Ch. 1 International Marketing Flashcards
Define International Marketing
International marketing is the process of planning and conducting transactions across national borders to satisfy the objectives of individuals and organizations.
What is Domestic Marketing?
The company focuses only on the home market.
What is Export Marketing?
The company sells products abroad but does not have foreign operations.
What is International Marketing?
The company establishes subsidiaries or partnerships in other countries but manages them separately.
What is Global Marketing?
The company integrates marketing activities worldwide for efficiency.
Provide an example of a company using a global marketing strategy.
Apple follows a global marketing strategy.
Provide an example of a company using international marketing.
McDonald’s adapts its menu to each country.
What is Ethnocentric Orientation?
The home country is the best, and international markets are secondary.
Give an example of Ethnocentric Orientation.
A U.S. clothing brand selling American-style clothes in Japan without adapting to local preferences.
What is Polycentric Orientation?
Every country is unique, so each market gets a different approach.
Give an example of Polycentric Orientation.
McDonald’s modifies its menu in India (McPaneer) and Japan (Teriyaki Burger).
What is Regiocentric Orientation?
The company groups countries into regions and uses a common strategy within those regions.
Give an example of Regiocentric Orientation.
A European cosmetics brand applying similar marketing strategies across all EU countries.
What is Geocentric Orientation?
The company sees the world as one big market and uses a unified approach.
Give an example of Geocentric Orientation.
Coca-Cola sells similar products globally with minor local adaptations.
Identify an Environmental Driver of Internationalization.
Competition, Regional Integration, Technology & Communication, Economic Growth, Market Transition, Converging Consumer Needs.
What is a Firm-Specific Driver of Internationalization?
Product Life Cycle, High Development Costs, Standardization & Economies of Scale, Cheap Labor, Experience Transfers.
How does Competition drive international expansion?
Companies expand globally to keep up with competitors.
How does Regional Integration facilitate international expansion?
Trade agreements make it easier to operate in multiple countries.
How does Technology & Communication impact international marketing?
The internet and social media help businesses reach global customers.
What opportunities arise from Economic Growth in emerging markets?
Emerging markets offer new opportunities.
What is the impact of Market Transition on internationalization?
Formerly closed economies opening to foreign businesses.
What are Converging Consumer Needs?
People worldwide developing similar tastes.
How does Product Life Cycle influence international expansion?
Selling in new markets extends a product’s life.
