As a highly admired international entrepreneur, you have been invited to give a speech on the need to adapt products and services when entering into global markets. Explain to your audience three reasons why localization or adaptation may need to be done by firms to ensure the success of the product or service in the foreign markets. Provide relevant examples in your explanation
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As a highly admired international entrepreneur, you have been invited to give a speech on the need to adapt products and services when entering into global markets. Explain to your audience three reasons why localization or adaptation may need to be done by firms to ensure the success of the product or service in the foreign markets. Provide relevant examples in your explanation
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- Identify and explain any three risk factor barriers that commonly hinder a firm’s internationalization efforts. How would your firm, or a firm of your choice manage these risks?Your company has decided to introduce some of its products to the international market and you have been asked to prepare a report highlighting the advantages and limitations of international marketing. What information would you include in your report?Your lecturer has assigned you to present in class on the impact of culture towards global marketing. Prepare a short presentation script regarding how culture of a certain country has effects on the communication or promotion of the products/services, distribution of the products/services, and the products/services themselves Your lecturer has assigned you to present in class on the impact of culture towards global marketing. Prepare a short presentation script regarding how culture of a certain country has effects on the communication or promotion of the products/services, distribution of the products/services, and the products/services themselves
- Take a company of your own choice and pass it through the internationalization process. Describe the characteristics of the company, its market, sector, and the mode of internationalization it choose. Give reasons for your answer. The company you choose should be new and assumed/hypothetical. It should not be an existing company. (Note: If you choose a company from internet I will check it on internet you will get zeroPresent the advantages and disadvantages of the forms or modes of entry into the international or global market.The forms of market entry that you should consider are: export, import, subsidiaries, merger, acquisition, alliances (joint ventures), licensing and franchises.When considering entering international markets, there are some significant strategic and tactical decisions to be made. Each entry mode has different pros and cons, addressing issues like cost, control, speed to market, legal barriers, and cultural barriers with different degrees of efficiency. In this perspective, discuss any two methods of doing business internationally. You are also required to briefly discuss advantages and disadvantages. Use real life examples to support your answer.
- You are operating in Jamaica and want to market your Hand Sanitizers to Brazil. Conduct an assessment of the mode of entry you will utilize based on the 5 modes discussed in the course (exporting, licensing arrangements, partnering and strategic alliances, acquisitions, establishing new, wholly owned subsidiaries). Discuss two (2) potential advantages and two (2) disadvantages of the mode of entry selected. Conduct research on two (2) companies that failed when using the mode of entry you have selected for your product. Company names must be stated and what led to the failure must be clearly identified.You are a businessperson who speaks only English. Your company does business primarily in Colombia, Venezuela, Brazil, and Argentina. Which of the following is likely to be both feasible and beneficial to your ability to conduct international business? A) learning Polish, French, and Korean B) learning Arabic C) improving your command of English D) learning Spanish or Portuguese E) learn bits and pieces of French, Polish, Korean, Portuguese, and ChineseThroughout this course, we've learned how laws, customs, events, and circumstances shape international marketing. During the past year, our lives have changed dramatically due to the outbreak of the COVID-19 pandemic. The pandemic has changed our lives in many ways. What changes or impacts do you predict the pandemic (and/or the country's handling) will have on the future of international business and marketing?
- Culture has a great impact on international marketing. A marketer must have tostudy about the local culture in-depth before offering a product to them.Source: Abdin (2008) In the light of the above extract, critically discuss the relevance of the differentelements of culture for the international marketer.INTERNATIONAL BUSINESS INVOLVES BUYING , SELLING OF GOOD AND SERVICE ACROSS NATIONAL BOUNDARIES TRUE OR FALSE ?Explain advantages and disadvantages of different entry modes that Marketers must need to consider when enter the foreign market.