In this section, you will design strategies to influence different elements of your integrated marketing communications strategy. In order to attain the desired effect, you need to consider different levels of emphasis for the promotion mix elements (e.g., advertising, sales promotion, public relations, personal selling, direct marketing, online and social media marketing, etc.). The resulting strategy depends on the synergy between your product or service and the characteristics of your target country (i.e., host country).

You will need to investigate and discuss the following:

• Which elements of the promotion mix are currently effective for your product in the target country?
• Are there any cultural norms influencing communication in the promotion mix for the target country?
• Which advertising strategy and goals are effective for your project?
• Discuss legal regulations and cultural diversity in relation to the promotional message.
• Discuss advantages and disadvantages for your media planning strategy in terms of availability, coverage, media appropriateness, and cost.

Part II: Price Strategy (40 marks)

Explain how your pricing strategy is consistent with the broader philosophy of your company. Make sure that your pricing strategy serves sales, accounting, and marketing roles, that is, that costs are covered and profit targets are attained in accordance with market share objectives.

When setting your pricing objectives, please be specific and discuss the following aspects:

• Whether your company wishes to set prices or follow market prices in order to achieve specific objectives such as targeted returns on profit, targeted sales volumes, or other specific goal.
• Advantages and disadvantages of variable-cost (also known asmarginal-cost) pricing versus full-cost pricing alternatives for your product or service.
• Pros and cons of skimming versus penetration pricing for your product or service. What is the price sensitivity level of your potential customers?
• Price escalation factors that your product or service might face in reaching the target market (e.g., taxes, tariffs, inflation, deflation, currency, exporting costs administrative costs, middleman costs, transportation costs, etc.). Strategies to lessen price escalation effects.
• Advantages and disadvantages of international leasing and countertrading alternatives for your product or service (if applicable).
• Considerations on price quotations and administered pricing relevant for your pricing strategy.
• How are you going to get paid? Briefly outline terms of sales and terms of payment.