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Marketing 330 > Exam 2 - Chapter 9 > Flashcards

Exam 2 - Chapter 9 Flashcards

1
Q

International Marketing

A

developing and performing marketing activities across national boundaries

ex: growth opportunities; internet

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2
Q

Born Globals

A

firms that are international from their inception

ex: internet based companies

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3
Q

6 Environmental Forces in Global Markets

A

a. sociocultural
b. economic
c. political/legal/regulatory
d. ethical/social responsibility
e. competitive
f. technological

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4
Q

7 Sociocultural Forces in Global Markets

A 
family
religion
education
health care
recreation
language
country of origin
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5
Q

Cultural Similarity Rule

A

the closer your culture is to the culture of the country you want to export to , the faster the product is generally accepted

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6
Q

4 Economic Forces in Global Markets

A

a. international trade systems
b. economic stability/instability
c. trade barriers
d. economic disparities between nations

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7
Q

Gross Domestic Product (GDP)

A

the market value of a nation’s total output of goods and services for a given period

an overall measure of economic standing

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8
Q

Import Taiff

A

a duty (tax) levied by a nation on goods bought outside its borders and brought into the country

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9
Q

Quota

A

a limit on the amount of goods an importing country will accept for certain product categories in a specific period of time

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10
Q

Embargo

A

a government’s suspension of trade in a particular product or with a given country

can inhibit trade

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11
Q

Balance of Trade

A

the difference in value between a nation’s exports and its imports

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12
Q

Ethical/Social Responsibility Forces

A

a. accepted business practices vary from country to country
b. bribery
c. intellectual property protection

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13
Q

Competitive Forces

A

staple of global marketplace

firms define their competitors when they establish target markets on a global basis

each country has unique competitive aspects

technology and interconnectedness are key factors

ex: global consumer

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14
Q

Technological Forces

A

make international marketing easier, faster, and more affordable

vary by country

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15
Q

Regional Trade Alliances

A

create opportunities and impose constraints on international trade

ex: EU or NAFTA

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16
Q

European Union (EU)

A

an alliance that promotes trade among its member countries in Europe

17
Q

World Trade Organization

A

an entity that promotes free trade among member nations by eliminating trade barriers and educating individuals, companies, and governments about trade rules around the world (founded in 1995)

18
Q

Dumping

A

selling products at unfairly low prices (below cost)

19
Q

Modes of Entry into International Markets

A

a. Stage 1 (no regular export activities – focus is domestic)
b. Stage 2 (Export via independent representatives – agents)
c. Stage 3 (establishment of one or more sales subsidiaries internationally)
d. Stage 4 (establishment of international production/ manufacturing facilities)

20
Q

Trading Company

A

a company that links buyers and sellers in different countries

does not own assets related to manufacturing

acts like a wholesaler - purchases products in one country for a low price and sells them to buyers in another country

21
Q

Licensing

A

an alternative to direct investment that requires a licensee to pay commissions or royalties on sales or supplies used in manufacturing

ex: publishing and printing and distributing Harry Potter books

22
Q

Franchising

A

a form of licensing in which a franchiser, in exchange for a financial commitment, grants a franchisee the right to market its precuts in accordance with the franchiser’s standards

ex: opening a Jimmy Johns or a Subway

23
Q

Benefits of International Franchising

A

a. minimizes risks
b. smaller initial capital investment
c. fairly consistent revenue stream
d. retains control of name;global penetration
e. ensure standard of conduct

24
Q

Outsourcing

A

the practice of contracting noncore operations with an organization that specializes in that operation anywhere in the world

ex: Apple parts

25
Q

Offshoring

A

the practice of moving a business process that was done domestically at the local factory to a foreign country (either a wholly owned subsidiary or a subcontractor)

26
Q

Offshore Outsourcing

A

the practice of contracting with an organization to perform some or all business functions in a country other than the country in which the product or service will be sold

27
Q

Joint Venture

A

a partnership between a domestic firm and a foreign firm or government

ex: Aramco – began as joint venture with Standard Oil and Saudi Gov.

28
Q

Strategic Alliances

A

a parnership that is formed to create a competitive advantage on a worldwide basis

ex: airlines working together

29
Q

Direct Ownership

A

a situation in which a company owns subsidiaries or other facilities overseas

ex: Target’s large losses

30
Q

Multination Enterprise

Multination Corporation or MNC

A

a firm that has operations or subsidiaries in many countries

ex: BP or Walmart

31
Q

Export Departments

A

a subunit of the marketing department focusing on international development/ maketing

32
Q

International Divisions

A

centralizes all of the responsibility and communication related to international operations

33
Q

Internationally Integrated Structures (global)

A

firms with internationally integrated structures are most likely to engage in direct ownership internationally

34
Q

Product Division Structure

A

the form used by most multinational enterprises

good for firms that are diversified yet driven by domestic operations

each unit is self-contained-product marketed/branded by itself

ex: Avon

35
Q

Geographic Area Structure

A

good for firms with low diversification, divides the world into logistical areas based on operations and customers’ characteristics

ex: Kimberly Clark

36
Q

Global Matrix Structure

A

designed to achieve global integration, cost, efficiencies, knowledge transfers, and local responsiveness

**uncommon – difficult to manage

37
Q

Customization

A

adapting marketing strategy and marketing mixes according to cultural, regional, and national differences

38
Q

Globalization

A

the development of marketing strategies that treat the entire world (or its major regions) as a single entity

ex: Coke or Ford

Marketing 330 (16 decks)

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