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Marketing > International Marketing Development > Flashcards

International Marketing Development Flashcards

1
Q

Identify the key drivers of international marketing development

A

Excess stock, limited growth in domestic market m, comparative advantage and other markets becoming more stable, liberal and accessible

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2
Q

What environmental factors influence international marketing

A

Social, cultural and consumption attitudes as well as technological, economical, legal and environmental factors

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3
Q

What criteria is used when choosing a market

A

Market accessibility, size, geographic and psychological proximity ad well as quality and competition already on the market, cost of entry and potential profits

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4
Q

How may you enter an international market

A

Indirect exporting, licensing, franchising, contracting, direct exporting, joint ventures and direct investment

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5
Q

Explain dumping in international marketing

A

When you have excess supply domestically you can sell it elseware

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6
Q

Explain an
International product life cycle

A

When the life cycle of different products take place in different counties. For example through resale manufacturing etc

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7
Q

What are transnational market segments

A

When similar people exist in different countries

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8
Q

How can transnationalism be good för organizational sustainability

A

Because different markets are in different stages of product adoption and crises are not the same everywhere

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9
Q

How does companies adapt to new environment

A

Encourage empathy, provide cultural training and recruit from the local population

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10
Q

How may attitudes around time differ among cultures

A

punctuality, deadlines, discussion length and time to know each other.

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11
Q

Name some cultural differences relevant to businesses

A

Attitudes to time, business card and gift formalities, dress code, entertainment and body language

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12
Q

What issues might arise regarding language in international markeging

A

Failure to adapt to target audience mike relaxed to businesses people and formal to teens, avoid cringe. English is generally a safe bet but in some regions it is best to adopt the local language and dialect

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13
Q

What six scales characterizes a society

A

Collectivism v individualism, power distance, risk aversion, competitiveness v inclusion
( masculine v feminine in book),
long v short term orientation and indulgence v restraint

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14
Q

What is power distance

A

Acceptance of power inequality and respect for authority

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15
Q

What signifies ling term orientation

A

Placing importance on tradition and history

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16
Q

What technological factors affect international Marketing

A

Infrastructure affects what offerings are available to different markets and how to advertise, for example prople without gas cannot buy gas stoves and you cannot succeed with tv adds in a place with only radio

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17
Q

Name some economic factors if interest to international marketers

A

Size of market and the wealth of those inside as well as exchange rates and the penetration of your product

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18
Q

How might politics discourage trade

A

Through limiting imports aka quotas, taxing imports aka duties and non tariff barriers such as special laws to comply with. They may also subsidize domestic competitors

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19
Q

What questions regarding market should you ask before entry

A

Is there growth, can people and how many may afford the product, what distribution channels exist

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20
Q

What should you ask yourself about your proposition before entering a market

A

Is it demanded (opportunity) and does it require adaptation to fit some special needs

21
Q

What should you ask yourself about competition before entering a market

A

Are they domestic or international and what is their presence. How aggressive are they, are they powerful, are there barriers to entry fir you and others. How will they respond if you enter.

22
Q

What questions should you ask regarding market entry before entering

A

What will it cost, what method is the best, how might partners support you and how similar is the culture, attitudes and values

23
Q

What type if market entry may require ling term agreements

A

Direct investment

24
Q

Rank market entry methods on risk and reward. Start from high risk high reward

A

Direct investment, joint venture, direct exporting, (licensing, franchising or contracting) and lastly indirect exporting

25
Q

What is indirect exporting

A

Ti sell to an intermediary with experience in the foreign market

26
Q

What is contracting

A

To contract a foreign firm yo manufacture or assemble a product in a foreign market

27
Q

What is direct exporting

A

When a firm finds foreign customers to sell to

28
Q

What factors contribute to a successful joint venture

A

Appropriate balance of power, strong communication channels, conflict resolution mechanisms, clear contracts aka clarity of inputs and benefits, jointly defined goals and parameters, compatible strategies and visions and complimentary skills

29
Q

What are the four stages of internationalization according to the Uppsala process

A

Severing connections domestically, penetration through exports, specialize foreign offers and lastly invest directly into foreign facilities

30
Q

What is the implications of the Uppsala process

A

That internationalization is effort full and takes time

31
Q

What are borne global firms

A

Firms that plan on entering firing markets at inception

32
Q

What is the main criteria for choosing a new market for traditional firms

A

Psychic distance, they choose a safe bet one at a time

33
Q

Explain the ethnocentric approach to internatlizayion

A

Focus in home market first and foremost

34
Q

Explain the polycentric approach to international marketing

A

Treat each market as its own home market and let each section adapt strongly to its surroundings

35
Q

Which is the regional approach to international marketing

A

When you group countries together and have one department handle a separate region.

36
Q

Explain tue geocentric approach to international marketing

A

Treat all countries the same and instead target global segments such as high income earners

37
Q

Which two international marketing approaches are localized and wich are standardized

A

Ethnocentric and polycentric are localized as they adapt to each country while regional and geocentric are standardized

38
Q

What characterizes national organizations

A

Limited to one nation

39
Q

What characterizes international organizations

A

Having a main market and starting to send the same marketing mix elsewhere too. They use the ethnocentric approach

40
Q

What characterizes multinational organizations

A

A portfolio of businesses adapted to their own countries. They use the polycentric aproach

41
Q

What are global organization

A

Organizations that use a standard marketing mix to a global audience. Uses the geocentric aproach

42
Q

What are transnational organizations

A

A complex federation of different local entities that form different global marketing mixes

43
Q

What us a multi domestic competative strategy

A

Polycentric aproach, have decentralized departments make most decisions and is their own profit center

44
Q

Explain the global competitive strategy

A

Consolidate local firms and standardize for efficiency, comparative leverage and substantial cost reduction, geocentric. Coordination and communication might be more prone to error

45
Q

What is selective contestebility

A

To choose the markets in which you can compete, essential for a global competitive strategy as they don’t adapt

46
Q

Explain global capability in relation to a global competitive strategy

A

The organizations ability ti leverage all its international parts in the competition

47
Q

Define i international development as a market growth strategy

A

Make it to more markets to sell your existing products to more people. This is called market development strategy

48
Q

What qualities are required of an international marketing manager

A

Have knowledge to the extent that their actions correspond with company goals and policy, be a skilled marketer and have high cultural intelligence

Marketing (17 decks)

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