Lec 2

Question 1

The Theory of Internationalisation?

Answer 1

Has a five step theory that outlines a firms position when competing on an international level…

Step1: Partially Interested Firm – Begins enquiries & research
Step2: Exploring Firm – Tests its marketing
Step3: Experimental Exporter – Trial marketing
Step4: Experienced Small Exporter
Step5: Experienced Large Exporter

Question 2

Born Global firms?

Answer 2

are an exception to these steps – but they face very special

challenges of their own because once the switch to the internet, on they are Global

Question 3

KNOW HOW TO DRAW AND EXPLAIN THE STRATEGIC PLANNING AND MARKET SCHEMATIC MODELS

Answer 3

DO IT NOW

Question 4

What are the 6 most important planning tools for the course?

Answer 4

1. Which Country - GE/Mckinsey’ Matrix
   • Matrix between Business Strengths & Industry Attractiveness
2. Market Segmentation and Target Market(s) Evaluation:
   • Geographic, Demographic, Psychographic, Behaviouristics
3. Competitive Advantage Evaluation:
   • Size, Safety, Economy, Warranty, Price
4. Product/Service Needs:
   • In almost every case your product will need to adapt in some way for the overseas market
   • What specific features and/or benefits do you need to offer to your market
5. Risk Management Evaluation
   • Identify what can go wrong, where, when and causes
   • Identify, Analyse, Evaluate, Manage Risk, Review previous steps
6. Management Experience/Expertise
   • What specific skills and experience sets does your management team need to be successful in the export project