What do marketers mean when they refer to technological and socio-cultural environments? Why do they need to understand these environments in a global marketplace? Supplemental Discussion Questions Week 2 1. Describe the four levels of involvement that are options for a firm: exporting, contractual agreements, strategic alliances, and direct investment. 2. Describe the utilitarianism, rights, fairness or justice, common good, and virtue approaches to ethical decision making. What is ethical relativism Discussion team The purpose of this miniproject is to gain experience in understanding what it takes to move a product that is successful in its home market into a global market in which it will continue to be successful. Assume that you oversee a number of up-and-coming hair salons and have decided to take your services global. 1. Describe your local competitive advantage and why you believe this competitive advantage will serve you globally. 2. Determine which global market(s) is most attractive for your service. Will you target a single country or an economic community? Describe your reasoning 1. Discuss the pros and cons standardization and localization of the services. 2. Decide which market-entry strategy you will pursue. Again, explain your reasoning. 3. Describe your marketing mix strategy How might you need to adapt your services? What product decisions do you need to make? How will you promote your services? How will you price your services? What place/distribution decisions must you consider? As in the previous assignment, summarize your strategies for this project in a one page document and send it to me via email.
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