International Market Entry Business Plan
General
- Undergraduate; 4th year, 2nd year
- 24 learners; teams of 4
- 60 hours per learner
- Dates set by experience
- Learners self-assign
Preferred companies
- 1/1 project matches
- Anywhere
- Academic experience
- Small to medium enterprise
- Any
Categories
Skills
Project timeline
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February 12, 2023Experience start
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February 17, 2023Project Scope Meeting
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June 16, 2023Experience end
Timeline
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February 12, 2023Experience start
-
February 17, 2023Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
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June 16, 2023Experience end
Overview
- Details
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Students are from the Royal Melbourne Institute of Technology (RMIT University) in Melbourne, Australia and the Dundalk Institute of Technology (DKiT) in Dundalk, the Republic of Ireland. Students from RMIT are second year Associate Degree students working on their Global Business module whist DKiT students are completing their 4 year Global Marketing Degree.
The teams will create an international market-entry business plan for a partner organization. The company can be based in any country and plan expansion to any other country or countries. The two universities have six year's experience combining student cohorts to deliver project plans for client organisations. PLEASE NOTE THAT THIS WOULD SUIT PARTNERS WHO WISH TO ESTABLISH A PHYSICAL PRESENCE IN ANOTHER COUNTRY INCLUDING STAFF AND PREMISES TO BETTER EXPLOIT NEW MARKETS.
Students will create both external and market analyses of the country market(s) to be considered before recommending market entry implementation strategies.
- Learner skills
- Business consulting, Business strategy, Marketing strategy, International business, Market entry analysis
- Deliverables
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The final deliverables will be sent in the form of a 4000 word report that includes:
1. Market and External Analyses Report
2. Implementation Strategy recommendations
A virtual presentation from the student group(s) could possibly be arranged.
Project Examples
We have experience of previous work-integrated learning projects which have resulted in practical ideas for client companies. These include:
Combi Lift, an Irish fork lift truck and logistic machinery company hoping to expand their Australian business.
Hanley Energy, an energy management consultancy requiring market entry ideas for markets in South Africa, Sweden and the United States.
Ecostore, a New Zealand home products company considering entry into the UK and Irish markets.
DrinkMate an American challenger to Sodastream requesting ideas for Australian and UK markets.
LGS, a vertical agriculture company entering the German and Indonesian markets.
RMIT students have also worked for Japanese pharmaceutical giant Takeda on a project to provide blood and blood plasma donation services in Indonesia.
Some examples of tasks include, but are not limited to:
- Helping partners to identify which international market(s) to enter with either an existing or new product or service.
- Suggesting how to enter an international market (including identification of key risks and launch strategies)
- Providing tactical or operational recommendations for a defined market entry/expansion strategy (i.e. hiring/management strategies, cultural norms, and laws/regulations)
- Identifying potential international partners for international expansion, and providing a strategic overview
Additional company criteria
Companies must answer the following questions to submit a match request to this experience:
Be available for a Zoom call with the RMIT/DKiT academics to initiate our relationship and confirm your project objectives are appropriate for our program.
Provide a dedicated contact who is available to answer periodic emails or phone calls from our nominated academic over the duration of the project to address students' questions.
Be available for a 30-60 minute briefing to kick off the project with the students in order to introduce your company and answer questions.