International Marketing Mix Strategy
The report should be no more than 1000 words, and the Appendices should be 1200 words, add extra information in the appendices and refer appendices in the report where possible. PLEASE SEE THE FILES I HAVE UPLOADED and I HAVE ALSO UPLOADED PREVIOUS ASSIGNMENT WHICH IS PART 1 TO HELP YOU, AND THIS IS PART 2 OF THE REPORT.
The assignment is based on the company Hard Yakka, its product is Workwear, and the selected country for the company is United Arab Emirates where it has to market its product so what strategy will it use to market its product. Use marketing mix strategy.
1.0 International marketing mix strategy
1.1 Product/service
1.2 Promotion
1.3 Price
1.4 Place (distribution)
2.0 Recommendation of market feasibility
In this section you will translate the analysis that you did in Part 1 into practical international marketing mix strategies. The marketing mix strategy you suggest should not be just a repetition of methods, but should be customised to your product, company and country. Show why your suggested strategies are better than others, and relate them clearly to your company’s situation. You should provide evidence to support your evaluation based on the situation analysis that you did in Part 1.
The reasons why you recommend particular international marketing mix strategies (the 4Ps) are just as important as what you recommend. Your claims and assertions must be supported by evidence and logical arguments demonstrating a sound understanding of the issues.
Here are some comments on the strategic issues to cover in your Part 2 assignment:
Product Strategy – Product adaptations necessary to make your product acceptable to buyers in your overseas market, any changes to its use or the benefits it offers, comparisons with competitors.
Pricing strategy – Price comparisons with competitors, an assessment of additional costs incurred by supplying internationally, foreign currency conversion, an estimate of the likely level of price competitiveness for your product overseas.
Place Strategy – Specific channel choices, channel management strategies, costs associated with establishing and maintaining channels.
Promotion Strategy – Your communication strategy, media selection, other promotional activities, the costs of them, what outcomes your company is seeking by using these.
The key to a high mark in Part 2 is to (1) research well – widely and deeply – so that you understand what you’re writing about; and (2) apply it directly to your company and product, so that what you write and recommend is realistic and relevant to your chosen subject company.