Step 1: Remind your reader of what company you are working for and what specific product/service you will be discussing (include this in an introductory paragraph)
Step 2: Discuss Global Expansion – Identifying a New Target Market in a New Country
Select a country to sell this product in. Select a country you are unfamiliar with and one that this product is not currently being sold in. Discuss the following points:
What country have you selected?
Why have you selected this country?
Who will be the target market in this country (who will be the targeted consumer)?
Discuss demographic, psychographic, and behavioral characteristics (use outside resources to help you with this section).
What features of your product are important to potential customers in this country?
Should company be concerned with cultural differences when selling their product in this country? Why/Why not?
Discuss why an environmental analysis is so important
Step 3: Cultural Issues
What cultural issues should the company be aware of in terms of product design, packaging, or marketing in this country (look at cultural differences)?
Step 4: Marketing and Promotion
How will you sell your product in this country? What method is best: export, license, franchise, joint venture, merger, acquisition, or direct investment? Why?
What factors in global expansion can be controlled? What factors in global expansion cannot be controlled?
How will you market this product in the foreign country? Develop a marketing plan using online tools for your product in the new country. What forms of media will you use? How will you “brand” the product in this country? This is your own personal ideas and opinions based on your research during the semester.