Write an introduction that states the purpose of the document; the name of the fictitious company, its location, and its import strategy

Your company, XYZ Trading, also imports attractive products for domestic sales. Your new job is to 1)help grow the company’s business by identifying new products for import and 2)develop an import plan for these products.
Select a product category that you believe could be an attractive import opportunity. If you are a U.S. resident, assume that the United States is your base and domestic market. If you are a resident of another country, you may use either the United States or your country of residence as your base and domestic market.
Your assignment is to write an eight- to 10-page import plan. The requirements and grading rubrics for your paper are provided below.
For your import plan:
a. Write an introduction that states the purpose of the document; the name of the fictitious company, its location, and its import strategy; and a summary of the subjects that will be covered in the plan.
b. Choose a product category and briefly justify your choice. For example, if you chose to import musical instruments, you might argue that many young people want to learn to play a musical instrument and that if you can find low-cost instruments that are easy to play and are of at least minimally acceptable quality, there could be a market for the product.
c. Select a country and vendor from which you can source your product.
d. Obtain a price and terms of sale for the product at the point of origin. (You can research this by using websites such as Alibaba.com, as discussed in the modules.)
e. Calculate a landed cost in your home country. You may either choose a specific shipping point or use the manufacturer’s factory or shipping port, and then choose a port of entry in your home country. List each component of the calculation, including your profit.
f. Identify any cultural, ethical, and legal differences between the exporting country and your home country that could have an impact on your business.
g. Check your home country’s import regulations to determine whether there are any restrictions regarding importation of your product.
h. Identify your home country’s import policies for your product, including customs duty, import procedures and requirements, and required documentation.
i. Identify and describe any safety regulations or other technical standards that apply to your product.
j. Determine whether there are any established trade agreements between your country and the export market, and explain the implications (if any) for your business.
k. Make an artificial unit-sales estimate that will generate at least $250,000 in profit to provide financial information for your recommendation.
l. Calculate a selling price, assuming that you want to earn a 25 percent margin and that your customers (e.g., vendors, distributors, retailers) will earn a 50 percent margin. State your pricing and marketing strategy, and justify it.
m. Using the information you have gathered, prepare a step-by-step plan that describes all of the actions you need to take to execute this plan successfully. Be sure to describe all of the steps necessary to import the product.
n. Use the grading rubric below as your guide.

Grading Rubric for Import Program Plan

Paper Component to Be Assessed

Does Not Meet Expectations

Minimally Meets Expectations

Meets Expectations

Introduction

0-1 point

2-3 points

4-5 points

State the purpose of the document; the name, location, and import strategy of the fictitious company; and a summary of the subjects that will be covered in the plan. Statement of purpose is missing or unclear, the information about the fictitious company is missing, and/or there is no discussion of the subjects to be covered in the plan. Some of the parameters expected in the introduction (as outlined at left) are missing. A clear statement of purpose is provided, as is the required information about the fictitious company, and there is also a complete summary of what will be covered in the plan.

Product

0-1 point

2-3 points

4-5 points

Choose a product category, and briefly justify your choice. The chosen product has no import potential, or it has import potential but a justification of the choice is missing. The chosen product has import potential, and a partial market and strategic justification of the choice is provided. The chosen product or service has import potential, and a convincing market and strategic rationale for the choice is provided.

Country and Vendor

0-7 points

8-14 points

15-20 points

Select a country and vendor from which you can source your product from among viable alternatives. A country and vendor have been selected. A country and vendor have been selected, and an explanation of why the vendor is credible is provided. A country and vendor have been selected, and an explanation of why the vendor is credible is provided, along with a comparison to alternative sources.

Pricing and Terms of Sale

0-3 points

4-7 points

8-10 points

Obtain a price and terms of sale for the product at the point of origin. A price is stated. A price and terms of sale are stated. A price and terms of sale are stated, and a rationale for the price and terms is provided.

