Question

1.What are the strategic alternatives or approaches to setting international prices and explain each of them?
2. What are the successful channel management practices and explain each of them ?
3.What are the factors in determining globalizing some brands and localizing some others?
4.How do you choose between standardized advertising and adapted advertising? Why?

Answer 1

1). The strategic approaches to setting the international price are :

• penetrating : It includes maintaining less price and removing the margin from other competing companies.
• skimming : here the company first increases the price inorser to strengthen the value of the product. Then the company took away the profit.
• following : here the company sets the price of its product by looking up the price followed by its competitors.

2). The successfull channel management practices are :

• appointing and kepping the exact and well channel partners. The relationship between a manufacturer and its channel partners are highly important. The relationship should be kept very strong.
• The channel partners should be educated very efficiently.
• A great help or support should be provided to the channel partners in the fields of marketing, strategies development etc.
• A system should be installed inorder to lead the management and for maintaining the visibility of pipelines.

3). The factors in determining globalizing some brands are

• Customs
• The ordinary people's everyday life characteristics
• The already existing business strategies that make the product versatile from the others.
• Attitude of cinsumers towards the foreign market
• Attitude of government towards the foreign market
• Political and economic practices that exists in the nation.

The factors in determining localizing some brands are :

• Raw materials: the availability of raw materials should be very large
• Labor : the availability of labors should be sufficient.
• Good transport facilities should be considered.
• Water facilities and climate conditions also determines.

4).  standardized advertising : in this type, the usual advertising messages are used. There will be only slight modifications or may be change in the language, colour grading etc.

adapted advertising : in this type, a global brand's advertisement is being adapted for various nations.

The adapted advertising is mostly chosen because every nations have their own cultural practices and their own languages.

Thanks!..