You will be allocated an international market which you will complete a PESTLE evaluation of the market for potential business/product opportunities. This will provide a detailed understanding of how the market and trends to inform international marketing choices namely political, legal, economic, socio-cultural, technological and environmental. Some or all of these issues will have implications for developing a marketing strategy. The purpose of this evaluation is to identify potential market opportunities for the introduction of a product/service. You will then be required to select an Irish/UK based SME product which you would consider has potential for expansion into this country, based on your market evaluation.
You will develop a global marketing strategy for that country, for your chosen Irish or UK SME product/service. This will include (although not exclusively):
- Justifying the opportunity in the country for your chosen SME product/service and providing a background to this organisation.
- Provide an overview of the competitive landscape for your chosen SME offering in your allocated country.
- Develop and design an outline international marketing strategy. You will need to discuss the product and modifications (if any) to allow entry and market establishment, pricing decisions or changes, effective promotional efforts to establish awareness and establish market presence and distribution choices along with the key challenges to global expansion for the SME in this market. It is anticipated that you will be draw comparison with the domestic market to illustrate the necessary changes and choices.
- You will be required to ensure that the PESTLE and international marketing strategy are linked to justify your decisions and choices.
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