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International Marketing > IM Final > Flashcards

IM Final Flashcards

1
Q

Who is involved in negotiations?

A

foreign governments, distributors,
franchisors, customers, advertising
services et

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2
Q

What kind of problems do cultural differences cause in international negotiations?

A

Language, Nonverbal behaviors, Values, Thinking and decision-making processes

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3
Q

Some dimension of cultural variations in negotiations

A

goal, attitudes, personal styles, time, emotion, risk taking

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4
Q

Ex of nonverbal communication and language

A

yes, no, nodding, silence, facial gazing, touching

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5
Q

Verbal negotiation tactics

A

promise, threat, recommendation, reward, punishment, question, command

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6
Q

Differences in cultural values that can affect negotiations

A

Objectivity, time, competitiveness and equality

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7
Q

Four steps to have efficient negotiations

A

appropriate negotiation team; management of preliminaries, including
training, preparations, and manipulation of
negotiation settings; management of the process of negotiations; Appropriate follow-up procedures and practice

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8
Q

Components of negotiation preliminaries

A

Assessment of the situation and the people; Facts to confirm during the negotiation; Agenda; Best alternative to a negotiated agreement (BATNA); Concession strategies; Team assignment

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9
Q

Four stages of the negotiation itself

A

Nontask sounding (relationship building);Task-related exchange of information; Persuasion; Concessions and agreement

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10
Q

What is nontask sounding?

A

used to determine mood, communication styles, background, type of people

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11
Q

What to do during persuasion?

A

avoid threats or emotional outbursts, ask questions, use third parties

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12
Q

Definition of pricing

A

amount a person, gov, or company charges for a good or service

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13
Q

Active pricing

A

set prices to meet marketing objectives, such as share or return on profits

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14
Q

Static pricing

A

follow market prices, low focus on foreign business

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15
Q

Parallel Imports

A

Grey markets= importers buy products from distributors in one country and sell it in another to different distributors who are not part of the distribution system

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16
Q

When do parallel imports occur

A

whenever price differences are greater than cost of transportation between two market

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17
Q

Effects of grey trade

A

erosion of brand equity, strained relationship with authorized channel members, legal liabilites, complication of global marketing strategies

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18
Q

Variable cost pricing

A

Marginal or incremental cost of producing goods to be sold in overseas market

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19
Q

Full cost pricing

A

No unit of a similar product is different from any other unit in terms of cost

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20
Q

Skimming vs penetration pricing

A

Reach a segment of the market that is relatively price insensitive (low number of sales but higher profit); vs stimulate market and sales growth by deliberately offering products at low price and increase the number of sales but takes longer for profit

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21
Q

Regional cooperation groups

A

Two countries that agree to develop industries that can help each other

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22
Q

free trade area

A

two or more countries to reduce custom duties and nontrade barriers but maintain tariffs for external countries

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23
Q

Customs union

A

reduce/eliminated tariffs and common external tariff on products imported (used to be EU)

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24
Q

Common market

A

eliminates all tariffs and restrictions on internal trade, common external tariffs, allows for free flow of capital and labor

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25
Q

political union

A

political and economic integration

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26
Q

Trends in Eastern Europe for international marketers

A

privitazation, free market pricing systems, relaxing import controls, inflations; bureaucracy, corruption, organized crime

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27
Q

Emerging Eastern European states

A

Czech, Hungary, Poland, Romania, Estonia, Latvia, Lithuania

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28
Q

Emerging Africa and Middle East states

A

Ethiopia, Angola, Malawi; political instability, unstable economically and little intergration

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29
Q

Definition of Emerging Markets

A

low income, rapid growth, economic liberalization with a free-market system = 64

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30
Q

Challenges in emerging markets

A

macroeconomic instability, political shocks, lack of institutional features and defined property rights or legal frameworks

31
Q

How has China’s economy been impacted

A

Admission to the WTO and US granting normal trade relations

32
Q

How has India’s economy evolved

A

Privatization; demolishing monopolies; trade agreement; more foreign direct investment

