Market Entry Strategy Assignment Business & Marketing Essay (Essay Sample)
This is group work assignment, my part is 4th which called Market Entry Strategy Assignment. The country we select is China. If you have any questions pls ask me.
CAPSTONE PROJECT INFORMATION PAGE BUSI 2043 INTERNATIONAL BUSINESS ENVIRONMENTOBJECTIVEThe Capstone Project will be done in teams. The professor will place students into teams. Each team member is expected to conduct themselves in a professional and respectful manner; and on a unit basis, submit work that meets the standards of the program and university.INSTRUCTIONS_
Working as part of a team, students will complete a Market Entry Strategy Project. Each team will:
• Select a country as a possible new market for a new video game system, the M-Box by MES-Sim Corporation.
• Research and analyze that country.
• Recommend whether the market should be developed, or not, by MES-Sim Corporation.
This project has four distinct parts. Teams will work one section at a time in the sequence and according to the schedule outlined below. Draft Versions of each Part will be submitted to the professor as a 'Check-in'; the professor will not mark the Check-Ins but will provide feedback. Teams can therefore improve the Draft before submitting the Final Version of the Report at the end of the course for marking.THE FINAL MARKET ENTRY STRATEGY REPORT SHALL:_
• Include an Executive Summary, introduction, and conclusion, as well as results of the four project components (outlined below).
• Be a maximum of 25 pages, double-spaced, 12 pt font.
• Be formatted to be consistent with APA style format.
Before we proceed with the description of the work for the Project, it is necessary to discuss how each team, and the work for the Project, will be managed.
It is critical that all each team makes meaningful progress towards completing the Capstone Project on a unit-by-unit basis. Therefore, each team member is expected to conduct themselves in a professional and respectful manner and submit work that meets the standards of the program and University.
• Each team will be managed according to the Learning Team Agreement (LTA). Each team member will be required to agree to and abide by the LTA. LTA must be submitted for approval by professor by 11:00 p.m. on Sunday of Unit 2.BUSI 2043 International Business Environment1
• Business customs and practice - Students will need to describe and discuss the business customs and practices that exist there. The following questions are typically important in such a discussion - What role do ethics, corruption, and respect of law play? How are environmental concerns and human rights issues addressed?
• Religion and culture - Students will need to describe and discuss the cultures that play a significant role in the country, specifically how these cultures might impact international business.
• Economic analysis of key indicators -
o Demographics o GNP/GDP
o Major sectors and industries o Currency, interest, and inflation rates o International Trade patterns o Labour Force
3. Report on Opportunities for Market Entry (ROME) - The Check-in for this section is 11:00 p.m. on Sunday of Unit 8 (3-4 pages).
The ROME builds upon the BEAR and asks students to assess the import and export prospects for MES-Sim regarding the target market. The critical issue here is whether MES-Sim can effectively conduct international trade activities with the target market as a new base of operations? Therefore, the ROME builds on the BEAR and requires a significant amount of analysis to develop recommendations.
4. Market Entry Strategy Assignment (MESA) - The Check-in for this section is 11:00 p.m. on Sunday of Unit 10 (3-4 pages).
Teams will be required to develop a market entry strategy for the M-Box and MES-Sim in the se ected market. This could include, but may not necessarily be limited to, the following items:
• Transportation and telecommunications infrastructure
• Methods of distribution within the country
• Points of sale issues
The MESA builds upon the ROME and BEAR and requires a significant amount of analysis to develop recommendations.
1. Learning Team Agreement submission - 11:00 p.m. on Sunday of Unit 2.
2. Marketing Intelligence Report (MIR) - 11:00 p.m. on Sunday of Unit 4.
3. Business Environment Analysis Report (BEAR) - 11:00 p.m. on Sunday of Unit 6.
4. Report on Opportunities for Market Entry (ROME) - 11:00 p.m. on Sunday of Unit 8.
5. Market Entry Strategy Assignment (MESA) - 11:00 p.m. on Sunday of Unit 10.
6. Final Report Submission (inclusive of all sections) - 11:00 p.m. on Sunday of Unit 11.
This work will be managed by each Team but the Project Deliverables (refer to the LTA) must je approved by the professor, and the actual work done each unit will be reviewed by the jrofessor. Students can assign the work in whatever manner the Team Members believe is most appropriate for them; for example, students can divide each section according to the issues listed below or they can share the work collectively.
Each team will write a brief work plan as outlined in the Project Deliverables section of the LTA and submit it to the professor for approval by the end of the third day of the course.
Each team will also submit a brief unit report to the professor based on the Project Deliverables, which will indicate what work was done and by whom. This approach gives the professor the ability to assess not only the team's progress but also the contribution of each team member. Unit reports will be submitted to the professor at the end of each unit.
Team members must advise the professor of any issues relating to peers as soon as they occur so that they can be handled in a proactive and respectful manner. Again, each team member is expected to conduct themselves in a professional and respectful manner; and on a unit oasis, submit work that meets the standards of the program and university.
PROJECT SCHEDULE BREAKDOWN
The Capstone Project has four distinct parts which are material to the development of your team's Recommendation. When formatting the Project, it must be remembered that written submissions are professionally presented, including an Executive Summary and Conclusion. Each Part should be done in the order described above as Parts 2, 3, and 4 build on previous work. Draft Versions of each Part will be submitted to the Professor as a "Check-in;" the professor will not mark the Check-Ins but wil provide feedback. Teams can therefore improve the Draft before submitting the Final Version of the Report at the end of the course for marking. Each part should be 3-4 pages in length.
1. Marketing Intelligence Report (MIR) - The Check-in for this section is 11:00 p.m. on Sunday of Unit 4 (3-4 pages).
The MIR requires teams to gather current, or the most recently available, data on the market's people, economy, government, and technological status from online sources.
2. Business Environment Analysis Report (BEAR) - The Check-in for this section is 11:00 p.m. on Sunday of Unit 6 (3-4 pages).
In the BEAR, students will analyze the business environment in the market. Students should remember that this is about developing a market in the selected country, not going there to have fun as a tourist. Therefore, your work should not include data which is not directly relevant to the goal of deciding whether the market should be developed or not. Data that would be relevant could include, but may not necessarily be limited to, the following items:
• Political and regulatory stability - Students will need to describe and discuss the political and regulatory system with reference to their stability and receptivity to international business, including foreign investment.
• Legal system - Students will need to describe and discuss the kind of legal system that exists there. The following questions are typically important in such a discussion - Is the legal system transparent and independent? Is it fair and objective? Does it protect intellectual property, foreign investments, etc.?BUSI 2043 International Business Environment2/42
Market Entry Strategy
The Chinese gaming industry is the largest in the world in terms of revenue and users. It is dominated by Tencent games owned by Tencent Holdings, which owns 10% of the global gaming market. Although this implies that there is fierce competition, it also indicates that there are customers who will be attracted to play their games using the M-box video system. However, there are countless stories of foreign companies that failed because they were unable to compete and survive in the Chinese business environment. Their failure was attributed to various barriers such as lack of network and business connections, language disparity, and strict policies on foreign setups and investments. However, engaging a local partner may assist in tackling some of the barriers. As a result, the introduction of the M-box video game system in China will be done through a joint venture and wholly-owned foreign enterprise (WOFE) strategies.
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