Business

Marketing Objective

The Champion is the product which will have to be marketed in the South East Asia and a marketing objective that can be spelled out for the purpose is to produce the product in South East Asia and to market it in the country. The marketing objective can be written out by using SMART goal setting technique.

The objective will be to launch The Champion in South East Asia and make the target market, i.e., diabetic patients aware of its presence, make the sales of 20  in the first year of its launch and this would be done through extensive promotion and advertising techniques.

Marketing Plan
Marketing Plan is document which depicts the marketing objective of an organization and it can be made for a product or service. A marketing plan is written for a period of one to five years and it serves the purpose of outlining all the activities that a firm would undertake to market its product or service. Marketing plans are written in several ways and they differ from one another. They have different topic to cover and elaborate on them.

Three different marketing plans have been studied and they have been compared with each other and a final plan has been made after looking at all the aspects of them (QuickMBA, n.d.).  
 
AdvantagesDisadvantagesMarketing Plan 01Contains nearly all the items necessary in a marketing plan.Might not be implemented for international marketing.Marketing Plan 02This marketing plan is a detailed marketing plan and has the components explained in complete form.This form of marketing plan might not be domestically.Marketing Plan 03This plan is a complete plan and does not lack at any point.It can be utilized for both domestic and international marketing.
              
Marketing plan outline for The Champion
Executive Summary
Mission Statement
Product or Service description
Market
Segmentation
Target Market
Size of market
SWOT Analysis
PEST Analysis
Alternative Marketing Strategies
Marketing Strategy
 Projection of Revenue and Expenditure

Conclusion
This marketing plan includes all the aspects of a market plan. It includes an executive summary which would give the gist of what is the marketing plan about. The marketing plan is supposed to explain all the activities that would be undertaken to market the product and to make the people aware of the product.

International and Domestic Marketing
International marketing as the name suggests is the marketing done for launching a product internationally. This kind of marketing is practiced by multinational organizations that launch their products in more than one country. In this kind of marketing the marketers look over the factors such as culture of the country, customs and habits, tradition and religion there. The marketers must look into their language and their non verbal communication methods as to be careful when advertising the product. They must take care of the factors such as economic stability and economic conditions of the place before launching the product, and must make a complete analysis of factors which can affect the marketing activities (Kotler, P.  Armstrong, G.,2006).

Domestic marketing on the other hand is quiet easier than international marketing. Te marketers know about the country well and are aware of the customs and tradition, demographics and systems of their country hence it is easier to take the risk in domestic marketing than international marketing.

The multinational organizations conduct in depth research and surveys when they are marketing a product. They do this by analyzing the traditions and customs of the country, and they do this to understand if their product will be a success or not and would they be able to compete with the local brands. They also keep a check on the economic and political stability of the country and work on the technological levels of the country. These factors are the essentials for a multinational organization to consider when it goes for international marketing and devising a marketing strategy ( HYPERLINK httpwww.amazon.comexecobidossearch-handle-urlrefntt_athr_dp_sr_15FencodingUTF8search-typessindexbooksfield-authorWilliam20R.20Bigler t _blank Bigler,W.R.  HYPERLINK httpwww.amazon.comexecobidossearch-handle-urlrefntt_athr_dp_sr_25FencodingUTF8search-typessindexbooksfield-authorMarilyn20Norris t _blank Norris,M., 2004).

The dynamic organizations of today are incorporating different dimensions in their businesses. This way, they tend to integrate the cultures together to be a success. They cultural hindrances which occur due to lack of knowledge are eradicated as organizations learn about cultures of other countries. They integrate themselves into the target market and identify what are the demands of the customers. They keep an approach of outside marketing approach rather than an inside out approach. They delve deep into the minds of their consumers and learn about their desires.

In the case of the product, The Champion, South East Asia is the target place, where risks are high, but the market is lucrative because economy of few countries is booming. Political instability is one factor of concern hence they have to look about a way to keep their business surviving through the turmoil. These issues are of main concern for any business entity. South East Asia comprises of countries such as India, Pakistan, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan. The area is under political crisis but all the countries are developing nations. There economy though booming does not show a constant trend of rise and currently, the recession has made the situation a matter of concern for new businesses to open up.  The poverty rate is high and hence, pricing of the product will have to be considered before launching it in the market. Most of population which is facing diabetes is poor and can not afford expensive medicines. Hence, to make the medicine sell and make it approachable, the pricing will have to be considered (Curators of the University of Missouri., 2007).

Level of technology is also an issue while developing a marketing strategy for international businesses. The South East Asian region is not yet a developed region. The economy is and countries are still developing and the level of technology is not very high. This also possess as a problem for the organization because they will have to import the technology.

All these issues described here are those which later become as barriers towards the survival of the business. Though it is a very lucrative economic region with its own regional trade association named SAARC, the business would be able to reach out to its consumers and might become a world leader in selling the medicines for the diabetes patients.