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Assignment 1

This document contains a student's answers to four questions about export marketing for an assignment worth 20 marks. The student defines internationalization as designing products to meet the needs of users in many countries or designing them so they can be easily modified. The student explains that a market driven company has a customer focus and understands competitors and market trends, citing Apple as an example and noting how Nokia failed by not being market driven. Additionally, the student states that for a company to be successful internationally, management must understand all aspects of the environments in which it will operate, as countries have different requirements. External factors like laws, taxes, and cultural differences make export marketing more complex than domestic marketing.

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Umar Gondal
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51 views

Assignment 1

This document contains a student's answers to four questions about export marketing for an assignment worth 20 marks. The student defines internationalization as designing products to meet the needs of users in many countries or designing them so they can be easily modified. The student explains that a market driven company has a customer focus and understands competitors and market trends, citing Apple as an example and noting how Nokia failed by not being market driven. Additionally, the student states that for a company to be successful internationally, management must understand all aspects of the environments in which it will operate, as countries have different requirements. External factors like laws, taxes, and cultural differences make export marketing more complex than domestic marketing.

Uploaded by

Umar Gondal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Assignment 1

Export Marketing
Sec G
20 Marks

Umar Farooq 17U00609


Q1. What is meant by internationalization and how does this relate to the global
marketer?. (5)
Ans. Internationalization describes the process of designing products to meet the needs of users
in many countries or designing them so they can be easily modified, to achieve this goal.
Internationalization might mean designing a website so that when it's translated from English to
Spanish, the aesthetic layout still works properly. It is related to global marketer, as the objective
of global marketing is to standardize products and marketing practices worldwide to achieve
economies of scale as it will decrease their expenses. The global marketer views major regions
of the world as a simple or uniform market, in which to market a standardized product in a
standardized way in order to achieve low relative costs. The traditional multinational company
often adapts/individualizes products and practices to specific nations/regions to increase
acceptability but at an increased cost.

Q2. What does it mean for a company to be ‘market driven?’ Is this really important in
today's environment or can a company be successful without being so driven? Explain. (5)
Ans. A market driven organization has a customer focus, together with awareness of
competitors, and an understanding of the market. They keep updated about the market trends and
the changing buying pattern of the costumers. They also keep innovating their products and see
go according to the demand in the market, and how the competitors are performing in the market.
An example of this is Apple, they are constantly innovating their products and going according
to the customer’s needs. However, if we consider Nokia, they weren’t market driven and so they
almost whole market share.

Q3. Explain the meaning of the following statement: ‘If a company is to be successful in
foreign markets its management must have a good understanding of all aspects of the
environment within which it will be operating’. (5)
Ans. This statements tells that when a company has an international presence, they cannot
operate in the same everywhere. Even the products cannot be same. For different markets, and
countries there are different requirements, and if the managers aren’t aware of them they cannot
perform well in that market. Therefore they need to be updated about their environment, and how
everything is happening around. As we know that the system consists of different marketing
activities, some are controllable (endogenous) by the firm and some are uncontrollable
(exogenous). Endogenous activities are used to adapt to the exogenous environment. Thus, if a
company wants to be successful it must know all it can about that economic, socio-cultural,
competitive, and political dimensions of the environment within which it operates.

Q4. Give two or more examples of how external factors (exogenous variables) in the
international environment make export marketing more complex than domestic marketing.
(5)
Ans. External factors in the international environment makes export marketing more complex
than domestic market. Some examples of it are as following;

 Laws and regulations differ from country to country and cover a multitude of factors
including packaging and labeling requirements, health and safety requirements
 Taxes, tariffs, quotas, and other restrictions may limit what you can sell, how much you
can sell and the costs involved
 Cultural or social differences may prevent the sale of certain products, or require
modifications to the products or distribution systems

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