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For this exercise we will be using the country England:
Your companyâ€™s board of directors is interested in the international marketing plan proposal and has asked you to do a cultural audit. Your audit will explore two main areas: (1) cultural factors related to doing business in this particular country, and (2) a competitive analysis.
Develop a PowerPoint presentation organized as follows:
- Cultural Factors
- Slide 1: Briefly describe the countryâ€™s history and its relevance to its current cultural state today.
- Slide 2: Identify customer demographic trends that are related to business activities in this particular country.
- Slide 3/4: Briefly discuss customers and traditions of the countryâ€™s citizens and how these can possibly influence business there.
- Slide 4/5: Identify and discuss language issues and any other cultural implications of introducing your product in this country.
- Slide 6: Provide an assessment of the geographic region and why this is a good fit for your companyâ€™s product.
- Competitive Analysis
- Slide 7/8: Analyze the industry in this particular country. Perform a SWOT analysis. For more on how to conduct a SWOT analysis, see http://articles.mplans.com/how-to-perform-a-swot-analysis/.
- Slide 8/9: Based on what you learned in the competitive research, apply the four Ps of marketing to your specific product by outlining the following:
- Product (the features and benefits of the product)
- Place (one possible outlet to sell the product in this particular country)
- Price (one price strategy to consider in this particular market based on your competitive analysis)
- Promotion (one promotional strategy to consider in appealing to your new global customers)
- Slide 9/10: Conclusion: Based on everything you researched, present a brief analysis of any similarities between the domestic and international markets, any particular challenges and how you will manage those challenges in your selected country.