Brief overview of PEST of the country you recommend moving to. facts/ figs. It may be worth highlighting Hofstede of the country (if available) compared to the UK
Task one, for consultant one.
SOSTAC diagram to be included as part of your introduction.
S Brief overview of PEST of the country you recommend moving to. facts/ figs. It may be worth highlighting Hofstede of the country (if available) compared to the UK
O Ensure objectives are SMART. They could relate to financial, operational, Human Resource and Customer related elements of the business.
Task two, for consultant two.
S Outline the strategies you recommend to fulfill the objectives set. Consider- Porters Generic - cost/ differentiation/ focus, Ansoff’s- new market development, market entry mode, Pricing and positioning strategies.
T PRODUCT - product life cycle/ Boston matrix, product portfolio. PRICE- price elastic/ inelastic, penetration/ skimming/ neutral. PLACE – distribution, location, in store Vs. on line. Promotion- which of the nine tools will you use? Be specific on the channels/ mediums you will use, and why they would be relevant.
Present a summary of how/ if you will use Standardisation, Adaptation and Glocalisation for each of the P’s covered. Provide examples of how each P would look in the new country and explain the rationale/ thinking behind the decisions. Strong ones will be linked to the PEST findings. Maybe use a table, as follows:
|
|
Standardisation |
Adaptation |
Glocalisation |
|
Product |
|
|
|
|
Promotion |
|
|
|
|
Price |
|
|
|
|
Place |
|
|
|
Finally-Justify why you have chosen this country as a new market for the company. You can do this in two ways
1) Link this to the PEST findings of the SOSTAC. Things to consider might be:
- Size of the market
- Demands of residents in the target country for the products/ services your chosen company offers.
- Government openness to foreign direct investment (FDI)
- Do the average earnings/ disposable income of citizens make the company’s offerings affordable/ realistic?
- Social/ cultural cues
- Avoid repeating PEST findings your group has used in other parts of the SOSTAC.
OR
2) You can complete a Porter’s Diamond. Here is an example of a Porter’s Diamond created to move Merlin Entertainment Group plc to Cuba:
