With the example of an appropriate product, explain the behaviour of production, consumption, export and import of a product using Vernon's International Product Life Cycle Theory in advanced nations and least developing nations.
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With the example of an appropriate product, explain the behaviour of production, consumption, export and import of a product using Vernon's International Product Life Cycle Theory in advanced nations and least developing nations.
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- Think about the following products: packaged flour, swimsuits, textbooks, and automobiles. Describe how a firm would need to adapt the marketing for each of these products to suit conditions in China, Germany, and Saudi Arabia. In particular, think about the nature of the product, its pricing and distribution, and the marketing communications associated with it. China is an emerging market with low per-capita income, Saudi Arabia is an emerging market with a conservative culture rooted in Islam, and Germany is an advanced economy with a liberal culture.Write about the international product guaranteeing the following: 1- International product policy 2- Preparing products for international markets 3- Steps to deliver goods to international marketsAn alternative for global marketers is to alter a basic product slightly to meet local conditions. Explain with an example?
- Contrast the concepts of standardization and adaptation from the perspective of international marketing strategies.Within 20 years, we will have seen the emergence of enormous global markets for standardized consumer products. Do you agree with this statement? Justify your answer.Please answer the following: What is the relevance of the product life cycle theory in doing international business?
- Answer all questions a to d A) Examine the pros and cons of trade agreement between two countries of one of the latest bilateral deals since Britain exited the European Union for both countries B) Many countries have entered into trade agreements for mutual benefits. The most recent in Africa is the African Continental Free Trade Area (AfCFTA). Examine how this agreement will impact participating African countries C) Much of the world’s current economic activities is concentrated in a group of countries called the Triad (Japan, EU and United States). What is the potential threat of China to these international economic drivers? D) Critically examine the extent at which the following factors have enhanced the growth of International Business: i) Expansion of technology ii) Growing consumer pressures iii) Increased global competition iv) Changing political situations v) Expanded cross-national corporationCountry Market Assessment-Under Armour Apparel Under Armour is at the forefront of its industry producing performance apparel for men, women, and youth. The company provides products from everyday wear to just about any sport activity in virtually all climates and conditions. The company has made itself known over the past 10 years by putting quality first for its customers. Headquartered in Baltimore, Maryland, Under Armour continues to grow as a strong competitor in the industry with offices located in many areas of the world, including Denver, Colorado; Toronto, Canada; Hong Kong, China; and London, England. You will be reviewing some of the steps Under Armour makes when it begins to enter a foreign market. Firms must assess the viability of various potential foreign markets before choosing to enter. Four sets of criteria are necessary to assess a country's market. They are economic analysis, infrastructure and technological analysis, government actions or inactions, and…This is about the development of new products in international markets. Remember that products are defined or refer to goods and services. You must answer the following questions: Discuss the advantages of conducting market research and analysis in order to implement a product internationalization strategy. Contrast the concepts of standardization and adaptation from the perspective of international marketing strategies.
- “The product life cycle theory by Raymond Vernon seems to be an accurate explanation of international trade patterns.” Explain.Evaluate at least three international market entry methods for the selected product/service in Israel. What are the advantages and disadvantages of each method?The over-allocation or over production of goods and services leads to market failure and unsustainable development.a) Define the term sustainable development in approximately 100 words