Assignment 1: Marketing Presentation SEE ATTACHMENT!!

The figure shows relatively high scores on individualism, high scores on indulgence and masculinity in the U.S. The nation is fair in terms of uncertainty avoidance and power distance. However, it believes in short-term business agreements (geert-hofstede.com, n.d.).

English is the most common language spoken in the country followed by Spanish. People value time, save and spend it wisely. Those who keep time are considered good and reliable people. In business, the U.S tends to be competitive and open to innovation and change. They exchange business cards without any formal ritual and arrive on time in meetings. Those who arrive late may be considered disrespectful (commisceo-global.com, n.d.).

· U.S Business Laws

They include;

The Marketing and Advertising law where businesses have the legal responsibility that their advertising claims are truthful and adhere to the law. The Federal Trade Commission (FTC) is responsible for overseeing and regulating this law in the U.S. The law impacts several business areas including how telemarketing campaigns are conducted, environmental and health claims, and labeling of products among others (sba.gov, n.d.).

The Employment and Labor law is concerned with hiring of employees. It prohibits discrimination and harassment among employees. The U.S department of Labor is responsible for overseeing this law with states having specific laws (sba.gov, n.d.).

The Intellectual Property law requires businesses to protect their logo and business name. It has steps involved in filling trademarks, patents, or copyrights along other additional resources. It allows vendors or employees to sign non-disclosure agreements. The Environmental regulations require firms to comply with the law and dispose of hazardous or non-hazardous waste properly to avoid harming the environment (sba.gov, n.d.).

· Trade Issues – Trade tensions stem when some countries fail in their trade regimes. U.S policymakers and stakeholders have been concerned about China’s alleged extensive use of industrial policies such as investment and trade barriers and widespread cyber economic issues against U.S firms (Morrison, 2015).

· Economic Issues – The American government requires countries such as China to strengthen intellectual property rights enforcement in order to protect innovative industries. It requires countries to hold accountable violators of intellectual property. The government also focuses on eliminating discriminatory innovation policies (ustr.gov, 2011).

Strategy for Entering U.S. Market

LeEco Company intends to enter the U.S market as a direct investment. Since the company is well-established in China and has resources and shows high levels of commitment, it can maintain ownership of the company in the U.S markets. It also intends to enter other foreign markets; therefore, direct ownership with high degree of control of operations can enhance its expansion and growth. The company has performed adequate market research and is aware of the competitive environment and consumer needs in the U.S markets.

Positioning of LeEco’s Products in the U.S

LeEco Company can have good positioning in the U.S markets if its product portfolio makes sense and the company differentiates each product from its competitors. The company must ensure that it considers key dimensions of positioning; relevance, functionality, and differentiation. The company should focus on its differentiation strategy when positioning its products. It should single out its products elements or features that will make it unique in the marketplace while bearing relevance to potential customers. It should also identify fundamental value proposition that the product will provide to target customers (marsdd.com, 2013).

Branding Strategies for the U.S. Market

Americans value products of high-quality and functionality unlike Chinese who look for prestige, luxury and, the exclusiveness of a brand. Americans associate brands with a mere value-for-money, unlike the Chinese who associate products with exclusivity and prestige. Americans make a rational approach to brand choice, unlike the Chinese who look for prestige when purchasing products. For example, Americans would purchase LeEco’s products based on convenience and communication while the Chinese would rush to be the first one to purchase the product to display their new status to others. Chinese tend to be affected by the use of well-known branded products on television shows, unlike the Americans who pay little attention to the displayed brand (Daye, 2012). LeEco Company should associate its product with convenience and communicate its features to potential consumers in the U.S market.

Conclusion

There are several factors that companies should consider when they enter foreign markets including international marketing concepts, trade agreements, the foreign country’s culture, and strategies for entering the foreign market, branding, and product positioning among others. LeEco Company based in China is considering entering the U.S markets and must adhere to U.S business laws and trade agreements in order to succeed in this market. The company should learn and understand American culture in order to succeed in the market. It plans to enter the U.S market as a direct investment so that it can grow and expand to other countries globally. I recommend the company to ensure that it produces products with unique features in order to attract customers and effectively compete with companies like Apple and Samsung.

References Akolawala, T. (2016, June 20). LeEco Looks to Enter the US Market This Fall. Retrieved August 01, 2016, from Gadgets 360: http://gadgets.ndtv.com/mobiles/news/leeco-looks-to-enter-the-us-market-this-fall-851309 Daye, D. (2012, August 28). Brand Positioning for Chinese Markets. Retrieved August 03, 2016, from Branding Strategy Insider: http://www.brandingstrategyinsider.com/2012/08/brand-positioning-for-chinese-markets.html#.V6JwZhKn_Gg Denyer, S. (2015, August 15). Chinese Companies Face Culture Shock in Countries that aren’t like China. Retrieved August 02, 2016, from The Washington Post: https://www.washingtonpost.com/world/chinese-companies-face-culture-shock-in-countries-that-arent-like-china/2015/08/14/a048eb64-3bbd-11e5-88d3-e62130acc975_story.html Gibbs, C. (2016, June 20). LeEco buys Land in Silicon Valley ahead of U.S. Smartphone Launch. Retrieved August 01, 2016, from Fierce Wireless: http://www.fiercewireless.com/wireless/leeco-buys-land-silicon-valley-ahead-u-s-smartphone-launch Kelly, N. (2015, September 07). The Most Common Mistakes Companies Make with Global Marketing. Retrieved August 02, 2016, from Harvard Business Review: https://hbr.org/2015/09/the-most-common-mistakes-companies-make-with-global-marketing Learn About Business Laws. (n.d.). Retrieved August 02, 2016, from U.S Small Business Administration: https://www.sba.gov/starting-business/learn-about-business-laws Majaro, S. (2013). International Marketing (RLE International Business). Abingdon: Routledge. Morrison, W. M. (2015, December 15). China-U.S Trade Issues. Retrieved August 03, 2016, from Congressional Research Service: https://www.fas.org/sgp/crs/row/RL33536.pdf People's Republic Of China Trade Relations Agreement. (n.d.). Retrieved August 02, 2016, from export.gov: http://tcc.export.gov/trade_agreements/all_trade_agreements/people_china.asp Positioning. (2013, December 06). Retrieved August 03, 2016, from MaRS Discovery District: https://www.marsdd.com/mars-library/positioning-creating-an-image-of-your-product-in-your-target-customers-mind/ U.S.- China Economic Issues. (2011, January). Retrieved August 03, 2016, from Office of the U.S Trade Representative: https://ustr.gov/about-us/policy-offices/press-office/fact-sheets/2011/january/us-china-economic-issues USA Guide. (n.d.). Retrieved August 02, 2016, from Commisceo Global : http://www.commisceo-global.com/country-guides/usa-guide What about the USA? (n.d.). Retrieved August 02, 2016, from Geert Hofstede: https://geert- hofstede.com/united-states.html

United States Power Distance Individualism Masculinity Uncertainity Avoidance Long-Term Orientation Indulgence 40 91 62 46 26 68