Coursework Assignment Brief
Module Code: PM305
Module Title: International Marketing
Programme: BSc (Honours)
Level: Level 6
Module Leader Annette Warner
Format: International Marketing report
This assignment is worth 50% of the total marks for the module
Any special requirements: The briefing paper should be submitted on the Student Portal along with a Turnitin Report
Word Count 2,500 (excludes appendices) +/-10% allowance
Deadline date for submission: 12 midnight on Thursday 10th December 2015
Learning Outcomes: o Identify the principal managerial issues and policies necessary for success in international marketing.
o Examine and evaluate methods of identifying and qualifying market potential in different parts of the world.
o Illustrate the nature of overseas distribution systems (including agents and joint- ventures) and demonstrate the marketing implications of differences in culture in consumer behaviour.………….
Assessment criteria Pitch Explanatory comments on the assessment criteria Maximum marks for each section
Research and analysis • Market research and screening activity at macro and micro level -identifying and qualifying market potential
Constructive analysis and applicationof international marketing strategies • Proposed and recommended international markets (min 2)
• Identified and justified selected market entry strategy to gain overseas distribution into selected market
• Level of adaptation required and implications to the marketing mix due to differences in culture and consumer behaviour in selected market
• Application of academic models must be evident
Format and referencing, Harvard referencing where relevant and appropriate. Appropriate report format 10%
This summative assessment represents 50% of grade.
All learning outcomes will be assessed.
Next is a British multinational clothing, footwear and home products retailer headquartered in Enderby, Leicestershire.
The company operates Next web stores and has around 700 physical stores, of which 540 are in the United Kingdom and Ireland, and around 200 are in continental Europe, Asia and the Middle East.
Next is looking to improved delivery and international expansion to boost its highly-profitable online sales over the coming year.
The measures are part of a five-pronged strategy for growth at the multichannel fashion retailer, which said as it released full-year results today that it will also develop the companys brand, invest in profitable new space, improve service and control costs.
But the online measures are among the most significant since ecommerce is the most profitable part of the business. During the year to January 2014, Next profits lifted by 11.8%, from £622m to £695m. Next today released figures showing that online contributed £48m of the profit growth, while new space contributed £12m. The companys aim is that stores contribute 15% of sales as profit currently 90% of stores achieve this. (Source: Internet retailing 2014)
Investing in online is a key pillar of the Next strategy, and the multichannel fashion retailer said 45% of its online orders were now delivered to stores, following the introduction of free next-day delivery to store for orders placed before 10pm. Previously, 30% of online orders were click and collect ones..
International sales, it said, grew by 86% during the year, contributing 3.9% to the growth of the Directory business. “However,” said the Next statement, “with a turnover of just over £100m it is still relatively small and it would be a mistake to over-emphasise its importance.” The company expects sales in this part of the business will grow by 50% to £150m in the year ahead. Overseas sales are currently serviced from Nexts UK warehouses.
As a marketing consultant you have been asked by Next plc to recommend 2 international growth markets for it to enter in 2016/17. Primary focus for market entry will be through online presence but you may recommend that a store presence may be required to support this.
You should prepare a report for the board that addresses your consultancy brief, this should include:
• An analysis of the macro and micro factors impacting on the retail market and the market recommendations
• An evaluation of market potential, to include an identified shortlist of markets with potential.
• Then using a clear and identified screening criteria, select two recommended market with clear justification as to why these markets have been selected.
• A recommended and justified market entry strategy to take Next into these markets
• Recommended adaptations to Nexts marketing mix for the proposed markets, ensuringdifferences in culture and consumer behaviour are recognised in their marketing mix activity
Additional information will be available on the portal to support your research but you will need to conduct your own research into macro and micro factors using the online library.