Landed Cost

0-1 point

2-3 points

4-5 points

Calculate a landed cost in your home country. You may either choose a specific shipping point or use the manufacturer’s factory or shipping port, and then choose a port of entry in your home country. List each component of the calculation, including your profit. The cost calculation is incomplete. The cost calculation is complete, and some documentation is included. Both the cost calculation and the documentation are complete.

Social Differences

0-3 points

4-7 points

8-10 points

Identify any cultural, ethical, and legal differences between the exporting country and your home country that could have an impact on your business. Some of the significant cultural, ethical, and legal differences between the exporting country and the home country are listed. The significant cultural, ethical, and legal differences between the exporting country and the home country are listed. The significant cultural, ethical, and legal differences between the exporting country and the home country are listed, and commentary on how these differences might affect the business is provided.

Import Regulations

0-3 points

4-7 points

8-10 points

Check your home country’s import regulations to determine whether there are any restrictions regarding importation of your product. Identify your home country’s import policies for your product, including customs duty, import procedures and requirements, and required documentation. A minimal discussion of any import restrictions, special procedures, and documentation that apply to the chosen product is provided. A discussion of any import restrictions, special procedures, and documentation that apply to the chosen product is provided; information about the customs duty is supplied, along with a citation for the source of this information. A complete discussion of any import restrictions, special procedures, and documentation that apply to the chosen product is provided; information about the customs duty is supplied, along with a citation for the source of this information; and an explanation of how the import issues will be handled is included.

Safety Regulations

0-1 point

2-3 points

4-5 points

Identify and describe any safety regulations or other technical standards that apply to your product. The explanation of any safety regulations or technical standards that apply to the chosen product is minimal. An explanation of any safety regulations or technical standards that apply to the chosen product is given; or a statement is made that there are no restrictions. A complete discussion of any safety regulations or import restrictions that apply to the chosen product is provided; or a statement is made that there are no restrictions and a citation of the source of this information is supplied.

Trade Agreements

0-1 point

2-3 points

4-5 points

Determine whether there are any established trade agreements between your country and the export market, and explain the implications (if any) for your business. Any trade agreements that will affect the program are identified, or a statement is made that no trade agreements will affect the program. Any trade agreements that will affect the program are identified, and the specific, relevant treaty details are listed; or a statement is made that no trade agreements will affect the program. Citation of the source(s) of this information is included. Any trade agreements that will affect the program are identified. the specific, relevant treaty details are listed, and the ways in which this will affect the program are explained; or a statement is made that no trade agreements will affect the program. Citation of the source(s) of this information is included.

Cost Assumptions and Calculations

0-3 points

4-7 points

8-10 points

Make an artificial unit-sales estimate that will generate at least $250,000 in profit to provide financial information for your recommendation. Calculate a selling price, assuming that you want to earn a 25 percent margin and that your customers will earn a 50 percent margin. State your pricing and marketing strategy, and justify it. A basic cost assumption, an export price, and terms of sale are stated. A basic cost assumption based on an export strategy, an export price, and terms of sale are stated. Justification is provided for the export price of the product based on its cost, or the rationale for the terms is discussed. A verifiable cost assumption is made based on an actual wholesale price (with the source identified) or an actual retail price (with the source identified), and is supported by the import strategy. An import price and terms of sale are stated. Justification is provided for the export price of the product based on its cost, and the choice of terms is thoroughly discussed.

Summary

0-3 points

4-7 points

8-10 points

Using the information you have gathered, prepare a step-by-step plan that describes all of the actions you need to take to execute this plan successfully. Be sure to describe all of the steps necessary to import the product. The plan description is minimal. The plan description omits some of the necessary steps. The plan description provides a complete list and description of each of the steps needed to execute the plan.

Format, Content, and Citations

0-1 point

2-3 points

4-5 points

Your paper must be properly formatted, the required length, grammatically correct, and clearly written. You must also use an accepted citation format and include a properly formatted bibliography. The paper falls short of a majority of the requirements for format, content, and citation. The paper does not meet some of the requirements for format, content, and citation. The paper meets all of the requirements for format, content, and citation.
 

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