Marketing in International Business

Question 1

Market Entry Strategies

Answer 1

Determining how to enter a new market, such as through exporting, licensing, joint ventures, or establishing wholly-owned subsidiaries

Question 2

Product Adaptation

Answer 2

Modifying a product or service to meet the specific needs and preferences of a target market.

Question 3

Promotion

Answer 3

The methods and tactics used to create awareness and interest in a product or service, with the goal of influencing consumer behavior.

Question 4

Communication

Answer 4

The planned use of communication channels and messaging to convey information about a product, brand, or company to the target audience.

Question 5

Pricing Strategies

Answer 5

Setting the right price for a product or service based on costs, competition, and customer perceptions.

Question 6

Distribution Channels

Answer 6

Determining how products will reach the end consumer, involving decisions on intermediaries, logistics, and supply chain management.

Question 7

Market Research

Answer 7

Gathering and analyzing information about a market, including consumer preferences, competition, and economic conditions.