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MKT550 | Market Entry and STP Strategy | Marketing

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Task

In this assessment, you progress to the second stage of developing the international marketing plan that you commenced in Assessment 1. Here you will develop the next steps in their international marketing plan.

Assessment 2 should be approached in two parts.

Part 1 of Assessment 2 requires you to evaluate all realistic market entry options for this organisation in your target country market (typically at least three, including your preferred option). These options should be discussed, covering advantages and disadvantages, how they might work and reasons for adopting or discarding each one, within the context of your company and the chosen market.

In Part 2 of Assessment 2, it is now necessary to identify potential market segments (target markets) in the chosen country and consider how they might be serviced by your organisation. You must show your understanding of the concepts involved and your ability to think through and express marketing strategy options. In justifying your choice for the segmentation, targeting & positioning (STP) strategies, you must:

· Explain the strategic approach you used to segment the market, and justify why you have selected particular target market segment(s) in the chosen market. These may be within the B2B sector, B2C or a combination; and

· Identify your recommended positioning strategies for each target market.

Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer.

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