The International Marketing Mix & Marketing Strategies

Question 1

The 4 Ps

Answer 1

• Product
• Price
• Promotion
• Place

Question 2

Acquisition Strategy

Answer 2

• When a company purchases another company in a foreign country.
• Could eliminate competition in the market.
• Advantages are that it buys:
  employees
  management
  reputation
  cultural expertise

Question 3

Centralized Marketing Strategy

Answer 3

• Selling largely the same products and using the same marketing mix domestically worldwide.
• It does not take into account any barriers presented from specific countries.
• Rather than listening to what you like, they tell you what to want!
• Advantages:
  cost savings
  opportunity to build a global brand

Question 4

Decentralized Marketing Strategy

Answer 4

• Tailors the marketing elements specifically to the country.
• The company will hire local advertising agencies, market research firms & sales reps.
• Can include changes to:
  promotional plans
  distribution methods
  pricing
  size of products
  advertising