International Marketing

Question 1

variables of marketing mix

Answer 1

• product
• place
• price
• promotion

Question 2

Market segmentation

Answer 2

• process of identifying groups of costumers
• groups differ among many variables (age, geography, social status, income, gender etc)
• helps companies to match their marketing mix with the needs of the identified group

Question 3

Marketing Mix: Product

Answer 3

Attributes of product need to be adjustet in order to:

• fullfill customer needs
• meet product/technical standard in different countries
• satisfy economic development that affect costumer bavior

Question 4

Marketing Mix: Promotion

Answer 4

• Communication the product in different ways to meet adress costumer needs
• also cultural differences, law issues etc

Question 5

Push marketing

Answer 5

Company brings product to costumer (pushes it to costumer)

• industrial products, very technical parts
• short distribution products
• personal selling emphasis

Question 6

Pull marketing

Answer 6

• Costumer is being pulled to the product with advertisment
• mass media promotions
• try to match exactly customer needs
• mass media emphasis

Question 7

Place/Distribution

Answer 7

Distribution strategy of products:

• long/short channel
• direct indirect
• -> how is the product come from seller to end user?

Question 8

Pricing

Answer 8

basic three pricing strategies:
- cost plus: price according to cost of serving different markets –> additional cost according to transportation, tarriffs, and logistics will be added to the usual price
- multipoint pricing: prices in one market may affect prices in another market—> subsidize low price market from high price markets
-global pricing
premium pricing to take advantage of global elites or position brand/product as premium