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Strategic plan for development of a US product for sale in a foreign market

I need help discussing a product that is currently available in the United States, and that would be good to market in another country. Then, I need a developed portion of the strategic marketing plan that includes the following:

1. Briefly explain the country in which you have chosen to market the product and why you selected that country.

2. A marketing mix and a competitive advantage for the product. Explain how these will be similar or different from the current strategies that are being used in the United States and why there are similarities or differences.

3. A pricing strategy, a price, and a rationale explaining the price of each of your products. Remember to consider turnover, competition, and elasticity of demand in your strategy. Explain how these will be similar or different from the current strategies that are being used in the United States and why there are similarities or differences.

4. A media strategy for marketing the product including an image and position to be developed, types of promotion to be used, and media to be used. Specify the advantages of the chosen media, frequency, and continuity to be used.
Explain how these will be similar or different from the current strategies that are being used in the United States and why there are similarities or differences.

Also, please include all references and denotre where they are used throughout.

For each question above, please also include the following for each number:

1. "How" you arrived at your answer(s)
2. "What" facts and sources you reviewed and considered
3. "Why" your response is the best one from all the alternatives

Solution Preview

(P.S: I am going to give an example that is partially based on actual situation of Coca Cola products in India (marketing mix). However the reason of choosing the country, pricing strategies, media and brand positioning strategies are my ideas)

1. Briefly explain the country in which you have chosen to market the product and why you selected that country.

We want to market Coca Cola products in India. We picked India because it is an emerging market with a big population and the country has a great economic growth potential. Besides researches and studies show that most of the Indian population, especially the new generation like the taste of Cola Products. The product's image is loaded with over-romanticizing, and this is an image many people have taken deeply to heart. Coca-Cola's bottling system allows the firm to conduct business on a global scale while at the same time maintain a local approach. The bottling companies are locally owned and operated by independent business people who are authorized to sell products of the Coca-Cola Company. The major strength of Coke from the point of in India is it's current position in the market, the ability to sustain losses, the ability to spend on huge expenditure on advertising, the widely spread network of bottling plants and it's regional offices across a huge country like India, deeply penetrated dealer network, ability to lure the potential customer and dealers from the competitors.

2. A marketing mix and a competitive advantage for the product. Explain how these will be similar or different from the current strategies that are being used in the United States and why there are similarities or differences.

Product:
Out of the four Ps of market mix we will first talk about the Product. Coke products in India, their taste and acidity are customized for the Indian taste. Actually the flavor is the same but bottling companies prepared them less acidic then the ones in U.S. Coke scientists and marketers developed an array of new products from calcium-fortified waters and vitamin-enriched drinks bearing the names of Disney characters to a purified water filtration system for home use. While Coke sold over 300 beverages worldwide, Daft, the CEO of the Coca-Cola Company looked forward to the day when Coke would offer more than 2,000 beverages including new juices, teas, and hybrid products like carbonated tea. He explained: "We want to ensure that we always have a tailored nonalcoholic beverage portfolio in every community that touches consumers in locally relevant ways." Coke also built joint ventures to enter non-carbonated drinks segment. It joined hands with two major players, Procter & Gamble (P&G) and Nestlé, who had a significant presence in non-carbonated drinks. P&G's nascent Elations, cranberry juice, which relieved pain caused by arthritis was pushed through Coke's world-class distribution system and marketing prowess. Coke in turn banked on P&G's product innovation and technological capabilities to develop new snack and beverages. With Nestlé, Coke ...

Solution Summary

The 1953 word solution is a well thought out and well organized response to the questions using Coca Cola in India.

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