Homework
With this homework you will complete the Global Marketing Plan for your mentor company that you began working. When submitting this homework, be sure to include the portions you completed and make any adjustments to the work from any recommendations.
In your paper,
• Under an Executive Summary heading (I have a did one before that can be used below)
o Summarize the rational of your plan. (I have a did one before that can be used below)
• Under an Environmental Analysis heading
o Analyze the environmental situation of your mentor company in global arena based on Economic, Trade, Social and Cultural, Political, Legal, and Regulatory factors. Then select a country in one of these regions: Latin America, Middle East, and Africa and provide a situational analysis of that country considering the following criteria: demographic, economic, trade, social, cultural, legal, regulatory, and political factors.
I want to say just a few words about the content of the abstract and the executive summary. The abstract tells what the overall topics of the paper are. The abstract is short, but it gives the description of what is found in the paper. The executive summary tells the highlights of what is in the marketing plan, the focus and strategy, the highlights. The executive summary will be longer than the abstract because it is hitting the highlights (hooking the company executive or perhaps investors and showing them what is possible in the new country or with the new product). Later in the plan you will have a section for the items you mention in the executive summary where you give the full detail but, in the summary, you are hitting some (not all) the highlights. You are selling the company on the idea of how and why they should make this huge investment in the product, country or both. Think of the summary as your "elevator speech". In other words if you get into an elevator with an investor, what would you say on that short elevator ride to get their attention and make them want to hear more?
Now you can see the reason I have requested titles be used throughout the paper as the work would be hard to follow without labeled sections. In a real marketing plan there are titles and visuals throughout because you want sections to be easy to find and you want visuals to represent the data when appropriate. Also, in a real world work environment when you use titles throughout your paper the computer system creates a table of contents for you so that people in your meeting can easily find the sections. A marketing plan without titled sections would not even make it to the table as it would take too long to fish through and read everything to figure out what is there and what isn't.
In real life you would work on a team and each person has a special area of research that they are pulling together. In the plan there will be ad samples, demographics, charts, tables, maps. We are doing a very scaled back version in this class. If you want more of the teamwork experience, reach out to classmates who are doing Samsung or Nigeria or other African Country or both and work with them in Global Campus Café and share resources. It is certainly not required but it does enhance the learning and it saves you a lot of work.
The political climate in a country might change a lot more frequently then the regulations that manufactures must meet. One example I can give you on regulations is the difference between owning a car in Illinois as opposed to California. Cars registered in California must have an annual inspection and must be equipped with special smog equipment. You could purchase a new car in Illinois and drive it to California as a visitor but you would never be able to register or insure the car in California. During the entire time they have had these regulations there have been several different political climates.
To improve for week 4 (because week 3 doesn't have a paper) please work on a journal and any notes that will help you going forward. I tell students to keep a list of all of the required and recommend resources for a class as they help later for review and are also a great resource.
As you are building this plan for the end of the class search out completed marketing plans in the library. If you have trouble locating plans ask the librarian and try to research as much as you can. Remember your Clifton's Strengths that you worked on in BUS621 and use this information to your advantage.
I recommend keeping up with your Folio and adding to it in each class and also, keeping a journal. In a journal I usually suggest that you save all of the lists of resources for the class (books, articles, video, PowerPoint) as these are a good review as well as resource for future classes and work projects. Just cut and paste the entire resources section with the required and recommended resources. I realize this may be different from what most instructors will tell you but this is real world, you will use this information again.
As always, I'm available, just an email away so send me your questions.
Thank you, Dr. Cigainero"
1. Discuss how market research, information systems and big data will help you understand the region better.
2. Under a General Strategy heading
• Explain your segmentation, targeting, and positioning strategy for that line of product in the new region.
• Discuss your market entry strategy including export selling and sourcing activities, if any.
3. Under a Specific Plans and Strategies heading
• Explain your competitive advantages strategies to compete against five industry forces.
• Formulate the 4Ps:
o Product and brands.
o Price
o Place
o Promotion with a special focus on digital media and IMC.
• Discuss the company's CSR and social responsiveness strategies particularly in the selected region.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.