MKT 571 Keuka College Reasons for Product Standardization in Global Markets Discussion

ASSIGNMENT CHAPTER 10 & 11

1. (10 points) Read carefully Textbook Chapter 10 and the Power Points; then Answer the following Questions:

o Discuss, in-depth, Reasons for Product Standardization in Global Markets. What are some Benefits and Challenges in Product Standardization? (see textbook p 397 – 404)

o Discuss, in-depth, Reasons for Product Adaptation in Global Markets. What are some Benefits and Challenges in Product Adaptation?

2. (10 points) The Textbook (-. 390 – 391) explains how Starbucks’ Introduced Coffee to Chinese Markets using Product Adaptation Strategies. Select a Product (possibly/assume New to the Chinese markets; give Name and Picture of the Product). Discuss, in-depth, How you would Introduce that Product (you have Selected/Identified) to Chinese Markets.

3.(10 points) Read carefully Textbook Chapter 11 and the Power Points; then Answer the following Questions:

Discuss, in-depth, Important Pricing Factors that Should be Considered in the Pricing of a Product or Service. (see Chapter 11 Global Pricing Strategy – Lecture Supplement – Introduction, p. 1).

4. (5 points) Counter Trade (barter system) involves Trading or Exchanging Goods or Services without Currency. Discuss, in-depth, Reasons and Importance of Counter Trade Price Transactions to Developing Economies (see textbook p. 467).

5. (10 points) Assume that you have Developed a Product, that is a Global Innovation (E.g. a Music Album, a Personal Care product, a Food Product, or a product you have in mind), that you want to Export to a Foreign Wholesaler in Mexico or China – for Distribution and Sale to Retailers and Final Consumers. Discuss, in-depth, Factors Influencing Pricing Decisions (Competitive factors, Consumer Culture factors, Product factors, Distribution Channel factors and Country factors – See textbook p. 442 – 451) that you will Consider in Setting Price for your Product to a Foreign Wholesaler, and down-stream to Consumers.

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