33
Q

Bottom of the Pyramid Markets

A

4 billion people with less than $1200

34
Q

What is global marketing

A

Marketing activities coordinated and integrated across multiple country markets

35
Q

Benefits of global marketing

A

economies of scale in production and marketing, competitive advantages; transfer of experience and know-how; access to customers

36
Q

Types of planning for global markets

A

corporate planning, strategic planning, tactical planning

37
Q

Corporate planning

A

long term, general goals

38
Q

strategic planning

A

products, capital, research, long and short term goals

39
Q

tactical planning

A

specific actions, market planning

40
Q

Steps in the international planning process

A

analysis and screen to match company and country needs; adapt marketing mix to targets; develop plan; implement and control

41
Q

How are companies structured

A

global product, geographical divisions\, matrix

42
Q

What is global segmentation

A

process of subdividing a large homogenous market into clearly identifiable groups having similar attributes, responding similarly to a companies marketing mix

43
Q

What characteristics are needed for segmentation

A

identifiable, measurable, accessible, able to buy,willing to buy

44
Q

Two stages of global segmentation

A

macro = division of a number of countries; micro - local segments which are similar across the countries (lifestyle, demographics)

45
Q

Three segmentation scenarios

A

universal/global; regional; unique/diverse

46
Q

What is positioning

A

present the product to the selected markets to that is is perceived in the most favorable way relative to preferences and competition

47
Q

Three reasons why consumers buy mispositioned products?

A

brand image, country of origin, low price

48
Q

What are global products?

A

standarized with some uniform features in all countries (Gillete, TV sets)

49
Q

Regional products

A

unique to a trading region (PG soap)

50
Q

Localization

A

changes required for a product or service to function in a new country

51
Q

Adaptation

A

changes made to match consumer tastes or preferences

52
Q

product homologation

A

changes mandated by local product and service standards

53
Q

Characteristics of innovation

A

relative advantage, compatibiliity, complexity, trialability, observability

54
Q

Levels of adaptation for products

A

core, packaging, support

55
Q

global logistics

A

design and management of a system that directs and controls the flow of materials into, through and out of the firm

56
Q

What factors impact distribution

A

distance, exchange rate fluctuations, foreign intermediaries, regulation,security

57
Q

What must be considered when determing channels

A

product requirements, logistic feasibility, demand factors, competitive factors, middlemen resources, own resources

58
Q

What are middlemen good for

A

inventory financing, cumulative rebates, merchandise returns, promotional support

59
Q

Distribution patterns for retail

A

size patterns, direct marketing, resistance to change

60
Q

Types of home country middle men

A

manufacturer’s retail stores, global retailers, export management companies, trading companies, complementary marketers

61
Q

Levels of channel management of middlemen

A

locating, selecting, motivating, controlling, terminating

62
Q

Concerns for e-vendors

A

culture, adaptation, localcontact, payment, delivery, promotion

63
Q

Components of IMC

A

advertising, direct selling, sales promotions, trade shows, personal selling, public relations, customer service

64
Q

Hierarchy of effects

A

brand awareness, knowledge, attitude, liking, trial, adoption

65
Q

how to do international advertising

A

perform market research, specify goals, determine message, select media, have a budget, execute and evaluate

66
Q

Legal constraints with international advertising

A

comparative advertising, accessibility to media, limitations on commercials, taxes

67
Q

When are expats good for

A

highly technical products, high cost, cultural and legal barriers

68
Q

Virtual expats

A

manage operations in other countries but don’t live there; stay in hotels

69
Q

Factors that affect global personal selling transferability

A

differing human relations, degree of market development, differing regulatory environments, geographic and physical dimensions

70
Q

How to have successful expat repatriation

A

mentor programs, keep in touch with headquarters, offer them a job

71
Q

What causes price escalation

A

costs of exporting, taxes, tariffs, admin costs, inflation, deflation, exchange rate fluctuations

72
Q

How to lessen price escalation

A

lowering costs of goods, lowering tariffs, lowering distributoin costs, dumping

73
Q

Countertrade types

A

barter, compensation deals, counterpurchases, product buy-backs, offset deals

International Marketing (1 decks)

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