3. Market size/volume (this is different from population size), demand for the product: market performance in the last few years (using a graph is highly recommended). 100
4. Consumer segment(s): demographics, psychographics, geographic, behavioural (whichever is/are applicable), buying habits 100
G. Competitors 300 words
Compare and contrast your product and the competition’s product(s)
1. Competitors’ product(s) a. Brand name b. Features c. Package
Brand names
In the consumer goods industry, in Turkey, multinational companies like Procter & Gamble (P&G) Colgate Palmolive, and Johnson & Johnson compete with brands such as Eczacıbaşı Holding and Hayat Kimya.
Features
These companies offer a range of products spanning care, home care, beauty and wellness categories. Their products stand out for features like ingredients, advanced formulas and specific benefits, like aging properties or eco-friendly qualities.
Package
The packaging options range from designs to eco choices that prioritize convenience, sustainability, and showcasing the product effectively.
2. Brands’ country of origin.
Competitors hail, from backgrounds with global companies tracing their roots to nations such as the United States (P&G, Johnson & Johnson) Germany (Henkel), and Switzerland (Nestle) among others. On the other hand, domestic brands have ties, to Turkey embodying cultural subtleties and local tastes.
3. Competitors’ prices
Competitors have pricing approaches with some selling high-end items, for buyers and others emphasising budget-friendly options, for the mass market. Prices are influenced by product quality, brand image, and the intended customer base.
4. Competitors’ promotion and advertising methods
Rival companies use a combination of online marketing tactics. These methods encompass TV ads, printed promotions, social media initiatives partnerships, with influencers, and promotional activities, in stores. Their messaging typically highlights the effectiveness of their products, distinctive attributes and the lifestyle advantages they offer.
5. Competitors’ distribution channels
Competitors make use of distribution channels such as, supermarkets, large retail stores, pharmacies, online shops, and platforms that sell directly to consumers. They also partner with distributors, wholesalers, and independent sellers to connect with a range of customers, in both rural regions.
H. SWOT Analysis (extracted from the company and the country analysis) 400
1. Summary of company’s strengths and weaknesses (internal factors)
2. Summary of opportunities and threats in the macro- and micro-environment of the international market (external factors)
3. Problem and opportunity statement
I. Critical success factors 100
J. Marketing objectives 300
Set your company’s objectives in the chosen international market
1. Sales and profit forecast years 1-5: estimated sales for your company for the planning year(s)
2. Target segment(s)
3. Positioning strategy
4. Market penetration and coverage
5. Budget
Marketing Strategies 200
K. Product adaptation or modification
1. Using the product component model as your guide, indicate how your product can be adapted for the market:
a. Core component
b. Packaging component
c. Support services component
2. What aspects of the product need to be adapted to the chosen international market
L. Pricing strategy
1. What pricing strategy will be used? e.g. skimming, penetration, premium, cost-plus, etc
2. Ethnocentric or polycentric
3. Estimated price of the product
4. How does it compare with competitors’ / substitutes’ prices?
M. Promotion mix
a. Advertising
b. Objectives
c. Media mix
d. Message (types of appeals)
e. Estimated costs
1. Sales promotions
a. Objectives
b. Coupons
c. Premiums
d. Costs
2. Personal selling
3. Other promotional methods (e.g. digital)
N. Distribution (5 out of 20 marks) 500
1. Where will the product be made? Justify
2. Distribution / coverage strategy
a. Intensive
b. Selective
c. Exclusive
3. Distribution channel structure (whichever is applicable)
a. Wholesales
b. Retailers
c. Online
d. Others
4. Port selection
a. Origin port
b. Destination port
c. Costs
6. Mode selection (from origin to destination): advantages/disadvantages of each mode
a. Railroads
b. Air carriers
c. Ocean carriers
d. Motor carriers
7. Packing
a. Marking and labeling regulations
b. Containerization
c. Costs
8. Documentation required
a. Bill of lading
b. Dock receipt
c. Air bill
d. Commercial invoice
e. Pro forma invoice
f. Shipper's export declaration
g. Statement of origin
h. Special documentation
9. Insurance claims
10. Freight forwarder. If your company does not have a transportation or traffic management department, then consider using a freight forwarder. There are distinct advantages and disadvantages to hiring one.
In the consumer goods industry, in Turkey multinational companies like Procter & Gamble (P&G) Colgate Palmolive and Johnson & Johnson compete with brands such as Eczacıbaşı Holding and Hayat Kimya. These companies offer a range of products spanning care, home care, beauty and wellness categories. Their products stand out for features like ingredients, advanced formulas and specific benefits, like aging properties or eco friendly qualities. The packaging options range from designs to eco choices that prioritize convenience, sustainability and showcasing the product effectively.