International Marketing

Question 1

What are marketing principles similar in

Answer 1

Marketing principals in foreign markets are similar to those in domestic markets

Question 2

What are the seven P’s in marketing

Answer 2

Product
Price
Promotion 
Place
People
Process
Product
Physical evidence

Question 3

What does your international marketing strategy depend on

Answer 3

Your international marketing strategy depends on your marketing orientation

Question 4

Types of marketing orientation

Answer 4

Product orientation 
Sales
Customer
Strategic marketing 
Social marketing

Question 5

Product orientation definition

Answer 5

Key four on production

Relevant in commodities markets

Question 6

Sales orientation definition

Answer 6

Assumption of similarities between export and home markets
Active sales promotion
Risk/advantage of developing global product

Question 7

Customer orientation definition

Answer 7

Customer / market characteristics dominates products and marketing mix

Question 8

Strategic marketing orientation

Answer 8

MNEs regularly selling abroad chose a mix of production/sale and customer orientation

Question 9

What is social marketing orientation

Answer 9

Close attention is payed to the social action of the firms impacts on the environment

Marketing is beyond sales and looks at how the products are made

Question 10

Ways you can segment a market

Answer 10

By country
By global segment
By market

Question 11

Why firms may alter products

Answer 11

Legal
Cultural
Economic

Question 12

Pricing strategies

Answer 12

Price skimming
Penetrating pricing
Cost plus
Product diversity

Question 13

What is price skimming

Answer 13

High price for a new product, first target those who can afford it then target others to capture a wider market

Question 14

What is penetration pricing

Answer 14

Introducing the product at a low price to get a market hold

Question 15

Cost plus definition

Answer 15

A product price is set at a set price over total costs

Question 16

Product diversions

Answer 16

The selling and handling of goods through unofficial distributors

Question 17

What are the promotional mix

Answer 17

Advertising 
Personal selling
Sale promotions 
PR
Direct marketing
Push / Pull mix

Question 18

Promotional mix definition

Answer 18

The promotional mix refers to one of the 7ps.

It is defined as all the forms of communication that an organisation uses to establish meaning for its product or service as well as a way to influence the buyers buying behaviour

Question 19

Advantages of standardised marketing

Answer 19

Advantages

• lower costs
• common global image
• rapid entry into markets

Question 20

Disadvantages of standardised marketing

Answer 20

Disadvantages

• translation
• legality
• market need

Question 21

Questions that need to be asked when choosing a distribution strategy

Answer 21

Where the company can handle it
Are they qualified to do so
Reliability of the service

Question 22

What is gap analysis and what is it used for

Answer 22

The gap anylsis is a reporting process used to improve processes within various industries.

A strong gap anylisis will allow a project manager to determine where the business is and where it wants to be