Asked by Amanda Swaney on May 12, 2024
Verified
What are the two components of a global marketing strategy?
A) understanding foreign currency fluctuations and developing products that can be priced accordingly
B) determining which target markets to pursue and developing a marketing mix to obtain a competitive advantage
C) understanding the supply chain and distribution networks in foreign markets
D) developing culturally appropriate advertising messages and cultivating "domestic" habits among foreign consumers
E) adapting to foreign regulations and targeting as many people as possible
Marketing Mix
The combination of factors that can be controlled by a company to influence consumers to purchase its products, including product, price, place, and promotion.
Target Markets
Specific groups of consumers a business aims to reach with its products or services, identified by characteristics like age, income level, or location.
- Assess the importance of global market segmentation, targeting, and positioning within international marketing strategies.
Verified Answer
NR
ninie rashidMay 16, 2024
Final Answer :
B
Explanation :
A global marketing strategy consists of two main components: deciding which target markets to pursue and developing a marketing mix to obtain a competitive advantage in those markets. The other options may be important considerations in the implementation of the strategy, but they are not the primary components.
Learning Objectives
- Assess the importance of global market segmentation, targeting, and positioning within international marketing strategies.
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