Once a firm has decided on which method to use to enter a global market and evaluated the various external variables, it is ready to create a marketing mix. What is the first step in creating the global marketing mix?
A)create a new product
B)select the method of promotion
C)collect and analyze market research information
D)decide whether product modification is necessary

Question

Quizplus · Accepted Answer

Collecting and analyzing market research information is the first step in creating a global marketing mix because it is important to understand the cultural and economic differences of the target market before making decisions regarding the product, price, promotion, and distribution. This step will help the firm identify the needs, preferences, and behaviors of the target audience and tailor the marketing mix accordingly. Only after conducting market research can the firm decide which modifications, if any, are necessary for the product, and how to effectively promote and distribute it in the global market.

Once a Firm Has Decided on Which Method to Use