Hello. I want to know if i answered the question from my professor accordingly. what did i learn about international business marketing and explain international marketing channels and distribution networks and their purpose in a global marketplace. International marketing channels and distribution networks play a crucial role in connecting producers and consumers across different countries. These channels facilitate the movement of goods and services from the point of production to the point of consumption, ensuring that products reach the target efficiently. Meanwhile the channel of distribution gives clarity on where and how the customer will obtain the product or service. The distribution refers to the set of intermediaries and processes involved in moving a product or service from the manufacturer to the consumer. It also asks important questions such as where and how will the customers obtain the product or service. The purpose for international marketing channels is to effectively distribute products, adapt to local market conditions, enhance market accessibility, mitigate risks, and contribute to customer satisfaction. While distribution networks involve logistics, transportation, warehousing, and retail strategies, with the aim of optimizing the flow of products on a global scale. ~-3-!!!What I have learned while reading about international markets is that when a firm chooses tomarket internationally it must decide on if it should adjust its domestic marketing program. Theadjustment to the domestic marketing program when entering international markets depends on athorough analysis. You must carefully consider the cultural differences that variations can havean impact on consumer behavior. preferences, values, and communication styles differ acrosscountries. Product adaptation which is that the product may need to be adapted to meet thepreferences and needs of the international market, and observing the distribution channels. Thedistribution channels that work well in the domestic market might not be as effectiveinternationally. So it is pivotal to comprehend the local landscape and marketing adjustment iscrucial. Firms can adopt different approaches when it comes to adjusting their marketingprograms for international marketing. The strategies are known as the standardization approachand the customization approach. In the standardization approach businesses use the marketingmix (product, price, promotion and place) across all of its target markets regardless of cultural orregional differences. This assists in marketing internationally with dealing with differentcultures. While also learning that in international marketing U.S firms may choose to engage inthe market for different reasons such as market expansion and the opportunities for profit. Themarket expansion gives firms access to a larger customer base, diversification of revenue andhigher profit margins, and cost efficiency. ∞!!!When working in the international market it is common that the principles used in domesticmarketing are used. But the firm must take into consideration the environmental factors such asthe economic environment(fluctuations in exchange rates can affect pricing strategies andprofitability.), competitive environment(understanding and analyzing local competitors isimperative for positioning products or services effectively.), cultural environment(culturalnuances impact consumer preferences, buying habits, and perceptions of products or brands.),political and legal environment(adherence to local laws and regulations is important to avoidlegal issues and ensure ethical business practices.), technological environment(the level oftechnology adoption varies across countries, influencing product preferences and marketingchannels.), and the ethical environment(what may be considered ethical in one culture may differin another.) So obtaining a strong comprehension of these factors often involves thorough marketresearch, adapting marketing strategies, and establishing strong partnerships in foreign markets.Flexibility and cultural sensitivity are key to successful international marketing.<

Note: The answer has been framed in a generalized manner.The dynamic sector of international…

Hello. I want to know if i answered the question from my professor accordingly. what did i learn about international business marketing and explain international marketing channels and distribution networks and their purpose in a global marketplace. International marketing channels and distribution networks play a crucial role in connecting producers and consumers across different countries. These channels facilitate the movement of goods and services from the point of production to the point of consumption, ensuring that products reach the target efficiently. Meanwhile the channel of distribution gives clarity on where and how the customer will obtain the product or service. The distribution refers to the set of intermediaries and processes involved in moving a product or service from the manufacturer to the consumer. It also asks important questions such as where and how will the customers obtain the product or service. The purpose for international marketing channels is to effectively distribute products, adapt to local market conditions, enhance market accessibility, mitigate risks, and contribute to customer satisfaction. While distribution networks involve logistics, transportation, warehousing, and retail strategies, with the aim of optimizing the flow of products on a global scale.

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE