GROUP PROJECT Course Name: International Marketing (MKTG 3001) Lecturer: Dr Tricia-Anne Y. Morris Assessment Mark: 20% of total grade A. PROJECT OBJECTIVES: − To facilitate collaborative learning and engagement. − To give you first-hand experience in identifying, analyzing, and evaluating international marketing opportunities. − To equip you with skills to add value to an organization operating overseas. − To foster a comprehensive grasp of course material for better final exam preparation. B. PROJECT OVERVIEW: General Comments: − For the purposes of this project, students in this course are managers who serve on a Management Team of 9-10 − persons employed to one of several companies currently operating in Jamaica. − As the Management Team you are being asked to come together with your colleagues to complete three (3) major management-related activities for your company. Your responsibilities include: o Weekly Management Meetings (40 points): These sessions align with your weekly classes. o Producing an International Marketing Plan (40 points): This involves a written project. o Participating in an International Marketing Workshop (40 points): This requires an oral presentation. − The theories and principles learnt/covered in MKTG 3001 must be utilized throughout the project. Performance Appraisals: As you know, companies from time-to-time conduct performance appraisals to measure an employee’s work and results against stated responsibilities. Your company will conduct appraisals to determine how well teams/individuals are completing the assigned activities. Hence: For Teams: − Accountability: Each team must help hold its team members accountable. − Point Allocation: Based on the points allocated above, each team can earn up to 120 points. These points will then be averaged to determine the final group grade (out of 20%). − Late Submissions: Late project submissions will incur a 5% penalty. For Individuals: − Engagement and Contribution: Individuals must actively engage and participate in the activities. They must ensure an equitable contribution to the team’s work. − Commitments: Individuals must honor their commitments by: − o Attending sessions promptly. o Staying for the entire duration of each session. o Giving their full attention to the process. Communication: Ample notice must be given to the rest of the team in case of emergencies, lateness, or early departure. This applies to all meetings and activities. Page 1 of 9 C. MANAGEMENT ACTIVITIES (DETAILS & INSTRUCTIONS): Activity 1: Weekly Management Meetings (40 points) Instructions for Activity 1: 1) Weekly Meeting Preparation: − Read the relevant chapters from the prescribed text and related materials. − Interrogate the content to ensure understanding. − Discuss questions at the back of each chapter to enhance comprehension. − Be prepared to respond to CEO questions during meetings. − Encourage voluntary participation. 2) Individual Participation: − When responding to questions, the individual must state his or her name and team number. Otherwise, his/her participation will not be noted, resulting in lost points. − Additionally, actively listen to others and engage respectfully during discussions − Individuals are expected to be respectful and engaging during meetings. Performance Appraisals for Activity 1: − Appraisals will be carried out by the CEO. − Remember that thoughtful, well-prepared responses will impact your performance, particularly at the management level. − Ensure your contributions are thoughtful, and avoid superficial participation. Unprepared individuals risk receiving zero points for their team. − Points will be calculated on 4 factors using a scale of 1 (extremely poor) to 10 (excellent) as follows: 1. Quality of Response (10 pts): This factor assesses how well teams or individuals prepare for the weekly meetings. It considers their thorough review of the material, specifically the prescribed text and related content. Scale (1-10): 1 (Extremely Poor): Little to no preparation. 10 (Excellent): Thorough preparation. 2. Engagement (10 pts): This factor assesses the level of active participation during meetings. It includes voluntary contributions, asking relevant questions, and engaging in discussions. Scale (1-10): 1 (Extremely Poor): Minimal participation/lack of engagement. 10 (Excellent): Consistent active involvement and willingness to participate. 3. Communication (10pts): Definition: This factor assesses how well teams or individuals respond or pose questions during discussions. It considers clarity, conciseness, and the ability to convey complex ideas. Scale (1-10): 1 (Extremely Poor): Unclear, disorganized communication, difficulty expressing ideas. 10 (Excellent): Deep understanding, persuasive, and high-quality, insightful responses 4. Critical Thinking (10pts): Definition: This factor assesses adaptability and critical thinking skills. It looks at how well individuals handle unexpected questions, think on their feet, and provide thoughtful answers. Scale (1-10): 1 (Extremely Poor): Inflexible, struggles with unexpected queries, lacks critical thinking. 