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Four factors influence the product design decisions of international marketers: preferences, cost, laws & regulations, and compatibility. International product mix is a set of all product lines & items meant for sale in overseas markets. The issues that need to be addressed while taking decisions on the international product mix are, the number of product lines, the degree of consistency in these product lines, and their length and depth. The major characteristics of services are intangibility, inseparability, heterogeneity, and perishability.
Many factors, such as innovation, excellence in customer service, and efficient operations contribute to the success of an organization at the global level. Before entering a foreign country, a service organization needs to check if it has sufficient resources to venture into the market, whether the mode of entry is appropriate, the demand in the market is adequate, the management style is appropriate, and it has the right people to deal with suppliers and the local authorities.
Takeovers, Joint ventures, and Contractual agreements are some of the ways in which international R&D capabilities can be acquired. International diffusion process involves shifting of products to overseas markets. Several factors influence the speed with which diffusion takes place. These are: nature of the product, characteristics of the overseas markets, strategy of the firm, competition, degree of product adaptation necessary, and propensity of consumers to change from the current pattern of consumption to a new pattern of consumption.
A product suitable for one market may not be suitable for other markets. Factors that encourage or restrain product adaptation in different countries are: different use conditions, other market factors, and influence of government. International Product Life Cycle describes international trade and production patterns. According to this concept, products have to go through a trade cycle where a country is initially an exporter, then loses its export markets, and then becomes an importer of the product.
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What is a product decision?
A product decision refers to the choices made regarding the development, design, features, and marketing of a product. This encompasses determining what to produce, how to position it in the market, and identifying the target audience. Effective product decisions are crucial for meeting customer needs, achieving competitive advantage, and driving business success. Ultimately, these decisions shape the overall product strategy and influence its lifecycle.
In this type of economy the question of how many goods will be produced and supplies is not made by business?
In a socialist economy, the question of how many goods will be produced and supplied is not made by business. This decision is made by the government in this type of economy.
What recent developments have underscored the importance of leadership?
such issues as the increased capabilities afforded by enhanced communication technology and the rise of international business have made leadership even more important in today's business environment.
Explain the difference between profit and profitability and why this difference is important in business?
Profit is what you made after the costs of material for a product or labor for a service. Could be you sold a product or service. Profitability is what you could make. Is that there is a need that needs to be filled or replaced and you can make money doing it.The difference is very important when your planning out location of business, target market, labor any expenses that go into the product or service Or even what your company wants to provide.A business that is not making profit will eventually run out of money and go out of business.
What economics decision?
a decision that depends on the economy that is currently in place. the decision must depend on the economy of the time that the decision is made.
What is a product decision?
A product decision refers to the choices made regarding the development, design, features, and marketing of a product. This encompasses determining what to produce, how to position it in the market, and identifying the target audience. Effective product decisions are crucial for meeting customer needs, achieving competitive advantage, and driving business success. Ultimately, these decisions shape the overall product strategy and influence its lifecycle.
How are decisions and the decision processes for business markets similar to those of consumer markets?
The question needs to be narrowed a bit. A distinction must be made to differentiate between the meaning of business decisions and decision processes. All business decisions are made through a formal or informal decision making process. Since the primary objective of a business is to maximize profitability, the decision process as it relates to that objective would be to assess the decision options and associated risks.The decisions and decision processes of consumers, on the other hand, can also be defined in economic term. I am assuming that the question relates to consumer purchase decisions based on product utility received by the consumer and price paid by the consumer. The consumer would normally go through a purchase evaluation process to determine if the product price justifies the utility that the consumer will enjoy.In this context, there is some similarity between business and consumer market decision making processes in terms of the economic benefit to be gained by the decision makers: profit maximization for a business and product utility maximization for a consumer. Both types of decisions involve risks and opportunity costs for both business and consumers.
The business decision's of a corporation are made by whom?
A board of directors
What products do Digi International make?
Digi International makes several products. Their main product made is a made-to-order monitoring system.
Is Merlite Designer Jewelry still in business?
This company is no longer in business. Unfortunately, they made a business decision and decided to shut down their company.
Would you rather own Chippewa boots or leather boots?
Chippewa boots sometimes use leather in their product. They were first made for the logging business. The decision on Chippewa or leather would be based on your own needs.
What has the internet done for international marketing?
The internet has made international business faster and easier to do. Marketing internationally is also faster and easier now. For example if i had a product i wanted to sell in Japan... I could get on Google Adwords and start running ads on Japanese websites with in 4 hours.
State the importance of gaining customer feedback?
INTERNATIONAL BUSINESS 2Q 1 (A) What are the basic elements of social responsibility?Q 1 (B) How can you remove cross-cultural illiteracy?Q 2 (A) What are the limitations of social responsibility?Q 2 (B) How is environmental scanning useful to international business?Q 3 (A) What factors must a firm consider while addressing the make or buy decision?Q 3(B) Why are brand names an important marketing tool for international business?Q 4 (A) Why do home countries oppose export of technology?Q 4 (B) How are product decisions made in international business?Q 5 (A) How do international business seek to minimize foreign exchange risks?Q 5(B) What is FDI? Why is it preferable to other routes of international business?Q 6 (A) Is TKM's ambition of capturing 33 per cent of the Indian car market Reliable? If yes,How? If no, Why?Q 6 (B) Notes on : (a) International division structure.(B) Worldwide functional structure.(c ) What is social responsibility? Advocate why social responsibility is important?
What is the definition of multinational business?
multinational business is knowing or work on international level. there are two or more then two products made.
How do you think good decision making has contributed to the success of this business?
good decision making is what we need because a company is not made by a single person . Its the idea of different people who help in improving a solution and making a good decision for a successful business strategy
What is a sentence with the word bold?
She made a bold decision to quit her job and start her own business.
In this type of economy the question of how many goods will be produced and supplied is not made by business?
In a socialist economy, the question of how many goods will be produced and supplied is not made by business. This decision is made by the government in this type of economy.
