MKTG 411-Project Assignment Imagine that you are the CEO of a medium-sized firm in U.S.

Project AssignmentImagine that you are the CEO of a medium-sized firm in U.S. that manufactures sneakers. Your products are made in U.S. and they are generally considered to be light, comfortable, and stylish. The average price of your sneakers in U.S. marketplace is $49.99. Your total sales in 2014 exceeded 50 million dollars, which yielded a net profit of 5 million dollars for the company.Furthermore, imagine that in order to ensure the long term success of your firm and to increase sales you have decided to start selling your products in international markets. After careful analysis, you have shortlisted Mexico, China, and Italy for your initial international market entry. Please answer that following questions:1-Building on the topics that we discussed in the chapter one, and given the characteristics of your firm and the shoe industry, summarize the advantages and disadvantages of internationalization in two separate paragraphs. (6 points)2-Do a brief online research and A) describe the general cultural elements of China, Italy, and Mexico; focus on language, religion, values and attitude, and manners and customs. B) Which one of the cultural elements, depicted in exhibit 3.1 in the book, do you think will create the greatest challenge for your company’s future success in international markets? Explain. C) Using the data available on Hofstede’s website (http://geert-hofstede.com), compare and contrast the five cultural dimensions of Mexico, China, and Italy; for each dimension, discuss how the different scores should be interpreted. (32 points)3-A) In three separate paragraphs, describe the economic environments of Mexico, China, and Italy. B) In three separate paragraphs, describe the political and legal environments of Mexico, China, and Italy. (12 points). Please note that you should use reliable sources of information (example: CIA World Factbook, WTO, IMF) and clearly cite your source(s).Imagine that Based on the analyses above, you have chosen the Italy as your first international market. Please answer the following questions.4-Do a brief marketing research and using the secondary data that you can find online: A) perform a competitive analysis in Italy’s marketplace (1-2 paragraphs; for more information, review chapter 7). B) Carry out a SWOT analysis in a 2 × 2 table. C) Choose the best target market in Italy and clearly describe your customers in terms of their demographic, geographic, psychographic, and/or behavioral characteristics. D) Describe your positioning strategy, and discuss how you are going to differentiate your product from all the other existing products in the marketplace (1-2 paragraph[s]). E) Which one of the Michael Porter’s competitive strategies would you choose as your business level strategy? Why? F) Which one of the market entry strategies would you choose to enter Italy’s marketplace? Explain (1 or 2 paragraphs). (24 points)5-A) What is the core benefit that your product offers (chapter 11)? B) Which level of the basic needs, described in Maslow’s hierarchy of needs, does your product seek to satisfy? C) Describe all the additional benefits that you would like to add to your product (shown as tangible product, intangible product and augmented product components in Elements of a Product concept at the beginning of CH.11) in order to increase the customer value. (6 points)6-Develop an advertising program for your product. A) Identify your target audience. B) Specify your advertising objectives (your objectives should be S.M.A.R.T). C) Based on your answers in the previous questions, clearly articulate the core message of your ad. D) What type of ad appeal will you choose to communicate the core message of your ad? Why? E) Which type of media would you choose for your ads? Why? (20 points)