10 (Excellent): Quick thinking, adaptable, and demonstrates analytical skills. Total Points Possible: 40 – [Remember, active listening, respectful communication, and thoughtful contributions are essential for success in Activity 1: Weekly Management Meetings.] Page 2 of 9 Notes for Activity 1: 1) Weekly meeting: − These are working meetings. During the 1-1½ hour, we will review the chapter of the week. − Teams should already have reviewed the material, so in-class review will not be exhaustive. − The remaining time will focus on project engagement and completion. Come prepared to work on your group project. − The last weekly meeting will be held on April 12, 2024, unless otherwise stated. 2) Team and Individual Accountability: − Teams will be penalized if group member (s) is consistently late, absent, or leaves weekly meetings early. − Individuals will be penalized if they do not fully engage and participate in the activities. Activity 2: International Marketing Plan (40 points) Instructions for Activity 2: Your task is to prepare a detailed International Marketing Plan for the launch of your company’s premier product or service in the global marketplace. This plan will guide your entry into new markets and ensure successful expansion. As a management team, you’ll need to demonstrate various skills throughout the project lifecycle. Please note the following: A. Document Length and Format: a) No more than 10,000 words, excluding references and appendices. b) Use a typewritten MS Word document with the following specifications: o Font and size: Times New Roman 12pt o Line spacing: Double o Margins: Default c) Begin each new section of the Plan on a fresh page. This practice is akin to how you would approach a written exam, where each new question starts on a new page. d) Write the name of contributors to each section at the top of the page or in the footer. e) Align the plan with your company’s overall strategic goals to ensure coherence and effectiveness. B. Structure: a) Include the following on the cover page o Course code and title o Group member names o Group member ID numbers o Company name b) Your Plan should include the following sections: o Table of Contents o Exec Summary o Body of the Plan o Conclusions o Recommendations o Appendices See overleaf for more details. Page 3 of 9 C. Body of the Plan – International Marketing Plan: These are the sections you will need to include in the body of your plan. Remember, each section contributes to a comprehensive and effective International Marketing Plan: a) Company overview: − Describe your company’s mission, vision, core values, and its current market presence. − Highlight how these elements align with your global expansion strategy. b) Market Expansion Rationale: − Explain the factors that prompted your decision to expand into a new market. − Consider: o Economic trends: What opportunities do they present? o Competitive landscape: How will you position yourself? o Growth opportunities: Why is this market attractive? c) Product/Service Description: − Provide a detailed description of the product or service you intend to launch globally. − Emphasize its unique features, benefits, and value proposition. d) Market Assessment: − Evaluate two potential markets for entry. − Justify why you would choose one over the other based on: o Market size o Growth potential o Cultural fit o Regulatory environment, etc. e) Characteristics of Chosen Area/Region: − Assess: o Demographics: Who are your potential customers? o Consumer behavior and preferences: What drives their choices? f) Perceived Opportunities and Threats: − Identify: o Cultural, socioeconomic, and legal risks. o Opportunities for growth and innovation. g) Handling Challenges: − Propose strategies for mitigating challenges. − Discuss how you’ll adapt to unforeseen obstacles. h) Long-Term Challenges and Business Impact: − Anticipate challenges your company may face in the next 3 to 5 years. − Explain how these challenges could impact your business in the chosen market. i) Global Marketing Strategy: − Outline your overall approach for marketing the product/service globally. − Explain how this strategy aligns with your company’s objectives. j) Segmentation, Targeting, and Positioning (STP): − Segment the market based on relevant criteria (e.g., demographics, psychographics). − Choose a target segment and explain why it’s ideal for your product/service. − Define your unique market position within this segment. k) Global Marketing Mix: − Discuss brand and product decisions. − Consider how you’ll adapt the marketing mix (product, price, place, promotion) to suit the international context. Remember, concise, focused content aligned with strategic goals is crucial for an effective International Marketing Plan. Page 4 of 9 Performance Appraisals for Activity 2: Appraisals will be carried out by the CEO. Points will be calculated on 4 factors using a scale of 1 (extremely poor) to 10 (excellent) as follows: 1. Strategic Thinking and Analysis (10pts): This factor assesses the team’s ability to think strategically and analyze complex situations. It includes evaluating the company’s position, understanding market dynamics, and aligning strategies with long-term goals. Scale (1-10): 1 (Extremely Poor): Insufficient research, weak rationale, or arbitrary decisions. 10 (Excellent): Demonstrates foresight, holistic analysis, and alignment with overall objectives. 