Market Entry Problem
Part I: Segment(s) (about 1 to 2 pages)
Provide the characteristics of one segment which is your focus in this new entry market -which group of customers will you target? You need to introduce the segment giving demographic, behavioral, psychographic and geographical features; communication preferences should be mentioned; it is advisable to interview 1-3 prospective customers from the new market and prepare a Persona: find out about all the needs, expectations and customs related to the product you will be selling (refer to value proposition canvas); take into consideration how the culture of the new entry market differs from the market of origin and how it may affect your entry strategy.
Part II: Promotion(about 2 to 4 pages)
Prepare a promotion plan for the product launch in the new market (3 to 6 months); what will be your creative strategy and media strategy (communication channels); plan for advertising, PR, direct marketing/Internet, sales promotions, and personal sales (or chosen elements of the mix). Present your media plan in the form of Gantt's chart. There is no need to present a detailed budget, however, you must consider the efficiency (value for money/ cost-effectiveness) of the promotion activities in your marketing plan. How will you measure if the promotion renders results, as expected? Will you co-operate with a local marketing agency for the design/execution of this campaign?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.