There is one task in this Assessment of Learning.
Now that you have learned about getting a product into a foreign market, it’s your turn to help Blue Line introduce its hockey sticks to a country overseas.
Task 1
You will use everything that you have learned in this unit to create an international marketing plan for Blue Line to introduce its hockey sticks to the country you chose in Lesson 5.
Your marketing plan must include all of the following sections:
Title Page (1 page)
“International Marketing Plan for Blue Line” (without quotes)
Name of product (even though you’re marketing hockey sticks, you can still be creative!)
Your chosen country
Your name
Date of submission
Table of contents (1 page)
Number your pages, and make sure they correspond to the headings in your table of contents
Overview/Executive summary (½ page to 1 page)
Briefly explain the opportunity (what you will be marketing, to which country, and why you expect your plan to be successful)
(Hint: Do this section last. Once you have completed the rest of your marketing plan, it will be easier for you to write the summary.)
Situational analysis (1–2 pages)
You have already completed many aspects of your situational analysis in your Lesson 5 assignment. Here are two more topics to investigate.
Identify the following factors and discuss how they may affect your plan’s success or failure:
1. Consumer behaviour (level of discretionary income, spending vs. saving behaviour, spending on recreational goods)
2. Logistical factors (infrastructure for IT, transportation, warehousing)
The marketing mix (3–5 pages)
Product: Describe how you have adapted the hockey sticks and/or packaging for consumers in your chosen country, and discuss why you chose to make these adaptations.
Place: Describe how you will get the product to the chosen market by indicating:
your marketing approach (centralized or decentralized)
your market entry strategy (or strategies) Be sure to provide reasons to support your choices
Price: Describe how you will price your product for your foreign market. To discuss this section effectively, you should:
Read the background information about how Blue Line Hockey prices its hockey sticks domestically (below).
Use the Internet to research the current prices and selection of hockey sticks in your chosen country. This will give you an idea of what consumers in the foreign market are currently willing to pay for various hockey sticks.
Depending on the marketing approach (centralized or decentralized) and marketing strategy (e-commerce, local sales agents, etc.) you choose, you will incur certain costs that you will need to factor into your pricing strategy. For example, if you are opening a new plant in the local country, you will need to consider the cost of labour, and the cost of sourcing and shipping raw materials. Use the Internet to research these costs.
Once you understand how hockey sticks are priced in your chosen country, and the overhead costs you will incur based on your approach and strategy, come up with a reasonable selling price for Blue Line hockey sticks in your chosen country and provide a rationale for your pricing.
Before you get to the next section, read this information on how Blue Line currently prices its hockey sticks in Canada.
Blue Line hockey sticks retail in Canada for between $19.99 for simple wooden sticks, to $99.00 for more sophisticated composite sticks.
To manufacture the sticks in Canada, it would cost Blue Line $10.00 per wooden stick and $49.50 per composite stick. This is inclusive of labour but does not include any transportation, storage, or legal costs.
The marketing mix (3–5 pages)
Promotion: Describe how you will promote your product to your new market.
Consider the marketing materials will you use (ads, public relations) and whether you will use existing marketing materials or create new ones. Explain why you think your approach will be effective.
Appendices (page length varies)
This is a good place to include charts, graphs, diagrams, or images that were too big to fit in the rest of the marketing plan. Direct the reader to the appropriate appendix by making appropriate references to it in the body of your report.
References (page length varies)
Provide a list of all the external resources you used to create the marketing plan. The reference list should be in APA format.
Tips to completing this task successfully
Remember to include all seven sections in your marketing plan.
Use appropriate headings and page numbers to help organize your work.
With the exception of charts, graphs, diagrams and images, you should always write in full sentences.
Always give solid reasons to support any answers or recommendations that you provide.
Always reference any sources you quote by making in-body citations as well as providing the list of references at the end of your plan.
Don’t forget to proofread your marketing plan. Make sure that nothing is missing and that you have checked your spelling and grammar carefully.