The purpose of this miniproject is to gain experience in un- derstanding what it takes to move a product that is success- ful in its home market into a global market in which it will continue to be successful. Assume that you are the director of marketing for a firm that produces its own high-end brands of makeup, skin care, and hair care products for both men and women. The products have been endorsed by a number of male and female musicians who are highly popular with young people. The products are sold only in the company's own retail outlets. 2-31. Describe your local competitive advantage and why you believe this competitive advantage will serve you globally. 2-32. Determine which global market(s) is or are most attrac- tive for your products. Will you target a single country or an economic community? Describe your reasoning. 2-33. Decide which market-entry strategy you will pursue. Again, explain your reasoning. 2-34. Describe your marketing mix strategy: • How might you need to adapt your product? • What other product decisions do you need to make? • How will you promote your products? • How will you price your products? • What place/distribution decisions must you consider? Prepare a short presentation to share with your class.
The purpose of this miniproject is to gain experience in un- derstanding what it takes to move a product that is success- ful in its home market into a global market in which it will continue to be successful. Assume that you are the director of marketing for a firm that produces its own high-end brands of makeup, skin care, and hair care products for both men and women. The products have been endorsed by a number of male and female musicians who are highly popular with young people. The products are sold only in the company's own retail outlets. 2-31. Describe your local competitive advantage and why you believe this competitive advantage will serve you globally. 2-32. Determine which global market(s) is or are most attrac- tive for your products. Will you target a single country or an economic community? Describe your reasoning. 2-33. Decide which market-entry strategy you will pursue. Again, explain your reasoning. 2-34. Describe your marketing mix strategy: • How might you need to adapt your product? • What other product decisions do you need to make? • How will you promote your products? • How will you price your products? • What place/distribution decisions must you consider? Prepare a short presentation to share with your class.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Transcribed Image Text:The purpose of this miniproject is to gain experience in un-
derstanding what it takes to move a product that is success-
ful in its home market into a global market in which it will
continue to be successful. Assume that you are the director of
marketing for a firm that produces its own high-end brands
of makeup, skin care, and hair care products for both men
and women. The products have been endorsed by a number
of male and female musicians who are highly popular with
young people. The products are sold only in the company's
own retail outlets.
2-31. Describe your local competitive advantage and why
you believe this competitive advantage will serve you
globally.
2-32. Determine which global market(s) is or are most attrac-
tive for your products. Will you target a single country
or an economic community? Describe your reasoning.
2-33. Decide which market-entry strategy you will pursue.
Again, explain your reasoning.
2-34. Describe your marketing mix strategy:
• How might you need to adapt your product?
• What other product decisions do you need to make?
• How will you promote your products?
• How will you price your products?
• What place/distribution decisions must you consider?
Prepare a short presentation to share with your class.
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