Highlights
Stage 2A – BUSINESS EXPANSION PROPOSAL
Once you have completed Stage 1 you will generate a and business expansion proposal" indicating the Canadian company and product selected and your international expansion plan. This is all based on the market research conducted; you probably have to do more research here.
This proposal must be written in full sentences. Use the HEADINGS below to structure your proposal. Remember, for your product to be successful, there must be evidence of demand for it. Your research should have revealed some opportunities that exist for products.
a) Expansion rationale (2 pages - including visuals)
Describe the product you have selected (current name, Canadian marketing mix 4 P2C
Which Canadian company currently makes this product.
Provide a brief background on this company, including their CSR strategies(Corporate Social Responsibility) i.e. fundraising, community supports, environment
Do they sell this product to other countries? List them.
Why did you decide to export this product to your selected country
b) Market Analysis
? Complete a SWOT analysis on your product expansion into your country based on research!! You will need to do more research!!
YOU MUST consider the following when completing your SWOT.
All the barriers/obstacles to market entry. (economic, social, political)
What are the costs associated with exporting your product to your specific country (currency exchange, tariffs, shipping etc.)
Who are your main competitors? Pricing, marketing etc. (direct and indirect)
Competition and packaging, strategy, target market they reach
Country culture (hofstede)/business practices/ appeal to foreigners/
Social issues important in the country
c) Innovation Plan - to be presented during CONFERENCE
What changes will you make or strategies used to be successful exporting your product to the country you’ve chosen
Remember to consider all aspects of marketing. 4Ps 2 Cs
Tie in your SWOT analysis
How will you differentiate yourself? Think outside the box
CSR component - how will you give back to the community.
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