Concept explainers
To discuss: M company’s standards in C Country’s market.
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.
To discuss: The market strategy and program elements of Country C are similar to Country U and other countries.
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.
To discuss: The market strategy and program element to be adapted.
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.
Want to see more full solutions like this?
- The Kellogg Company is the world's leading producer of breakfast cereals and convenience foods, such as cereal bars, and aims to maintain that position. In 2006, Kellogg's had total worldwide sales of almost $11 billion (£5.5 billion). In 2007, it was Britain's biggest selling grocery brand, with sales of more than £550 million. Product lines include ready-to-eat cereals (i.e. not hot cereals like porridge) and nutritious snacks, such as cereal bars. Kellogg's brands are household names around the world and include Rice Krispies, Special K and Nutri-Grain, whilst some of its brand characters, like Snap, Crackle and Pop, are amongst the most well-known in the world. Kellogg's has achieved this position, not only through great brands and great brand value, but through a strong commitment to corporate social responsibility. This means that all of Kellogg's business aims are set within a particular context or set of ideals. Central to this is Kellogg’s passion for the business, the…arrow_forwardQs1. Identify and evaluate at least three viable business ideas from a Pakistani or other country perspective that could effectively be started and implemented with our country. Your idea should be unique and provide a competitive advantage. Your answer should also be specific and to the point. it must be 1.5 page lengthy.arrow_forwardDiscuss which international strategy could be used to attract customer to the US market to purchase Audi motor vehiclesarrow_forward
- what market entry mode was used by Shell Petroleum Development Company (SPDC) Oil & Gas Multinational. to enter Nigeriaarrow_forwardhttps://www.forbes.com/2009/12/08/china-oreo-tang-cmo-network-kraft/?sh=5b7aaa9b691c Describe in your own words the situation presented by the case in “How Kraft Won in China”. Explain the successful marketing mix in terms of the case presented and the strategies focused on products, pricing, advertising, and distribution.arrow_forwardwhat is an internal industry analysis of the dry fruit products in africa ? detailed answer in three paragraphs.arrow_forward
- Which of the following is an advantage for Jennifer to "Go Global" with her local beauty supply products? Select one: a. boosting sales and profits. b. extending the life cycles of her products. c. increasing competitiveness. d. A, B & C.arrow_forwardAccording to your understanding of International Marketing role in global business operations, the following statement: "Understanding marketing research is NOT important for marketers, especially global marketers, since Marketing Research DOES NOT help in reducing uncertainties associated with global business operations and it is very expensive." Question 17 options: a) True b) Falsearrow_forwardAnswer Q2 Only Q1. Critically evaluate one suitable foreign market for William Blair Companyand identify challenges and opportunities for entering it. Q2. Using relevant examples provide recommendations on how the 7P's of the marketing mix could be used to organize the new market entry for William Blair Company. Company Details: William Blair (An independent investment bank and financial services company)arrow_forward
- can u answer it as soon as possible, thanks Koon’s is a leading instant noodle producer in Malaysia. In recent years, the company has experienced a rapid growth from international sales. Its products are now producing in Malaysia, Poland and North America and selling in 20 countries across Asia, Europe and North America. The success comes from its product localization, where it varies its instant noodle in ingredients, favours and packaging for buyers in different countries. Currently, Koon’s would explore theuntapped market in South Africa. (b) Identify and explain any THREE foreign market entry strategies that Koon’s could adopt to enter the South Africa market. Illustrate each strategy with an example from Koon’s case.arrow_forwardGive an example - real or fictive - of a company where the conventional value chain is supported by the virtual value chain in its internationalizing process and describe in detail how this interaction process works!arrow_forwardwhat market entry strategy was used by Shell Petroleum Development Company (SPDC) Oil & Gas Multinational. to enter Nigeriaarrow_forward
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning