International Marketing Plan

International Marketing Plan Outline Md. Imdad Hossain Khan.MBA (East West University, Dhaka, Bangladesh) For any suggestions please mail, [email protected]

EXECUTIVE SUMMARY—prepares a single-spaced, 2-page (maximum) summary of the major points of your marketing plan and places it at the front of the document 1.

INTRODUCTION—introduce the product to be marketed in your country and briefly explain your rationale for choosing this product

2.

CULTURAL ANALYSIS—thoroughly describe the country in which your product is to be marketed, selecting pieces of information that show how or why your product is suitable to the country’s culture. You may or may NOT include all of the following pieces of information: Geographical Setting Location Climate Typography Country’s relevant history and/or recent events Description of Political System Political Structure and Parties Stability of Government Population and Demographics Total Population Size Growth rate Birthrates Distribution of Population (by) Age Sex Races or Ethnicities Geographic locale (urban, rural) Economic Statistics and Descriptions Gross National Product (GNP) Total Rate of Growth in real GNP Personal Income Per Capita Average Family Income Distribution of income (by) Income or Social classes Proportion of population in each class Is the distribution distorted? Inflation Rate Government Social Programs Social Security

Health Care Labor Force Size Unemployment Rate Typical Working Conditions Principal Industries Portion of GNP contributed by various major industries Ratio of private to publicly-owned businesses Foreign Investment Rate of Which industries? Types of Minerals and Resources Transportation—Modes and Availability Communication Systems—Modes, Availability, and Usage Rates International Trade Statistics Major Exports—Dollar Value and Trends Major Imports—Dollar Values and Trends Balance-of-Payments (Surplus or Deficit?) Currency strength and stability and current rate of exchange General Trade Restrictions and discussion of trade environment Tariffs, Quotas, License Fees, Import Taxes, etc. Memberships (WTO, Trade blocs, NATO, UN, etc.) Description of Religion and It’s Impact on Daily Life Prominent religions Membership size and power Language Official languages Dialects Description of Daily Life and Lifestyles Male/Female Roles in Society Typical and popular foods available and meat/vegetable consumption rates Types of housing available (single-family, multi-family, etc.) Do most people own or rent? Recreation/sports/and leisure activities Types available and in demand Percent of income spent on such activities Impact of Technology (Available technologies and skill level of the general population and labor force) Availability and Impact of Media—this section reports data on all media available within a country. Later you will select specific media from among these as part of the promotional mix strategy for your product. Availability of Media Availability of agency assistance Percentage of population reached by each medium

Availability of Channels of Distribution—this section reports data on all channel middlemen available within the country. Later you will select specific channels as part of your distribution strategy. Retailers—number and typical size (small or large) of retail outlets/role of chain stores, department stores, and specialty stores Wholesalers—number and typical size/cash or credit operators? Other types of available agents or intermediaries III. COMPETITIVE ANALYSIS—this section describes the competitive situation facing you in your focal country. Compare and contrast your product with competitors’ products Competitive brands available in the market Features Packaging Pricing Promotion and advertising methods used Relative market shares and strengths enjoyed in the market Estimated industry-wide sales (or volume) for year—all brands Market Conditions Faced Forms of available transportation and communication in the region Consumer buying habits—product feature preferences, use patterns, and shopping patterns Distribution of similar or competitive products—typical retail outlets used and sales by other middlemen Advertising and Promotion Media that can be used to reach target market Sales promotions customarily used in this product category (samples, coupons, etc.) Pricing—customary markups and types of discounts available for this kind of product 3.

MARKETING PLAN Describe the target market(s) in which the product is to be sold Geographic region(s); demographics, lifestyles, etc. Product Brand Name—origin and significance Positioning Strategy Evaluate the product as an innovation as it is perceived by the intended market Discuss also major product problems and resistances based on the preceding evaluation Marketing Objectives Target market (specific description of the market) Expected market share or market penetration rate Expected sales in dollar volume

Product Strategy Product differentiators or competitive advantage Packaging Support Services Promotion Strategy Major message thrust Advertising—media mix, reach, costs Sales Promotion—forms, objectives, and costs Personal Selling Miscellaneous promotional methods Distribution Strategy (Macro) Port Selection Origin Port Destination Port Mode Selection—Specify your mode of choice and discuss the advantages/disadvantages of each mode for reaching your country (Railroad, Air carrier, Ocean carrier, Motor carrier) Documentation Required Bill of Lading Dock Receipt or Air Bill Commercial Invoice Shipper’s export declaration Statement of Origin Distribution Strategy (Micro) Warehousing Needs Retailers—Type of retail stores, scale of operation (large or small), and retail markup Wholesalers—Type of wholesalers, scale of operation, and wholesale markups Import/Export Agents Pricing Strategy Handling Expenses (pier charges, wharf age fees, loading/unloading charges) Customs duties Import taxes Wholesale and Retail Markups Company’s gross margin Retail price Methods of Payment (cash in advance, open account, consignment, sight/time/date draft, letter of credit, etc.) Government Participation Agencies that can help you Regulations you must follow Budgets and Profitability Analysis Marketing Budget Product Cost Distribution expense Selling expenses

Advertising and promotion expenses Other Costs Annual profit and loss statement (first and fifth years) V. REFERENCES/SOURCES OF INFORMATION VI. APPENDICES (if needed)