Final Review Ch.3 Flashcards Preview

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Flashcards in Final Review Ch.3 Deck (10):
1

Differences between INTERNATIONAL MARKETING and GLOBAL MARKETING

Exporting products (international) and selling/fully invested to the world (global)

2

What is EXPORTING?

Shipping goods (produced in home country)

3

What is LICENSING?

Allowing company to use your processes (selling and producing as their own)

4

What is JOINT VENTURES?

Shares expenses and risks with another company

5

What is FOREIGN DIRECT INVESTMENT?

Wholly owned operations in other countries

6

What kind of marketing mix is used for GLOBAL marketing?

Standardized

7

What kind of marketing mix is used for INTERNATIONAL marketing?

Customized

8

What kind of marketing mix is used for GLOCAL?

Standard platform adapted to local requirements

9

What 5 considerations need to be made when deciding which foreign markets are attractive?

1. Customer Needs
2. Customer Purchasing Power
3. Market Size
4. Market Growth Rate
5. Market Access

10

What is DUMPING?

The pricing of goods at less than their cost of production or less than the price in the home market. (Example: countries dumping shrimp in US market)