: International Expansion
Feb 7
International
Product Strategy
Chapter 10
Feb 12
International
Product Strategy
Case Study: Seven Eleven in Taiwan: Adaptation of Convenience stores in new
market environments
Feb 14
International
Branding Strategy
Case Study: Branding Orlando for Global Competitiveness
Feb 19
Feb 21
MIDTERM TEST
International
Distribution Strategy
Chapter 12
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DATE
Feb 26
Feb 28
TOPIC
International
Distribution Strategy
International
Communication
Strategy
March 4-8
March 12
READING WEEK
International
Communication
Strategy
March 14
International Pricing
Strategy
REQUIRED READING
Case Study: Rougemont Fruit Nectar-Distributing in China
Chapter 13
Case Study: The Global Branding of Stella Artois
Chapters 11
March 19
March 21
International Pricing
International
Marketing and the
Digital Revolution
Case Study: Mavesa’s Nelly Brand: Pricing to gain Market Control
Chapter 15
March 26
International
Marketing and the
Digital Revolution
Case Study: Decathlon: Using Social Media to Penetrate the Internet
March 28
April 2
MIDTERM TEST No. 2
Project Presentations
April 4
Project Presentations
IMPORTANT DATES
1. Feb, 2013 deadline for submitting project teams
2. Feb 19, 2013 Midterm Test
3. March 26, 2013 Deadline for submission of International Marketing Plan (both
hard copy and electronic)
4. March 28, 2013 Midterm Test No.2
ASSIGNMENTS
Reading assignments include text chapters, case studies and other required material
designated against topics in the course syllabus. Students will be required to read
current periodicals and journals to keep abreast of current international developments.
To ensure active student participation each student is required to read all reading
assignments prior to the respective class.
Group Case Presentations: Students are required to follow the following procedure to
analyze and present the case studies
 Identify the key international marketing issues
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Define clearly the basic problems in the case and identify the key decisions to be
made
Use the information and facts provided in the case to analyze the company’s
current situation (SWOT analysis)
Identify alternative strategy solutions
Recommend a course of action by selecting the most appropriate strategy
Update the company’s position by visiting the company’s website or other
sources
International Marketing Plan Project: You are required to write an international marketing
plan that will consolidate the entire course material. You are required to submit a project
proposal by January 30, 2012 and the final project is due on March 26, 2012. The project
should be done in teams of 4-5 students. No two groups are allowed to present the same
company. See project guidelines for further details.
PROJECT GUIDELINES
You will be required to prepare an international marketing plan of an existing company
for a new international market that the existing company has no presence. The company
can be a manufacturing, service or a non-for-profit organization. For smaller companies
with fewer product lines the entire offering of the company can be used but if you
choose to use a large company then you will have to use a single product line.
INTERNATIONAL MARKETING PLAN PROJECT GUIDELINES
Students are required to systematically conduct a company situation analysis, identify
countries with high market potential for a company’s products/services, conduct an in
depth market and competitive analysis, select the best country market, determine best
entry strategy for the chosen country, and develop a comprehensive marketing plan.
This project will help students to learn how to:
 Expand business globally.
 Perform a situation analysis in a global context.
 Practice how to research global markets.
 Identify high potential country markets for a company’s product/service.
 Conduct competitive analysis.
 Enter foreign markets.
 Develop international marketing/export plans and strategies.
 Use internet resources and information effectively.
There are numerous sources and types of assistance offered to Canadian exporters. Some
of those useful sources can be found in the following websites:
 Quebec Export Trade
http://www2.gouv.qc.ca/entreprises/portail/quebec/exportation?lang=
en&g=exportation
 Export Development Canada (EDC) www.edc.ca
 ExportSource www.exportsource.ca
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Industry Canada
http://www.ic.gc.ca/eic/site/icgc.nsf/eng/h_07101.html#anchorMenu
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Forum of International Trade Training (FITT) Inc. www.fitt.ca
Canadian Trade Commission Service
www.infoexport.gc.ca
Canadian Commercial Corporation (CCC) www.ccc.ca
Business Development Bank of Canada (BDC) www.bdc.ca
International Trade Canada (ITCan) www.itcan-cican.gc.ca
Canadian Trade Commissioner Service www.infoexport.gc.ca
World Development Indicators www.worldbank.org or http://ddpext.worldbank.org/ext/DDPQQ/member.do?method=getMembers&use
rid=1&queryId=6
Eurostat
http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home/
Global Marketing Information Database (GMID)
http://www.portal.euromonitor.com/Portal/Pages/Magazine/Welcom
ePage.aspx
Economist Intelligence Unit www.eiu.com
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The project should include four major sections:
1. Company Situation Analysis.
2. Determining Global Market Opportunities.
3. In-Depth Market Analysis.
4. Entry Strategy and Development of the Marketing Program
1.
COMPANY SITUATION ANALYSIS
Objective: To conduct an in-depth situation analysis of a chosen company.
1.1 Company Analyses:
 Research the company’s website and enter company’s background
information and mission statement.
 Research the company’s financial reports and enter financial performance
data: sales and profits.
 Choose a specific product/service or product line/services line of the
chosen company and decide on the merchandise mix to be included in the
overseas expansion.
 Describe the company’s strategies (production, marketing, finance, HR, global
involvement, strategic alliances, and offshore sourcing).
1.2 Int’l Involvements:
 Determine the company’s international involvement, if any, by researching
company’s website, and other sources.
