international marketing

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you have to look the doc first, then ANSWER THE FOLLOWING QUESTIONS.


  1. Explain steps in market segmentation

  1. (A) What are the factors that prompt international business concerns t invest in foreign countries? Discuss giving suitable examples.

  • (B) Discuss the role of China’s trade representatives abroad in export promotion.
  • Study the case given below and answer the questions given at the end.


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ANSWER THE FOLLOWING QUESTIONS 1. Explain steps in market segmentation 2. (A) What are the factors that prompt international business concerns t invest in foreign countries? Discuss giving suitable examples. 2. (B) Discuss the role of China’s trade representatives abroad in export promotion. 3. Study the case given below and answer the questions given at the end. A major cereal manufacturer produces and markets standardized breakfast cereals to countries around the world. Minor modifications in attributes such as sweetness of the product are made to cater to local needs. However, the core products and brands are standardized. The company entered the Chinese market a few years back and was extremely satisfied with the results. The company's sales continue to grow at a rate f around 50 percent a year in China and other Asian countries, and based on the market reforms taking place, the company started operations in India by manufacturing and marketing its products. Initial response to the product was extremely encouraging, and within one year the company was thinking in terms of rapidly expanding its production capacity. However, after a year, sales tapered off and started to fall. Detailed consumer research seemed to suggest that while the upper-middle social class, especially families where both spouses were working to whom this product was targeted adopted the cereals as an alternative meal (i.e., breakfast) for a short time, they eventually returned to the traditional Indian breakfast. The CEOs of some other firms in the food industry in India are quoted as saying that non-Indian snack products and restaurant business are the areas where MNCs can hope for success. Trying to replace a full meal with a non-Indian product has less of a chance of succeeding. You are a senior executive in the international divisions of this food MNC having post-graduate qualification in management from IGNOU and several years of experience of operating in various countries in a product management function. You have been appointed head f the fact finding mission to determine answers to these specific questions. What, in you opinion, would be answers to these questions? (a) Was entering the Indian market with a standardized product a mistake? Justify. (b) Was it a problem of the product, or the way it was positioned? (c) Given the advantages to be gained through leveraging of brand equity and product knowledge on a global basis, and the disadvantages of differing local tastes, what would be your strategy for entering new markets?
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Explanation & Answer

Attached.

Running head: MARKETING

1

Marketing
Student’s Name
Institutional Affiliation
Date

MARKETING

2
International Marketing

1. Steps in Market Segmentation
The first step in market segmentation is to determine the needs of customers in the
particular market. This step is made successful by grouping the customers in terms of their needs
such as their terms of consumptions and preferences. Secondly, the segment is identified
according to the needs of the customers. A marketing strategy can decide to choose a segment
based on geography, demography of psychograph. It involves differentiating the people from a
crowd of people with distinct consumption habits (Cross, Belich & Rudelius, 2015). Thirdly, the
most appealing, attractive and demanding segment out of the several options identified is
selected and applied in the marketing process. This can be selected in terms of profit making and
by considering the segment that is giving much profit. The fourth step is the positioning of the
segment. This implies creating the product in the minds of the consumers. The firm, at this point,
has to capture the mindset of the customers as to how they rate the brands of the firm. Once the
business identifies the segment that meets its objectives, the fifth stage is to expand the segment
for the most profitable sales of the firm. Lastly, a firm is advised to incorporate the segment that
works best into its marketing strategy and the regions, demographics or psychographics with
many consumers become the best targets for the company (Liu et al., 2018).
2. (a). Factors that Prompt International Business ...


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