International Product Expansion Project
Once a company decides to move into international markets, it must determine what products it will offer and whether to standardize or adapt its promotional materials. The successful launch of a new product requires the support of management and line staff. Introducing a new idea can be more successful when key people in the organization buy into the concept. Convincing others to support your idea requires persuasive communication skills. Persuading others that your venture
will be successful requires that you have a unique idea, and that you have researched its feasibility.Select a company that does not currently have an international presence for any of their products are offered today. Pressure has come from the CEO to increase the availability of the product to foreign countries at an economy price. Your group is expected to assess the extent that the company can meet the demand necessary for profitability in a chosen country over the next year and provide sound rationale behind your group’s final decision. Consumer and business dynamics in the marketplace (competition, segments, social customs, class structures, politics, religion, family life, etc.) company limitations (business operations), and the factors influencing potential profit (i.e. shipping, distribution, taxes, etc.) must also be considered.
The management team is placing the responsibility on your group to determine a recommendation for their consideration. They are not looking for a group that just assumes that they want expansion and develop a plan accordingly but they are looking for the team to provide honest feedback and notify them if expansion is not warranted providing that the rationale and research supporting why is depicted.The project consists of two major parts: Business Proposal Wiki and presentation. You will work in a team to develop an international business proposal and produce a thoroughly researched, well written wiki that also contains a video presentation of the information represented on each page of the wiki. The Business Plan Wiki will contain the following information:Business descriptionMission/vision statementMarket analysisCultural AnalysisCompetitive analysisMarketing planOperational planFinancial planEach page of the Wiki will be fully researched using reliable and valid resources (e.g. peer reviewed articles, valid websites, actual company information, etc.). Sections/pages will include:RESPONSIBLE
FOR: Business description & Cultural Analysis.
Pre-Written Pages: 2
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