International Business Entry Plan (220 points)
- This is an individual project.
- The student is required to follow the guideline as much as possible.
- All sources used should be cited in a bibliography.
- Absolutely no plagiarism. You work will be run through a plagiarism software program.
- The project is not to be written as an essay, but like a project report.
- It should be in a word document.
- Font: Times Roman New and font sized 12, double space, no minimum number of pages, just make sure you cover all or near all parts mentioned in the outline.
|Main sub-topics to be discussed||Points||Cumulative points|
|Detailed introduction of the project/service and the targeted country. Include product / service definition and details on the reason for entering the target country.||20||25|
|Barriers Are there any legal barriers that need to be overcome in order to enter the market? For example, you need a license to enter the pub trade. Cultural/language considerations Consider whether you will need an export license to enter a particular international market. What are the limitations to trade, such as high tariff levels and quotas? Knowledge and training in exporting procedures?||20||45|
|Product or service Look at the product or service that you are intending to sell. Consider the following questions: How easy is it to maintain?Does it have a unique selling point (USP) or direct competitive advantage (DCA)?Is it fashionable?Does it have limited appeal? If yes, would a new market be receptive?Will it be in demand for a long or short period of time?Is it easy to transport or will it need special treatment?Is the product restricted abroad? (e.g. tariffs, quotas or non-tariff barriers)Are there product modifications required?||40||85|
|Resources Work out how much of your company’s resources can be dedicated to launching in the new market – factor in time and the organizational, marketing and technical skills needed. Will you be stretching your resources too tightly? It is better to keep a small customer base happy than to dissatisfy a larger one.||35||120|
|Competition Look at the competition – is it aggressive? Are most of the suppliers to your target market domestic or international? Will this impact on your likely success? How will you position yourself in the market to stand out from competitors?||35||155|
|Public policy Find out whether the government offers subsidies or takes taxes from the market in question. Are there any governmental incentives for exporters from your home country?||20||165|
|Having decided that it is viable to enter the market, the next major decision is that of pricing. Just how much should be charged for the product or service? Also consider the basis on which you will sell the goods, i.e. who is responsible for the various exporting costs? Take into account the following costs: ProductionPackagingTransportationPromotion||40||205|
|Implementations and Conclusions||15||220|
The outline is developed with inputs from six different websites.
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