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Intrnl Marketing
Final
| Question | Answer |
|---|---|
| Marketing that is focused solely on domestic consumers and on home-country environment | Domestic Marketing |
| Involvement in international marketing ltd to exporting; although the firm seeks international clients, it considers international mkt an extension of domestic mkt and doesn't give special consideration | Export Marketing |
| Creating, producing, distributing, promoting, and pricing products for international markets; req. focus on international consumers in a certain country(ies) | International Marketing |
| Marketing in many countries w/o coordinating | Multinational Marketing |
| International marketing activities that don't have a country/region focus and are due to emergence of global consumer segments and efficient global allocation of company talent and resources | Global Marketing |
| Have great potential to international firms; attractiveness is in their rate of econ. growth (7%/year in past 20 years) and include: China, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Thailand, Israel, South Africa, Poland, Russia... | Emerging Markets |
| Traits include: high political stability, sound currency, low inflation, privatization policies that reduce deficit, sound corporate law, high savings rate, policies that facilitate repatriation of K, and people w/ integrity, strong work ethic, & respect. | Emerging Markets |
| Share all traits of emerging markets and present most potential b/c they have large populations, and set a pace for economy in the region. | BEMs (Big Emerging Markets) |
| Include: protection of markets w/ excess productive capacity, employment protection, infant industry arguments, natural resources conservation, protection of consumers, national defense interests. | Arguments for Protectionism |
| Includes: Bilateral Agreements, Free Trade agreements (NAFTA), Customs Unions, Common Markets, Monetary Unions, Political Unions | Levels of Economic and Political Integration |
| Includes: Power Distance, Uncertainty Avoidance, Masculinity, Individualism vs Collectivism | Hofstede's Dimensions |
| One's conscious and unconscious ref. to their own national culture and its values in process of making decisions in host country | Self-Reference Criterion |
| Tests that are performed in emerging markets and include: brand name generation and testing, product testing (degree tow hich product conforms to local taste), and product packaging design studies | International Product Research |
| At this level, the plan allocates resources and est. objectives for whole enterprise, worldwide. Has LT focus involving highest levels of mgmt, and planning involves target mkt selection decisions | Corporate Level International Marketing Strategy |
| At this level, the plan allocates funds to each business unit based on goals and company coordinates all local operations. Also, company uses analysis tools to decide which brands to start and invest in. | Division Level International Marketing Strategy |
| At this level, company develops plan within each country and decisions are made on which segments to target | Business Unit Level International Marketing Strategy |
| At this level, a marketing plan is developed for achieving objectives | Product Level International Marketing Strategy |
| Includes: Measurability, Substantiality, Stability over Time, Accessibility, Actionability, Differential Response | Requirements for effective international segmentation |
| Company sells its products to intermediaries in home country who sell product overseas | Indirect Exporting |
| Firm handles its own exports, usu w/ in-house dept. | Direct Exporting |
| Offers more control than exporting and more flexibilty and rapid international expansion and high brand-awareness. Doesn't req. knowledge of local mkt. Person (____) offers know-how, shares technology, and possibly brand name | Licensing |
| Licensing's mode for the service industry. Business know-how and brand name and right to use related trademarks in return for royalties | Franchising |
| Corporate entity created w/ two companies that share equity, K, and L. | Joint Venture |
| For companies that can afford the costs, are willing to commit in LT, want total control. A totally new company is called Greenfielding or it can use A & M's. | Wholly Owned Subsidiary |
| In this stage of the IPLC, developed countries engage in domestic production and market product to industrialized countries. | Introduction and Growth |
| At this stage of the IPLC, there is a slowdown in sales, product is adopted by most target consumers, and there is a leveling/decline in profit b/c of intense price competition | Maturity |
| In this stage of the IPLC, products are marketing in developed countries, b/c these consumers... | Can afford the high prices |
| At the end of the growth stage, the product is... | Standardized |
| This is the longest stage in the IPLC... | Maturity |
| A TV set, stereo equipment, and video cameras are examples of products in the... | Maturity stage |
| During this stage of the IPLC, products are rapidly losing ground to new technologies, there is a decrease in sales and profits, and companies consider a presence in developing countries now. | Decline |
| The main benefit of turning to developing countries during the Decline stage of the IPLC is to: | Extend the product life cycle |
| ex: Unilever makes frozen foods, ice cream, margarine, cheese, fruit drinks, tea, and deodorants and detergents. This describes... | The width (total # of product lines the company offers) |
