EP MARKETING:REAL PEOPLE...MYMKTG.ACC.
10th Edition
ISBN: 9780135209912
Author: Solomon
Publisher: PEARSON CO
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 2, Problem 1QA
Summary Introduction
To determine: Market condition which influence firm’s decision for enter foreign markets.
Introduction: Foreign market means where different companies from different countries come to trade their product and services. Foreign market helps in selling the product in another country than in its own country.
Expert Solution & Answer
Answer to Problem 1QA
While entering in foreign market company must see its competitors already working in foreign market. Worth of its product whether it will work in assumed way or not.
Explanation of Solution
Given information: Market condition which influence firm’s decision for enter foreign markets.
Before entering the foreign market company must know its opportunities to grow further and earn profits. Companies must know their product’s worth in global market with which they will get profit.
Knowing the value of your company in foreign market helps to develop more and better product or service. Market conditions in which you are currently running your business should be generating profit and growth. Watching competitors how they are dealing in foreign market will help a lot in entering global market.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Can you please write out a Tiktok strategy for a major small kitchen applicance brand ?
I need help answering the following questions below
Assuming that I have been asked to visit the Medicare website to research competitors in my area
Navigating to the care comparing section of the Medicare.gov website and search for several hospitals in my area.
Hospital I choose: Bon Secours, Greenville SC
What aspects from the data would I market to the community to encourage people to choose this provider?
How could I improve the negative aspects of the data to improve the image and encourage consumers to choose this provider?
Response to G.H.
Product Strategy Simple Mills has established strong brand equity through its commitment to providing clean, nutritious, and delicious food products made from simple, whole food ingredients. The brand's focus on health and wellness, transparency, and sustainability has cultivated a loyal customer base that values these attributes. Simple Mills' products are perceived as high-quality and trustworthy, which differentiates them from competitors who may use artificial additives or less nutritious ingredients. This differential influence allows Simple Mills to command a premium price and maintain a competitive edge in the market. Ethical implications of Simple Mills' products span from development through use and disposal. During development, Simple Mills prioritizes the use of natural, non-GMO ingredients, which supports sustainable farming practices and reduces the environmental impact of food production. This ethical approach aligns with consumer demand for transparency…
Chapter 2 Solutions
EP MARKETING:REAL PEOPLE...MYMKTG.ACC.
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- Choose a health care organization to examine their brand and marketing strategies. I need help answering the following questions about Healthcare claims in a Hospital Sharing about the chosen organization. Describing their brand. Exampling one of their marketing campaigns? And How does the marketing campaign support the brand?arrow_forwardWhy all app now is ask us to pay ? Now there is a scammer app or website that claims to be free but it's not why ? now app is ask money i m frustratedarrow_forwardI need help completing the chart belowarrow_forward
- James Shoe Emporium, a retail brick and mortar shoe store caters to the higher income market in your country. However, the establishment has been experiencing falling revenue since the August 2024. The owner of the company believes that marketing and selling his shoes via the internet might be the solution. He has hired you to formulate an emarketing plan to do so. You have decided to use the following e-marketing strategies (content marketing, email marketing, mobile marketing, online advertising and social media engagement). Why? State how you would manage ethical and legal issues in the digital environment.arrow_forwardJames Shoe Emporium, a retail brick and mortar shoe store caters to the higher income market in your country. However, the establishment has been experiencing falling revenue since the August 2024. The owner of the company believes that marketing and selling his shoes via the internet might be the solution. He has hired you to formulate an emarketing plan to do so. Develop a background for James Shoe Emporium. Describe the following: location of the company – country and city/town, type of shoes sold and price, the target market. State why the owner is considering using e-marketing. What benefits can e-marketing bring?arrow_forwardImagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo. Beyond the activities that the company will utilize to promote the shampoo, briefly outline three other relevant and appropriate activities that the company can undertake to build support for the…arrow_forward
- Imagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo. Recommend a secondary target market for the shampoo given its abilityarrow_forwardHgghhhhhhhhgghhhgarrow_forwardRespond to G.H. Good Evening Professor and Classmates, Hairitage Shampoo, founded by YouTube influencer Mindy McKnight, offers a range of hair care products that are vegan, cruelty-free, and formulated with natural ingredients. (Quinn, 2024) The brand's competitive advantage lies in its differentiation through personalized solutions for various hair types and its strong brand identity built by McKnight's YouTube channel, Cute Girls Hairstyles. To sustain this competitive advantage, Hairitage should continue to innovate its product line, maintain high product quality, and leverage Mindy McKnight's influence for marketing. (Hairitage Shampoo Good For Hair? Reviews, Ingredients And More!, 2024) Additionally, expanding its distribution channels and engaging with customers through social media can help reinforce brand loyalty. Barriers to entry for competitors include the high costs of product development and marketing, establishing a strong brand identity, and navigating regulatory…arrow_forward
- The product I chose and use daily is cetaphil. Cetaphil's scientific research, marketing, and customer-focused products give it a competitive edge in the skincare sector. However, some of Cetaphil's advantages can be copied by rivals, therefore in order to keep a competitive edge, Cetaphil could need to create exclusive resources. Strong brand recognition and customer loyalty developed over time, a reputation for gentle and effective skincare, established distribution channels, a diverse product range catering to different skin types, and the need to navigate stringent regulatory requirements within the cosmetics industry are some of the main obstacles facing competitors attempting to enter Cetaphil's market or gain a competitive advantage. In other words, breaking through the perception of Cetaphil as a dependable, trustworthy brand for sensitive skin could be a significant challenge for new entrants. Respond to this posts with what value is provided to customers from your…arrow_forwardUsing the information provided and Identify Converse as a brand, mention the products regularly used, and analyze their marketing strategy in a general sense. comprehend and examine the brand's use of social media, focusing on how this has been advantageous in achieving positive results and fostering user loyalty over time. Also, consider other communication channels and social media platforms besides Instagram that Converse employs to establish its market presence. Also, answering these questions How does the brand use social media for different promotions you have found? How does the brand attract customers What kind of customer service does the brand offer on it’s social media platforms? How could social media be used for research and sales purposes? How does the brands online presence function, and how can it be integrated with traditional marketing? demonstrate a deep and critical understanding of Converse's digital marketing strategy on social media, evaluating its…arrow_forwardDoes Doritos chips have a competitive advantage (e.g., cost, differentiation, etc.) compared to other chips brands? If not, what is your recommendation for it to attain a competitive advantage? Is the competitive advantage sustainable because of relevance or defensibility? How would your recommendation lead to a sustainable competitive advantage if you answered "no" to question one? What barriers does the competition face to entering the exact market or gaining a competitive advantage?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing