Question
A business thinking of expanding into global markets needs to examine all of the following external environments EXCEPT:
(A) culture.
(B) political structure and actions.
© its marketing mix.
(D) natural resources.
(A) culture.
(B) political structure and actions.
© its marketing mix.
(D) natural resources.
Ask by Chen Ortega. in the United States
Jan 30,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The business should examine culture, political structure, and natural resources but does not need to consider its marketing mix when expanding into global markets.
Solution
When a business considers expanding into global markets, it must analyze various external environments to ensure successful entry and operation. These environments include:
- Culture (A): Understanding cultural differences is crucial for marketing, management, and overall business strategy.
- Political Structure and Actions (B): Evaluating the political stability, regulations, and government policies of the target country is essential.
- Natural Resources (D): Assessing the availability and sustainability of natural resources can impact production and operational strategies.
Marketing Mix ©, on the other hand, refers to the internal strategy elements a company uses to market its products or services (Product, Price, Place, Promotion). While the marketing mix must be adapted to fit the external environment, it itself is not part of the external environment but rather an internal tool used by the business.
Answer:
© its marketing mix.
© its marketing mix.
Answered by UpStudy AI and reviewed by a Professional Tutor
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The Deep Dive
When considering global expansion, businesses must dive deep into cultural nuances as they can significantly affect marketing strategies and consumer behavior. Understanding local customs, traditions, and communication styles can make or break a brand’s acceptance in a new market.
Additionally, political structures and actions in the target market are crucial. Different countries have varying regulations, trade agreements, and stability levels that can impact operations. Being aware of these factors helps in mitigating risks and tapping into opportunities effectively.