Global Marketing Mix
This assignment will assess the Marketing Mix of an International Organization.
Select a Global Fortune 500 Company. Pick a specific product that the company offers in at least three different countries. Assess the Marketing Mix for this specific product in each of the three countries. It may be best to set up a chart and identify the Marketing Mix components for each of the countries. More specifically, you will want to consider:
a) Product – What are the basic product benefits, brand name, warranty, service, or innovative qualities?
b) Price – Currency exchange, any planned discounts during the year, method of payment accepted, or e-marketing (if applicable).
c) Promotion – Advertising, sales promotion, public relations, personal selling, etc…
d) Place (distribution) – Market entry method, channels of distribution, and channel cooperation.
A few resources to get you started:
http://fortune.com/global500/
http://www.forbes.com/global2000/
http://www.bea.gov/international/index.htm
http://www.economist.com/
http://www.census.gov/foreign-trade/statistics/notices/20140307_exh19.html
https://www.cia.gov/library/publications/the-world-factbook/
http://countryfacts.com/
http://www.factmonster.com/countries.html
http://www.state.gov/countries/
https://www.sba.gov/content/do-your-market-research
These are just a few examples of the endless amounts of resources and data you can find online. You are not limited to just these examples. If you have others, please share with the group.
Written Assignment Objectives:
Discuss the relative merits of standardization versus customization alternatives for global product (including services) strategies
Describe multinational diffusion theory
Describe global branding strategies
List and explain the driving forces behind foreign market pricing
List and describe methods of non-cash compensation frequently used in international transactions
Describe the constraints on global integrated marketing communication strategies
Discuss the advantages and disadvantages of the major integrated marketing communication tools available to international and global marketers
Discuss the importance of logistics in reaching foreign markets and the unique challenges presented by global logistics
PREPARE your written assignment as follows:
Thoroughly read the chapters in the weekly conferences and conduct additional outside research on country and business resources.
Review the following global marketing topics to ensure you understand the marketing principles and can demonstrate you can apply them in this case.
Be sure you understand all of the global marketing concepts covered in this written assignment and review these concepts in the course modules if needed (Module 3):
Marketing environment
Management orientations
Foreign market entry
Global branding principles
Product development
Branding
Pricing
Promotion
Distribution
SWOT analysis
Prepare thoughtful answers to the questions being asked!
Follow ALL the guidelines for writing and submitting your Written Assignment
The Written Assignment should be 4-5 pages in length except cover and reference pages.
