International Marketing Lesson 1

Banyan Tree Hotel originates from Singapore. They wish to implement a diversification strategy. Which of the following is NOT a diversification strategy?

• A coffee shop at KL city centre

• A luxury hotel in Korea

• A designer store at Taylor's University

• Invest in Consumer Fast Moving Goods (Canned Food)

The value chain is composed of marketing, product design, (a)   , and transportation logistics.

Answer explanation

Value Chain covers the whole process that includes manufacturing of the product - namely product creation.

Globalization brought multiple advantages to nations and citizens. It helps to lift poverty, raise wages and increased the standard of livings.

• True

• False

Which is the correct illustration of global localization, adaptation?

• Think globally, act locally

• Think locally, act globally

Answer explanation

Think globally, act locally urges businesses to adapt their products to suit individual localised audiences.

E.g., Coca-cola brand is global, but it must also be locally relevant to each individual market it serves by adapting to its marketing strategies such as promotional languages, and tactics.

NEW group market group with great potential is

• BRICS

• BRICKS

• GMS

• MINT

Answer explanation

MINT are a new group with great potential:

MEXICO

INDONESIA

NIGERIA

TURKEY

(a)   management orientation presume each country as unique and businesses shall develop differentiated marketing strategies for each country.

Answer explanation

Polycentric often referred as multinational strategy that leads to localization

Which of the following product is an example from the production of ethnocentric management orientation:

• 
• 
• 
• 

Answer explanation

Ethnocentric orientation assumed their home country is superior to others and that other countries would use the same products.

Thus, their product would be standardized or use an extension approach.

Assuming you are the marketing consultant of Taylor's Merchandise Store. Which country will you advice TMS to expand their businesses to?

Circle the country.

Answer explanation

This question is an in-depth discussion question where a higher cognitive level of analysis is required.

At a glance, South Korea would be a better choice. Due to political and legal factors. They welcome foreign investors as compared to North Korea (one of the dictatorial countries, a centralized economy - and that means the state government controls all means of production)

Which part do you need more clarification?

• Product/market growth matrix

• Management Orientation

• Single country marketing strategy vs Global marketing strategy

• I am all good

Do you have any questions?