Directions : Pick a product based company : perhaps Samsung, however feel free to pick another company.
Part 1
You will expand your product or service in 2 markets- one in an undeveloped or developing country, and one in a developed country.
Brainstorm and then prototype a new product line for the company you have chosen for your final project.
Adapt a current campaign for an underdeveloped or developing country.
Explore a country in which you would like to move into. Research the culture, customer needs and other related information. Then take the new product or service you have created, and decide how you would like to market in that region. Find any current marketing efforts that have taken place. Either adapt a current campaign or design a new marketing campaign for one region or people group in an underdeveloped or developing country.
part 2
Situational Analysis Guide: Add any graphs or diagrams you used in coming to your conclusions.
Competitive Analysis: Look for:
Major and minor competitors: Who are they? ( include domestic/local and international competitors)
How are the competitors doing? Are they successful?
What is their market share?
How powerful is their advertising/promotion campaign? Cite examples.
Who are your competitors’ customers? Are you going to be competing for the same type of customers? If so, how do you plan on staying ‘ahead of the pack’?
Company Analysis:
Conduct an internal SWOT analysis
Investigate the company ‘status quo’ and the internal resources available for a successful marketing strategy.
Product/Service Analysis
Is your product/service competitive? How do you know? Have you developed any market research studies?
Develop a ‘statement of distinction’ for your product/service; this should include how ‘different’ is your product/service from the existing products in the market. What are some of the characteristics/features that will make your product/service competitive?
Market Analysis:
Is the market mature enough to support your product/service?
What is the approximate size of the market share you are anticipating?
Does your demographic segment support the new product/service?
Is any external policy or regulation acting as a barrier to your product/service?
Customer Analysis:
Have you performed your market segmentation and subsequent customer targeting?
‘Who’ is your customer? (age range, income, education, tastes and preferences, needs and wants, etc.)
Develop a complete profile of your potential customers.