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91 Cards in this Set
- Front
- Back
People in Brazil consider themselves Americans too. T or F?
They also always wear clean pressed jeans |
True
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A __ is a political association with effective dominion over a geographic area.
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State
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A state usually includes the ____ that claim the authoirty to make the rules that govern the people of the society in that territory.
Its status as a state often depends in part on being __________ as being sovereign |
set of institutions
recognized by a number of other states |
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Globalization reflect a business orientation based on the belief that the world is becoming more ___ and that distinctions between NATIONAL markets are not only fading,but for some products, will eventually disappear.
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Homogeneous
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Teh strategic planning process:
Understanding and adjusting the core strategy begins with a clear definition of the business for which the strategy is to be developed. T or F? |
True
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The ____ is a common description of a division in a company.
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Strategic Business Unit
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U.S and Japan are some of the "pickiest consumers in the world. T or F?
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True
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___ is the recognition that groups within markets differ sufficiently to justify individual marketing mixes
Trick is to use an appropriate segmentation variable or combination of variables to identify these groups and create a ___ product for each of them and potentially alter promotions, pricing, and distribution for ___ of them. |
Segmentation
Standardize Each |
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"if you are not thinking __, you are not thinking" ~Phil Kotler
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Segmentation
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Global consumer Segments: (6)
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1.Strivers
2.Devouts 3.Altruists 4.Intimates 5.Fun seekers 6.Creatives |
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___ - place more emphasis on material and professional goals than do other groups. more likely to be men.
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Strivers
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____ - tradition and duty are very important. 22% of adultss; women more than men
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Devouts
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____ - interested in social issues and social welfare.
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Altruists
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___ - value close personal and family relationships
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Intimates
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____ - high consumption of restaurants, bars, movies. youngest group
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Fun Seekers
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___ - strong interest in education, knowledge, and technology.
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Creatives
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Implenting a global marketing plan:
Success will come from a ___between local, regional, and global concerns. Best market approach may not be black and white but rather _____ Product choices should consider ___ markets as well as transfer products from one region to another. |
balance
Shades of Gray Individual |
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To avoid the "Not-Invented-Here" syndrom: (2)
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1. Ensure that local managers participate in the develppment of global brand marketing strategies
2. Encourage local managers to develop ideas for regional or global use. |
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The use of resources accumulated in one part of the world to compete for market share in another part of the world.
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cross-subsidization
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A market expansion policy characterized by focusing on and developing a small number of markets.
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Concentration
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A market expansion policy characterized by growth in a relatively large number of markets.
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Diversification
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Local resistance or decline in morale caused by the perception that headquarters is not sensitive to local needs.
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not-invented-here syndrome (NIH)
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The megamarkets of North American, Europe, and Asia-Pacific.
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Triad
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A local company whose assets are transferable, allowing it to compete head-on with established global players worldwide.
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Contender
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A local company that has assets that give it a competitive advantage only in its home market.
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Defender
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A company that is able to exploit its success at home as a platform for expansion elsewhere; this calls for markets or segments that are similar in terms of customer preferences.
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Extender
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A local company that sells out to a global player or becomes part of an alliance.
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Dodger
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____: "systematic and objective identification of information, collection, analysis, and dissemination of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing."
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Marketing Research
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Most non-U.S marketing research is conducted in otherWestern countries, even though more than ___% of the world's consumers live in emerging consumer markets.
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80%
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Reasons that firms may be reluctant to view international research as important: (3)
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1. Lack of sensitivity to differences in consumer tastes and preferences
2. Lack of familiarity with national and international data sources and the inability to use them 3. Actual but limited business experience in a country with a specific firm may be used as a substitute for organized research |
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Teh Japanese tend to use few extreme response categories than US respondents and have a stronger tendency to select items around the mid-range or neutral part of the scale. T or F?
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True
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In the centralized approach to coordinating international marketing, specifications such as focus, thrust, and design are directed by the home office to the local country operations for implementation.
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research specifications
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A substitute for a variable that one cannot directly measure.
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proxy variable
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Basic information needed to identify and compare key alternatives when a firm plans to launch international activities
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foreign market opportunity analysis
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Data is gathered to better understand situations, behavioral patterns, and underlying dimensions.
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qualitative data
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Data is amassed to assess statistical significance; surveys are appropriate research instruments.
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quantitative data
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Research carried out between nations, particularly those with similar environments, where the impact of uncontrollable macro variables is limited.
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international comparative research
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Reducing problems in the wording of questions by translating the question into a foreign language and having a second translator return the foreign text to the researcher’s native language.
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translation-retranslation approach
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Actions or wishes triggered by the expectation or preferences of one’s human environment.
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social desirability
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A step in the analysis of data in which the researcher determines what facts may have inadvertently skewed the responses; for example, if Italian responders report that very little spaghetti is consumed in Italy, the researcher may find that the responders were distinguishing between store-bought and homemade spaghetti.
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realism check
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Pretesting the survey is often not done because it is ___ and ___
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Time consuming and expensive
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Corporate Interests is the main reason we invaded alot of contries over the years. T or F?
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True
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Profits are the strongest catalyst to become involved in international marketing. T or F?
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True
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Firms invest to ___ and / or to asure themselves of sources of ___
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Enter Markets
Supply *Governments do the same |
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An equity investment to create or expand a permanent interest in a foreign enterprice such as through the purchase of manufacturers, distributors, sources of raw materials, etc.
