Address the following questions and support your answers using theories discussed in Chapter 4 and Chapter 5 of your text. Explain the country’s society and their culture. What are the differences and similarities of their culture to the culture of the United States?
- Determine what social, cultural, political or legal/regulatory characteristics you would need to take advantage of to avoid unneeded and costly adaptations of the marketing mix. Using examples, what theories in Chapter 4 support your conclusions?
- Create a short SWOT analysis and list three key points in each area of your SWOT that you believe are most important to understand and recognize for successfully sustaining your brand and business in that country. Focus primarily on global environment criteria related to your company (i.e., economic, trade, social and cultural, political, legal, and regulatory environments).
Part 2: Defining the Market Research Process
Although we may be very familiar with Procter & Gamble’s (P&G) many brands, there are still some opportunities for P&G to expand throughout the world where their brands are not yet well known.
- Select one P&G brand that would potentially face a latent market in a certain country, region, or local area around the globe.
- Discuss your rationale for choosing the brand and how it falls under this category.
- Choose three analytical techniques employed by global marketers.
- Summarize each of the techniques and why you think these are the most beneficial to the global market.