How do you think foreign firms assess your home culture as they contemplate introducing their products into
Question:
How do you think foreign firms assess your home culture as they contemplate introducing their products into your market?
Assume that your firm already markets its three products in your home country. It has a well-known trademark and slogan for each product, and each product is among the market leaders. Assume further that your firm has decided to begin exporting each product to each of the three countries. Research the cultures of those three countries to determine how, if at all, you may need to adjust packaging, promotion, advertising, and so forth to maximize your firm’s potential for success. Do not worry too much about whether a market truly exists (assume that market research has already determined that one does). Focus instead on how your product will be received in each country given that country’s culture.
Step by Step Answer:
Foreign firms assess the home culture of a country like the United States by analyzing various cultural social and economic factors These assessments help determine how their products will be received ...View the full answer
