Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

International Marketing > Exam > Flashcards

Exam Flashcards

1
Q

What are the main differences between the sale of a good and the sale of a service internationally?

A
  • Services are often intangible, customized and personal.
  • Growth far exceeding goods sales
  • Export licenses
  • Govt intervention on permitted services (national security ect)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The 4 types of international services are?

A
  1. Cross border - telecommunications / postal
  2. Consumption abroad - tourists, students, or patients
  3. Commercial presence - services such as banks and hotels.
  4. Movement of national persons - Doctors, scientists ect
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How do sales of services stack up in total GDP for most developed economies?

A

70-80% Domestic GDP

20-30% Export GDP

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Problems with measuring services include?

A

Services are both physically and statistically invisible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Barriers to international trade of services include?

A
  1. National security
  2. Economic securities
  3. National regulations
  4. Trading tax
  5. additional costs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are GATS?

A

General Agreement of Tradible Services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is BPO?

A

Business Process Outsoursing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are the 3 extra P’s of services marketing?

A
  1. People
  2. Physical evidence
  3. Processes
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are the 4 natures of a service?

A
  1. People
  2. Possessions
  3. Mental stimuli
  4. Information Processing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are 4 examples of proactive motivations?

A
  1. Profit
  2. Tax advantage
  3. Economies of scale
  4. Unique products
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are 4 examples of Reactive motivations?

A
  1. Competitor activity
  2. Saturated domestic markets
  3. Over production (downturns especially)
  4. Proximity to target consumer
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are primary change agents to internationalise a business?

A

New management
Demand
Reduced export costs
Governing policies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are the 4 primary forms of market entry?

A
  1. Licensing
  2. Franchising
  3. Full ownership
  4. joint venture
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are the three main categories of “FDI Seekers’?

A

Market seekers - profit
Efficiency seekers - economies of scale
Resource seekers - proximity to materials

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are the 4 features of any product?

A
  1. Core product - Benefit / service
  2. Tangible product - packaging, quality, brand.
  3. Intangible product - positioning, country of origin
  4. Augmented product - features that set the product apart
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are the 4 main options when either standardising or adapting a product?

A
  1. Market product as is.
  2. Adapt a product to suit a market
  3. Create a new product for a market
  4. Make a globally marketable product
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What are some key benefits of standardisation?

A
  • Economies of scale
  • Reduction in R&D and Marketing costs
  • Global competition
18
Q

What are some key benefits of product adaption?

A
  • Differing usage conditions
  • Govt influences
  • Local competition
  • Marketing concept
19
Q

What is Homoginisation?

A

The common belief that many cultures are becoming more similar, and that in future, perhaps standardisation will always be more effective than product adaption

20
Q

What are Non-Tarrif barriers?

A

-Local requirements that make exporting costly.

Such as: product standards and testing

21
Q

What is ISO 9000?

A

-A standard which shows business processes are complient

22
Q

What is ISO 14000?

A
  • A standard which shows a businesses compliance of pollution and recycling.
23
Q

Backward innovation is?

A

When a product is stripped down to its bare essentials to be made affordable for emerging economies.

24
Q

What are product constituents?

A

The ingredients in a product

- must not break any laws

25
Q

What are the 4 T’s of brand adaption (logo adaption)?

A
  1. Translatibility
  2. Transliteration - what it means
  3. Transparency - making a brand meaningless
  4. Transculture - a product which sounds where its from i.e. vodka
26
Q

What is price skimming?

A

When prices are initially set high and drop over time

27
Q

What is Market pricing?

A

Pricing based on competitor pricing

28
Q

What is penetration pricing?

A

Pricing low, usually to gain market share - sometimes at a loss.

29
Q

What are the 4 stages to setting an export price?

A
  1. Assessment of pricing environments
    - External; market / industry factors
    - Internal; marketing mix (product, distribution, promotion), company characteristics(countries exported to), management attitudes (price position, importance of exports)
  2. Pricing policy selection
    - objectives
    - competitive posture
    - decision control
    - flexibility
  3. Price strategy determination
    - Standardisation
    - Differentiation; cost+ and marginal
  4. Setting of price
30
Q

What is dual pricing?

A

When domestic and export prices are differentiated

-i.e standardisation + marginal

31
Q

What are 3 examples of export associated costs to a business?

A
  1. product modification costs
  2. operational costs
  3. foreign market costs
32
Q

What is PPP?

A

Purchasing Power Parities

- How much of currency A are needed to buy a good or service in currency B.

33
Q

What is PQLI?

A

The Physical Quality of Life Index

  • life expectancy
  • Infant mortalities
  • Adult literacy
34
Q

Social media marketing has many comparative advantages over traditional marketing techniques. List three disadvantages of traditional marketing techniques.

A
  1. expensive
  2. inefficient
  3. ‘1 way’
35
Q

What is CGM?

A

Consumer Generated Marketing

36
Q

What are the three main reasons for marketing through social media?

A
  1. Sales
  2. Market research
  3. Generation of buzz
37
Q

What is Crowd-sourcing?

A

Generating new product ideas and innovations by mining a targeted group of consumers.

38
Q

What are the three primary factors when deciding whether or not product adaption is the right decision or not?

A
  1. Regional, local or country characteristics
  2. Product Characteristics
  3. Company considerations
39
Q

What are 5 examples of regional, local, and country characteristics?

A
  1. Government regulations
  2. Non-tarrif barriers
  3. Climate and or geography
  4. Competitor offerings
  5. Economic state of region / consumers
40
Q

What are 5 examples of product characteristics?

A
  1. Product constituents
  2. Brand
  3. Packaging
  4. Quality
  5. Country of origin

Also augmentation, functions and features, usage, positioning

41
Q

What are 3 company considerations?

A
  1. Profitability
  2. market potential
  3. cost of adapting
42
Q

What does the phrase ‘think global but act local’ mean?

A

The practice of conducting business according to both local and global considerations

International Marketing (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions