MKTG630 Project: Developing Marketing Goals for MM Inc. Product

This project focuses on developing effective marketing goals for Mobile Manufacturing Inc.'s (MM) new product. It outlines key elements for a successful marketing campaign, including SMART (Specific, Measurable, Attainable, Realistic, Time-bound) objectives. The project compares the advantages and disadvantages of marketing in both local and international markets, considering factors such as consumer base, market share, and potential barriers like language and cultural differences. It explores various expansion strategies, including direct exporting, licensing, franchising, joint ventures, and acquisitions, along with their respective pros and cons. The project also emphasizes ways to improve customer satisfaction through interaction and feedback, and it includes references to relevant marketing literature.

Mobile Manufacturing
Marketing goal
MKTG630

Introduction
 Marketing goals that are significant for developing an excellent
marketing campaign for the new product of MM.
 The key element that needs to be considered before creating the
marketing campaign
 Possible barriers that may affect the promotion of new product
launch

SMART objective
 S- Specific
 M- Measurable
 A-Attainable
 R- realistic
 T- Time-bound

Marketing goal for the new product
of MM
In order om promote the new product of MM in international
and global market, the following goals will helpful.
 To enhance the international and local sales that up to 10% within
one year by increasing consumers’ satisfaction from services
 To increase the market share of MM by 15% in the next six months
by enhancing the awareness of the new product
 To excavate the retune of investment by 10 % within 6 months

Advantages of marketing in the
local market
 High understanding
 Easily reach the target audience
 Cost-effective operation due to local business

Disadvantages of marketing in the
local market
 Creates an issue in making a new brand image
 Low sales affect the profitability

Advantages of marketing in the
international market
 Large consumer base
 Increase sales and market share in the vast market
 Increase the visibility of business at an international
platform
 High stability to the business

Disadvantages of marketing in the
international market
 Difficult to determine the availability of growth potential
 Language barrier
 Cultural barrier
 Change in regulatory framework

Expansion in the international
market and local market
 Direct exporting
 Licensing and franchising
 Joint venture
 Sole venture
 Acquisitions

Expansion in the international
market and local market
 Direct exporting
 High control over the product
 Understand the requirement of customers
 Get the opportunity to provide excellent services
 enhance the return of investment

Expansion in the international
market and local market
 Licensing and franchising
 lower operational cost
 lower risk
 fast entry
 high competition
 Royalty decrease the revenue
 Joint venture
 tie-ups with local business
 share the resources
 strong trading low for overseas business

Expansion in the international
market and local market
 Sole venture
 Increases the return of investment
 High control over the whole operation
 High investment
 Higher risk of loss
 Acquisition
 Purchasing the local firm
 Opportunity to get local human resources
 High investment
 Barriers in integration with home office