Question

A consumer products company has already reviewed its objectives and capabilities, established the screening criteria for reviewing potential foreign markets, and examined a series of environmental factors for the markets in which it plans to operate. What should the company do next as it proceeds with the international planning process

Answer 1

The international planning process is a measure used by companies that wish to expand their businesses to other countries. After the first stage of analyzing and screening the new market, the consumer products company should move to the next phase which is;

• Evaluating the marketing mix to target markets.

There are 4 phases in the international planning process which include; analysis and screening, adoption of the correct market mix, development of a marketing plan, and implementation/control.

For the consumer products company above that has established the screening criteria, they must ensure that they adopt the right market mix that will suit the organization.

This means that the product, place, price, and promotion should be right.

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