Question

What are the challenges the organization will face when electronically marketing and selling this product outside of the United States? What are some of the issues the team needs to be aware of before launching this product for sale electronically? Provide a summary of the issues ASC must analyze prior to entering the global market through electronic means. This summary should be a minimum of 500 words.

Answer 1

1- The biggest challenge for most businesses when going online is developing a proper plan.Most businesses find it  tough to develop a plan while going online because they don't know where they should focus on .They are confused between search Engine Marketing, Social Media Marketing, and Search Engine Optimisation.

2-Here are eight  challenges you are likely to face if you engage in online marketing.-

1- Having a mobile responsible website.

2- Making your website dynamic.

3- Offering a booking solution.

4- Finding the time to be active on social media .

5- Increasing your numbers on social media.

6- Engaging in email marketing.

7-Growing your list.

8- Running an Adwords campaign.

3- Six product launch challenges that require angile product development solutions -

1- Cutting your time - to- market.

2- Ideation drives innovation.

3- leading customers to your new product.

4- Proving your product's viability.

5- Establishing an initial price.

6- Implementing actionable post - launch refinement.

4- You can evaluate the viability of your product in many ways -

-Example- Paid surveys,market research mobile apps  , consignment testing , and freelance market researchers are all cost - effective ways to test - market your product. It pays to get real - world  feedback before launching a new product.

5- factors you must consider while your company is entering to a new market -

1- Economic Factors- Not all countries will be attractive for all companies.

2- Social and Cultural Factors.

3- Political and Legal Factors.

4- Market Attractiveness.

5- Capability of the Company.

6-The core principle of Topic 606 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

7-ASC- An Ambulatory Surgery Centre (ASC) An ASC can also be known as an outpatient surgery centre or same day surgery centre.

8-ASC 606 focuses on the transfer of control rather than the satisfaction of obligations prescribed by ASC 605.

9-It's a principle- based framework that introduces more judgment into the revenue recognition process. Its core principles are focused on the nature of the promises in a contract.

10-Before revenue is recognized, the following criteria must he met: persuasive evidence of an arrangement must exist; delivery must have occurred or services been rendered; the seller's proce to the buyer must be fixed or determinable; and collectability should be reasonably assured.

-Example- The revenue recognition principle states that one should only record revenue when it has been earned , not when the related cash is collected.

-Example- A snow plowing service completes the plowing of a company's parking lot for its standard fee of $ 100.