Question

When generating a globalized marketing plan, a Japanese company called Trusco decided to implement a localization strategy when introducing its work and tool products into the Swiss and Canadian markets. In order to reach the new markets, Trusco needed to translate its product packaging, consider the political and economic environments, identify its competitors, and consider other areas of the marketing mix that require additional localization efforts. Which of the following statements matches best with Trusco's experience in generating its marketing plan?
a. Generating worldwide marketing plans requires most companies to communicate one identical message to all global markets.
b. Creating a global marketing plan is a task that can be accomplished with very little effort.
c. Creating a global marketing plan is a complex task.

Answer 1

Answer:

c. Creating a global marketing plan is a complex task.

Explanation:

It is correct to say that creating a global marketing plan is a complex task.

There are several barriers that can spell failure if the international company's strategy is poorly planned.

Therefore, the ideal is to research in depth about the new market to which the organization intends to enter.

In addition to legally adapting to local legislation, the company must analyze and plan to generate local interest in its products and services.

This requires market research that seeks to identify your target audience, what are their particularities, preferences, characteristics and needs.

The set of variables in the marketing mix: price, product, place and promotion, should also be adapted to the location where the company is located, the key to success is adaptation and the strategy aligned with the location.