Sales goals, profit (loss) forecasts, and budgets
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MarketingPlan2.docxUniversity of Florida AEB 4343 International Agribusiness Marketing
International Marketing Plan
Teams will:
1) Create a phantom agribusiness company.
2) Select an agribusiness product that can be marketed to a significant, identifiable segment of final consumers.
3) Research two countries as possible target markets.
4) Select one country as the target-country market and justify selection based on market research and the company’s assets, vision, and goals.
5) Develop a marketing management strategy.
6) Develop a strategy implementation plan.
7) Present the final marketing plan in class.
8) Submit the final marketing plan with an executive summary.
In addition to the final marketing plan, three interim reports will be due throughout the term:
1) The company assessment and target country/market selection
2) The marketing management strategy
3) The strategy implementation plan
The due date for each interim report will be correlated with discussion of relevant reading material. Together, these three reports (after revisions), along with the executive summary, will comprise the final marketing plan. Each team member will complete a learning assessment and a peer evaluation of fellow team members’ contributions to the project.
Presentations will occur during the final exam time slot. Each presentation should be approximately 15 minutes long with 5 minutes left afterwards for questions (a total of 20 minutes). Students are required to submit an assessment of each presentation. Presentations will be given in order of group number, but groups may agree to trade presentation slots.
The final marketing plan (typed, double-spaced, 12 font using Times New Roman, standard margins) needs to include, at a minimum, the following:
I. Company Assessment and Target Country/Market Selection (interim report tentatively due February 14)
Company Assessment
· Firm history, products, operations, and resources in the United States (home country)
· Home-country industry structure, competition, demand, customers, firm’s industry position
· Explanation of motivation and decision to internationalize
· Assessment of company readiness to internationalize
· Company vision and commitment statement
Target Country/Market Selection
· Identification of at least two potential target-country markets and discussion of relevant historical and projected country statistics (economic, social, cultural, political, regulatory) for each
· General assessment of the competitive environment in each country
· Explanation of and justification for the selection of your target-market country
II. Marketing Management Strategy (interim report tentatively due March 21)
· A strategic plan of how you are going to “go global”
· Segmentation, targeting, and positioning decisions
· Sourcing decisions
· Market entry and expansion strategies, including the use of intermediaries
· Competitive analysis and competitive strategies, including any cooperative strategies
III. Strategy Implementation Plan (interim report tentatively due April 11)
· Product, price, promotion, distribution, terms-of-sale, method-of payment, and risk management decisions
· International organization and procedures (how you will organize your company)
· Sales goals, profit (loss) forecasts, and budgets
· Implementation schedule, procedures for review and measurement of results against plan
· Brief SWOT analysis of your company as it enters the “international” market
IV. Final Plan with Executive Summary (tentatively due April 30)
· A 2-3 page executive summary providing an overview of the entire marketing plan
· Table of contents
· Revised versions of reports I, II, and III
· References
· Appendices (if any)
· Should be approximately 25 pages long, not including the executive summary, table of contents, references, and appendices
Resources
a) The UF Business Library provides an excellent collection of resources for market research. I may setup a specific course guide with the business librarian.
http://businesslibrary.uflib.ufl.edu/home
b) The U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) provides step-by-step assistance for companies considering exporting.
http://www.fas.usda.gov/topics/exporting
c) The USDA’s Economic Research Service (ERS) provides summarized data and reports on prominent agricultural commodities and topics.
d) Export.gov provides a comprehensive introductory guide to working with developing export markets.
e) TradePort is a repository of free information and resources for businesses seeking to conduct international trade to and from California. Created in 1996, TradePort is backed by an alliance of regional trade associations that assist California export and import businesses.
f) Country-specific GAIN Reports and FAIRS reports are reports generated by FAS/USDA field offices. As you attempt to identify potential export markets, these guides provide very detailed information about market opportunities and regulatory requirements in each country.
g) The Federation of International Trade Associations (FITA) founded in 1984, fosters international trade by strengthening the role of local, regional, national and global associations that have an international mission. FITA provides resources, benefits, and services to the international trade community and useful tools to help you do business globally.
h) USDA Exporting Goods is a website/portal designed to provide potential and current agricultural and food exporters with timely information about international markets.
i) Several other organizations and websites provide background information and statistics about countries and their market potential. These include the CIA World Factbook, The Economist magazine, Gapminder, the Organisation for Economic Co-operation and Development (OECD), the World Bank, the Food and Agriculture Organization (FAO) of the United Nations, etc.
https://www.cia.gov/library/publications/the-world-factbook/
http://www.economist.com/markets-data
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