PLEASE USE THIS OUTLINE:
ACME GLOBAL
Industry/Product to be launched ______________
Home Country _____________
Foreign Country ______________
1. Introduction – Define Acme Global’s industry (e.g. cosmetic and fragrance industry) in the home country and describe the product or product line (e.g. a line of lipsticks) it will feature in its expansion to the new foreign country. Research and provide an informational/data overview of the industry in the country you will launch to (e.g. Peru’s cosmetic and fragrance industry) – use the industry profile template from class #8 as a guide-file attached for reference. List the foreign and home country’s population to provide a potential size of the opportunity. Provide an overview of the business (revenue minus expenses=profits!) opportunities and challenges you foresee for this launch. Conclude the introduction with a few sentences of an executive level recommendation on why you believe this country is a good choice for Acme Global. Check the internet for any current events on the country that could affect your report. A good general resource for this report is: https://globaledge.msu.edu/global-insights/by/country
2. Economic Development – Research and provide expansion implications for your marketing mix (4 Ps) of the country’s economic development in terms of 1) GDP 2) GDP trend/forecast 3) GDP per capita and 4) Key target segments within the country (for example Mexico has a per capita GDP of only $10,000 but has 318,000 millionaires, so if you were expanding the Tesla company to Mexico, you would have a “total addressable audience” of over 300k potential customers!”
GDP information source: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD
3. Trade Profile – Research and describe the level of free trade in the country (tip: use the 1-10 scale used in the class #3 poll to help characterize-slide attached for reference). What is the level of the country’s trade surplus or deficit and consequently your assessment of its economic situation? What is the level and implication of the country’s debt https://www.usdebtclock.org ? Describe any relevant trade barriers/protection (e.g. tariffs, embargoes, sanctions, quotas, etc.) that could impact your business. Does the country participate in any relevant WTO, IMF, or World Bank programs? What trade agreements with other countries is it involved in that could help support your business? (e.g. the US-Mexico-Canada trade agreement supports certain business between those 3 countries). Summarize this information in terms of opportunity vs. risk. In summary, provide rationale that this country is a viable candidate for Acme Global’s expansion.
4. History and Geography: Research the country’s history and geography and provide relevant details as to its influence/impact on the country’s culture and potential implications of Acme Global’s launch there.
5. Cultural Profile – Use the Hofstede index and the website www.commisceo-global.com/resources/country-guides to create a detailed cultural profile of the country. Define your customer target and explain your rationale as to why you believe Acme Global could engage the target consumer’s needs/wants in the long-term. Explain your overall marketing strategy (one sentence) and how you would standardize or adapt certain elements of the marketing mix (Product, Place, Promotion, Price) to succeed. This is not a business plan, so in-depth details of your marketing mix are not required, however, any details or recommendations of elements of the 4 Ps will build credibility (think of the Fidelity Investment Greece class activity).
6. Political, Corruption and Legal Landscape: Apply course learnings to create a government, corruption and legal profile of the country that provides useful information for launch and details pros and cons as well as potential risks. Assess the stability, level of crime, as well as the political position (liberal, center, conservative) of the current government as it relates to foreigners conducting business in the foreign market. Use these sources as well as your own research: https://globaledge.msu.edu/global-insights/by/country
7. Conclusion/Recommendation: Summarize your findings and topline your best business (revenue-expenses=profits!) rationale (from your report, not any new information) as to why your recommended country is a strong candidate for international marketing expansion for the company. Remember, this is the last chance to convince your reader, do not skimp/”run out of gas” here….finish strong!!!!
Free Market Scale.pptx
Industry Market Landscape & International Marketing Company Evaluation Templates.pptx