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Marketing managers for global organizations are often asked to evaluate the feas

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Marketing managers for global organizations are often asked
to evaluate the feasibility of new products and services and predict their
profitability for the organization. For this task, you will select a business
that would like to develop new products and services in order to attain a
competitive advantage in the global market. You will first consider the
products and services the company currently offers and recommend new products
and services that have the most potential for profitability based on your
evaluation. You will then identify the target market and consider how you would
reach that market using traditional mass media and social media for the launch
and beyond.
For example, a natural foods company may need to begin
offering an online ordering system to remain competitive. If you discover a
market exists for a new natural food product that is desired in other countries
but not readily available there, this might be a good product to recommend
adding, but you should first determine whether it is feasible.
Select a business from one of the industries listed below:
• agriculture
• banking
• hospitality
• healthcare
• retail
• transportation
• technology
Note: Please choose a business that can be adapted to a
global market. Any information that would be considered confidential,
proprietary, or personal in nature should not be included in the actual task
submission. Do not include the actual names of people, suppliers, the
organization(s), or other identifiable information. Fictional names should be
used. Also, organization-specific data, including financial information, should
not be included but should be addressed in a general fashion as appropriate.
Work performed for a client or an employer is their property and should not be
used without written permission.
REQUIREMENTS
Your submission must be your original work. No more than
a combined total of 30% of the submission and no more than a 10% match to any
one individual source can be directly quoted or closely paraphrased from
sources, even if cited correctly. The originality report that is provided
when you submit your task can be used as a guide.
You must use the rubric to direct the creation of your
submission because it provides detailed criteria that will be used to evaluate
your work. Each requirement below may be evaluated by more than one rubric
aspect. The rubric aspect titles may contain hyperlinks to relevant portions of
the course.
Note: Assessment should be submitted in Microsoft Word or
PDF format.
A. Develop a proposal for your chosen business’s
global strategic marketing plan in which you do the following:
1. Identify two new
products and/or services that the company can sell or offer to a global market.
a. Discuss three different
methods you used to determine that there is both a need as well as an existing
global market for these products and/or services.
b. Explain one competitive
advantage that the company will gain by offering these new products and/or
services to a global market.
c. Discuss two inherent
risks associated with launching the new products and/or services to a global
market and how to minimize these risks.
2. Discuss the customer
relationship management (CRM) software system you prescribe to track product
and/or service inquiries and sales.
a. Explain
how the information generated by the CRM software will be used to continue to
drive CRM practices and track sales in a global market.
3. Discuss at least one distribution
channel for the two new products and/or services.
a. Analyze key
considerations for entering a global market (e.g., regional trade alliances,
agreements, environmental forces).
b. Analyze how the global
supply chain may affect the product or service.
4. Discuss a major pricing
strategy (i.e., cost plus pricing, competition-based pricing, break-even-based
pricing, penetration-based pricing, premium pricing) aligned to your products
and/or services’ position within the overall market strategy of the global
marketplace.
a. Identify costs associated
with developing and launching the new products and/or services.
b. Evaluate consumer
acceptance of the price set for the new products and/or services.
c. Evaluate competitor
prices for similar products and/or services.
5. Discuss the promotional
strategy you will use to promote your products and/or services in a global
market.
a. Identify two mass
media and two social media channels you would use to promote
your new products and/or services in a global market.
i. Justify
why you chose these channels based on market segmentation (e.g., demographics,
psychographics, behavioral characteristics)
b. Discuss two sales
promotion activities (e.g., coupons, games, contests, sweepstakes) you would
use to promote your new products and/or services in a global market.
B. Acknowledge sources, using
in-text citations and references, for content that is quoted, paraphrased, or
summarized.
C. Demonstrate professional
communication in the content and presentation of your submission.

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