Marketing  for global organization

Marketing  for global organization

 

Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.

 

For example, a natural foods company may need to begin offering an online ordering system to remain competitive. If you discover a market exists for a new natural food product that is desired in other countries but not readily available there, this might be a good product to recommend adding, but you should first determine whether it is feasible.

 

Select a business from one of the industries listed below:

• agriculture
• banking
• hospitality
• healthcare
• retail
• transportation
• technology

 

Note: Please choose a business that can be adapted to a global market. Any information that would be considered confidential, proprietary, or personal in nature should not be included in the actual task submission. Do not include the actual names of people, suppliers, the organization(s), or other identifiable information. Fictional names should be used. Also, organization-specific data, including financial information, should not be included but should be addressed in a general fashion as appropriate. Work performed for a client or an employer is their property and should not be used without written permission.

 

 

 

 

 

 

 

 

 

 

 

 

 

1.  Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:
2.  Identifytwonew products and/or services that the company can sell or offer to a global market.
3.  Discussthreedifferent methods you used to determine that there is both a need as well as an existing global market for these products and/or services.
4.  Explainonecompetitive advantage that the company will gain by offering these new products and/or services to a global market.
5.  Discusstwoinherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.
6.  Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.
7.  Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.
8.  Discuss atleastone distribution channel for the two new products and/or services.
9.  Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).
10.  Analyze how the global supply chain may affect the product or service.
11.  Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.
12.  Identify costs associated with developing and launching the new products and/or services.
13.  Evaluate consumer acceptance of the price set for the new products and/or services.
14.  Evaluate competitor prices for similar products and/or services.
15.  Discuss the promotional strategy you will use to promote your products and/or services in a global market.
16.  Identifytwomass media and two social media channels you would use to promote your new products and/or services in a global market.
17.  Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)
18.  Discusstwosales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.
19.  Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.

 

1.  Demonstrate professional communication in the content and presentation of your submission.

 

 

Rubric

 

The 2 new products and/or services are appropriately identified.

 

The provided discussion includes 3 different methods. The discussion is well reasoned and sufficiently supported.

 

The provided explanation includes 1 competitive advantage that the company will gain. The explanation is complete (provides detail on how the company will gain the competitive advantage), clear, and appropriate.

 

The provided discussion includes 2 inherent risks associated with the launch and how to minimize the identified risks. The discussion is well reasoned and sufficiently supported.

 

The provided discussion of the customer relationship management system is adequate. The discussion is well reasoned and sufficiently supported.

 

The provided explanation is complete (provides detail on how the information generated by the CRM software will be used), clear, and appropriate.

 

The provided discussion of at least 1 distribution channel is adequate. The discussion is well reasoned and sufficiently supported.

 

The provided analysis of key considerations is sufficient. The analysis is well reasoned and sufficiently supported.

 

The provided analysis of how the global supply chain may affect the product or service is sufficient. The analysis is well reasoned and sufficiently supported.

 

The provided discussion of a major pricing strategy is sufficient. The discussion is well reasoned and sufficiently supported.

 

The costs associated with developing and launching the new products and/or services are appropriately identified.

 

The provided evaluation of consumer acceptance is sufficient. The evaluation is well reasoned and sufficiently supported.

 

The provided evaluation of competitor prices is sufficient. The evaluation is well reasoned and sufficiently supported.

 

The provided discussion of the promotional strategy is sufficient. The discussion is well reasoned and sufficiently supported.

 

The discussion appropriately identifies 2 mass media and 2 social media channels.

 

The provided justification of why the media channels were chosen is sufficient. The justification is well reasoned and sufficiently supported.

 

The provided discussion of 2 sales promotion activities is sufficient. The discussion is well reasoned and sufficiently supported.

The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available.

 

Content reflects attention to detail, is organized, and focuses on the main ideas as prescribed in the task or chosen by the candidate. Terminology is pertinent, is used correctly, and effectively conveys the intended meaning. Mechanics, usage, and grammar promote accurate interpretation and understanding.