1. Target Market Definition: Define the target market and make a profile of the customers of the company. The target market definition of the company may begin with segmentation. If the market is segmented then elaborate the basis for segmentation and define each segment and its characteristics. If the company does not have segmented markets then investigate and determine if segmentation is possible.
2. Estimation of Market Potential: Estimate the total market potential of the company with the help of past sales data. If data are not available then conduct your own estimate. The article, Waheeduzzaman (2008) delineates a few methods of market potential estimation. Read the article before using them for the study. You may use Table 1 for your analysis. The table is given as an example using durables possession data. Your actual table can be different from this one.
3. Competition: Determine major players in the industry and discuss the nature of competition in the country market. Suggest a competitive and positioning strategy for the company. The segmentation analysis, conducted earlier, should be useful here. You may use market share data, SWOT analysis, or other competitive analysis tools for this section. Keep the focus in the country of your choice.
4. Analysis of International Marketing Environment: Explain how the external environment affects the marketing efforts/functions of the company. Consider economic, demographic, technological, legal/political and social/cultural factors affecting the industry, company or product. Discuss how each of them affects the market. Specifically, identify those factors/forces that directly affect the marketing efforts of company in the country of your analysis.
5.
Designing of Marketing Mix: Determine the marketing mix for the company and suggest an implementation strategy. Explain each of the four Ps. Discuss product design and attribute, pricing, promotion and distribution. If needed, suggest separate marketing mix for each segment identified. Discuss standardization adaptation issues here. (Must complete part)
6. Conclusion: Conclude the study with strategy suggestion for the company, especially in marketing. Also, briefly discuss your learning experience here.