Part 4: DEVELOPING INTERNATIONAL MARKET-ENTRY STRATEGIES:
(a) In your group, discuss, decide, justify, and develop your International Market Entry Mode and your Marketing Strategies for internationalizing and marketing in that new target-country you have finally selected in Part 3.
(i) – Compare and contrast various market-entry modes (methods) in Internationalization of market, including Exportation, Strategic Alliances (partnerships, joint ventures, licensing, franchising), and Full Direct Investment (foreign marketing divisions, semi-autonomous subsidiaries, or fully autonomous subsidiaries), looking at the advantages and disadvantages of each one.
(ii) – Decide which entry mode to propose to your company for internationalizing into that chosen country and justify your decision.
(iii)- Discuss whether you propose standardization or adaptation of your brand and marketing-mix strategies in that foreign market, and justify your decision based on all you know already about that country and its people, culture, and market potentials.
(iv) – State two clear Marketing Objectives you plan to achieve in that foreign market at the end of your first business year. Prepare a summary of your Strategic Marketing Plan showing the Marketing-mix Strategies (products, Price, Place, and Promotion) you plan to implement in the market in the first business year in order to achieve your 2 specific objectives.
