A small business in your community has hired you to manage selling its product g
ID: 1227839 • Letter: A
Question
A small business in your community has hired you to manage selling its product globally. Discuss the following:
Identify the small business and the type of product that will be introduced internationally.
Choose a country you will first introduce the product.
Would you need to hire a staff for this global expansion?
Explain why and who. Identify and explain your competitors.
Identify and explain your customers.
Explain how the company will manage trade.
What exchange rates do you need to consider?
What cultural differences do you need to consider?
What marketing tactics will you implement to promote the product?
What potential ethical issues do you believe you will encounter?
How do you plan to handle these issues?
Explanation / Answer
I plan to introduce a new juice brand in the market internationally.The juice plans to focus on health conscious consumers , it should have healthy ingredients and target new customer types. The product should be launched in countries that have high soft drink or juice consumption based on data available and trend analysis. More staff will be needed for further expansion, marketing , brand promotion is possible only when the staff is effective in promotion of the newly launch brands. The analysis will include comparative advantage and study of global leaders in the industry where new products is going to be launched. Profit and annual reports can be helpful in calculating strength and weaknesses of the main players in the industry,
Trade will be based on comparative advantage and exchange rate mechanism ,effeciient pricing will stimulate international trade for the product. But there can be cultural and demand difference , thus analysis would include close study on demography , location ,customer type and demand before launch and supply of the product.
Therefore , for global reach advertisement will be helpful in promoting the brand .New strategies like offers , health indications, brand awareness are helpful in reaching the customers.However many countries can possess quality norms , tax and ban on new products . THus product quality is necessary to be take care of , enviornmental sustainability and customer satisfaction should be of utmost important.Secondaly a separate grevieance cell should be available for customer support to ensure effective and efficient customer satisfaction which will help the brand be more successful in future.