BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Largely, the products sold abroad are the same, with slight adjustments made to suit local audiences. However, for some industries, such as clothing, going global can pose significant problems
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It involves using the same marketing mix for every country. Products are not tailored to meet the needs of local markets. Instead, a single brand image is presented to all global consumers. The only adjustments that may occur are for legal or language reasons.
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Distribution strategies vary greatly depending on the country. If the business has pursued a direct investment strategy, it will operate its own stores in the destination country. However, it may be that the business has had to operate abroad alongside another company from that region.
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Detailed explanation-1: -Pan-global Marketing: Adopting a standardized product across the globe as if the whole world were a single market – selling the same goods in the same way everywhere. Global Localization: Adapting the marketing mix, including differentiated products, to meet national and regional tastes and cultures.
Detailed explanation-2: -International marketing involves the marketing tactics adopted by knowledgeable marketers in different countries specific to the markets of those countries. Global marketing, on the other hand is a marketing concept which involves the marketing efforts put in for the unique worldwide market.
Detailed explanation-3: -International marketing is the application of marketing principles in more than one country, by companies overseas or across national borders.
Detailed explanation-4: -The international marketing mix strategy involves the use of different marketing instruments to achieve positive financial results by a company operating on international or global markets. These instruments include product, price, distribution, and promotion.