Description
** This is a group report project, the company we choose is Meraas which based in the United Arba Emirates and wants to enter to South East Asia. We choose Malaysia, Singapore and Thailand for our countries. We selected to enter to Singapore after we have done PESTEL and BERI analysis.**
** I need to do an implementation for Singapore and break down when we would implement what, I have attached the work I have done so far + a sample report regarding the implementation part **
PART 1: INTRODUCTORY STEPS – SELECTING A TARGET MARKET-REGION:
Step 1: (a) Working in your group of 5/6 students, select a company headquartered in the UAE/MENA region, and select a specific brand of product (goods or services) made by that company.
(b) Your group is to act as the International Marketing Division of that company, charged with the responsibility to prepare a proposal for the strategic internationalization of that brand into a foreign market in a region outside the MENA region.
Step 2: (a) Select one region of the world outside the MENA region from the list below:
1. West Africa
2. Eastern Africa (Except MENA countries)
3. South America
4. North & Central Asia (Former USSR)
5. Central Africa
6. Far East Asia (China/Mongolia/Japan/North Korea/South Korea)
7. South-Eastern Asia
8. Southern Africa
9. Eastern Europe
10. Western Europe
11. Oceania (Australia/New Zealand/Papua New Guinea)
12. North/Central America
(b) Select three (3) initial countries in that region to be examined with PESTAL analysis and screened with BERI Index (in Parts 2 and 3) in order to choose one final country (after the screening) that you will develop both Foreign Market Entry Mode and Strategic Marketing Plan for internationalizing into (Part 4). Step 3: Research the backgrounds of the region and the 3 countries, and write your short introduction for the report by summarising the backgrounds of your company and the three countries and justifying why you have chosen them from the region.
PART 2: SEGMENTING AND IDENTIFYING TARGET FOREIGN-MARKETS BY ANALYZING/COMPARING THEIR INTERNATIONAL MARKETING ENVIRONMENTS.
PART 3: EVALUATING INTERNATIONAL MARKET INVESTMENT OPPORTUNITIES USING MARKET-SCREENING PROCESSES.
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.
(vi) – Include your implementation time-line indicating your timetable for implementing the various marketing activities that will make up your strategic marketing program during your first business year in that new foreign market.
** Please note that I need to do the Implementation part**
