Presented By:

Awais Sohail

Presented To:

Mam Hina Hayyat

Class:

BBA-3-A

Roll no#

008
Marketing Management:

Question: How Does Culture impact on Businesses.

Answer: The influence of cultural factors on business is extensive. Culture impacts how
employees are best managed based on their values and priorities. It also impacts the
functional areas of marketing, sales, and distribution. It can affect a company's analysis and
decision on how best to enter a new market.

Question: what are three steps to keep in mind if you are evaluating a
business opportunity in a culture or country that is new to you?

Answer: Market Size

One of the most important factors when evaluating a business opportunity is
market size. Do a little market research. Figure out if there is a market for the
opportunity — and how big that market is.
Before you move forward, you want to be sure the demand is there. You don’t
need to appeal to a massive market, but it does help if you understand the
market. Additionally, knowing how engaged the market is and how likely they
are to pay for what’s being sold can help.

2. Relationships
Does the business opportunity come with some relationships? For example, do
you have an “in” that can help you leverage the opportunity? If you know
someone who is technically minded, that can help you with certain aspects of
the opportunity. What are your relationships with potential investors or
customers? When you have more relationships, the opportunity is likely to run
smoother.

3. Ability to Manage Cash Flow

Next, you need to look at the ability to manage cash flow. Is there start-up
funding for the business? What about ways to keep funding the business each
month. Figure out how the cash flow will be managed, and take a look at the
business plan. You want to make sure that the business is likely to sustain itself
after a period of time.

Question: If you are working for a small or entrepreneurial company, what

are some of the challenges you may face when trying to do business in a new
country? what are some advantages?
Answer: Every entrepreneur faces their own share of struggles or challenges. However,
there are some that are similar and cut across every industry.
Such challenges provide great entrepreneurial lessons when one overcomes them.
Therefore, starting a new business at any age is fraught with risk. This shouldn’t discourage
you. Here's a look at some of the challenges young entrepreneurs face;

1. Cash flow management

Cash flow is essential to small business survival, yet many entrepreneurs struggle to pay the
bills (let alone themselves) while they’re waiting for checks to arrive. Part of the problem
stems from delayed invoicing, which is common in the entrepreneurial world. You perform a
job, send an invoice, and then get paid (hopefully) 30 days later.

2. Marketing strategy:
Positioning your product/service in such away that you will maximize on the returns is
proving to be a challenge to many entrepreneurs. This is because some entrepreneurs are
venturing into their projects completely ignorant of the Dos and Don’ts. It is therefore
recommended that you contact a proper research and if possible have a hands-on case
study. Don’t just invest blindly.

3. Capital
You want to start or grow your business, but you have little capital to do it with. Here,
patience and proper discipline is required when it comes to cash management. It is always
estimated that your business won’t pick up in the first three to four months. Therefore, a
little patience is required. You can also get investors or apply for a quick loan to get you
started.

4. Criticism and self-doubt

As a young entrepreneur, you will find that not everyone will take you seriously. They will
tell you that you are too young to build a successful business. They will be quick to tell you
just what they think you are doing wrong. At times, the criticism and the self-doubt it fosters
might get to you. As your business struggles to get off the ground, you could start to doubt
yourself.

5. Finding Customers
Even if you offer the best-quality product or service available in the market today, your
chances of failure will be high if you don’t find loyal customers.
Advertising may help you find people who will really be interested in your product or
service. If you don’t have money for ads, try to find customers within your circle of friends
or family members. Let them spread the news to their friends as well.

6. mBuilding a Successful Team

Hiring employees isn’t as easy as it seems. You don’t hire them for a week; you hire them for
years. They should be loyal, love their job, and agree on the paycheque you offer.
It’s also important that you respect your employees and treat them like your colleagues and
friends.
Advantages:
 While intermediaries may opt for short-term sales, this way you can plan for the long
term.
 Your customers will take you more seriously if you have a local base. This is
particularly true if your products require specialist after-sales service.
 If you use a joint venture, you will be able to share the risk. You will also benefit from
your partner's local knowledge and reputation.
 If you operate alone, all profits from the enterprise remain yours alone.
 A local subsidiary company offers limited liability if things go wrong. It is also easier
to expand than a local office.
 It provides an opportunity to extend your intellectual property rights and
registrations into other markets.