2. Research and Decision-Making (10pts): This factor evaluates the quality of research and decision-making within the marketing plan. It considers data-driven choices, thorough market assessments, and evidence-based recommendations. Scale (1-10): 1 (Extremely Poor): Lacks strategic depth, misses critical insights. 10 (Excellent): Rigorous research, well-justified decisions, and logical reasoning. 3. Content Clarity and Depth (10pts): This factor assesses how well the team integrates major and minor concepts into the marketing plan. It considers the clarity, depth, and conciseness of the content. Scale (1-10): 1 (Extremely Poor): Superficial overview, lacks critical insights, or fails to address key points. 10 (Excellent): Comprehensive summary, in-depth analysis, and clear recommendations. 4. Creativity and Plan Organization (10pts): This factor focuses on the team’s creativity in organizing the marketing plan. It includes the organization of information, visual elements (such as diagrams or charts), layout, design and innovative approaches. Scale (1-10): 1 (Extremely Poor): Conventional layout, lack of creativity, or ineffective presentation. 10 (Excellent): Engaging, visually appealing, and creatively presented. Total Points Possible: 40 – [Strategic thinking, thorough research, clear communication, and creative organization are essential for success in Activity 2: the International Marketing Plan.] Notes for Activity 2: 1. The final International Marketing Plan must be submitted by April 12, 2024. 2. Improper citations and references will be penalized. Ensure you use the APA Manual (7th Ed.) for accurate referencing. Remember, attention to detail and adherence to citation guidelines are crucial for a successful submission. Page 5 of 9 Activity 3: International Marketing Workshop (40 points) Overview for Activity 3: The global business landscape is undergoing a seismic shift, driven by the convergence of digital marketing and artificial intelligence (AI). Jamaican companies, eager to expand overseas, find themselves at the crossroads of uncertainty. The world economy is in flux, with AI reshaping industries, consumer behaviour, and market dynamics. However, not all Jamaican companies that have decided to go global have fully incorporated digital marketing and AI into their plans. Consequently, they are facing undue pressure and strong discomfort, as their overseas counterparts suggest that their International Marketing Plans are outdated and lack relevance. While the Ministry of Economic Creation Jamaica (MECJ) recognizes the importance of digital transformation for the long run, it emphasizes the need for a solid International Marketing Plan, even for those companies not yet ready to incorporate digital transformation into their strategies. The Ministry disagrees with the pressure being meted out by overseas counterparts and has determined that there is an urgent need to host a meeting to address any concerns and facilitate collaboration among local companies. In a letter to various companies, the Minister invites local businesses to an International Marketing Workshop to present their plans. The Minister refers to the upcoming workshop as a knowledge-sharing hub, aiming to foster collaboration among Jamaican companies planning global expansion. By providing a platform for peer learning, best practice sharing, and collective wisdom, the Minister anticipates that the workshop will contribute to the overall success of Jamaican companies venturing into the global marketplace. The Ministry emphasizes in its letter that the aim is not to pressure companies into pursuing digital transformation at this time but to provide an opportunity for companies to present their plans for evaluation of their viability. Note, the above scenario is not factual. It was created solely for the purpose of this group project. Instructions for Activity 3: Your CEO has asked your Management Team to make a presentation at the International Marketing Workshop. Your team must be guided by the following: Presenting Team must: 1. Cover the main points of the International Marketing Plan. 2. Avoid mere regurgitation of what is in your document. 3. Provide a summary and analysis of the information. 4. Offer clear recommendations for entering a new market with your premium product/service. 5. Actively engage in the Q & A section that follows the presentation. 6. Digital transformation can be incorporated at your discretion; no penalties if not included. Others in attendance must be prepared to: 7. Ask questions of the presenting team. 8. Answer questions posed by the MECJ (your lecturer and any guest that may be in attendance) Remember, effective communication, presentation skills, analysis, and engagement are key during the International Marketing Workshop. Page 6 of 9 Performance Appraisals for Activity 3: Appraisals will be carried out by the CEO. Points will be calculated on 4 factors using a scale of 1 (extremely poor) to 10 (excellent) as follows: 1. Content Clarity and Depth (10pts): This factor assesses how well the team integrates major and minor concepts into the marketing plan. It considers the clarity, depth, and conciseness of the content. Scale (1-10): 1 (Extremely Poor): Superficial overview, lacks critical insights, or fails to address key points. 