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ROMA > MKT 330- Exam 1 (extra: ch. 4-6) > Flashcards

MKT 330- Exam 1 (extra: ch. 4-6) Flashcards

1
Q
  1. Selecting a research problem
  2. Developing the approach to be taken
  3. Selecting research strategy and designing the research
  4. Identifying the participants and planning the ethical process
  5. Completing a pilot study
  6. Carrying out the fieldwork
  7. Analyzing the data
  8. Preparing the report and presentation
A

the role of marketing research and opportunity analysis: the process

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2
Q

Around 3⁄4 of marketing research agencies’ revenue is derived from online research. Research has three major roles:
- cross-cultural research
- foreign research
- multi-country research

A

what big data is telling us

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3
Q

across a nation or culture groups

A

cross-cultural research

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4
Q

in another country than the one of the commissioning company

A

foreign research

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5
Q

conducted in all represented countries

A

multi-country research

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6
Q

problems in using secondary data:
- availability
- accessibility
- accuracy
- scarcity
- timeliness of collection

A

the market profile analysis

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7
Q

– attractive profit/growth opportunities
– ability to easily modify products for export markets
– public policy programmes for export promotion
– foreign country regulations
– possession of unique products
– economies from additional orders

A

Proactive stimuli

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8
Q

– presence of export minded manager
– opportunity to better utilize management talent and skills
– management beliefs in value of exporting

A

Managerial elements

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9
Q

– adverse domestic market conditions
– opportunity to reduce inventories
– availability of production capacity
– favorable currency movements
– opportunity to increase the number of country markets and reduce market-related risk
– unsolicited orders from overseas customers

A

Reactive stimuli

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10
Q
  • exporting
  • international niche marketing
  • domestically delivered or developed niche services
  • direct marketing including e-commerce
  • participation in the international supply chain
A

SME international marketing strategies

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11
Q

is concerned with selling abroad domestically developed and produced goods and services.

A

Exporting

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12
Q

is concerned with marketing a differentiated product or service overseas, usually to a single segment, using the full range of market entry and marketing mix options.

A

International niche marketing

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13
Q

can be marketed or delivered internationally to potential visitors.

A

Domestically delivered or developed niche services

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14
Q

including e-commerce allows firms to market products and services globally from a domestic location.

A

Direct marketing

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15
Q

of an MNE can lead to SMEs piggybacking on the MNE’s international development.

A

Participation in the international supply chain

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16
Q
  • it avoids the costs of establishing local manufacturing operations
  • it helps the firm achieve experience curve and scale economies
  • low risk
A

exporting is attractive

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17
Q
  • there may be lower-cost manufacturing locations
  • high transport costs and tariffs can make it uneconomical
  • agents in a foreign country may not act in exporter’s best interest
A

exporting is unattractive

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18
Q

targets a large share of a smaller market.

  • Limited company resources
  • Knowledge of the market
  • More effective and efficient
A

Niche marketing

19
Q

For the international niche player to be successful, the product or service must…

A
  • be distinctive (highly differentiated)
  • be recognized by consumers and other
    participants in the international supply chain
  • have clear positioning
20
Q
  • opportunities for learning from MNE (multinational enterprise)
  • security through reliable and predictable
    ordering
  • able to focus on production and technical issues
A

supply chain internationalization: Advantages for SMEs

21
Q
  • need for dependence on one/two major customers
  • internationalization driven by demands of MNE
  • continual pressure to improve product and operations
  • weakening of external marketing
A

supply chain internationalization: Disadvantages for SMEs

22
Q

the nature of SME international marketing strategies

A
  • relationships
  • born global/INVs
  • concentration vs. expansion
23
Q

the internationalization process involves developing business relationships in other countries through:

A
  • establishing relationships
  • developing relationships
  • connecting networks
24
Q

Establishing relationships in country networks that are new to the firm: ____

A

extension

25
Q

Developing relationships in those networks: ____

A

penetration

26
Q

Connecting networks in different countries:_____

A

integration

27
Q

have a managerial vision from the start of their business, have a clear niche focus, are highly innovative and active in their strategic international development from inception.

A

Born globals/INVs (international new ventures)

28
Q

______ managers view the world as their marketplace from the outset
- management sees foreign markets as adjuncts to the domestic market and hence focuses on regional markets

A

born global; INVs’

29
Q

a ___ ___will own or control subsidiaries and engage in value-added business alliances and networks in each continent and each major country … it will sell its goods and services in each of the main markets of the world

A

global firm

30
Q
  • cheaper labour
  • better quality
  • better technology
  • local access
  • economies of scale
  • lower taxes
  • lower logistics costs
  • consistent supply
A

benefits of global sourcing

31
Q
  • ethnocentric
  • polycentric
  • regiocentric
  • geocentric
A

alternative strategic responses

32
Q

competitive pressures in the global marketplace (2)

A
  1. pressures for cost reductions (force the firm to lower unit costs)
  2. pressures to be locally responsive (require the firm to adapt its product to meet local demands)
33
Q
  1. With homogenised demand in global market segments for commodity type products that fill universal needs
  2. When major competitors are globally active or based in low-cost locations
  3. Where consumers are powerful and face low switching costs
  4. Where there is persistent excess capacity
A

Pressures for cost reductions are greatest

34
Q
  1. Differences in consumer tastes and preferences
  2. Differences in traditional practices and infrastructure
  3. Value of personalized customer service
  4. Differences in distribution channels
  5. Host government demands
A

Pressures for local responsiveness arise from

35
Q

increase profitability and profit growth by reaping the cost reductions from economies of scale, learning effects, and location economies

  • goal is to pursue a low-cost strategy on a global scale Global
A

global strategy

36
Q
  • There are strong pressures for cost reductions and demands for local responsiveness are low
  • Company has the management capacity/capability to manage a global organization
A

when to use a global approach

37
Q

increase profitability by customizing goods or services so that they match tastes and preferences in different national markets

A

Multi-domestic strategy

38
Q
  • Customers continue to demand locally differentiated products
  • cost pressures are not too intense
  • industry standards remain diverse
  • being an insider remains critically important
  • global organizations are difficult to manage
  • management myopia (self reference)
A

when to use a multi-domestic approach

39
Q

different strategies are formulated for each region.

This strategy makes sense when:
- Pressures for low costs and local responsiveness are relatively low
- As a response to regional trading blocs
- Regions are effectively different

A

Regional strategy

40
Q
  • More manageable compromise between the extremes of global standardization and multi-domestic strategies.
  • convenience of creating manageable teams
  • regional trading blocs tend to favor own MNEs
A

when to use a regional approach

41
Q

– How marketing strategy for one region is differentiated from others
– Quick response to threats or opportunities that emerge in the region

A

Key to effective regional strategies is

42
Q

tries to simultaneously achieve low costs through location economies, economies of scale, and learning effects

  • firms differentiate products across geographic markets to account for local differences and foster a multidirectional flow of skills between different subsidiaries in the firm’s global network of operations
A

Transnational strategy

43
Q

this strategy makes sense when both cost pressures and pressures for local responsiveness are intense

these companies aim to build 3 strategic capabilities:
1. global scale efficiency and competitiveness
2. national level responsiveness and flexibility
3. cross-market capacity to leverage learning on a world wide basis

A

transnational strategies

ROMA (9 decks)

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