Joan Ltd., a producer of cosmetic products, has decided to engage in international marketing of its products a) State five factors that may have influenced ...

Joan Ltd., a producer of cosmetic products, has decided to engage in international marketing of its products

a) State five factors that may have influenced Joan Ltd's decision to go international

b) State five rules and regulations the Company would observe while selling its products in other countries

Answer Details

a) Factors that may have influenced Joan Ltd's decision to engage in international marketing:

1. Increased demand: The company may have experienced a high level of demand for its products from consumers in other countries, prompting it to consider expanding its market.
2. Competition: Joan Ltd. may have faced increased competition in its domestic market, and thus decided to explore new markets and gain a competitive advantage.
3. Growth potential: International markets may offer significant growth opportunities for the company, particularly if it is operating in a mature market with limited potential for expansion.
4. Diversification: Expanding into international markets can help Joan Ltd. diversify its revenue streams and reduce dependence on its domestic market.
5. Access to resources: Joan Ltd. may be seeking to access new resources such as raw materials or labor, which may be available in other countries.

b) Rules and regulations Joan Ltd. would need to observe while selling its products in other countries:

1. Compliance with import regulations: The company would need to comply with the import regulations of the countries it is exporting to, including obtaining the necessary permits and certifications.
2. Compliance with product safety standards: Joan Ltd. would need to ensure that its products meet the safety standards of the countries it is exporting to, including labeling requirements.
3. Compliance with tax and customs regulations: The company would need to comply with the tax and customs regulations of the countries it is exporting to, including paying any applicable taxes and duties.
4. Compliance with intellectual property laws: Joan Ltd. would need to ensure that it is not infringing on any intellectual property laws of the countries it is exporting to, including trademarks and patents.
5. Compliance with environmental regulations: The company would need to comply with the environmental regulations of the countries it is exporting to, including waste disposal and emissions standards.