Description
COMPETENCIES
3013.1.1 : Marketing Function
The graduate analyzes the global market to identify opportunities to gain competitive advantage through marketing activities.
3013.1.2 : Customer Relationship Management
The graduate recommends customer relationship management practices for maximizing customer satisfaction and loyalty.
3013.1.3 : Evaluating Feasibility and Profitability
The graduate evaluates the feasibility and profitability of new products and services within the organization.
3013.1.4 : Marketing Strategy
The graduate designs a strategic marketing plan for a new product or service.
3013.1.5 : Entrepreneurial Enterprise
The graduate identifies risks and opportunities for an entrepreneurial enterprise.
INTRODUCTION
Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond.
For example, a natural foods company may need to begin offering an online ordering system to remain competitive. If you discover a market exists for a new natural food product that is desired in other countries but not readily available there, this might be a good product to recommend adding, but you should first determine whether it is feasible.
Select a business from one of the industries listed below:
agriculture
banking
hospitality
healthcare
retail
transportation
technology
Note: Please choose a business that can be adapted to a global market. Any information that would be considered confidential, proprietary, or personal in nature should not be included in the actual task submission to WGU. Do not include the actual names of people, suppliers, the organization(s), or other identifiable information. Fictional names should be used. Also, organization-specific data, including financial information, should not be included but should be addressed in a general fashion as appropriate. Work performed for a client or an employer is their property and should not be used without written permission.
REQUIREMENTS
Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. The originality report that is provided when you submit your task can be used as a guide.
You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.
Note: Assessment should be submitted in Microsoft Word or PDF format.
A. Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:
1. Identify two new products and/or services that the company can sell or offer to a global market.
a. Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.
b. Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.
c. Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.
2. Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.
a. Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.
3. Discuss at least one distribution channel for the two new products and/or services.
a. Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).
b. Analyze how the global supply chain may affect the product or service.
4. Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.
a. Identify costs associated with developing and launching the new products and/or services.
b. Evaluate consumer acceptance of the price set for the new products and/or services.
c. Evaluate competitor prices for similar products and/or services.
5. Discuss the promotional strategy you will use to promote your products and/or services in a global market.
a. Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.
i. Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)
b. Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.
B. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
C. Demonstrate professional communication in the content and presentation of your submission.
File Restrictions
File name may contain only letters, numbers, spaces, and these symbols: ! – _ . * ‘ ( )
File size limit: 200 MB
File types allowed: doc, docx, rtf, xls, xlsx, ppt, pptx, odt, pdf, csv, txt, qt, mov, mpg, avi, mp3, wav, mp4, wma, flv, asf, mpeg, wmv, m4v, svg, tif, tiff, jpeg, jpg, gif, png, zip, rar, tar, 7z
RUBRIC
A1:NEW PRODUCTS AND/OR SERVICES
NOT EVIDENT
The 2 new products and/or services are not identified.
APPROACHING COMPETENCE
The 2 new products and/or services are inappropriately identified.
COMPETENT
The 2 new products and/or services are appropriately identified.
A1A:METHODS
NOT EVIDENT
The provided discussion includes fewer than 3 different methods or the discussion is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided discussion includes 3 different methods. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion includes 3 different methods. The discussion is well reasoned and sufficiently supported.
A1B:COMPETITIVE ADVANTAGE
NOT EVIDENT
The provided explanation does not include 1 competitive advantage that the company will gain or the explanation is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided explanation includes 1 competitive advantage that the company will gain. The explanation is incomplete (lacks detail on how the company will gain the competitive advantage), unclear, or inappropriate.
COMPETENT
The provided explanation includes 1 competitive advantage that the company will gain. The explanation is complete (provides detail on how the company will gain the competitive advantage), clear, and appropriate.
A1C:INHERENT RISKS
NOT EVIDENT
The provided discussion includes fewer than 2 inherent risks associated with the launch. The discussion does not include how to minimize the identified risks.
APPROACHING COMPETENCE
The provided discussion includes 2 inherent risks associated with the launch and how to minimize the identified risks. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion includes 2 inherent risks associated with the launch and how to minimize the identified risks. The discussion is well reasoned and sufficiently supported.
A2:CUSTOMER RELATIONSHIP MANAGEMENT SOFTWARE
NOT EVIDENT
A discussion of the customer relationship management system is not provided or the discussion is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided discussion of the customer relationship management system is inadequate. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion of the customer relationship management system is adequate. The discussion is well reasoned and sufficiently supported.
A2A:CRM INFORMATION
NOT EVIDENT
An explanation of how the information generated by the CRM system will be used to continue to drive CRM practices and track sales in a global market is not provided or the explanation is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided explanation is incomplete (lacks detail on how the information generated by the CRM system will be used), unclear, or inappropriate.
