International Trade Project
In groups of 3 to 4 … (groups must be approved by your teacher)
Objective: To gain an understanding of the limitations and advantages to having an international company and in doing business in other countries.
Assignment:
You will create a product proposal (major grade, will cover the bulk of your research) and sales pitch video or live presentation (two minor grades) using the following instructions
1. Create a product you would like to sell here in the United States and in another country (You will have to explain in economic terms why you choose this country, so think this through). This product can be something “real” or something completely fictitious.
2. Decide which country you would like to market your product in and decide how to market the product both in the US and in the foreign market. Please be sure to take into account the customs (What part of their culture will you be marketing too? Are their cultural taboos you need to be aware of?) in each country. Come up with a marketing plan. Explain the marketing plan
Resources to utilize:
3. Decide where you want to make the product. Taking into account the business environment and restrictions/limitations on imports and exports to and from your country and the United States. Be able to give a comparative or absolute advantage explanation for your decisions. These will need to be written out and explained in economic terms.
Resources to utilize:
Business Environment
Trade Regulations
4. Price the product here and in your foreign market. For this you must research exchange rates and determine prices based on current exchange rates! This will need to be written out and explained. Also take into account production costs, to stay in business you will need to price your product so people can afford it and you can make money (or profit).
Resources to Utilize:
5. Pitch your product. You will make a marketing pitch for your product. You are trying to get me to invest in your product. Give me the information I need to know to invest. (why this product, why this location, why this market?) (Will count for two minor grades) This is NOT a T.V. commercial for your product. Your teacher is a multi-millionaire looking to invest, tell us why we should invest in your company and product. Think the T.V. show Shark Tank.
a. This presentation can be live or a video
b. It must be no more than 3 minutes long.
c. Must include all members of the group (either physically seen or heard.)
d. Must, as always, be classroom appropriate.
Product Proposal: This will be completed in a Google Form, link will be provided later. These are the questions to consider in your proposal. Remember this is a formal proposal so use complete sentences and check your spelling!
1. What is your product? What is it called and what does it “do”?
2. Where, besides the US are you going to market your product?
3. What are the customs you need to be aware of in the country you listed above?
4. What is the marketing plan (are you going to do commercials, newspaper ads, internet ads, using famous people, famous characters)?
5. Where will you make your product? Explain the comparative or absolute advantage to that location.
6. Price the product here and in your foreign market. What are the exchange rates.
7. Pitch your product. Give a general outline for how you plan to pitch your product. Outline your video here.
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