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Foreign Direct Investment
*Especially likely when home currency is strong and target entity is of importance and of limited supply. |
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____:the purchase of stocks and bonds internationally
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Portfolio Investment
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Resource seekers are searching for ____
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natural and human resources
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Market seekers are searching for ____
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better opportunities
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Efficiency seekers areattempting to obtain the most ____
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economic sources / factors of production
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A special form of joint ventures, consisting of arrangements between two or more companies with a common business objective. They are more than the traditional customer–vendor relationship, but less than an outright acquisition.
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Strategic alliance
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Collaborations of two or more organizations for more than a transitory period, in which the partners share assets, risks, and profits.
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Joint Ventures
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The introduction into a culture of new products or ideas or practices, which may lead to changes in consumption.
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Change Agent
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In a joint venture, one partner can piggyback by making use of the other’s strengths.
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Piggyback
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The use of overseas sales as a way to balance inventories or compensate for overproduction in the short term.
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safety-valve activity
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Costs incurred in negotiating licensing agreements; all variable costs resulting from transfer of a technology to a licensee, and all ongoing costs of maintaining the agreement.
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Transfer costs
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Legal construct designed to encourage small and medium-sized companies to participate in the international marketplace.
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export trading company (ETC)
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___: domestic firms that specialize in performing international marketing services such as marketing research, preparing advertising and sales literature in foreign languages, creating promotions, physically shipping the product, etc.
Typically becomes an integral part of the marketing operations of its client companies. |
Export Management Companies
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____ :agent for an importer/buyer with authority to clear incoming product throught customers and ship product to final destination. These brokers are paid a fee and are regulated by their national customs service.
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Customs Brokers
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Any goods bearing an unauthorized representation of a trademark patented invention , or copyrighted work that is legally protected in the country where it is marketed.
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Product Counterfeiting
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Product Counterfeiting costs US firms over ___ billion a year.
Largest number of counterfeit goods comes from ___ |
60
China |
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A system wherein foreign partners are selected and awarded the franchising rights to territory in which they, in turn, can subfranchise.
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master franchising system
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Firms which become international due to unsolicited orders, such as those placed via a Web site, requiring export; unplanned participation in the international market.
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accidental exporters
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Simplifying a product or service due to lack of purchasing power or usage conditions.
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backward innovation
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The presentation of a product or service to evoke a positive and differentiated mental image in the consumers’ perception.
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positioning
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Conforming a product or service to meet prevailing legal and regulatory conditions in the market.
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mandatory product adaptation
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A method by which many developed countries help developing nations to improve their economic condition by providing for the duty-free importation of a wide range of products
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Generalized System of Preferences (GSP)
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Conforming a product or service to meet prevailing social, economic, and climactic conditions in the market.
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discretionary product adaptation
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Elements added to a core product or service that serve to distinguish it from competing products or services.
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augmented features
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Do consumers have a preference for certain fragrances based on their ag, ethinicity, and climate?
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Yes!
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Adaptations in styling, color, size, and other appearance features play an importan role in how a consumer ___ a product.
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Perceives
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Excessive packaging common in one culture may be resented in cultures that focus on environmental degradation. T or F?
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True
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___ is essential to marketing products internationally especially in markets where price plays a less important role.
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Quality
ISO compliance may be required by foreign buyers |
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Pricing is the only revenue generating element of the marketing mix. T or F?
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True
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Pricing is a means of ___ and ___ and offer to a potential buyer!
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attracting
communicating |
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___occurs when a foreign importer asks a US exporter to enter an artifically low value on the commercial invoice and to supply a second invoice apart from the shipment for the difference between the commerical invoice value and the true transaction value.
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Under_invoicing
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___ arethe internationally accepted standard definitions for terms of sale set by the International Chamber of Commerce since 1936
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Incoterms
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___:price quoted covers costs only at the point of origin. Maximum burden for all other charges rests with buyer.
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exworks (EXW)
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____:seller delivers goods, with import duties paid, including land transportation from import point to the buyers doorstep. Maximum burden on seller.
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Delivered Duty Paid (DDP)
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Manufacturer's/exporter's main goal is to be paid for goods shipped!
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True
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Negotiations generally occur because 2 or more parties are trying to improve their ___ position.
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power/wealth
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Coordinating various promotional strategies according to target market and product characteristics, the size of budget, the type of international involvement, and control considerations.
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integrated marketing communications
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Exporter’s strategy to increase perceived attention to the foreign customer through call-center technologies, customer-service departments, and the company’s Web site
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customer relationship management
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After sales force costs, trade shows are one of the most significant cost items in marketing budgets. T or F?
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True
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The tools an international marketer has available to form a total communications program for use in a targeted market: advertising, personal selling, publicity, sales promotion, and sponsorship.
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Promotional Mix
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How to structure the distribution channels is the most important long-term marketing mix decision a firm may make and channel used should be consistent with positioning of the product. T or F?
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True
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An intermediary for the distribution of goods who earns a commission on sales. Less freedom of movement than distributors becaushe they operate on a comission basis and do not usually physically handle the goods.
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Agents
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An intermediary that purchases goods for resale through its own channels
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Distributor
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A distribution channel that requires dealing with another domestic firm that acts as a sales intermediary for the marketer, often taking over the international side of the marketer’s operations
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Indirect Exporting
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A distribution channel in which the marketer takes direct responsibility for its products abroad by either selling directly to the foreign customer or finding a local representative to sell its products in the market.
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Direct Exporting
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___: the financial requirements for setting up a channel system.
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Capital
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A ____is an agreement, usually with a bank, to exchange a specific amount of currencies sometime in the future for a specific rate - the forward exchange rate.
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Forward Contract
Doing this is also called financial hedging |