SMGT4460 International Business

Considering the strategy and entry method covered in the Part 1, who is the target market? • How would you convince this target customer to buy this product or service? • Are there cheap or free promotion channels that allow you to reach the decision-makers, such as mailing lists, social media groups, professional associations, expos and trade fairs, industry periodicals, or similar channels that are not as expensive as TV, but allow you to get directly to the decision-makers? How much will this cost and how frequently should it be done? Will you use a push or pull promotional strategy to market the product or service in the foreign market. Why? • What should be the main message of the marketing campaign focusing on the target market? Should the brand name or its presentation be modified to make the product culturally appealing to the tastes and traditions of the consumers in the new market? o Will you use a push or pull promotional strategy to market your product or service in the foreign market? Why? • Illustrate your knowledge of the target consumers in your chosen new market by developing a mock-up, locally-tailored marketing brochure, email, or webpage template, or social media post that your client can use to promote the product. It does not need to have perfect graphic design. It should only serve as a concept sketch for what the promo material should look like to be effective with the target market segment. Pricing Strategy • Develop the pricing strategy that will result in the highest profits in the proposed market, including the optimal price point, as well as the way the price should be charged (fixed per service price, subscription, bulk pricing, retention bonus, repeat customer discounts, financing, etc.) o How will you handle currency exchange and potential dumping? Product • Does the product or service need to be changed for the forei