You are employed by an organization with an established brand which currently operates at a national level. Your manager has asked you to evaluate the potential for your organization to expand internationally. You need to select an international market for the brand and fully justify this selection through an STP analysis of the market. You need to evaluate whether the marketing strategy for the brand should be adapted or standardized around the marketing mix. You should give advantages and disadvantages of a standardised adapted or local approach.
N.B. You can choose any product, service or brand to be marketed internationally.
N.B: it is strongly advised that you prepare an additional 500 words background related to your organization’s marketing. This can be applied within the body of your assessment, but does not constitute part of the 1500 word count.
Prepare a report detailing an analysis of the Segmentation. Target and positioning (STP) strategy you intend to focus on in your chosen country. This must demonstrate comprehensive research and be supported by statistics and theories from key referenced sources
Once the STP is clearly analysed, evaluate the extent to which a standardised, adapted or glocal approach will be recommended in your chosen international market. The focus of your international marketing strategy will be the price P of the marketing mix.
Take one assessment criteria
- Knowledge and understanding- Critically evaluate a company’s analysis
- Knowledge and Understanding – Critically identify countries with high market potential for a specific company’s product/services.
- The ability to engage in analytical analysis and critique of situational analysis
- The ability of knowledge and understanding is shown through the development of conceptual structures and use of scholarly conventions.
- Independence of thought is demonstrated through an analysis of standardisation adaption and glocal theories.
Points to consider;
Clearly identified and justified choice of an international market
A detailed analysis of the STP you intend to focus on in your chosen international market.
- The advantages and disadvantages of standardisation and adaptation should be clearly identified.
- The rationale behind the choice of standardisation and adaptation should be clearly analysed.
- Concise explanation of ‘glocal’
- Glocal strategies should be applied and evaluated in regard to your chosen organization and international market.
- Price strategy to include a range of strategy but must justify market penetration, skimming or neutral pricing.