Mkt 421 Week 3 Distribution Strategy Paper

Describe three distribution strategies that companies can use when entering a new market? One strategy is “a joint-venture or partnership with a local company” (Carpenter & Sanjyot, 2013). This allows a company to still build the company as they want to but have a foot in the door to the culture, community, and needs. Another “strategy is to acquire a local company to have immediate access to large-scale distribution” (Carpenter & Sanjyot, 2013). This allows the company to get up and running immediately – they will already have their market. The final strategy is to build your business there yourself. This requires more work and money. It will take more effort in order to acclimate to the market and understand the needs of the company

The marketing mix – culture, economic level, cost (can they afford it), and that countries media and distribution channels (Carpenter & Sanjyot, 2013). How do you appeal to them (understanding your consumer), how do you price it, and how do you get it to them. The textbook talked about packaging – do you need a different picture or words (our words can mean something else in another country). It also talked about size of the product – would the consumers be more apt to buy larger or smaller volumes. The textbook also discussed whether or not the consumers will even want to buy from an outside company – are they dedicated to home-grown businesses (will yours be received

Because they have “developed different cultures, languages, and social and economic traditions” (Carpenter & Sanjyot, 2013).
What are the advantages of a single set of international accounting standards? To allow easy comparison of “the financial health of two companies” (Carpenter & Sanjyot, 2013). If you were comparing two companies who used different standards it would be difficult to know which one was actually in a better financial position than the other. One might look better than the other based on how it is presented, but in reality they are not.
Which set of accounting standards does the United States follow? Why are some governments reluctant to follow IFRS? The United States requires use of the “standards known as generally accepted accounting principles (GAAP)” (Carpenter & Sanjyot, 2013). “Accounting standards can be complex; this makes modification of standards difficult” (Carpenter & Sanjyot, 2013). As well, different practices of different countries makes it more complicated to have a unified format (Carpenter & Sanjyot, 2013). The book outlines how in the U.S. and Great Britain investors provide a lot “of capital to companies, so accounting rules are designed to help individual investors” (Carpenter & Sanjyot, 2013). It also speaks to Germany, Japan, and Switzerland and how they rely on their banks for their funding with less information being disclosed to the general public (Carpenter & Sanjyot,