Do You Remember The Final Project You Will Be Working On ✓ Solved

Do You Remember The Final Project That You Will Be Working On The Enti

Your company has decided that it needs to engage in a more diverse market. You have been tasked with developing a marketing plan to promote a product or service. For this project, you will choose the format based on your area of interest. MBA students will expand their product or service into two markets: one in an undeveloped or developing country, and one in a developed country.

HCA students will develop a marketing plan to promote two new service lines to two diverse target audiences within their community. HSM students will develop a marketing plan for their projected hospitality business, including two service lines. This involves designing a new product line, brainstorming, and prototyping a new product for the chosen company.

Alternatively, students may choose to upload a plan to design a new service line, brainstorming and prototyping it for their chosen company. Another option is to adapt an existing marketing campaign for an underdeveloped or developing country by researching the culture, customer needs, and related factors of a target country. Then, they will determine how to market the new product or service in that region, either by modifying an existing campaign or designing a new marketing effort tailored to that country or specific demographic group.

Sample Paper For Above instruction

In the increasingly globalized marketplace, developing culturally sensitive and geographically targeted marketing strategies has become essential for business success. The diversity of markets—ranging from developed to developing nations—requires tailored approaches to meet unique consumer needs and preferences. This paper explores the development of a comprehensive marketing plan for a new product line, considering international market expansion and cultural adaptation strategies.

Initially, the process begins with selecting a suitable product or service that has potential for international extension. For instance, a health and wellness company might choose to introduce a line of organic dietary supplements globally. The development of the marketing plan involves a detailed analysis of target markets—focusing on a developed country such as the United States and a developing country like Kenya. Each market presents different challenges and opportunities, necessitating customized strategies.

In the developed country context, marketing efforts rely on digital advertising, influencer collaborations, and health-centric branding to appeal to health-conscious consumers. Consumer behaviors are characterized by high awareness of product benefits and strong brand loyalty. Therefore, marketing campaigns in this context focus on emphasizing product efficacy, certifications, and environmental sustainability to attract target consumers.

Conversely, in the developing country market, considerations such as cultural beliefs, income disparities, and local practices shape strategy. Here, community-based approaches, local partnerships, and education about health benefits are crucial. For example, engaging local health workers to promote the supplement’s benefits ensures cultural resonance. Additionally, pricing strategies that account for lower disposable incomes, such as tiered pricing or micro-packaging, increase accessibility and adoption.

The adaptation of marketing campaigns across these diverse markets involves linguistic customization, imagery that reflects local culture, and messaging that emphasizes relevant benefits. In the United States, campaigns might focus on natural, eco-friendly ingredients, while in Kenya, messaging may emphasize improved health outcomes and affordability. Social media platforms are leveraged differently according to regional popularity; Instagram and Facebook tend to be dominant in the U.S., whereas WhatsApp and local radio may be more effective in Kenya.

Furthermore, understanding regulatory environments is key. In the U.S., emphasis is placed on compliance with FDA regulations and Fair Trade certifications, whereas Kenyan markets require navigation of local import laws and adherence to advertising standards for health claims.

In conclusion, effective international marketing requires a nuanced understanding of cultural, economic, and regulatory factors. Tailoring campaigns to local contexts enhances relevance and receptivity, ultimately leading to greater market penetration and sustained growth. Such strategic localization not only fosters brand loyalty but also demonstrates respect for cultural diversity, a fundamental principle in global marketing.

References

• Kotler, P., Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Czinkota, M. R., Ronkainen, I. A., & Moffett, M. (2014). International Marketing (10th ed.). Cengage Learning.
• Hollensen, S. (2015). Marketing Management: A Relationship Approach. Pearson Education.
• Ghauri, P., & Cateora, P. (2014). International Marketing. McGraw-Hill Education.
• Keegan, W. J., & Green, M. C. (2017). Global Marketing. Pearson.
• Yip, G. S., & Hult, G. T. M. (2019). Total Global Strategy. Pearson.
• Levitt, T. (1983). The Globalization of Markets. Harvard Business Review, 61(3), 92-102.
• Samuelson, W., & Zeithaml, V. (2014). Consumer Behavior and Marketing Strategy. Journal of Business Research, 67(1), 10-17.
• Porter, M. E. (1986). Competition in Global Industries. Harvard Business Review, 64(2), 47-60.
• Slater, S. F., & Narver, J. C. (1995). Market Orientation and the Learning Organization. Journal of Marketing, 59(3), 63-74.