Compile a market entry plan for a hospitality or events organisation for a particular country – Chile. It can be in regards to the events, hospitality or tourism industry.
1. Identify a potential overseas market for entry by an established organisation and examine its market potential and feasibility.
2. Critically evaluate political, economic cultural and competitive issues likely to be encountered when attempting to enter this new market.
3. Create an appropriate market entry strategy in order to justify entry by a new brand. For this assignment you are required to develop and critique an entry strategy for country selected from the list of mainly emerging economies. (see list on module site)
a) For the country thatyou have selected, carry out an audit to assess its level of attractiveness for a hospitality, tourism or events business which may be considering entering this new market.
b) The report should identify the type of business and sector in which it will operate but does not need to be brand specific. c) Consider RELEVANT PESTEL factors along with its natural resources, transport infrastructure, cultural idiosyncrasies, risk and corruption.
d) When considering the PESTEL factors your focus should be on the ones most relevant to the business.
e) Do not just list all the possible factors. Explain how the factors selected could impact on the business.
2. Your report should pay particular attention to; ? market size, segmentation and positioning, ? social trends, consumer behaviour,? market structure and analysis, competitor analysis, ? communications strategy, ? pricing decisions, any legal and environmental issues..
3. Your report should finally recommend and justify an appropriate method of market entry considering also the level of risk involved with your recommendation. It is expected that your report will refer to the relevant models and theories covered in the lectures where appropriate. Correct report format, including a title page, contents page, numbered pages, use of headings, sub headings and references in line with UCB guidelines are required.
