Homework
I. Identify two new products and/or services that the company can sell or offer to a global market.
i. Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.
ii. Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.
iii. Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.
II. Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.
i. Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.
III. Discuss at least one distribution channel for the two new products and/or services.
i. Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).
ii. Analyze how the global supply chain may affect the product or service.
IV. Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services' position within the overall market strategy of the global marketplace.
i. Identify costs associated with developing and launching the new products and/or services.
ii. Evaluate consumer acceptance of the price set for the new products and/or services.
iii. Evaluate competitor prices for similar products and/or services.
V. Discuss the promotional strategy you will use to promote your products and/or services in a global market.
i. Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.
VI. Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)
i. Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.