4.7 International marketing

Question 1

What is ‘international marketing’?

Answer 1

the marketing of a firm’s products in foreign countries

Question 2

What are the internal and external methods of entering international markets?

Answer 2

exporting
direct investment
e-commerce
joint ventures
strategic alliance 
franchising
licensing
mergers
acquisitions

Question 3

What are the opportunities of entering international markets?

Answer 3

increased customer base
increased brand recognition
economies of scale
spread risks
extend the product life cycle
gain more profit

Question 4

What are the threats of entering international markets?

Answer 4

legal issues (Copyright, trademark and patent legislation)
political issues
social and demographic issues (pressure groups)
economic issues (international trade)

Question 5

What are the implications of international marketing?

Answer 5

language and cultural differences
legal differences 
political environment
economic environment
infrastructure

Question 6

What are cultural differences in international marketing?

Answer 6

cultural exports
language
ethics
international business etiquette

Question 7

What are cultural exports?

Answer 7

the commercial transfer of ideas and values from one country to another

Question 8

What is international

business etiquette?

Answer 8

the mannerism and customs by which business is conducted in different countries.

Question 9

What is globalisation?

Answer 9

the integration and interdependence of the worlds economies.

Question 10

What is global marketing?

Answer 10

an extension of international marketing. It involves selling the same product using the same marketing approach throughout the world, as used by global brand leaders