Develop a marketing strategy for a hypothetical large domestic company that desires to extend business in a foreign market
For this week, you will write a paper and provide a video presentation. You have been tasked to develop a marketing strategy for a hypothetical large domestic company that desires to extend business in a foreign market (preferably select from the following industries: motor vehicles, food products, food services, general merchandisers, and specialty retailers). Using the concepts learned in this course, you will prepare a marketing strategy to assess this company’s global decision and the market potential for its existing product/brand or new product development.
Be sure your report addresses each of the following:
Assess the most appropriate management orientation approach(s) for achieving great opportunities for the company in the foreign market.
Explain how the understanding of cultural differences is an integral part of your global marketing strategy. For this company to succeed, it is important that it understands consumers’ culture in the foreign market.
Assess the challenges associated with segmentation, targeting, and positioning in the foreign market.
Develop a global marketing mix strategy (4P’s) that illustrates how your company should adjust its strategy to adapt to the foreign market environment. This includes an assessment of the following issues: price discrimination, channels of distribution, product characteristics/attributes, and promotional activates.
Length: 7-10 pages, not including title and reference pages
You will also integrate the global marketing strategy elements into an 8 to 10-slide PowerPoint presentation with speaker notes summarized from the report and present this in a 5-10-minute Kaltura video. This global marketing strategy will be presented to the company’s forum of directors, CEO, and chairman.
References: Include a minimum of 5 scholarly resources.