Marketing strategy

plan to combine the right combination of the four elements of the marketing mix (4 Ps) for a product or service to achieve a particular marketing objective.

• Marketing mix

• Marketing plan

• Business objective

• Marketing strategy

-weights are measures are to be correct

-trade descriptions are accurate

-satisfactory quality of goods

-service has to be provided with reasonable skill and care

are what?

• language and cultural differences

• Economical differences

• Legal controls

• Social differences

which one is not the why businesses enter new markets abroad?

• Low trade barriers

• Home markets are saturated

• Other countries developing

• International franchising

Demand for the product is no longer growing in the country.

• Low trade barriers

• Home markets are saturated

• Other countries developing

• Lack of knowledge

which is not way for businesses to overcome these problems

• International franchising

• Licensing

• Exchange rate changes

• Joint ventures

Taxes, quotas, or bans that one country places on the goods of other countries to prevent or increase the cost of them entering that country.

• Cultural differences

• Economic differences

• Language differences

• Barriers to trade

which is not the problem of entering foreign markets

• Differences in legal controls to protect consumers

• Social differences

• Economic growth

• Lack of market knowledge

Entering new markets for the first time presents two problems for most businesses:

■ The business does not know the market.

■ The market – consumers – does not know the business.

Which one of the following is correct for the points mentioned above?

• Economic differences

• Lack of knowledge

• The difference in language and culture

• Social differences

An agreement between two or more businesses to work together on a project.

• Joint venture

• License

• Franchising

• LTD

Which is not the main reason for a joint venture?

• It reduces risk and cuts costs.

• Any mistakes made will reflect on all parties to the joint venture.

• Each business brings different expertise to the joint venture.

• The market potential for all the businesses in the joint venture is increased, especially if each business operates in different geographical regions/countries.