BUS-M370 MARKETING(CUSTOM)W/CDE>IC<
BUS-M370 MARKETING(CUSTOM)W/CDE>IC<
16th Edition
ISBN: 9781323305867
Author: ARMSTRONG/KOTL
Publisher: PEARSON C
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Question
Chapter 15, Problem 1ALC
Summary Introduction

To discuss: M company’s standards in C Country’s market.

Expert Solution
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Explanation of Solution

Country C has a huge population compared to other countries. It paves a way for many foreign countries to have a standardized market. M Company enters the market of C Country.

M Company becomes the second leading company in Country C.

Summary Introduction

To discuss: The market strategy and program elements of Country C are similar to Country U and other countries.

Expert Solution
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Explanation of Solution

There are 4Ps in the marketing mix. They are as follows:

  • Product,
  • Price,
  • Place, and
  • Promotion.

Product:

Product refers to the goods or service available for the market for the customers. For example: washing machine and refrigerator.

Price:

Price is the amount of value of money the customer needs to get the product. For example: the price offered to buy a washing machine.

Place:

Place refers to the convenience of the purchaser to get the product.

Promotion:

Promotion deals with selling, advertisement, and sales promotion. For example: Loyalty bonus and free insurance.

Summary Introduction

To discuss: The market strategy and program element to be adapted.

Expert Solution
Check Mark

Explanation of Solution

One of the main elements in marketing mix is product. Product adaptation is the strategy used by M Company to succeed in Country C. The product adaptation refers to the adaptation of taste and preference of the local people. According to the people’s preference and taste, M Company came up with new foods, flavors, and a leading restaurant in Country C.

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