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Final IBP Project - Written Report

Final IBP Project - Written Report

Q International Business Project [IBP]: As a team, the International Business Project [IBP] requires students to develop an international business plan, strategies, and tactics for doing business in a foreign nation (not USA) for a product of their choice. The IBP report and PowerPoint submission must follow the IBP Guidelines and Requirements. The IBP project entails the following: 1. Research and select three countries of their choice from which the professor will assign a country to do business in. 2. Select a tangible (not a service) consumer (not an industrial) product. Select a name and create a logo for the product (be creative). 3. Form a company. Assign a name and create a logo for the company (be creative). Explain the meaning of the name and logo. 4. Environmental Analysis – Research economic, political, social, cultural, technological, legal, financial, and other information pertinent to the assigned foreign country and apply this information in the development of Marketing Mix for doing business with the selected product. 5. Marketing Mix – Based on the information researched in item #2 above, formulate and implement strategies and tactics for the Marketing Mix, i.e., the Four Ps - Product, Price, Place (distribution) and Promotion, for the selected product in the foreign nation. 6. Business Analysis – Forecasting, breakeven, and personnel and administrative aspects. 7. Recommendations for future direction. The IBP is a team assignment. The teams are required to submit an IBP Proposal for approval. A written report of 15 or more pages in MS Word and a PowerPoint submission(not any other software). Students are encouraged to use their own ideas and creativity in all stages of the project planning and implementation. Written Works and Presentations: All written requirements and PowerPoint submission must be of professional quality and adhere to the following guidelines: 1. Team size: To be decided depending on class size 2. Word-processed in MS Word®™ (no other software) 3. Professional cover page 4. 1.5 line spacing (not double spaced) 5. 1 inch margin on all sides; Left justified 6. Times New Roman font 12 for content text and 15 for headings and subheadings in bold face 7. Page number at the bottom of the page 8. Report - 15 or more pages excluding title and reference pages (no max. limit) 9. APA guidelines for the references, citations, and the report 10. MS Power Point®™ (for presentation) (no other software) 11. At least 15 PowerPoint slides 12. All copyrighted material should cite the original source IBP - Guidelines for Written Report Student teams are required to submit a 15-pages written report of their International Business Plan on the last week of class Sunday at 11-59pm. The written report submission must adhere to the requirements below. 1. Course No/Title 2. Name of the Professor and Course Term/Month 3. Team Number and Designated Team Leader 4. Team member names, NU ID numbers. 5. Name of the Assigned Foreign Nation 6. Team Company Name and Logo (be creative) - Meaning of the company name, meaning of the company logo, company mission and structure. 7. Tangible (not a service) new product and description (uses and benefits) 8. Identification of the industry for the new product 9. Marketing Objectives/Strategies/Tactics a. Product range – What is our total, core and auxiliary product? What are the product ingredients? What are the product features? How is the product used? What are the benefits of our Product? How much we buy/produce? Where do we buy/produce? How do we package and label our product? b. Target consumers/market segments – Who we market it to? What is our target customer’s profile? What are out market segments? c. Target markets – Where do we find our customers? Where we market? d. Market share/market growth – What is the size of the total market? How much we market? When we market? e. Competitive advantages/competition – Who are our competitors? What are their strengths & weaknesses? What are their Four Ps? f. Product Price –What is our cost? What is our pricing objective? How much do we charge? g. Advertising and promotion – How do we package our product? How we advertise the product - TV, radio, Internet Web Site, newspaper? How we promote the product? What is the theme and message in our advertisements? h. Market entry/outlets – How we enter our market (Export, Wholly Owned, JV)? i. Distribution – Where do we start or enter the market? How and where we move the product? What is our delivery time? What is our delivery cost? j. Profitability/volume/image – Why we market? How much profit/loss/volume? 10. Business Analysis – Forecasting, breakeven, and personnel and administrative aspects. 11. List of Cited References and Bibliography (at least 25, as per APA format) 12. Acknowledgement and Appreciations

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IBU606 Global Business Professor’s name Name of student India Introduction Name of student Enterprises is the name of the company owned and run by me. The logo of the organization will be Tiger printed with the sign of an electric bulb in front of the tiger. The meaning of the company name is my name along with my company’s representation. The meaning of the company logo is to be physically and mentally resilient like the tiger and also be innovative like the innovative ways in which the tiger catches prey. The prey for me and my company will be the customers coming to my company and purchasing my product. The company mission will be to provide customers with high quality products at lowest prices possible. The structure will be that of a sole proprietorship. The new product for Name of student Enterprises will be no-touch taps containing different kinds of fittings and technologies to ensure that customers do not have to touch the taps to use the taps. These taps will be useful during pandemic situations like the current pandemic situation of COVID-19 because of using water without touching (Sharma et al., 2020). The COVID-19 situation in India had been worst compared to other countries some months earlier in the year of 2021. The situation is under control in the present situation. However, there can be situation becoming worse in India in future because of rise of COVID-19 patients. Therefore, there has to be preparedness shown by the organizations in India to ensure that consumers can safely visit public places and keep themselves safe by using the no-touch taps. Otherwise, the businesses of shopping malls in India can become deteriorated when there is rise of COVID-19 situation in India. When there is rise of COVID-19 situation in India, there will obviously be lower number of citizens of India and visitors in the shopping malls than usual circumstances. However, the staff members of the shopping malls working in the malls will have to be provided with opportunities to work with absolute safety in their workplaces. Therefore, the no-touch taps will serve this purpose also. Otherwise, the staff members of shopping malls will not be able to work in peace or go to the washrooms in peace. The no-touch taps will be essential for every public place because there will be staff members as well as visitors coming to and going from the public place. There cannot be complete prevention of individuals in India from visiting public places. This is because there will be requirement to buy basic necessities like groceries, or even buy specific things on specific occasions like birthdays, marriages, anniversaries, etc. Industry The industry for the no-touch taps of Name of student Enterprises will be the consumer goods industry (Rezaei et al., 2020). The consumer goods industry in India must be considered to be a sector from which the Indian government as well as the private companies earn large percentage of the overall revenue of the country and private income (Prasad, 2020). Therefore, this industry will continue to flourish even during the time of pandemics because of basic necessities like groceries being offered to consumers. Customized products and customized product-packaging are also important factors for which the Indian customers tend to buy from shopping malls mostly (Prasad, 2020). There is also the presence of shopping centers in India where the customers can buy in wholesale rates but have to buy in bulk (Prasad, 2020). For example, there can be retailers or owners of retail stores who might buy from these shopping centers at wholesale rates and in bulk and then can set higher retail prices than wholesale prices. In this way, the retailers can earn profits and continue sustaining their businesses in future. The no-touch taps can fall in the category of household consumer goods in the retail as well as wholesale sectors. This is because the no-touch taps can be sold by retailers in shopping malls and in their personal shops as retail consumer goods. There can also be shopping centers categorized as wholesale markets where the no-touch taps can be sold in bulk as wholesale products. This is because there can be owners of big companies like owners of shopping malls who might require to buy no-touch taps in bulk. Apart from the household sector, there is the food and beverages sector, healthcare sector, as well as the personal care sector which are important and popular sectors in the consumer goods industry in India (Prasad, 2020).