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The Country Notebook—A Guide for Developing a Marketing Plan
The Country Notebook Outline • I. Cultural Analysis • II. Economic Analysis • III. Market Audit and Competitive Market Analysis • IV. Preliminary Marketing Plan
III. Market Audit and Competitive Market Analysis
Guideline I. Introduction
The introduction is a brief statement about the purpose of the marketing program. It includes a description of the product, the marketing segment(s) targeted, customer needs and how this marketing program will satisfy those needs. II. The product Describe the product(s); its strongest features and major weakness; the stage in the product life cycle in the home country and in the target country. A. Evaluate the product as an innovation as it is perceived by the intended market
In this analysis of the product you plan to introduce to the target market, you are evaluating how the market perceives your product as an innovation. This analysis will help define the perceived strengths and/or weakness of your product in the target market which then provides you with the basis on which to build an effective market plan. For example, the market may not perceive any relative advantage of your product over the one presently consumed. This may be a signal to redesign the product, alert you to the need to inform the market about the product’s advantages, etc. or, the market may perceive that your product offer a major relative advantage over current products. In this case, your marketing can focus on this
The market In this section of your report you are to describe the total market. or must the consumer be educated to appreciate the product’s benefits? B. social. Complexity Would the product require special skills to be used properly? 4. Relative advantage Focus on evaluating the product within the culture. how can your marketing effort make it more compatible? The same for complexity. list the strengths and weaknesses for each of the five characteristics of an innovation as perceived by the market. The question you want to answer is. Trialability Can the product be tried (purchased) with minimum risk—economic. “What is the market in which you intend to launch a successful marketing program like?” It is in this uncontrollable environment that your marketing plan will have to be launched. and observability. III. Compatibility Is the product compatible with cultural beliefs.market perceived strength. the way other products fulfill the same benefit as local products? 3. 1. Major problems and resistances to product acceptance based on the preceding evaluation Based on the preceding evaluation of the product. Observability Are the uses and benefits of the product obvious to a potential customer. trialability. What are the strengths on which you can build? What constraints exist for which you must compensate? 2 . Is there an advantage of using your product over other products used to provide the same product benefit? 2. etc? 5. If the product is not perceived as being compatible with current practices. By conducting this audit of the market you will have a better understanding of market conditions.
TANG is consumed in social settings as a refreshment and rarely at breakfast..K.. Do use patterns differ for certain market segments as well as differ from other country market segments?For example. Shopping habits may also vary from market to market.S. product feature preferences. a product sold in a variety store may be sold only in pharmacies in some countries. Preference for specific product features may vary from market to market. Products that require little or no maintance may be preferred over products that must be maintained on a regular basis. For example. Product use patterns would describe how the product is used.S. but can only be sold by prescription in the U. In many countries. in the U. Geographical region(s) [insert text here] 2. In some countries males rather than females 3 . In some Latin American countries.. the breakfast drink TANG is consumed mainly at breakfast as a substitute for a breakfast juice drink. For example. Describe the market(s) in which the product is to be sold [insert text here] 1. and shopping habits. whereas in the U.S. Consumer buying habits Included in this section are product use patterns. most razor blades are sold in packages of five or more.What market features are available for you to utilize in successful marketing program? Who is your competition and what are their strengths and weakness? A. razor blades are sold in single packages. Simple magnifying reading glasses can be purchased in a variety of stores in the U. Forms of transportation and communication available in that (those) region(s) [insert text here] 3. in poorer countries single item packaging or small quantities may be preferred over multiple item packaging or larger quantities.
and consumed over several days.S. Is this the case in your country? a. When a product is purchased may varying depending upon its use patterns. a. Advertising media usually used to reach your target market(s) 4 . in Mexico a large percentage of soft drinks are bought in small corner stores. Product-use patterns [insert text here] b. identify the media necessary to reach target market(s). Shopping habits [insert text here] 4.. Advertising and promotion Based on the characteristics of the product and the availability of advertising media. most soft drinks consumed with meals are bought in supermarkets in multiple packages. Product feature preferences [insert text here] c. Product sales by other middlemen [insert text here] 5. In some countries cinema advertising or traveling exhibitions are important media. Typical retail outlets [insert text here] b. chilled at home. Distribution of the product Are nontraditional distribution methods necessary to successfully penetrate the market? a. In the U.customarily do the buying. in single bottles already chilled and taken home to be consumed immediately with a meal. For example.
Competitor’s product(s) In this section. Types of discounts available [insert text here] B. In other words. Pricing strategy [insert text here] a. product features. Features [insert text here] c. include the competitive product brand names. and packaging. Customary markups [insert text here] b. Compare and contrast your product and the competition’s product(s) Who are the major competitors in the market? How will consumers perceive your product relative to the competition? 1. Brand name [insert text here] b. etc.) [insert text here] 6. a. coupons. a complete description of competitive products. Package [insert text here] 5 .[insert text here] b. Sales promotions customarily used (sampling.
Agencies that can help you [insert text here] 2. Estimated sales for your company for the planning year [insert text here] D. Estimated industry sales for the planning year [insert text here] 2. Regulations you must follow 6 . Competitor’s distribution channels [insert text here] C. as best as you can. Market size Your challenge in this section is to determine. the market size today and the potential market five or so years in the future. 1.2. Competitor’s prices [insert text here] 3. Competitor’s promotion and advertising methods [insert text here] 4. Government participation in the marketplace [insert text here] 1.
briefly summarize (one-page maximum) the major problems and opportunities requiring attention in your marketing mix. 7 . Sources of information [insert text here] VI.[insert text here] IV. Appendixes [insert text here] V. Executive summary Based on your analysis of the market. and place the summary at the front of the report.
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