COMPETENT
The provided explanation is complete (provides detail on how the information generated by the CRM software will be used), clear, and appropriate.
A3:DISTRIBUTION CHANNEL
NOT EVIDENT
A discussion of at least 1 distribution channel is not provided or the discussion is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided discussion of at least 1 distribution channel is inadequate. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion of at least 1 distribution channel is adequate. The discussion is well reasoned and sufficiently supported.
A3A:KEY CONSIDERATIONS
NOT EVIDENT
An analysis of key considerations is not provided or the analysis is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided analysis of key considerations is insufficient. The analysis is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided analysis of key considerations is sufficient. The analysis is well reasoned and sufficiently supported.
A3B:GLOBAL SUPPLY CHAIN
NOT EVIDENT
An analysis of how the global supply chain may affect the product or service is not provided or the analysis is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided analysis of how the global supply chain may affect the product or service is insufficient. The analysis is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided analysis of how the global supply chain may affect the product or service is sufficient. The analysis is well reasoned and sufficiently supported.
A4:MAJOR PRICING STRATEGY
NOT EVIDENT
A discussion of a major pricing strategy is not provided or the discussion is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided discussion of a major pricing strategy is insufficient. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion of a major pricing strategy is sufficient. The discussion is well reasoned and sufficiently supported.
A4A:COSTS ASSOCIATED WITH DEVELOPMENT AND LAUNCH
NOT EVIDENT
The costs associated with developing and launching the new products and/or services are not identified.
APPROACHING COMPETENCE
The costs associated with developing and launching the new products and/or services are inappropriately identified.
COMPETENT
The costs associated with developing and launching the new products and/or services are appropriately identified.
A4B:CONSUMER ACCEPTANCE OF PRICE
NOT EVIDENT
An evaluation of consumer acceptance is not provided or the evaluation is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided evaluation of consumer acceptance is insufficient. The evaluation is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided evaluation of consumer acceptance is sufficient. The evaluation is well reasoned and sufficiently supported.
A4C:COMPETITOR PRICES
NOT EVIDENT
An evaluation of competitor prices is not provided or the evaluation is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided evaluation of competitor prices is insufficient. The evaluation is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided evaluation of competitor prices is sufficient. The evaluation is well reasoned and sufficiently supported.
A5:PROMOTIONAL STRATEGY
NOT EVIDENT
A discussion of the promotional strategy is not provided or the discussion is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided discussion of the promotional strategy is insufficient. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion of the promotional strategy is sufficient. The discussion is well reasoned and sufficiently supported.
A5A:MASS AND SOCIAL MEDIA CHANNELS
NOT EVIDENT
The discussion does not identify 2 mass media and 2 social media channels.
APPROACHING COMPETENCE
The provided discussion inappropriately identifies 2 mass media and 2 social media channels.
COMPETENT
The discussion appropriately identifies 2 mass media and 2 social media channels.
A5AI:JUSTIFICATION OF MEDIA CHANNELS
NOT EVIDENT
A justification of why the media channels were chosen is not provided or the justification is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided justification of why the media channels were chosen is insufficient. The justification is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided justification of why the media channels were chosen is sufficient. The justification is well reasoned and sufficiently supported.
A5B:SALES PROMOTION ACTIVITIES
NOT EVIDENT
A discussion of 2 sales promotion activities is not provided or the discussion is fundamentally unacceptable.
APPROACHING COMPETENCE
The provided discussion of 2 sales promotion activities is insufficient. The discussion is poorly reasoned or lacks sufficient evidence.
COMPETENT
The provided discussion of 2 sales promotion activities is sufficient. The discussion is well reasoned and sufficiently supported.
B:SOURCES
NOT EVIDENT
The submission does not include both in-text citations and a reference list for sources that are quoted, paraphrased, or summarized.
APPROACHING COMPETENCE
The submission includes in-text citations for sources that are quoted, paraphrased, or summarized and a reference list; however, the citations or reference list is incomplete or inaccurate.
COMPETENT
The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available.
C:PROFESSIONAL COMMUNICATION
NOT EVIDENT
Content is unstructured, is disjointed, or contains pervasive errors in mechanics, usage, or grammar. Vocabulary or tone is unprofessional or distracts from the topic.
APPROACHING COMPETENCE
Content is poorly organized, is difficult to follow, or contains errors in mechanics, usage, or grammar that cause confusion. Terminology is misused or ineffective.
COMPETENT
Content reflects attention to detail, is organized, and focuses on the main ideas as prescribed in the task or chosen by the candidate. Terminology is pertinent, is used correctly, and effectively conveys the intended meaning. Mechanics, usage, and grammar promote accurate interpretation and understanding.
