You have been asked by your Global Marketing Director to explore international market expansion opportunities for your product line. As International Brand Manager of one of the products list below* you must evaluate the cultural environment of a potential target market to gain a better understanding of any impacts for an international marketing mix strategy there. Produce a 2000 word report which addresses the following:
– Identify and critically analyse at least 2 cultural challenges the company might face in a new international market, using relevant cultural theory. ?[1000 words]
– Select 1 aspect of the products marketing mix which will need to be adapted in light of your cultural research and critically evaluate using relevant academic marketing mix theory ?[1000 words]
*Choose one from the following:
Energy Drinks (or similar)
Food (not fast food)
NB: Your choice of country must be DIFFERENT to your own nationality. e.g. if you are a Chinese student you must assume you are launching a product from China INTO a different foreign market
– Introduce report: brief background of the company & product offer; the potential international market segment
– Cultural analysis of the foreign market using relevant secondary research & theoretical cultural frameworks to gain depth of insight into the culture & behaviour of a potential target market for your product. Should you target the same or different target segment to the home market?
Tip: ?Use/build on information gained from class based activities undertaken ?during ?the module to help inform your cultural market analysis.
– Marketing Mix Adaptation: Now, based on the cultural analysis, critically analyse the adaptation and/or standardization requirements of the marketing mix elements, focusing in particular on one marketing mix element. Consider the strategic implications, rather than merely making operational recommendations.
– Theoretical Analysis: you must demonstrate evidence of wider reading and critical application of relevant theory including a range of cultural theory and relevant marketing mix related theory.
?Tip: ?show how the cultural analysis relates to the marketing mix strategy ???make sure you show the link!
– Conclude your report by summarising the key findings
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