Local businesses and their aspirations to become international

The assignment will enable you to understand the local businesses and their aspirations to become international. You will also understand the various constraints these UAE companies face while going for market expansion. Entry mode Strategies you will use in entering the foreign market and the reasoning behind the success of the company in that particular country.

Local businesses and their aspirations to become international

“Strategies to enter International Markets”
Learning Outcome:
CLO-5. Formulate strategies for sustainable competitive advantage of organizations operating in an international environment
Marks Allocation: 10 Marks

Project Tasks
The assignment will enable you to understand the local businesses and their aspirations to become international. You will also understand the various constraints these UAE companies face while going for market expansion. Entry mode Strategies you will use in entering the foreign market and the reasoning behind the success of the company in that particular country.
The student should work as if he represent a large multinational company planning to expand operations to a new country.

1. Selecting a product:

The focus of this course is exclusively on consumer products, as they offer more opportunities to focus on cultural adaptation than do most industrial goods. When selecting your product, consider two factors. First, the product should have obvious cultural overtones to provide a strong cultural impact to the project. Second, the product should be one that you know something about. Products meeting these criteria include: baby food, disposable diapers, powered milk, high-protein diet supplements, prepared foods such as dry soups, soft drink mix, children’s toys, instant noodles, franchise outlets etc. While your choice is not limited to the above products, you must choose a real brand from an existing company.

2. Marketing Mix

Product Decisions:
Firstly, Describe your product in some detail including special features, reasons to buy, etc.

Secondly, Attitudes toward foreign products in the target country

 

Thirdly, Strategic alternatives: extension, adaptation, or invention

Fourthly, How many do you expect to sell (and justify it)

Pricing Decisions:
Firstly, Your pricing objectives and strategies

Secondly, Environmental influences on your pricing decisions

Thirdly, Cost of goods sold; at what price will you sell your product? (And why?) • Total revenue expectations

Place Decisions:

Your channel objectives

Also, What channels of distribution will you select (with descriptions of members of the channel: Retailers, Wholesale Middlemen, etc.)?

Promotion Decisions:
Firstly, Who is your target audience?

Secondly, Your promotion objectives

Thirdly, Types of promotion (Advertising, Sales Promotions, Personal Selling, or others), with reasons of selection

Fourthly, What will be your basic advertising message? What media will you use and why?

Further, Proposed promotion expenditures

3. MES Analysis

This third module requires a Market Entry Strategy Analysis (MESA) for the product in the country. The strategy formulated must reflect conditions in the country and address a range of issues such as entry mode, pricing, and promotion.

4. Resources Required
What are the resources needed to manage the new initiatives? Provide an approximate idea of the cost of investment required (Budget for employees, rent, machinery and other resources etc.)

5. Conclusion and Recommendations
After analyzing and tentatively proposing a market entry strategy for the company’s product in the foreign country, you have to answer the questions: Why have chosen the specific strategy? What are the chances of success for your product in the targeted country? You have the option of recommending to market or not to market the product in the country. The value of a decision not to market the product is as important as that of a decision to market.
You must justify your decision.

 

Posted in Uncategorized

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>