Strategy of international business

Question 1

Product promotion strategy

Answer 1

Environment
Target
Product/concept
Pricing strategy
Distribution

Question 2

Profit determined by

Answer 2

V (value customers place on product)

C (cost of production)

Question 3

Customer surplus

Answer 3

Price charged by firm is less than value placed on it by customer (V-P)

Question 4

Trading up

Answer 4

Things more expensive than they should - for rich people