Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do I reply to this responce? please help me . The product that I chose and is marketed in the USA that wants to
How do I reply to this responce? please help me
The product that I chose and is marketed in the USA that wants to increase its sales and profits by marketing in a different country market are girl scout cookies. It truly is a shock that girl scout cookies arent being sold around the world based on how high in demand they are. The quality of these cookies exceed expectations and are big favorites. Selling girl scout cookies worldwide would sky rocket their yearly sales. Marketing this product would be targeted to children and adults. That's the beauty of this product because people of all ages love these cookies.
The huge benefit of global marketing is that it creates so many employment opportunities and helps businesses grow much larger. Although this adds more stress to the company it also helps alleviate the demand at one location. That means that the production demand will be spread out through other plants rather than just one location. With this, it allows businesses to run more efficiently and keep the high reputation and customers happy with their new products.
The kind of adaptations this product would have to undergo would be economical functions. For example, as discussed in the video lecture it talks about hyperinflation. You dont want to expand your product in a country that has hyper inflation because that can be very hard to keep up with. Also it would be hard to make any profit in a country with hyperinflation. Also you would have to weigh out the pros and cons of the product's functionality and need in that country. Global marketing has become so big in today's business world reaching of the population living outside the US wanting global recognizing brands according to the lecture videos.
The pricing would have been changed based on similar products that are being sold in that country. The reason for this would be because inflation is different in every country. So if the product is sold here for $ then in a different country that price could be astronomical. Making your product affordable for the lower class population will benefit in ways. In one way it will benefit the company because you are targeting more people for them to buy the product. And the second way is since you make it affordable for everyone then it builds a good reputation for the company.
When promoting this product in a different country you have to use different strategies. This is because some countries dont have much access to technology for online marketing and promoting may not be the best option since it's so limited What is important is finding out how the marketing culture is and what works best.
Lastly, the distribution strategies that would have to be factored in would be the type of product that is being sold. In this case, the company would have to find a manufacturer to produce their product in that country to make things easier. Unless manufacturing it in the USA and globally shipping it is more cost effective. As far as distributing the product goes you would have to decide if selling this product would be better to do online or get an agreement to sell the product in a store in that country. With these cookies you would have to have a location in that country so that the cookies are made fresh and dont take weeks to ship across the globe.
Due to many trade barriers being dropped, this has allowed tons of companies all over the world to expand their business globally. Being able to expand globally is definitely a huge benefit to many because from a business standpoint, maybe where they sell their product now the sales arent doing too well due to its audience. But being able to expand their market to other countries they may be able to thrive because their target market is there. From a customer's standpoint, this is big because there have been many times where customers try to buy something in their country but cant because they dont have it available. And the only way to get it is to outsource it from a different country.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started