Need help with my Business question – I’m studying for my class.

Part1: Please answer the question in a min of 250 words.

Companies utilize market segmentation to meet the needs of various consumer preferences. It is difficult, if not impossible, for one company to meet the needs or wants of every customer. Describe three (3) ways that the global marketing approach to segmentation differs from the domestic marketing approach to segmentation (possible classifications: geography, culture, language, political, wealth, population, age, macro, micro, etc.). Next, determine the main advantages or disadvantages that a regional marketing strategy has compared to a global marketing strategy.

Part 2: Please comment and give your opinion on the student post below. Please answer the the question in a min of 100 words.

When it comes to marketing the most important part is segmentation. Segmentation takes a very precise and in-depth analysis of the targeted consumer. The differences between global And domestic strategies are very close. For example, when developing a global product, language and culture should be the first things that are taken into consideration. Language is very important because the product must translate into the culture that it is being sold in. The product must also appeal to the culture. All products do not translate well to other countries. This is the reason why you do not see many Burger King’s in India because the franchise doesn’t translate well, due to religious regions. However, you will see a McDonald’s in India that caters to the local taste and culture of the country. The same way that you will see McDonald’s franchises all throughout America. However, there are franchises that cater to local tastes. For example, the McDonald’s in the Philadelphia area serves Philly cheesesteaks on its menu. This sandwich is a local delicacy of the area and the company aims to capitalize off the local taste and delicacies.

Part 3: Assignment 1

For this assignment, you will utilize the different resources listed below (plus your own research strategies) to select a qualified country for your company’s international expansion. To begin, go to the World Bank Group’s Website and review the “Economy Rankings” report located at http://www.doingbusiness.org/rankings. Choose two (2) countries from the list (one [1] from the top of the rankings and one [1] from the bottom) to complete a comparison of risks. The goal of the risk comparison is to examine the risk factors associated with expanding into the selected countries. You may discuss any of the eleven (11) categories on the report when examining the risk to technology, payment security, physical good / product security, etc. in your risk comparison.

For additional information on the selected countries, you can visit the Central Intelligence Agency’s (CIA) “World Factbook” found at https://www.cia.gov/library/publications/the-world-factbook. You may also use the Internet or Strayer databases to conduct any additional research.

Use the basic outline below to draft your paper. Organize your responses to each question (except Questions 1 and 6) under the following section headings:

  • Higher-Ranking Country is Considered the Safer Strategy for Expansion. (for Question 2)
  • Lower-Ranking Country is Considered the Risky Strategy for Expansion. (for Questions 3)
  • Identify which Country You Selected and Why. (for Questions 4 and 5)

Write a five to seven (5-7) page paper in which you do the following:

  1. Provide a brief (one [1] paragraph) description of the organization you have selected for this project. Present the main drivers supporting the decision to expand internationally. Select your expansion strategy (Export, International, Multinational, or Global) and explain this decision.
  2. Provide a brief description of the higher-ranking country you have selected for this project. Next, analyze the various rankings (provided by the World Bank or CIA World Factbook sites) and discuss the strengths, weaknesses, and key benefits of this selection. You will then examine this country’s major existing trade agreements and predict whether they will assist or deter your venture.
  3. Provide a brief description about the lower-ranking country you have selected for this project. Next, analyze the various rankings (using the same websites as stated above) and discuss the strengths, weaknesses, and key benefits of this selection. You will then examine this country’s major existing trade agreements and predict whether they will assist or deter your venture.
  4. Based on your research of comparative advantage, present the primary risks (economic, political, cultural, language, etc.) associated with expanding into the lower-ranking country versus the higher-ranking country. Next, provide the competitive advantages (economic, political, cultural, language, etc.) associated with expanding into the lower-ranking country versus the higher-ranking country.
  5. Based on this comparative advantage study, suggest which country is the better choice and provide a rationale for your selection. Next, state which key factors you can identify to support your decision.
  6. Use at least three (3) quality references. Note: Wikipedia and other websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, doublespaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *