Select a product that could be sold in a different market – this should be a product that is popular in the US that is not being sold in a specific international market (country or region). Research the potential market for your product. Who would it appeal to (segmentation and targeting)? How big is the market (potential market size)? Complete the Country Notebook Outline (Double-spaced, Arial 10 pts )
Product: Pop Tart
Country: South Korea
The data suggested in the cultural analysis include information that helps the marketer make market planning decisions. However, its application extends beyond product and market analysis to being an important source of information for someone interested in understanding business customs and other important cultural features of the country. The information in this analysis must be more than a collection of facts. Whoever is responsible for the preparation of this material should attempt to interpret the meaning of cultural information. That is, how does the information help in understanding the effect on the market? For example, the fact that almost all the populations of Italy and Mexico are Catholic is an interesting statistic but not nearly as useful as understanding the effect of Catholicism on values, beliefs, and other aspects of market behavior. Furthermore, even though both countries are predominantly Catholic, the influence of their individual and unique interpretation and practice of Catholicism can result in important differences in market behavior.
Include short profiles of the company, the product to be exported, and the country with which you wish to trade.
II. Brief discussion of the country’s relevant history
III. Geographical setting
IV. Social institutions
1. The nuclear family
2. The extended family
3. Dynamics of the family
a. Parental roles
b. Marriage and courtship
4. Female/male roles (changing or static?)
1. The role of education in society
a. Primary education (quality, levels of development, etc.)
b. Secondary education (quality, levels of development, etc.)
c. Higher education (quality, levels of development, etc.)
2. Literacy rates
C. Political system
1. Political structure
2. Political parties
3. Stability of government
4. Special taxes
5. Role of local government
D. Legal system
1. Organization of the judiciary system
2. Code, common, socialist, or Islamic-law country?
3. Participation in patents, trademarks, and other conventions
E. Social organizations
1. Group behavior
2. Social classes
3. Clubs, other organizations
4. Race, ethnicity, and subcultures
F. Business customs and practices
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