EBK MARKETING
6th Edition
ISBN: 8220103676250
Author: Grewal
Publisher: YUZU
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Chapter 8, Problem 4MA
Summary Introduction
To discuss: Ways of Company C marketing strategies differ from the Country U to other countries by considering various areas around the globe.
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A PEST analysis can be an effective framework to use in Corporate Strategy. PEST is an acronym for Political, Economic, Social, and Technological. In very basic terms, a PEST analysis can help you determine how these factors will affect the performance and activities of your business in the long term. It can be used either to analyze the current company situation in a given market or to explore the situation at a new market the organization is considering expanding to. Please watch the following video discussing a PEST analysis in detail:
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Selected product
Features
Intended target market
Select either one of the areas Political, Economic, Social, Technological and conduct and analysis considering the United States as its reference market
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You will be conducting a strategic analysis of the country and product you selected in module one. You will explore the optimal way for an AI-powered smart standing desk into the foreign country of Vietnam and develop a marketing plan to support its entry into this new market.
Executive Summary
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Company and Product Description
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Cultural Factors to Consider for Tesla's Entry into Ecuador:
In entering Ecuador with Tesla, it is important to consider the local cultural environment. Three key areas of culture to be considered are social institutions, living standards, and language.1. Social Institutions (Business Etiquette and Communication Styles)Ecuadorian business culture is formal and hierarchical. Professionals are addressed with titles of Doctor or Ingeniero, and business attire is conservative. Establishing trust founded on personal relationships and polite conversation is also paramount in establishing successful partnerships (Privacy Shield, n.d.).2. Living Conditions (Urban Infrastructure and Transportation)The cities such as Quito and Guayaquil are densely populated and prone to heavy traffic. Ecuador is actively adopting sustainable transport. For instance, there have been introduced new electric public transportation systems with high capacity and also friendly to…
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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
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- What are the 10 things/places/foods/culture or anything that could showcase the attractiveness of the Philippines to foreign investors? To encourage them to invest?arrow_forwardExamine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization elaborate on Outsourcing and Workforce Optimization• Outsourcing customer support to third-party providers in cost-effective locations can reduce expenses while maintaining service availability. • Workforce Optimization uses data analytics to schedule staff efficiently, ensuring the right number of agents are available based on demand patterns, minimizing idle time and overtime costs. • Hybrid Models combine in-house teams for high-value interactions and outsourced teams for routine inquiries, balancing quality and cost.arrow_forwardExamine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization 2. AI-driven customer supportarrow_forward
- The various objectives of promotion. What ways does promotion benefit marketers?arrow_forward| do not copy from another same ques answer,i need differe nt one. Task Description: One of the most important questions faced by business leaders in the strategic marketing process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, the relative success of each strategy depends on several factors, both internal and external. Tasks: Answer the following essay questions: 1. What are the advantages of being a pioneer and follower company? Provide examples of successful pioneer and follower companies. 2. What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made. Follow instruction: 1. Word: within 2500 word, not bellow 2400. 2. Give table, charts, diagrams, graphs and images should be properly cited and properly named.arrow_forwardWhat is a good response to this statement? Hi Class, The global company that I believe does an excellent job of marketing is Salesforce. According to Salesforce, the International Data Corporation (IDC) ranked Salesforce as the #1 CRM vendor worldwide. (Salesforce, 2024) Every business relies on a CRM to manage its contact data, specifically, the contact information so that sales and marketing teams can communicate with the customers, prospects, vendors, partners, affiliates, and any other contact that conducts business with the company. CRM systems are the lifeline of the sales team. I believe the success of Salesforce’s marketing strategy lies in their ability to become experts of their buyers—the buyer's needs and challenges, buying drivers, social and economic drivers, and trial-to-product adoption strategies. Salesforce is constantly innovating its platform to stay ahead of competitors. The company also leverages strategic acquisitions such as Tableau and Slack to propel growth…arrow_forward
- What is a good response to this post? Hi Class, The global company that I believe does an excellent job of marketing is Salesforce. According to Salesforce, the International Data Corporation (IDC) ranked Salesforce as the #1 CRM vendor worldwide. (Salesforce, 2024) Every business relies on a CRM to manage its contact data, specifically, the contact information so that sales and marketing teams can communicate with the customers, prospects, vendors, partners, affiliates, and any other contact that conducts business with the company. CRM systems are the lifeline of the sales team. I believe the success of Salesforce’s marketing strategy lies in their ability to become experts of their buyers—the buyer's needs and challenges, buying drivers, social and economic drivers, and trial-to-product adoption strategies. Salesforce is constantly innovating its platform to stay ahead of competitors. The company also leverages strategic acquisitions such as Tableau and Slack to propel growth and…arrow_forwardWhat is a good response to this post? The company I choose for this discussion is Canon. Canon is the leader in global imaging, and they are known for their innovative cameras and high-quality products. Canon caters to various markets, and they are known worldwide to be the best imaging solutions brand in the world. Canon is the perfect example of effective international marketing strategies. Canons marketing strategy is mainly driven on their focus of innovation and technology. There new Canon R1 is labeled “ahead of the Game” and no other camera on the market comes close to what this camera offers. Their products have continued to prove that they will meet the demands of every photographer and videographer across the world. Canon has continuously stayed ahead of all of its competitors like Nikon and Sony and has maintained the number one position in the market. Canon also leverages digital marketing such as social media to enhance its brand awareness. They have used social media…arrow_forwardSuggest, three ways, your company (service and product provider) can attain asustainable competitive advantage in the local market. Give rationales for youranswer.arrow_forward
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