Assignment Overview:
Your group are marketing consultants who have been approached by a market-leading Irish company of your choice which is yet to enter the international marketplace. The director of the company informs you that, due to stagnant growth in local markets, the company is planning to expand its operations internationally. As this would be the first time the company is to be exposing itself to the international market, the board of directors would like to see a detailed research report regarding the outlook of the company’s expansion internationally.
Written Component (50% overall module marks):
Your job is to deliver a report encapsulating how the company can successfully enter and expand into the international market, focusing on contributions to business strategies in the international market.
Introduce the chosen company, defining the international marketplace and highlighting key differences between the domestic and international market.
Evaluate the scope of international marketing and its main concepts. Explain the reasoning behind the company of your choice to market to an international audience by analysing market potential and the marketing mix with relation to the products/services it provides.
Devise ethical and efficient marketing strategies; utilise PESTLE.
Market entry strategy should be defined and explained. The use of examples can further help accentuate the various strategies at hand for the organisation, including both the benefits and drawbacks of each.
Assess the crucial principles as well as the selection process which the business could utilise in the process of choosing which international market to move into – use a SWOT analysis.
Analyse the business of your choice’s plan to adapt novel marketing strategies for the international markets and the potential for market segmentation to effectively include various different target markets.
Evaluate the relationship between marketing management as well as other organisational activities involved in international operation, such as the establishment of channels as well as co-operation with channel intermediaries.
Include a conclusion as well as recommendations as to the approach the business should take to enter the international market.