International Marketing - Answer -The process of planning and conducting transactions
across national borders to create exchanges that satisfy the objectives of individuals
and organizations.
Important parts of International Marketing definition - Answer --Cross border
transactions
-Satisfaction of consumer needs
-Exchanges between transacting parties
multi domestic marketing strategy - Answer -a multinational firm's strategy of offering as
many different product variations, brand names, and advertising programs as countries
in which it does business
-NO HEAD OFFICE COORDINATION BETWEEN DIFFERENT COUNTRIES
Global Marketing - Answer -marketing activities coordinated and integrated across
multiple country markets
Integration in global marketing - Answer -Involves product standardization, identical
brand names, consistent packaging and a similar advertising message
Ted levitt's homogenous markets - Answer --Argued in 1983 that markets were
becoming more homogenous because of communication and technology and therefore
there was more opportunity for standardized products
-work gave way to the rise of global marketing
Why globalize marketing? - Answer --Take advantage of opp for growth
-Survival (if you do not you will lose market share to foreign rivals)
-
Global marketers are concerned with? - Answer --What countries do we sell our
products?
-Enter foreign markets through exporting, foreign direct investment or strategic alliance?
-How to price and distrubute products in foreign markets?
-What elements of marketing can we standarize
, -How to coordinate activities across markets
Similarities between GLOBAL and LOCAL marketing - Answer --Focus on exchange of
value
-Need to provide customer satisfaction
Global marketing assumes.... - Answer -That customers around the world CAN be
clumped into homogenous groups
use the terms global and international as the same while still realizing they are..... -
Answer -different
glocal marketing - Answer -Think global, act local. Standard platform adapted to local
requirements.
-by late 1980's this became trend
Globalization - Answer --trend towards greater interdependence among national
economies
Examples: 9/11, oil price shock, covid19, 2009 sub prime mortage, asian financial crisis,
etc
Two components of globalization - Answer -the globalization of markets and the
globalization of production
Drivers of Globalization: Market Factors - Answer --global consumers that need the
same product in multiple countries
-Globalization of distribution companies
-Transferability of marketing ideas to multiple countries
-Cross border retail alliances
Drivers of Globalization: Cost Factors - Answer --Avoiding cost inefficiencies and
duplicated efforts
-Economies of scale from longer production runs
-Economies of scope (spread cost over multiple product lines)
-Outsourcing
Drivers of Globalization: Environmental Factors - Answer --Reduced governmental
barriers, rapid technological evolution
-Succesive rounds of multilateral trade agreements
-Internet and other comm tech
-Changes in governmental policies
Drivers of globalization: Competitive Factors - Answer --Firms need to enter new
markets to match the moves of competitors
-Need to enter new markets to follow major customers
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
√ Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, Bancontact of creditcard voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper millyphilip. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor $10.99. Je zit daarna nergens aan vast.