Practice 11

Question 1

Advantages of standardized product and advertising

Answer 1

• cost efficiency
• consistent brand image
• faster time to market
• global recognition and presence

Question 2

Considerations when standardizing

Answer 2

• Price positioning
• Product distribution
• Push & Pull Promotion
• Marketing strategy

Question 3

Price escalation

Answer 3

Price of product increases as it moves through different stages of the export process (production to distribution in international markets)

Question 4

Price Positioning

Answer 4

• Government intervention
• Market Diversity
• Export Price Escalation
• Fluctuations in Currency
• Fixed vs Variable pricing

Question 5

Common Marketing Orientation (internal to external)

Answer 5

Production concept
Product concept
Sale concept
Marketing concept
Social Marketing Concept

Question 6

Production orientation

Answer 6

Efficiency, Quality, Capacity

Question 7

Customer/ product orientation

Answer 7

Focus on customer needs in a particular market

Question 8

Sales orientation

Answer 8

Global customers reasonably similar

Question 9

Strategic Marketing orientation

Answer 9

Incremental product adaptations to satisfy local customers

Question 10

Social marketing orientation

Answer 10

Preserve and enhance the well-being of all stakeholders

Question 11

Common market segmentation

Answer 11

Geographic approach:
- countries
- regions
Consumer Approach:
- Global market
- Marketing-mix Adaptation (Maintain some variables such as promotion, branding, distribution and adapting others)
- Mass market vs niche market (Depending on the size of the market in a specific country compared to other)