11 Questions
What is the fundamental decision in international marketing that relates to product policy and planning?
Product decisions
What are the two potential errors in product decisions that an international marketer can make?
Imposing a global standardized product where it is inapplicable and attempting to sell products into a country without considering cultural needs
What are the three options an international marketer has when it comes to product strategy?
Exporting the home market product, adapting the home market product to meet foreign customer needs, or developing new products for foreign markets
What is the process required for selecting a product strategy in international marketing?
A careful analysis of foreign market needs, appraisal of market opportunity, and detailed product planning
What is the term used to describe the elements of product, price, promotion, and place decisions?
The Marketing Mix
What is the product decision dilemma that international marketers often face?
Whether to sell globally standardized or adapted products
What are the key factors that companies need to consider when selling in foreign markets?
Different languages, cultures, laws, rules, regulations, and requirements.
Why is it essential for companies to research a new market before entering it?
To carefully research the potential opportunity and create a market entry strategy.
What is the term used to describe markets outside of a company's own country?
Foreign Markets.
What is the purpose of creating a market entry strategy?
To successfully enter a new market.
What do companies need to consider when creating a market entry strategy?
The potential opportunity and the unique characteristics of the foreign market.
Test your knowledge of product policy and planning in international marketing. Learn how to make successful product decisions, avoiding common errors and considering cultural needs.
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