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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
Exchange controls
When there is a shortage of foreign exchange in the country and government restricts spending in foreign currency
26
Local-content laws
When countries require a portion of any product sold within the country to have local content (locally made parts)
27
Import restrictions
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
tax controls
Taxes must be classified as a political risk when used as a means of controlling foreign investments
29
Price controls
Essential products that command considerable public interest such as pharmaceuticals, food, gasoline etc. subjected to price controls
30
Labour problems
In many countries labour unions have strong government support that they use to obtain special concessions from business.
31
Political sanctions
Nations can boycott others stopping all trade
32
Strategies to reduce political vulnerability
joint ventures, expanding investment base, licensing/franchising, planned domestication, political bargaining, political payoffs
33
Reasons government encourages foreign investment
Accelerate development of economy, create local employment, transfer tech, generate export sales, stimulate growth and development of local industry, conserve foreign exchange
34
Marketing perspective
Customization is always best
35
Criteria for standardization
Tractability, flexibility, global regularity
36
Planning
Systemized way of relating to the future, manage impact of external factors
37
Corporate planning
Long term, generalized goals for enterprise as a whole
38
Strategic planning
Conducted at highest levels of management
39
Tactical planning
Conducted locally; addresses marketing and advertising. Actions and allocation of resources to implement strategic planning goals in specific markets.
40
First time foreign marketer
determine products to develop and in which markets, identify level of resource commitment
41
Already committed companies
Allocate effort and resources among countries and products, choose new market segments and products to develop and old ones to abandon
42
International planning process
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
Preliminary analysis and screening
Evaluate potential of foreign markets, analyze environment in which company plans to operate, company and country needs must be matched
44
45
Developing marketing plan
Occurs once targ
45
Defining target markets and adapting marketing mix
Potential target markets identified and analyzed further.
45
Implementation and control
Planning process continues after implementation. Provides basis for viewing all country markets and their interrelationships as an integrated global unit
45
46
Four broad modes of foreign market entry
Exporting Contractual agreements Strategic alliances Direct foreign investment
47
Direct exporting
Company sells to customer in another country
48
49
Indirect exporting
Company sells to an importer or distributor in another country
50
Direct sales
may involve establishing office in foreign country, used for high-ticket industrial products
51
Contractual agreements
Long-term non equity associations between companies. Licensing and Franchising.
52
Licensing
Rights granted to foreign company. Patent, trademark technological processes etc.
53
Franchising
Skill centralization and operational decentralization. Franchiser's products, systems, management services. Franchisee's market knowledge, capital, personal involvement.
54
Strategic international alliances
Relationship established by two or more companies. Cooperate out of mutual need, share risk in achieving shared goal.
55
International joint ventures
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
Consortia
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
Direct foreign investment
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
Three alternatives for global organizations
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
Decentralized organizations
Delegate responsibilities to regional managers
59
Centralized organization
experts available at one location, ability to exercise high degree of control
59
Locus of decision
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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