Questions on International Marketing Essay Example | Topics and Well Written Essays - 2750 words

Questions on International Marketing - Essay Example Again, remember to support your answer. (25 marks) 3. Analyse the extent that you believe Country of origin effect (COO) influences consumer perception of your chosen global brand. Justify your answer. (20 marks) A maximum of 5 marks are awarded for presentation - (5 marks) Overview of Standardization and Adaptation in Marketing Mix Marketing mix, as defined by Jain (2009), refers to the combination of the product, the distribution system, the price structure and the promotional activities. The author (Jain, 2004), has further been of the opinion that it is a term that is used to denote a specific combination of marketing variables that are controllable by an enterprise and that are used to appeal a particular market segment. Both Marketing standardization and marketing adaptation of the marketing mix encompass opposite characteristics. Marketing standardization has been defined as â€Å"the offering of identical product lines at identical prices, through identical distribution syst ems, supported by identical promotional programs, in several countries (Buzzell, 1968). On the other hand, marketing adaptation or localization has been identified as having marketing mix satisfying specific needs of the local market (Alimiene and Kuvykaite, 2008:36). Internationalization has necessitated either to strategically implement standardized marketing mix or adaptation marketing mix. The concept of foreign markets and the subsequent removal of trade and custom barriers along with the aid of technological advancements, various companies were required to decide whether they would use standardized or uniform marketing mix strategic in all current and potential countries or they would adapt to and pursue and implement different marketing mix strategy. With the presence of these two options, Toyota was also required to determine a particular marketing mix strategy or a combination of both strategies. Toyota Background Toyota is one of the foremost automobile firms in the world. It has been operational for more than 75 years and has expanded base all over the world. One of the first car makers to come up with world class cars from the Japanese stable, the organization has indeed created a name for itself all over the world. With increasing sales slowly spreading to all over the world, production facilities also disseminated to other parts of the world. Gradually, the company has grown to become one of the largest multinational companies the world over. With production as well as assembling plants in US, UK, China and France, and present in over 170 nations, the Japanese company has come a long way in making a name and sizeable market share for itself. Over the years the company has launched one great car after another and above all the company is guided by sustainable development for its present as well as future course of actions (Toyota website, 2012). So far as their global presence is concerned, in order to make their ventures profitable, they operate from 27 countries and have 50 manufacturing companies working together to make Toyota what it is (Toyota, 2012). They have R&D facilities in key markets such as USA, Japan, China, Australia and Europe. Japan being their headquarters has extensive production sites and dealer networks. Toyota’s Global Presence Courtesy: Toyota-global.com Discussion Toyota has a pursued a combination