Egt1 Task 4 Essay

Words: 1816
Pages: 8
Open Document
A. Cross-Cultural Differences Company X is considering expanding its business to China. However, prior to moving into a new and foreign market, Company X must understand the various cross cultural differences that are relevant to properly conducting business in China. By being more sensitive to and understanding the cross-cultural differences, Company X's transition into the new market should be less challenging and improve its chances of acceptance. Language, work ethic and material culture are three cultural differences that should, first, be understood prior to pursuing opportunities in China.

Language is a barrier that will greatly influence the ability of Company X to conduct business in China. Included in this category …show more content…
Therefore, the components of the marketing mix (products, price, promotion and place) strategies might require adjustments to become attractive to the Chinese market.

Often times, the total product must be modified to accommodate the needs and appeal of a specific market. This does not necessarily mean that the manufacturing or production process is modified. The total product consists of the brand, accessories, services, warranty, instructions, image and packaging (Ball et al, 2009). For example, if Company X decides to sell certain circuit boards in China, it might be more beneficial to modify the package and instructions that are written in English for the U.S. Market and translate into Mandarin or Cantonese for the Chinese market. Another example is in the frozen food industry. If Company X is distributing frozen meats, like chicken and beef, to grocery retailers in the U.S. and wants to expand into the Chinese market, the company might encounter infrastructure challenges because many rural and undeveloped areas of China may not be equipped with freezers. It's more common to find fresh or live chickens in markets so Company X may want to consider modifying its product strategy from distributing frozen food in China to fresh distribution as an alternative.

Pricing also needs to be addressed because purchasing power in the foreign currency may differ from the U.S. dollar. Prices need to be adjusted to consider the cost of living in China. For
Show More

Related Documents: Egt1 Task 4 Essay

EGT1 Task 4

Hello Marilyn Gonzalez and Daryl Perrone: At your request, I used the HR data to formulate a statistical analysis evaluating candidates based on the performance measures of citizenship, absence, performance, and promotion potential which will be used to identify individuals who will be the best performers on the job. The validity of the predictors was evaluated with a predictive validation design, meaning that the tests were given during the selection process to candidates and then a year later…

Words 404 - Pages 2

EGT1 Task 1 Essay

EGT1 Task 1 A1) Profit maximization is a the process a company takes to measure difference between cost and profit in order to determine the most successful profit ratio for the company. (profit maximization, Wikipedia, 2014) Total Revenue is the total dollar amount that is made from all items a company sells. “Total cost is a combination of all variable and fixed cost expenses at various levels of production”. (Profit maximization, Wikipedia, 2014) To maximize the profits of a company the total…

Words 819 - Pages 4

Profit Maximization Is Taken From Two Different Sources That Counterbalance Each Other?

Bridget Hutchings - 228303 EGT1 - Task 309.1.1.05, 06 Profit Maximization is taken from two different sources that counterbalance each other. This is best described as total revenue (TR) vs. total cost (TC). Total revenue is measured as a firm's total profit from a service delivered or sales of products. This total amount of revenue or sales comes from consumer spending. However, total cost includes all purchases of labor, raw materials, transportation, production,…

Words 796 - Pages 4