Discuss below in a 250 words each:
Q1: The company where you are the marketing manager has concentrated the majority of its efforts in the United States, Canada, and Mexico. You are providing information to the executive committee on various strategies that will help them break into the markets of Europe and Asia. In fact, the committee has expressed their strong interest in becoming a global presence and a highly influential multinational corporation.
You are working with your marketing team to help present viable options that will propel the organization into a strong multinational presence. Be sure that you address the various important factors that exist when developing a global marketing strategy. What are some of the key issues that will have to be taken into consideration when expanding into foreign markets? What are some of the challenges? How might this newly expanded multinational corporation overcome those challenges? Fully support your discussion.
Q2: After spending a substantial amount of revenue doing market research in foreign markets you found that there are numerous ethical and legal that should be taken into consideration. You have found that practices in the United States and Canada which are considered perfectly acceptable, may be considered offensive, objectionable, unethical or even unlawful in some territories of Europe and in several parts of Asia.
The executive committee that has hired you to be the marketing manager of the expanding company is becoming impatient, as they want to quickly move into Europe and Asia in order to capture a large portion of the market. Time is of the essence; because your company's closest competitors are making great strides in reaching potential customers.
Explain to the executive committee what ethical issues that your company may face when expanding into these foreign markets. What are some of the key factors that should be taken into consideration when marketing products or services in a cross-cultural environment?