Team Project – Global Marketing Team Assignment

Team Project

 

Global Marketing Team Assignment

(Worth 300 points or 30% of your final grade)

 

Select a product that could be sold in a different market – this could either be a product that is popular in the US that is not being sold in a specific international market (country or region), or a foreign-produced product that is not sold in the US.  Research the potential market for your product.  Who would it appeal to (segmentation and targeting)? How big is the market (potential market size)? Develop a marketing plan that includes the following elements:

1.  Environmental analysis of the new market. (CH 1-5)
2.  Hofstede’s Dimensions (CH 4).
3.  Decisions about standardization versus adaptation of the product. (CH 9)
4.  Financial considerations, including differences in the standard of living, exchange rates, possible tariffs, etc. (CH 2, 12)
5.  Recommendation on how to enter the market (export, licensing, joint venture, wholly owned subsidiaries, etc.) ( CH 8)
6.  Promotion strategy (local versus global theme) with sample advertisement included. (CH 9)

Research everything you can about your product and potential market.  I expect a minimum of 15 recent articles (APA format) that explain the factors in the target market (economic, technological, demographic, political, cultural), as well as the reasons why the product is needed and how well it fits the situation (or needs to be adapted to fit).

Pool your research product to share within the team.  After everyone has shared, I will provide a format so you may start putting together the paper.  Your finished effort should be 6 to 8 pages (single-spaced, Arial 10 pt with double spaces between paragraphs), along with a sample advertisement (either a print ad, sample social media ad, or storyboard of a television commercial), and the references used.

IMPORTANT:  I want you to apply what you have learned in the textbook as you discuss the marketing of your product.  Pay particular attention to the Chapters and topics listed above.

 

The team project is a semester long group project. You will be assigned a team of 4 or 5 students to develop a marketing plan to introduce a new product in a different country. Your team will choose a country and product to develop a plan that fits the demographics, culture, needs, political and governmental situation/ constraints.

Select a product that could be sold in a different market – this could either be a product that is popular in the US that is not being sold in a specific international market (country or region), or a foreign-produced product that is not sold in the US.  Research the potential market for your product.  Who would it appeal to (segmentation and targeting)? How big is the market (potential market size)? Develop a marketing plan that includes the following elements:

1.  Environmental analysis of the new market. (CH 1-5)
2.  Cage analysis of similarity or difference between the two markets (CH 1), and Hofstede’s Dimensions (CH 4).
3.  Decisions about standardization versus adaptation of the product. (CH 9)
4.  Financial considerations, including differences in the standard of living, exchange rates, possible tariffs, etc. (CH 2, 12)
5.  Recommendation on how to enter the market (export, licensing, joint venture, wholly owned subsidiaries, etc.) ( CH 8)
6.  Promotion strategy (local versus global theme) with sample advertisement included. (CH 9)

Research everything you can about your product and potential market.  I expect a minimum of 15 recent articles (APA format) that explain the factors in the target market (economic, technological, demographic, political, cultural), as well as the reasons why the product is needed and how well it fits the situation (or needs to be adapted to fit).

Pool your research product to share within the team.  After everyone has shared, I will provide a format so you may start putting together the paper.  Your finished effort should be 6 to 8 pages (single-spaced, Arial 10 pt with double spaces between paragraphs), along with a sample advertisement (either a print ad, sample social media ad, or storyboard of a television commercial), and the references used.

IMPORTANT:  I want you to apply what you have learned in the textbook as you discuss the marketing of your product.  Pay particular attention to the Chapters and topics listed above.

 

 

Here are some topics selected by past students to give you an idea:

Japanese Smart Toilet to US

Weber Grill in Myanmar

NFL in Mexico

Netflix in China

 

Regular group participation is required and if an individual fails to communicate regularly or to complete their part on time and with correct documentation and research, they can have individual points deducted from the grade that the group is assigned and in extreme cases

the team member can be completely removed from the group and receive a zero on the assignment.

 

Rubric for MKT420 (see next page)

Criteria Needs Improvement Meets Expectations Exceeds Expectations
Comprehensiveness Significant portions of the paper are ignored or simply mentioned; Paper is more of an outline than a fully developed strategy.

 

Most elements are covered thoroughly; some are mentioned briefly.

 

All elements are covered thoroughly and are well-elaborated.

 

Research Does not meet the minimum requirements for number of sources; Source quality is insufficient (outdated, biased, lacking in expertise, or inappropriate for a college paper, such as Wikipedia).

 

Meets minimum number of sources; Most sources are recently published; a variety of viewpoints are represented (not merely taken from a corporate website or blog).

 

Exceeds expectations for quantity and quality of sources.

 

Incorporates International Marketing terms and concepts

 

Rarely or never enlightens with demonstrations of course concepts; Just “answers the question” without tying the answer back to international marketing theory.

 

Applies international marketing concepts and terminology correctly, where appropriate.

 

Applies international marketing concepts with a balance of description and analysis; Examples are original and correctly applied.

 

Writing style

 

Many grammatical or spelling errors in the paper. Distinct differences exist between sections written by different students. Research sources are not cited or are incorrectly cited.

 

Generally well-written and edited so that the document “speaks with one voice”; few errors in spelling or grammar. Most research sources are cited correctly.

 

Extremely well-written and edited. Team projects are written in one voice. Uses APA style correctly. Grammar and spelling are correct. All research sources are cited correctly.

 

Rubric for MKT420 team project

 

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