10 (Excellent): Comprehensive summary, in-depth analysis, and clear recommendations. 2. Presentation Skills and Engagement (10pts): This factor evaluates the team’s presentation skills. It includes aspects such as delivery, visual aids, and engagement with the audience. Scale (1-10): 1 (Extremely Poor): Monotonous delivery, disorganized slides, or lack of audience interaction. 10 (Excellent): Engaging, confident delivery, well-designed visuals, and active audience involvement. 3. Time Management (10pts): This factor considers how effectively the team manages the 10-minute presentation duration. It assesses whether they stay within the allotted time. Scale (1-10): 1 (Extremely Poor): Exceeds time limit significantly or rushes through content. 10 (Excellent): Precisely timed, covers essential points without rushing. 4. Q & A Interaction (10pts): This factor focuses on the team’s ability to actively engage during the Q & A section following their video presentation. It includes responsiveness, clarity in answering questions, and adaptability. Scale (1-10): 1 (Extremely Poor): Avoids questions, provides vague answers, or lacks adaptability. 10 (Excellent): Thoughtful responses, openness to feedback, and effective handling of queries. Total Points Possible: 40 – [Effective presentation skills, active engagement during Q & A, and thoughtful content delivery are essential for success in Activity 3: the International Marketing Workshop. Remember to adapt to unforeseen questions and confidently convey your recommendations.] Notes For Activity 3: 1. The workshop will be held on April 12, 2024, starting at 11AM. All teams/individuals must be present for the full day of activities. 2. The presenting team will have 12 minutes in total: 8 minutes for presentation and 4 minutes for Q & A. 3. Submitting the PowerPoint document is not required; focus on delivering a compelling presentation. Remember, effective time management, and engaging Q & A responses are crucial during the workshop. D. REWARDS AND RECOGNITION: As previously indicated, the Ministry of Economic Creation Jamaica (MECJ) recognizes the critical role of a solid International Marketing Plan in a company’s success. The Ministry emphasizes that companies must put forth their best efforts, as any misjudgment could have serious implications, particularly considering the undue pressure from overseas parties. With this commitment in mind, the MECJ is launching the Go Global Reward Program, aimed at incentivizing participating companies. The table overleaf outlines how managers/teams can add to their final grade. Page 7 of 9 GO GLOBAL REWARD PROGRAM INCENTIVE DETAILS: Category Basis of Assessment Type of Award Award (up to) Best Management Team Highest grade for Group Project Team 5% Best Presentation Presentation, Q & A interaction Team 3% Team 3% Individual 3% Individual 3% & Level of Participation & Engagement throughout Most Improved Team Highest improvement in weekto-week grade Best Male Manager Highest overall grade: Individual Participation + Group Project Best Female Manager Highest overall grade: Individual Participation + Group Project To participate in the Go Global Reward Program, individuals must maintain a minimum average, week on week, of at least 70%. These grades will be added to your group project, contributing to a maximum of 20% of your final grade. Additionally, a leader board showcasing the top-performing teams will be shared each week. Remember, excellence and active participation can lead to exciting rewards! - END - Page 8 of 9 **D. FINAL ANNOUNCEMENT** As previously indicated, the **Ministry of Economic Creation (Jamaica)** recognizes the critical role of a solid **International Marketing Plan** in a company’s success. The Ministry emphasizes that companies must put forth their best efforts, as any misjudgment could have serious implications under the undue pressure from overseas parties. With this commitment in mind, the **Ministry of Economic Creation** is launching the **Go Global Reward Program**, aimed at incentivizing participating companies. --**GO GLOBAL REWARD PROGRAM INCENTIVE DETAILS:** | Category | Basis of Assessment | Type of Award | Award (up to) | |-----------------------|----------------------------------------------------------|---------------|---------------| | Best Management Team | Highest grade for Group Project | Team | 5% | | Best Presentation | Presentation, Q & A interaction, and Engagement | Team | 3% | | Most Improved Team | Highest improvement in week-to-week grade | Team | 3% | | Best Male Manager | Highest overall grade: Individual Participation + Group Project | Individual | 3% | | Best Female Manager | Highest overall grade: Individual Participation + Group Project | Individual | 3% | To participate in the **Go Global Reward Program**, individuals must maintain a minimum average, week on week, of at least **70%**. These grades will be added to your group project, contributing to a maximum of **20%** of your final grade. Additionally, a leader board showcasing the top-performing teams will be shared each week. Remember, excellence and active participation can lead to exciting rewards! Page 9 of 9