BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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sales promotion
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personal selling
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public relations
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brand placement
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Detailed explanation-1: -A gray market is a trade that legally sells new products outside of a company’s authorized distribution channels. This can include more expensive products, such as software, cars and pharmaceuticals, as well as retail goods, like shoes, clothing and electronics.
Detailed explanation-2: -The cost reduction provided by economies of scale allows the firm to introduce competitive pricing. In addition, a standard product ensures quick response times to the market, provides a global standardized image and better control over marketing strategies.
Detailed explanation-3: -Odd-even pricing occurs when a company prices a product a few cents or a few dollars below the next dollar amount.
Detailed explanation-4: -Customization refers in the context of international marketing to a country-tailored product strategy which focuses on cross-border differences in the needs and wants of target customers, appropriately changing products in order for them to match local market conditions.