Explain for this picture for International Business ! BUSINESS STRATEGIES Differ

Question

Explain for this picture for International Business ! BUSINESS STRATEGIES Differentiation Cost Leadership Focus MARKETING Mox PRODUCT PRICING PROMOTION PLACE Get products and services into customers' hands via transportation and merchandising Develop policies that Develop the tanible and intangible features that meet customer needs in diverse markets Devise waysfo bring in revenue and strategically hape the competitive environment enhance the desirability of the product or service to potential buyers KEY DECISION MAKING FACTORS AXP Target customers: industrial or consume Cultural influences Competition Standardization vs. customization Legal forces Economic factors/income levels Changing exchange rates

Explanation / Answer

While going for the international business, an organization must consider the below mentioned factors to be successful:-

Product:- The organization must have or should develop such a product which can satisfy the special requirements of demand of the customers of host country. If there will be any kind of variation in the offering and expected products, the customers will reject the product of the company.

Price:- Different customers and economies have different purchasing power, Depending upon he purchasing power of the host country’s customers, the prices of the products should be decided.

Promotion:- The promotional activities should be such that it suits and attracts the customers of host country. Some of the companies can go for the standardized promotional activities if they are offering same products around the globe.

Place:- On the basis of transportation infrastructure present in the host country, the methods of distribution should be selected.

Apart from these vital aspects related to the products, there are number of other factors which must be considered while going for international business which are as below:-

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