Marketing homework help. TERM PROJECT Guidelines
Overview
The project is a business analysis and proposal to expand an existing or new product and/or service (from hereon, the “offering”) into the team’s assigned emerging market (EM) which the Project Group (acting as president of the business unit) will present to the class (acting as the Executive Committee of the corporation), seeking approval-in-principle to proceed. The proposal will not include an exhaustive financial justification; rather, it will apply the lessons learned in this course and seek to demonstrate the profit potential of the offering opportunity and the problems that need to be overcome in order to achieve success in penetrating the assigned EM. You have already received your team-country assignments which were made on a completely random basis.
Toward this end, you are to identify an offering that either currently exists in your assigned country (AC) or will be newly introduced there by you. If it is currently being marketed in your AC, make sure that the offering is either failing or has not reached its potential, so that you will be in a position to suggest strategies to improve its performance. (In other words, do not choose an offering that is already successful in your AC.)
With respect to weight, Phase I and Phase II are each worth 20% while Phase III is worth 60% of the entire Term Project assignment.
Required Steps
PHASE I:
Market Size/Potential Assessment: Begin by selecting several candidate offerings that are fit to be your focal one to market in your AC, then reduce the number to one final offering that you will work on..
a) If the offering is already being marketed there, examine its performance to ensure that it has been disappointing and that it has not reached its potential which, you have determined, certainly exists.
b) If the offering is new to your AC, again, make sure you clearly identify that there is indeed a market by doing a thorough market assessment.
Whichever you choose to work on, you need to calculate your selected offering’s its approximate market potential in your AC, and justify your choice fully. As you do so, think Uncle Toulmin! I and the audience will ask you to back up your choice with quantitative and qualitative evidence. You need to submit supportive diagrams, charts, numbers, etc., and of course, the bibliography of sources you have used.
Submission Content: Be mindful of the Toulmin method, meaning be concise and specific in your writing; edit out all repetitions and irrelevant material and have a valid evidence for all your claims. (Use your numbers, charts, what not in the Appendix for this purpose). Also be mindful of submitting a fully professional piece of work with proper grammar and proper citation of others’ work. Use the APA Style Guidelines for proper citations; the same style that is adopted in your IB8090 course.
Submission Format: Maximum two pages of text excluding the Appendices and Bibliography; typed 12 font, 1.5 space; any Appendices you attach must serve a purpose and be referred to in the text, do not attach any document that does not support any claim. Be selective in your choice of Appendices; more is not necessarily better, actually too many only serves to distract the reader.
Submission Date: September 8, 2020
PHASE II:
Environment Assessment: Use your CAGE and PESTEL frameworks as well as all the other pertinent tools you have learned in IB 8090, such as the RCII, et al. to assess the CHALLENGES and OPPORTUNITIES that each of these macro-environmental factors impose upon your project of marketing your selected offering in your AC. I will post a sample (it is only a sample!) PESTEL analysis on our site with the realization that it is only one of the many ways to utilize that framework. Go online to choose the best that fits your offering and AC.
Submission Content: Be mindful of the Toulmin method, meaning be concise and specific in your writing; edit out all repetitions and irrelevant material and have a valid evidence for all your claims. (Use your numbers, charts, what not in the Appendix for this purpose). Also be mindful of submitting a fully professional piece of work with proper grammar and proper citation of others’ work. Use the APA Style Guidelines for proper citations; the same style that is adopted in your IB8090 course.
Submission Format: Maximum three pages of text excluding the Appendices and Bibliography; typed 12 font, 1.5 space; any Appendices you attach must serve a purpose and be referred to in the text, do not attach any document that does not support any claim. Be selective in your choice of Appendices; more is not necessarily better, actually too many only serves to distract the reader.
Submission Date: September 18, 2020
PHASE III:
Marketing Strategy: In this section, you are to describe the basic elements of your proposed entry and marketing strategy. Most of what you do in this phase will be informed by the work you complete in the previous two phases as well as the topics covered in Chp. 18 of the Hill book, my power points and lectures on marketing. Below is the general outline to follow. Details will be filled in under the subheadings as we continue to cover the elements of marketing strategy.
A. Marketing Goals
B. Value proposition and STP
C. Product/Service Strategy (Cover standardization vs. adaptation in this context.)
D. Pricing Strategy (Cover standardization vs. adaptation in this context)
E. Advertising and Promotion Strategy (Cover standardization vs. adaptation in this context)
F. Distribution and Logistics Strategy (Cover standardization vs. adaptation in this context)
Submission Content: Be mindful of the Toulmin method, meaning be concise and specific in your writing; edit out all repetitions and irrelevant material and have a valid evidence for all your claims. (Use your numbers, charts, what not in the Appendix for this purpose). Also be mindful of submitting a fully professional piece of work with proper grammar and proper citation of others’ work. Use the APA Style Guidelines for proper citations; the same style that is adopted in your IB8090 course.
Submission Format: Maximum five pages of text excluding the Appendices and Bibliography; typed 12 font, 1.5 space; any Appendices you attach must serve a purpose and be referred to in the text, do not attach any document that does not support any claim. Be selective in your choice of Appendices; more is not necessarily better, actually too many only serves to distract the reader.
Submission Date: October 6, 2020
