Market Entry and STP Strategy
Length: 3500 words
Submission method options
Alternative submission method
Task
In this assessment, you will continue to use the country and focus organisation you worked on in Asst 2. Here you will develop the next steps in their international marketing plan.
Part 1 requires you to evaluate all realistic market entry options for this organisation in your target country market (typically at least three, including your preferred option). These options should be discussed, covering advantages and disadvantages, how they might work and reasons for adopting or discarding each one, within the context of your company and the chosen market.
In Part 2, it is now necessary to identify potential market segments (target markets) in the chosen country and consider how they might be serviced by your organisation. You must show your understanding of the concepts involved and your ability to think through and express marketing strategy options.
In justifying your choice for the STP strategies, you must:
• Explain the strategic approach you used to segment the market, and justify why you have selected particular target market segment(s) in the chosen market. These may be within the B2B sector, B2C or a combination.
• Identify your recommended positioning strategies for each target market.
More detail on what should be included in these sections is available in the Project Guide in Resources.
Rationale
This assessment has been designed to:
• demonstrate the application of the knowledge gained in the subject to the development of strategies in an international market;
• allow you to develop your information searching and critical thinking skills; and provide you with further experience in academic writing
On successful completion of this assessment, you should:
• be able to interpret and assess the impact of marketplace variables on marketing practice in the global marketplace;
• be able to select markets and justify market entry options; and
• be able to create justifiable and effective marketing strategies.
Marking criteria
Criterion Fail Pass Credit Distinction High Distinction
Critical analysis skills – Student applies and integrates critical analysis when selecting and justifying marketing strategies
Value 30% No evidence of independent investigation, original questioning and analysis. No attempt to take and understand multiple perspectives Little evidence of independent investigation, original questioning and analysis.
Attempts to take and understand multiple perspectives Some evidence of independent investigation, original questioning and analysis. Takes and understands multiple perspectives and through these can provide a critical discussion of the relevant issues Evidence of independent investigation, and original questioning and analysis.
Independently takes and understands multiple perspectives and through these can provide an insightful critical discussion of the relevant issues. Strong evidence of independent investigation, original questioning and analysis. Independently takes and understands multiple perspectives and through these can provide an insightful and/or exhaustive critical discussion of the relevant issues
Application skills – This criterion is about linking theory to a specific context
Strategic perspective This is about strategic recommendations for the company
Realism – This is about practicality/realism in the country context
Communication – This is about the presentation of the work including: Structure, Format, Grammar
Value 15% Poor grammar, spelling, punctuation, concepts were not clear, materials difficult to read – no tables or figures, inconsistency in style and content between sections. Word count is 10% over or under limit.
Some grammatical errors, sentences were clear and complete, clear structure and formatting, some diagrams, but not explained and only decorative, some inconsistencies in style and content. Adheres to word limit. Adheres to word limit.
Free of grammatical errors. Structure and format were clear. Sentences were well constructed. Language was concise. Excellent use of relevant graphics Clear consistency in style and content. Adheres to word limit. Free of grammatical errors. Structure and format were clear, logical and consistent. Sentences were well constructed. Exceptional use of clearly relevant graphics. Obvious consistency in style and content, with relevant links between sections. Adheres to word limit.
Referencing Skills
This criterion is about the application of APA referencing Application was still inconsistent with some points remaining unreferenced. Both in-text and reference list were consistent in terms of style and application of APA
Presentation
This Asst should be a maximum of 3500 words. Please use headings/sub-headings to highlight changes in topic.
‘In your own words’ is critical in displaying your understanding of the material, rather than being expert at copy and paste.
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