ATTN: International Mktg 404

Friday: Answer Davos Question…we will discuss in class Saturday morning.

Choose a product/service your group will market in your assigned country. Your weekend assignment/final:

Market Audit and Competitive Analysis

    1. Product
      1. Evaluate: relative advantage, compatibility, complexity, trialability, observabilty
      2. Major problems and resistance
    2. Market
      1. Describe: geographical region, forms of transportation and comm available, consumer buying habits, product use patterns, product feature preferences, shopping habits, distribution on the product, typical retail outlets, advertising and promotion, pricing strategy
      2. Compare and contrast your product and competition’s product
      3. Market size
      4. Govt participation in the marketplace

Prelim MK Plan

    1. Objectives
      • Target market
      • Expected sales year 20–
      • Profit expectations year 20–
      • Market penetration and coverage
    2. Product adaptation
      • Core component
      • Packaging component
      • Support services component
    3. Promotion mix
    4. Distribution from origin to destination
      • Port selection
      • Mode selection
      • Packing
      • Documentation required
      • Insurance claims
      • Freight forwarder
    5. Channels of distribution
      • Retailers
      • Wholesale middlemen
      • Import/export agents
      • Warehousing
    6. Price determination
      • Cost of shipment of goods
      • Transportation costs
      • Handling expenses
      • Insurance costs
      • Customs duties
      • Import taxes and value-added tax
      • Wholesale and retail markups and discounts
      • Company’s gross margins
      • Retail price
    7. Terms of sale
    8. Methods of payment
    9. Pro forma financial statements and budget
    10. Resource requirements
      • Finances
      • Personnel
      • Production capacity
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