Question

Milagros works for a major manufacturer and distributor of Caribbean foods and products as a marketing strategist. Milagros and her team are brainstorming some ideas that can help the company stay competitive as it expands.

Fill in the blanks with the words that best complete the passage.
As the company plans to expand globally, Milagros and her team must engage in ___________ , the process through which they decide their price points, which products they are going to carry at their flagship stores around the world, and make decisions about the company's promotional campaigns.

Answer 1

Milagros and her team are tasked with forming a marketing strategy to help the company stay competitive as it expands internationally, considering product selection, pricing, and promotion.

Step-by-step explanation:

As the company plans to expand globally, Milagros and her team must engage in marketing strategy, the process through which they decide their price points, which products they are going to carry at their flagship stores around the world, and make decisions about the company's promotional campaigns.

Marketing strategy is crucial for a corporation like the one Milagros works for, especially when dealing with the complexities of globalization. In the context of international markets, it involves understanding the nuances of global commodity chains, and leveraging improvements in communication technologies and internet growth for business-to-business interactions. It also requires attention to how products are marketed and branded internationally to maintain a consistent reputation, and navigating international trade considerations to ensure ease of access across borders, as discussed during events like the World Economic Forum.