MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 8, Problem 2MA
Summary Introduction
To discuss: Economic factors considered by Company M to make its
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Moots is a high-end bicycle manufacturer located in
Steamboat Springs, Colorado. Assume the company is
considering entering the Brazilian, Chinese, and Indian
markets. When conducting its market assessment, what
economic factors should Moots consider to make its de-
cision? Which market do you expect will be more lucra-
tive for Moots? Why?
A producer of insecticides wants to expand into Central America but it doesn’t want to give up control over its marketing strategy planning. Which avenue for entering a foreign market would be best for this company?
Think about the following products: packaged flour, swimsuits, textbooks, and automobiles. Describe how a firm would need to adapt the marketing for each of these products to suit conditions in China, Germany, and Saudi Arabia. In particular, think about the nature of the product, its pricing and distribution, and the marketing communications associated with it. China is an emerging market with low per-capita income, Saudi Arabia is an emerging market with a conservative culture rooted in Islam, and Germany is an advanced economy with a liberal culture.
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- Kenya will be hosting the World Safari rally 2021 circuit in October, 2021. Describe one viable business opportunity that this world event will offer. Assuming you already have a business, explain what four measures your business will undertake to ensure you profitably exploit the identified opportunity.arrow_forwardFrom the options below, which one would NOT be an opportunity that companies experience when expanding internationally? Opportunity for a new revenue source and profit. Obtaining economies of scale. Operating in a market with exactly the same competitors, cultural and political setting as the original domestic market. Opportunity to gain market share outside of the company's original domestic market.arrow_forwardA shampoo manufacturer is considering entering a developing country. During the screening process of this country it is discovered that purchasing power is very low and many people might not be able to afford their product as it is presently sold in other markets. As a global marketer which of the following is the best course of action? * O Examine Industrialized markets instead Evaluate the economic situation in that country and consider if a modified product might turn a reasonable profit Generalize that all developing countries such as this country are suffering from difficult economies situations and are not good markets to enter O Totally ignore this country because residents are poor When IKEA spent $2 billion to ppen a store in Pussia it wos potininotingarrow_forward
- Your friend, Nasir Ahmad, has his own firm manufacturing beverages such as cordials, juices and soda drinks. Yesterday, he met up with you to ask your opinion regarding increasing his firm’s profitability and profit growth. Expanding internationally is one of his options; however Nasir does not know how global expansion can actually increase the value of his products and his firm other than by the increasing sales and volume of his products from international markets. Explain to Nasir two ways how global expansion can create value and increase profit and profit growth for his company in the future.)arrow_forwardYou work for a company that designs and manufactures personal computers. Your company’s R&D centre is in Michigan. The computers are manufactured under contract in Taiwan. Marketing strategy is delegated to the heads of three regional groups: a North American group (based in Chicago), a European group (based in Paris), and an Asian group (based in Singapore). Each regional group develops the marketing approach within its region. In order of importance, the largest markets for your products are North America, Germany, Great Britain, China and Australia. Your company is experiencing problems in its product development and commercialization process. Products are late to market, the manufacturing quality is poor, costs are higher than projected, and market acceptance of new products is less than hoped for. What might be the source of these problems? How would you fix them?arrow_forwardColgate-Palmolive sells its products in many countries throughout theworld. How would you expect its marketing strategy to differ in variouscountries, compared with that in the United States? Consider variousareas across the globe in formulating your answer.arrow_forward
- Consider the macroenvironment facing a large, international airline headquartered in the United States (such as American Airlines or United Airlines). Give at least three examples of important trends or events from each of the segments of the airline's macroenvironment (macroeconomic, global, technological, demographic, social, political, and legal), and explain whether each represents a threat or an opportunity for the firm.arrow_forwardYou have been hired by a company to lead its local and international expansion efforts. Considering that the company already has products which its markets on a small scale locally, it has become imperative that it makes additions to its current product variants, as well as promote these new and existing products in markets other than its existing markets. Propose four relevant strategies and the key marketing mix decisions you have to make in achieving its expansion objectives.arrow_forwardYou are a consultant to a small size Company engaged in Halal Food Products. The company is interested to expand its business to Europe and North America. Prepare a business report focusing on the business potential. Also, give advice on the entry mode and external risks if the decision is made to do business in the Europe and North America.arrow_forward
- You are a successful entrepreneur operating a local business for the last five years in your chosenindustry. Since your business has grown over the years you have now decided to take your businessoverseas and are considering two options. The first is to enter another Asian country with yourproduct/service and the other is to enter a country in Europe. Justify market entry & exit strategies that can be perused by the organisation and potential risksthat can be envisaged? The answer should be for ONE of the two chosen countries.arrow_forwardIdentify and briefly discuss the key reasons why a company may consider expanding outside its domestic market.arrow_forwardThe Story of Irie Inn Since 2020 market demand for better quality low-cost accommodation in Kingston, Jamaica has grown significantly due to a decline in global economic conditions; which has in turn led to declining incomes in many source markets. In 2022, Laura and Mike Reid developed a concept, called Irie Inn, which imitated the market leaders in several ways. The Reids franchised the new brand and now five Irie Inns operate within the Caribbean region. With intense competition from Days Inn, Express by Holiday Inn, and Hampton Inn by Hilton; Irie Inn has been slowly gaining market share. With a marketing objective ‘to be the customer’s only choice’ in the budget market, the Irie Inn brand team – who had complete control of all elements of the marketing mix – focused on setting and maintaining consistent brand standards. Properties that failed the brand standard’s inspections were de-branded and franchise agreements terminated. The Marketing Mix: Product – low-cost, mid-market…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios