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Summary book International Business
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Summary book International Business
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International MarketingChapter 1
International marketing:
Activities and processes for creating, communicating, delivering and exchanging offers that
have value for others. Most important = offer products with value
You have to satisfy the needs and wants of customers
The difference between regular and international marketing: scope of activities (huge), focus on
resources outside the regular home country, and competencies and global opportunities and threats.
Reviews of marketing, terms you need to know:
Value chain: the set of activities and processes to define the decisions at every stage (all
steps taken to expand to another country)
Value proposition: unique set of benefits and values for a customer in that products
How to maximize your value as a company worldwide (worldwide success):
Offer improved bundles of benefits (at lower prices)
Design new channels for distribution
Create better communication strategies (aimed at local market)
Finding ways to cut costs and prices
o Cost efficiency
o Low wage labour
Competitive advantage, if a company is able to offer a combination of superior products, the right
kind of distribution, promotional benefits and lower prices than the competition.
Differences in global marketing:
Preferences of customers
Channels of distribution Global marketing strategy
Communication media
Management orientation Standardization adaption
Orientations:
, Ethnocentric orientation
o Superior to the rest of the world
o National arrogance
o Products that are successful in the home country are successful everywhere
o Opportunities outside the home country should better be ignored (we don’t need
others)
Domestic company
Polycentric orientation
o Each country in which a does business is unique
o Each subsidiary should develop its own unique business and marketing strategies to
succeed
Multinational company
Regio centric orientation
o Relevance is a geographical unit within that country and the autonomy to work
within that region
o Management goals is to develop an integrated regional strategy
Geocentric orientation
o Company will view the world as one huge potential market
o Striving to develop integrated global strategies
o Serve the world from one or serval countries
Transnational company
Chapter 2
, = Changes in the world economy
The major changes nowadays:
Capital movements replacing trades
o Foreign exchange transactions
o $5,1 trillion a day
Production has ‘uncoupled’ from employment
o Increasement in production and less people working
Individual country economies the world economy dominated the scene
The struggle between socialism and capitalism is over
The growth of e-commerce
Four types of economic systems:
1. Consumers will decide what goods & services should be produced: market capitalism
a. How much
b. What
i. Europe
ii. North America
2. We know what consumers need: centrally planned socialism
a. State has broad power
b. Make top-down decisions about what is produced
c. The government ownership of resources, industries and enterprises
d. Consumers can spend their money on whatever is available
i. China
ii. Soviet Union
iii. India
3. Command and market orientation are practiced simultaneously: centrally planned capitalism
a. Role of the government varies from private to state resources ownership
i. Socialist countries
ii. Sweden
iii. Norway
4. Market allocation policies within an environment of state ownership: market socialism
a. Voter oriented (democracy but government oriented)
b. Freedom within the market system
i. Germany
ii. France
iii. Italy
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