 Evaluate the company’s international involvement.
1.3 Industry Analysis:
 Evaluate the performance of the chosen industry and identify industry
trends.
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1.4 Target Market Profile:
 Determine the target market for the company’s chosen product or services
domestically and internationally.
1.5 Product Profile
 Identify the nature of the company’s product/service and describe the
advantages and disadvantages.
 Determine product/service life cycle stage domestically and
internationally.
 Determine domestic and international factors affecting the company’s
product/service sales.
1.6 Global Readiness:
 Determine company’s readiness to do business internationally.
Conduct a S.W.O.T. analysis by listing the company’s strengths, weaknesses,
opportunities, and threats.
2. COUNTRY SELECTION
Objective: Identify high potential country markets for their chosen company’s product
or service for the purpose of possible successful international expansion of their
company.
Section 2.1 Country Selection:
Start by selecting five (5) countries
Section 2.2 Macro Screening:
 Determining the high potential markets for your company’s product/services
using specified criteria e.g. level of economic development, GNP, population,
exchange rate performance etc.
Section 2.3 Market Accessibility
 Select market accessibility variables that are essential in determining the high
potential markets for your company’s product/services
 Screen the remaining country by following the procedure described above in
section 2.2
Section 2.4 Micro Screening
 Select micro-level variables that are essential in determining the high
potential markets for your company’s product/services
 Screen the remaining country by following the procedure described in
section 2.2.
3. INDEPTH MARKET ANALYSIS
Objective: To identify the best target market country for the company’s
products/services by using an in-depth market analysis.
3.1 Contacts and Competitive Analysis:
 Develop appropriate business contacts for each of the target market
countries:
a. Agents/Distributors
b. Government agencies
c. Associations and organizations
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Develop a profile of the top two competitors of your company for each target
market country. Each competitor profile should include an assessment of
product attributes and benefits, market share, sales, market positioning,
competitor strengths and weaknesses.
3.2 Country Market & Company Sales Potential
 Determine the company's market sales potential and market share in each target
market.
3.3 Market Entry
 Analyze in details the current market-entry conditions for each target market
country. The market-entry analysis should include payments and financing
methods, import and export regulations, licensing, registrations, transportation,
and required market-entry documentation.
3.4 Market Channel Structures
 Analyze existing distribution channels in each country and determine their
appropriateness to company’s product/service.
3.5 Best Target Market Country
 Select the market with the highest potential by ranking each country using the
following criteria:
a. Quality and strength of your contacts in each country.
b. Degree and level of market competition in each country.
c. Highest market sales potential in each country
d. Most favourable market entry conditions in each country.
e. Most suitable market channel structure in each country.
4. ENTRY STRATEGY AND MARKETING PLAN
Objective: To develop entry strategies and marketing plans based on company’s
strengths and foreign market competition.
4.1 Entry Mode:
 Determine the best mode of entry for the company's product/service by
evaluating alternative entry strategies.
4.2 Market Segmentation:
 Develop marketing strategies and action plans that will most successfully
penetrate the target market country.
 Determine market segments based on demographic, geographic, socio-cultural
and/or psychographic segmentation.
4.3 Sales, Profits, & Market Penetration
 Based on in-depth analysis and estimates of sales potential for the target market
in phase 3, develop sales and profit objectives for the targeted market segments
over the duration of the plan.
 Develop market penetration and coverage objectives that fully exploit the market
opportunity.
 Determine if company’s product/service needs to be re-created, extended
and/or adapted.
4.4 Pricing Strategy:
 Determine best pricing strategy based on sales and value-added costs in the
target market.
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4.5 Promotion Strategy & Plan:
 Develop an effective promotional strategy by carefully matching company’s
resources with perceived product/service benefits and buyer behaviour in the
target market.
4.6 Distribution Strategy & Plan:
 Determine best distribution strategy for the company's product/service in the
target market.
4.7 Budgeting:
 Based on entry strategy and chosen marketing mix, create an international
marketing budget and profit plan that includes: cost of entry strategy, forecast of
future sales, projected income statement, and breakeven analysis for the target
market.
 Consider the company's existing organizational structure and whether it serves
the objectives of the company as best as it could.
5. SUGGESTED FINAL REPORT AND PRESENTATION FORMAT
5.1.
Suggested Project Report Format
 Cover Page
 Title Page
Executive Summary (Not more than one page)
 Purpose
 Methodology
 Key Findings
o Company Situation Analysis
o Determining Global Market Opportunities
o In-Depth Market Analysis
o Entry Strategy and Development of the Marketing Program
 Conclusions
 Recommendations
Table of Contents
 Introduction
 Company Situation Analysis
 Determining Global Market Opportunities
 In-Depth Market Analysis
 Entry Strategy and Development of the Marketing Program
 Summary, Conclusions and Recommendations
 Bibliography
 Appendix
o Screens from phase two
o Documents
o Power Point Presentation Outline
o Other
o Insert CD in a plastic or paper envelope as part of your paper
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5.2.
Suggested Power Point Format of Project presentation
 Purpose of the Project
 Methodology
-Process used to complete the project
-Type of data/sources
o Secondary sources
o Primary sources
 Key Findings:
-Company Situation Analysis
-Determining Global Market Opportunities
-In-Depth Market Analysis
-Entry Strategy and Development of the Marketing Program
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Conclusions and recommendations
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