International Business Case Study - 1558 Words

1. What is international business? An international business is the exchange of goods and services with business or individuals in different countries all over the world. 2. Explain the 5 benefits that international trade offers to businesses? The 5 benefits that international trade offers to businesses are: Access to the Market - It’s when most business depend on international trade for their economic survival. Most countries usually have a larger international market then domestic market. Sometimes larger markets don’t always convert into big sales. Other times, certain countries companies have trouble adapting their products to several different types of markets because consumers that buy the item or contribute to the service have†¦show more content†¦3. Describe the 5 P’s of international business. The 5 P’s of international business are: Product – Basically, the product of international business is what you are selling to your target audience to buy your item. A resource in a country determines what goods and services it can produce. Price – The price is what you’re going to set for a certain product or service. It can be adjusted to the price of the product or service according to where you are. Proximity - The proximity of international business is if it can be more profitable to sell products or services to consumers in neighbouring or domestic countries. Preference – The preference of international business depends on consumers. Consumers may want to buy foreign goods or services over domestic brands, because of their specialization and reputation. Promotion – According to nowadays, the time technology makes it easier to advertise products and provide services internationally. 4. Explain the 5 barriers to international business. The 5 barriers to international business are: Tariffs- They’re a form of tax on certain types of imports. They are based on a percentage-of-value basis or on some specific basses. This is very important for any government while managing trade with other nations. This is a barrier to trade between certain countries r in geographical areas. Non-tariff barriers - Non-tariff barriers areShow MoreRelatedInternational Business Case Study2274 Words   |  10 PagesInternational Business Case Study Sun Life Financial and Indian Economic Surge How is the Insurance market in India changing? Why is India an attractive market for investment? The insurance market in India has undergone significant changes over the past few years The Insurance Act of 1938 was the first legislation governing all forms of insurance to provide strict state control over insurance business. Life insurance in India was completely nationalized on January 19, 1956, through theRead MoreInternational Business Case Study7015 Words   |  29 PagesAssociation of Business Executives QCF International Business Case Study Fiat Automobiles S.p.A Tuesday 4 June 2013, Afternoon This is an open-book examination, and you may consult any previously prepared written material or texts during the examination. Only answers that are written during the examination in the answer book supplied by the examination centre will be marked. 6IBCS0613  © ABE 2013 J/601/2793 Notes l As in real life, anomalies may be found in this Case Study. PleaseRead MoreInternational Business Case Study934 Words   |  4 Pagescontaining vitamins and minerals which can prevent heart disease, obesity and dental problems. 2. What, if anything, can Western countries do to help improve the political climate for doing business in Vietnam? Give examples. a. 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