Question

1) Explain three ways that a firm that is considering entering an overseas market can use market orientation to its advantage.

2)   Explain two reasons why culture may play a role in a company repositioning its brand when entering a foreign market

3) Explain how and why the two different thinking styles (analytic vs. holistic) can be applied differently to explain country-of-origin effects.

4) Explain three challenges that managers are likely to encounter when implementing value-based pricing and potential ways to address the respective challenges.

5) Explain (a) how and why Distribution Traps occur and (b) for which type of product such traps are most likely to be observed.

Answer 1

1)

Market orientation refers to the customer centered approach. Here products are developed according to the taste and preferences of customers. Following are three ways to use market orientation:

• Product designs must be according to the expectation of customers.
• Product should be developed according to the preferences and taste of customers.
• Further, market orientation can be used to provide customer services. Customers services help to win the loyalty of customers.

To sum, in the era of globalisation and free market system, customer centered approach is only way to survive in international market.