MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
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Question
Chapter 8, Problem 1MA
Summary Introduction
To discuss: Globalization and the reason it is important for marketers to understand its consequences.
Expert Solution & Answer
Explanation of Solution
Globalization is the process of by which goods, capital, services or information and the ideas which flows across the national borders and it helps to remove the cross border trade barriers. It allows the goods and services or ideas to move efficiently around the globe. Which in turn, facilitates the quick delivery of services or goods to better meet the needs and wants of the global consumers.
Globalization helps various consumers to easy access of variety of global products and services. In addition it is also important for the organizations to identify the new growth opportunities for production as well as the expanding the business throughout the globe.
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Marketing Management Spring 25
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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.
Identity the primary target market for your shampoo and provide your justification.
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