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Nipissing U > Quiz 1 International MKTG > Flashcards

Quiz 1 International MKTG Flashcards

1
Q

Four trends affecting global business

A

growth of WTO and open trade agreements, developing countries moving toward free trade, the internet, a mandate to manage the global environment for the future.

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2
Q

International marketing

A

Plan, price, promote, direct flow of goods and services for profit in more than one nation.

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3
Q

Firm characteristics (controllable)

A

Product, place, price, promotion, research

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4
Q

Domestic environment characteristics (uncontrollable)

A

political/legal forces, competitive structure, economic climate

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5
Q

Foreign environment characteristics (uncontrollable)

A

political/legal forces, economic forces, competitive forces, level of technology, structure of distribution, geography/infrastructure, culture

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6
Q

Duty of international marketers

A

Interpret influence of each uncontrollable element on the market. Adjust to cultures to which they are not attuned. Be aware of own frame of reference.

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7
Q

Self-reference criterion

A

Unconscious reference to own cultural values, experiences, knowledge. Not useful for decision making.

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8
Q

Ethnocentrism

A

Thinking one’s own culture is best.

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9
Q

Characteristics of companies that quickly internationalize

A

high technology and/or marketing-based resources, smaller home markets and larger production capacity, internationally networked managers

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10
Q

Stages of international marketing involvement

A
  1. no direct foreign marketing
  2. infrequent foreign marketing
  3. regular foreign marketing
  4. multidomestic or international marketing
  5. global marketing
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11
Q

Culture

A

Set fo values, beliefs, attitudes that are shared by a group of individuals and passed down generationally.

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12
Q

Origins of culture

A

geography, history, technology, political economy, social institutions (family, religion, media, government, corporations).

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13
Q

Cultural interpretations are impacted by:

A

position of men and women in society, role of family, social class, group behaviour, age groups, decency and civility

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14
Q

Five elements of culture

A

values, beliefs, rituals, symbols, thought processes

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15
Q

Ritual

A

pattern of behaviour and interaction that is learned and repeated

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16
Q

The paradox of cultural change

A

culture is dynamic in nature and also resists change

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17
Q

What causes cultural change

A

war, natural disasters, adjusting to historical changes

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18
Q

Cultural borrowing

A

Learn from other cultures to solve societal problems

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19
Q

Sovereignty

A

Powers exercised by state in relation to other countries. Supreme powers exercised over country’s own members.

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20
Q

Characteristics of a sovereign state

A

-enjoys full legal equality with other states
-independent and free from external control
-governs own territory
-selects own political, economic and social systems
-has power to enter into agreements with other nations

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21
Q

Monarchy/dictatorship

A

rule by one

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22
Q

Aristocracy/oligarchy

A

rule by few

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23
Q

Democracy

A

rule by many

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24
Q

Nationalism

A

Intense feeling of national pride and unity

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25
Q

Exchange controls

A

When there is a shortage of foreign exchange in the country and government restricts spending in foreign currency

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26
Q

Local-content laws

A

When countries require a portion of any product sold within the country to have local content (locally made parts)

27
Q

Import restrictions

A

Selective restrictions on the import of consumer products, raw materials, machines, and spare parts to force foreign industry to purchase more supplies in host country

28
Q

tax controls

A

Taxes must be classified as a political risk when used as a means of controlling foreign investments

29
Q

Price controls

A

Essential products that command considerable public interest such as pharmaceuticals, food, gasoline etc. subjected to price controls

30
Q

Labour problems

A

In many countries labour unions have strong government support that they use to obtain special concessions from business.

31
Q

Political sanctions

A

Nations can boycott others stopping all trade

32
Q

Strategies to reduce political vulnerability

A

joint ventures, expanding investment base, licensing/franchising, planned domestication, political bargaining, political payoffs

33
Q

Reasons government encourages foreign investment

A

Accelerate development of economy, create local employment, transfer tech, generate export sales, stimulate growth and development of local industry, conserve foreign exchange

34
Q

Marketing perspective

A

Customization is always best

35
Q

Criteria for standardization

A

Tractability, flexibility, global regularity

36
Q

Planning

A

Systemized way of relating to the future, manage impact of external factors

37
Q

Corporate planning

A

Long term, generalized goals for enterprise as a whole

38
Q

Strategic planning

A

Conducted at highest levels of management

39
Q

Tactical planning

A

Conducted locally; addresses marketing and advertising. Actions and allocation of resources to implement strategic planning goals in specific markets.

40
Q

First time foreign marketer

A

determine products to develop and in which markets, identify level of resource commitment

41
Q

Already committed companies

A

Allocate effort and resources among countries and products, choose new market segments and products to develop and old ones to abandon

42
Q

International planning process

A

Phase 1: preliminary analyzing and screening (matching company and country needs)
Phase 2: Defining market segments and adapting the marketing mix
Phase 3: Developing the marketing plan
Phase 4: implementing and controlling

43
Q

Preliminary analysis and screening

A

Evaluate potential of foreign markets, analyze environment in which company plans to operate, company and country needs must be matched

44
Q
A
45
Q

Developing marketing plan

A

Occurs once targ

45
Q

Defining target markets and adapting marketing mix

A

Potential target markets identified and analyzed further.

45
Q

Implementation and control

A

Planning process continues after implementation. Provides basis for viewing all country markets and their interrelationships as an integrated global unit

45
Q
A
46
Q

Four broad modes of foreign market entry

A

Exporting
Contractual agreements
Strategic alliances
Direct foreign investment

47
Q

Direct exporting

A

Company sells to customer in another country

48
Q
A
49
Q

Indirect exporting

A

Company sells to an importer or distributor in another country

50
Q

Direct sales

A

may involve establishing office in foreign country, used for high-ticket industrial products

51
Q

Contractual agreements

A

Long-term non equity associations between companies. Licensing and Franchising.

52
Q

Licensing

A

Rights granted to foreign company. Patent, trademark technological processes etc.

53
Q

Franchising

A

Skill centralization and operational decentralization. Franchiser’s products, systems, management services. Franchisee’s market knowledge, capital, personal involvement.

54
Q

Strategic international alliances

A

Relationship established by two or more companies. Cooperate out of mutual need, share risk in achieving shared goal.

55
Q

International joint ventures

A

Two or more companies create a separate legal entity. Equity positions held by both partners and acknowledge intent by partners to share in management.

56
Q

Consortia

A

Developed to pool financial and managerial resources and lessen risk. Involve large number of participants and operate in country/market in which no participants are active

57
Q

Direct foreign investment

A

Most risky form of international market entry. Capitalize on low-cost labour, gain access to tech and materials, gain market entry fast, avoid high import taxes

58
Q

Three alternatives for global organizations

A
  1. global product divisions
  2. geographical divisions
  3. A matrix organization consisting of either of these with centralized sales & marketing run by centralized staff
59
Q

Decentralized organizations

A

Delegate responsibilities to regional managers

59
Q

Centralized organization

A

experts available at one location, ability to exercise high degree of control

59
Q

Locus of decision

A

where decisions will be made
who will make the decision
which method will be used to make decision

Nipissing U (15 decks)

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