global marketing in the firm

Question 1

what is globalization

Answer 1

reflects the trend of firms buying/developing/producing/selling products and services in most countries and regions in the world

Question 2

what is the opposite of globalization

Answer 2

deglobalization

Question 3

what is the 5 stage decision model

Answer 3

1. internationalize?
2. which market?
3. market enter strategies
4. global marketing programme
5. global marketing implementing and coordinating

Question 4

what is the 5 stage decision model used for

Answer 4

to decide whether a company should expand to a foreign market

Question 5

what is the opposite of a large scale enterprises

Answer 5

a small and medium sized enterprises

Question 6

how many employees does a large scale enterprise have

Answer 6

more than 250

Question 7

how many employees doe small and medium sized enterprises have

Answer 7

small - less than 50 employees
medium between 50 and 250

Question 8

characteristic of large scale enterprise

Answer 8

resources: many, internationalization, coordinating
decision making plan: deliberate, 5 stage decision model
organization: hierarchical
focus on long term opportunities
low flexibility

Question 9

characteristics of a small and medium sized enterprise

Answer 9

resources: limited, externalization
decision making plan: entrepreneurial decision, emergent, owner involved
organization: informal/flat
focus on short term opportunities
high flexiblity

Question 10

what is economies of scale

Answer 10

accumulated volume in production, resulting in lower cost per unit

Question 11

what is economies of scope

Answer 11

reusing a resource from one business/country in additional businesses/countries

Question 12

where does EPRG stand for

Answer 12

ethnocentric
polycentric
regiocentric
geocentric

Question 13

what is ethnocentrc

Answer 13

home country orientation

Question 14

what is polycentric

Answer 14

host country orientation

Question 15

what is regiocentric

Answer 15

regional orientation

Question 16

what is geocentric

Answer 16

global orientation

Question 17

what is glocalization

Answer 17

global + local

Question 18

explain glocalization

Answer 18

global: low-cost producing/selling, roll-out of concepts, low complexity
local: culturally closer to consumer, flexible response to local consumer needs, regional/local market penetration

Question 19

what are the global marketing tasks

Answer 19

1. coordinate and implement marketing activities
2. global consumer needs?
3. satisfy global consumers
4. be better than competition

Question 20

what are the internationalization motives

Answer 20

market, efficiency, resource, strategic asset -seeking

Question 21

what does michael porter’s value chain entail

Answer 21

1. support activities - firm infrastructures, HR management, tech & development, procurement
2. primary activities - inbound logistics, operations, outbound logistics, marketing & sales, sales
   both bound by margins
   it includes value activities too

Question 22

what are margins in michael porter’s value chain

Answer 22

difference between total value and the collective cost of preforming the value activities

Question 23

what are the valuable activities in michael porter’s value chain

Answer 23

building blocks with which a firm creates a product valuable to its buyers

Question 24

what is a value network

Answer 24

formation of several firm’s value chains into a network, where each company contributes a small part to the total value chain

Question 25

what is a value shop

Answer 25

model for solving problems in a service environment similar to workshops. value is created by mobilizing resources and deploying them to solve a specific customer problem

Question 26

what is customer experience

Answer 26

use of a product plus the service to engage the individual customer in a way that creates a memorable event