| Unilever's ice cream includes: Ben and Jerry, Klondike Bars..and its margarine includes: Flora Spreads, Country Crock, Stork, etc...The total number of product lines that the company offers is refers to... | Width |
| Used to describe all of the brands the company offers or # of different offerings in the same product category | Product Line-depth |
| The steps include: Generating new product ideas, screening new ideas, developing/evaluating concepts, performing a product business analysis, design and develop the product, test market it, launch it internationally... | The New product development process |
| This mode of transportation has the highest flexibility, high cost, high speed.. | Truck |
| This mode of transportation has the highest flexibility, highest cost, and highest speed... | Air |
| This mode of transportation has medium flexibility, medium cost, and a lower speed... | Rail |
| This mode of transportation has a low flexibility, lowest cost, and low speed... | Pipeline |
| This mode of transportation has a low flexibility, low cost, and low speed... | Water |
| Automobiles and perishables would be shipped by... | Truck |
| Coal, gas, forestry products, grains, and automobiles would be shipped by... | Rail or Water |
| Jewelry, electronics, and other expensive and low-volume products would be shipped by... | Air |
| Grains, gas, forestry products, cement and fertilizers would be shipped by... | Water |
| This is also called a gray market | Parallel Imports |
| Used to refer to products purchased in a low-price market and diverted to another distribution system that is not authorized by the manufacturer | Parallel Imports |
| For Parallel Imports, a low-price market is one where: | a)products can be purchased b/c company is in a competitive situation and must lower price b) local taxes don't significantly increase the price c)Most often, companies are just ridding of excess inventory |
| This entity sells brand name and designer merchandise below regular retail | Off-price retailers |
| Food retailers include: Su., Ss, WC, CS | Supermarkets, Superstores, Wholesale clubs, Convenience stores |
| Includes: advertising, international sales force management, international sales promotion, PR, and Publicity | International Promotional Mix |
| The sender (international sponsor) ENCODES the message into a certain channel to the target market and the receiver DECODES the message | International Communication Process |
| Nonpersonal communication includes: | Print, broadcast, and interactive |
| Personal communication includes: | Salesperson, telemarketer, or trade show |
| All the potential interference in the communication process | Noise |
| Information regarding the effectiveness of a company's message | Feedback |
| Process whereby advertiser puts message into words and images aimed at a target | Encoding |
| Process whereby target receives message and translates it into meaningful information | Decoding |
| Availability, Reliability, Restrictions are all | Challenges of Media Infrastructure |
| This challenge refers to the extent to which media are available to communicate w/ consumers | Availability |
| This challenge refers to the extent to which the existing media will reliably reach the target in intended format in intended time frame | Reliability |
| This challenge refers to legal or self-imposed restrictions on types and #s of ads aired | Other Media Restrictions |
| These include: limiting # and types of ads, cultural differences, clustered ads, and media scheduling (lag times) | Other Media Restrictions |
| Includes: posters on kiosks and fences, sides of private homes, plastic bags, outdoor umbrellas, and billboard | The formats, features and trends around the world |
| This mode of advertising is relatively inexpensive and valuable | Kiosks |
| Advertising on fences and kiosks appears way less in _____ than in ______ | US;World |
| These are placed in high traffic areas and are a source of revenue for homeowners and owners of commercial buildings | Adv on sides of homes |
| The process of globalizing a company's promotional strategy so that it is uniform | Standardization of advertising strategy |
| qAct of changing a company's promotional mix to each country/market | Adaptation of the advertising strategy |
| Barriers to Standardization include: | Communication infrastructure (availability), literacy level, legal restrictions, different purchase motivations, attitudes towards country of origin, and standardizing language. |
| This budgeting method identifies goals in terms of reach, awareness...conducts research to determine the cost of this, and allocates a sum to the expenditure | Objective and Task Method |
| This budgeting method is popular w/ multinational corporations | Objective and Task Method |
| This budgeting method determines total budget allocated to adv based on past/projected sales | % of sales method |
| This budgeting method bases adv budget on past expenditures, putting more weight on more recent ones | Historical Method |
| This budgeting method is not recommended for a firm that has an unstable, economic, political, or competitive environment | Historical Method |
| This budgeting method uses competitors' level of adv as a benchmark | Competitive Parity |
| This budgeting method is used by 1/3 of transnational companies | Executive-Judgment Method |
Created by:
N.Mokris
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