Learning Outcome 1: Analyse the changing business environment globally and how they pose challenges to marketing management functions in organizations.
- Critically discuss the local, national and regional marketing approaches used by the organization
- Research possible international market entry methods and evaluate the benefits of each in relation to the organization
- Critically evaluate the influence of the changing business environment on the marketing management functions of the organization
Learning Outcome 2: Develop marketing strategies with the application of appropriate marketing models, tools, and techniques.
- Critically discuss how the selection for the international market will be made using marketing theories and principles.
- Apply tools and techniques to inform entry methods into the international market.
- Develop entry criteria for the international market for the organization.
Learning Outcome 3: Evaluate the processes involved in brand management and how they influence consumer behavior.
- Critically discuss the principle theories of brand management in relation to the consumer decision process and apply them to the organization you are working with.
- Analyze the psychological and sociological factors influencing consumer behavior and decision-making.
- Formulate a strategy, based on your research, for the organization’s product brand management in the international marketplace.
Learning Outcome 4: Decide how to launch new products/services in a dynamic global marketplace.
- Critically evaluate the strengths and weaknesses of the organization’s new product development process.
- Make recommendations for a marketing strategy that will expand the business in the international market.
- Create an international marketing plan for the launch of a new product/service
You must follow the Project Report format, which should contain the following sections:
Executive Summary: You should summarise your entire case study briefly. This should outline the key messages and be prepared in a format that would be suitable for presentation to the senior management team of the example organization.
Introduction: You should introduce your organization of choice, giving details, based on research, about its size, its product offering including any branding, and the market(s) in which it currently operates.
Literature Review: You should conduct a review of a range of relevant academic literature as well as data/information from at least three different sources and provide a critique/critical analysis of the current issues/concepts that are relevant to and potentially impact the international marketing environment and in particular to your case study organization. Your literature review should include at least 2-3 articles taken from reputed research journals/ article publications, as well as at least 2 secondary literature reports, company data/any other relevant data. It is expected that the findings of the literature review will be woven into the rest of the report as candidates are required to demonstrate critical thinking in this assignment task by applying the literature reviewed to the practical example organization.
Background Analysis: Candidates will critically discuss the local, national and regional context of marketing approaches employed by your chosen organization. You must then identify at least three possible international entry methods that can be used by your organization. You should evaluate the benefits of each method to the organization in terms of indicators such as forecasted market share, targeted market segment, or possible mergers or acquisitions. You must then critically evaluate the influence of the changing business environment on the marketing priorities and marketing management functions of the organization.
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Application of Learning to Practice: You need to compare actual practice at your organization with the key academic thinking established in the review of the literature. It may point out similarities and differences, agreements and contradictions, arguments and counter-arguments, and suggest explanations for these relationships.
The focus of this section will be on the following areas:
1. Marketing Strategies: Critically discuss the role of marketing theories and principles in the selection of an international market and in developing an entry strategy for the organization in an international market. As a minimum, you will discuss Porter’s Model/SWOT Analysis/PESTLE (one of these three models) and BCG Matrix/Ansoff Matrix (one of these two models). Candidates are expected to evaluate each model and tool by comparing and contrasting them in terms of their suitability for informing entry methods for your organization into international markets. You will then use each of these tools and techniques to critically analyze your organization and decide on entry criteria that would be beneficial for your organization. The outputs of this analysis will be used to synthesize ideas and develop the entry criteria strategies you wish to adopt for the international market of your chosen organization.
2. Brand Management: Critically discuss Keller’s brand equity model and apply it to your organization’s products. Thereafter, conduct research into at least four psychological and sociological factors influencing consumer decision-making and develop a branding strategy based on your research and data analysis. The strategy should propose forecasted responses and the conversion rate of prospective consumers.
3. New Product Development: Assess and evaluate at least 3 strengths and at least 3 weaknesses of the new product development process in your chosen organization and devise an international marketing strategy that will expand the business in the international marketplace. You should then include an international marketing plan for the launch of a new product or service which puts in place the recommendations of the strategy and includes timescales for completion and the area of the business responsible for the action.