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InternationalMarketing-MKT3130-MarketAttractivenessAssignment-FINAL.docxMKT 3130 – International Marketing – Dr. J. Doyle
Individual Assignment: Market Attractiveness Evaluation Assignment
*** Due by Canvas upload ***
Expected Length: Five pages (12 pt. font, double-spacing)
Instructions
For the nation you studied for the purpose of completing the Foreign Relations assignment, please evaluate the attractiveness of that consumer market for a new product produced by an American company in one of the following product categories (you choose the product category that interests you most):
· Birth control
· Denim clothing
· Eyewear
· Frozen beef products
Please note: You are free to further define the product category in order to fit your interests, etc. For example, you can choose to specifically investigate condoms (as a type of birth control), denim pants (as a type of denim clothing), contact lenses (as a type of eyewear), etc. It is important that you clearly define the product category in your paper, however.
You are requested to consider several issues as you evaluate the attractiveness of this consumer market for the new item in the product category you have chosen. Although you are free (and are even encouraged) to consider additional issues that you believe are important to market attractiveness in the relevant product category, it is necessary that you assess:
· Market size and growth prospects
· Number of consumers generally, number of consumers with the relevant need/opportunity to purchase, number of expected purchases annually, amount spent in the product category, etc.
· State of the economy, including growth prospects
· Political stability, including threats thereto
· Technology access and well as general social development (e.g., literacy, etc.)
· Attitudes in the country toward the United States and toward American brands
· Quality of the bilateral relationship between the United States and the country you have chosen, including existence of treaties, tariffs, and other trade-related (dis)agreements related to your product category
· How the culture of the nation relates to or is consistent/inconsistent with your new product category
For any additional issue you discuss, please ensure you explain its importance or relevance to market attractiveness.
You are also to conduct your analysis considering the performance quality level of this new product.[footnoteRef:1] The company, which you are to assume is based in the United States and has a seventy-five year history of operating in the United States, is considering a prestige market offering, a mass market marketing offering, or a simplified version of the product. You are specifically requested to make a recommendation keeping the following information in mind: [1: You can assume that performance quality is positively reflected by the manufacturer’s suggested retail price.]
|
Product category |
Product versions and pricing levels |
||
|
|
Prestige version |
Mass market version |
Simplified version |
|
Birth control (equivalent to one month supply) |
$62.99 |
$24.99 |
$9.99 |
|
Denim clothing |
$93.99 |
$37.99 |
$14.99 |
|
Eyewear |
$124.99 |
$49.99 |
$19.99 |
|
Frozen beef products (one meal, 2 adults in the domestic market) |
$24.99 |
$9.99 |
$3.99 |
Note: Please assume that all prices are company averages for the product category and are in U.S. dollars as of October 2019. These are the manufacturer’s domestic-market suggested retail prices.
The outcome of your analysis should be a recommendation to the organization as to which version of the new product should be most seriously and firstly considered for introduction into the consumer market. Finally, I would be looking for you to develop a corresponding competitive position for the new product at the recommended performance quality/pricing level; as an outcome of this competitive positioning decision, I would be looking for a statement of the product’s unique selling proposition. Please note that the competitive position for the new product would be supported by and need to be consistent with pricing, performance quality, distribution intensity, promotions, and other aspects of marketing mix decision making.
Note: It is expected that your report will have a covering page. As always, your work must be presented in paragraph form with full and complete sentences and must not contain any spelling, grammar, or punctuation error(s). Tables and illustrations are not to be included in the page count, and (in general) should be included at the end of the report as appendices. As always, it is necessary that you properly cite and reference all sources. Points will be deducted if you do not follow these instructions.
