Running head: MARKETING 1

Discussion on Marketing

Student

Institutional Affiliation
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Discussion on Marketing

Whether to Standardize or Adapt the 4Ps in the Marketing

4Ps in the marketing mix will be used. The 4Ps will help in shooting the company’s

revenues. There is a change in the business environment. Consequently, the needs of customers

will change. The 4Ps will help in forming a balance between the market and the firm. 4Ps will

help in marketing the tracking device for teen drivers.

What the Staff should know regarding Differences between the United States and my

Destination

After reviewing the Hofstede cultural index, the staff should know that the destination

has a collectivist culture. It is different from the culture in the United States. America is an

individualistic state. The staff should focus on the greater good of the entire team. Individual

skills, as well as achievements, should be of less focus. All staff should communicate with the

customers from the viewpoint of collectivists.

The Country’s Currency and Exchange Rate against the Dollar

The country’s currency is known as Chinese Yuan. The United States’ dollar is stronger

than the Chinese currency. 1 Chinese Yuan equals 0.14 United States dollars. The average

income of Chinese is 8,452 yuan (People’s Daily Online, 2019). The data provided implies that

an ordinary citizen can purchase the product at ease. The average income is much higher than the

minimum wage. Customers can buy the product and live comfortably.

What the Staff should know about the Economic Environment

It is important to note that China's economic growth, as well as employment, is attributed

to the private sector. Besides, China is among the world’s largest exporter of products. It is the
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fastest-growing consumer market. Further, it is interesting to note that the Chinese become your

friend if you can make them laugh. The staff should at least learn some Chinese humor.
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References

People’s Daily Online. (2019). Average salary in 37 major Chinese cities reaches 8,452 yuan:

report. Retrieved from http://en.people.cn/n3/2019/0705/c90000-9594926.html