Describe how can use Product Adaptation to Improvise your Business.

Question 1 – Product Adaptation
a) Describe 5 different areas of product adaptation that you would need to consider (2.5 marks)
b) When you are required to adapt your product, you will also have to consider adapting the promotion and advertising strategies. Describe 5 things you might want to change in the advertising and promotion strategies (2.5 marks)
c) However, before you actually change the advertising and promotion strategies, you will have to decide whether that is something you actually should do. Should you change them? Should you leave them the same? Pick one option and discuss the merits of this approach. (5 marks)
Question 2 – Political Legal Regulatory
a) Describe the three critical elements in a political risk management strategy. (2.5 marks)
b) Describe three types of rules and regulations affecting business conduct in the target market. (2.5 marks)
c) Discuss the legal challenges that marketers face in developing new markets (5 marks)

Question 3 – Pricing Strategies

a) Identify 5 elements which must be considered in creating a pricing strategy (2.5)
b) Discuss the factors which should be considered when formulating a pricing strategy (5 marks)
c) Describe two international pricing constraints (2.5 marks)
Question 4 – Market Penetration
a) What are the merits of using personal selling as a market development strategy (5 marks)
b) Describe the steps that should be taken in preparing for an international tradeshow (5 marks)