International Marketing

Front 1

7 Major Trends Affecting Global Business Today

Back 1

1. Rapid growth of WTO, NFTA & EU
2. Trend towards free market system
3. Impact of Internet
4. Threats of terrorism
5. New major producing/consuming nations - BRIC
6. Properly manage resources and environment
7. Long-term affects of 2008-2009

Front 2

4 Points of view on Globalization

Back 2

1. Globalists
2. Anti Globalists
3. Skeptics
4. Transformationalists

Front 3

Domestic Controllables

Back 3

1. Product
2. Price
3. Promotion
4. Distribution
5. Research

Front 4

Domestic Uncontrollables

Back 4

1. Political/Legal Forces
2. Competitive Forces
3. Economic Climate

Front 5

Foreign Uncontrollables

Back 5

1. Economic forces
2. Competitive forces
3. Level of technology
4. Structure of distribution
5. Political/legal forces
6. Cultural forces
7. Geography/Infrastructure

Front 6

Steps to Avoid SRC

Back 6

1. Define business problems in home terms
2. Define in foreign terms
3. Isolate SRC influence
4. Redefine problem without SRC

Front 7

Stages of International Market Involvement

Back 7

1. No direct foreign marketing
2. Infrequent foreign marketing
3. Regular foreign marketing
4. International marketing
5. Global marketing

Front 8

Strategic Orientation

Back 8

1. Ethnocentric
2. Polycentric
3. Regiocentric/Geocentric

Front 9

General Agreement on Tariffs and Trade

Back 9

1. Trade shall be concluded on a non-discriminatory basis
2. Protection shall be afforded domestic industries through customs tariffs, not through commercial measures such as import quotas
3. Consultation shall be primary method used to solve global trade problems

Front 10

Roles of World Bank

Back 10

1. Lends money to governments of developing countries
2. Provides assistance to governments of developing countries
3. Lends directly to private sector
4. Provides investors with investment guarantees
5. Promotes increased flow of international investments

Front 11

Key Areas of Internal Trade

Back 11

1. Procurement
2. Investment Incentives
3. Labor mobility
4. Consumer-related standards
5. Transportation
6. Environment protection

Front 12

Markets are a result of

Back 12

1. Marketers efforts
2. Economic conditions
3. all other elements of the culture

Front 13

How you learn culture

Back 13

1. Socialization
2. Acculturation

Front 14

Elements of Culture

Back 14

1. Belief
2. Attitude
3. Value

Front 15

Cultural Values - Hofstede

Back 15

1. Individualism/Collective Index
2. Power Distance Index
3. Uncertainty Avoidance Index
4. Masculinity/Femininity Index
5. Long-term Orientation

Front 16

Cultural Values

Back 16

1. Rituals
2. Symbols
3. Importance of Language
4. Spirituality

Front 17

Types of Knowledge

Back 17

1. Factual
2. Interpretive

Front 18

10 Criteria of Adaptation

Back 18

1. Open Tolerance
2. Flexibility
3. Humility
4. Justice/Fairness
5. Ability to adjust to varying tempos
6. Curiosity/Interest
7. Knowledge of country
8. Liking for others
9. Ability to command respect
10. Ability to integrate oneself into environment

Front 19

Basic Elements of Negotiation

Back 19

1. Product
2. Price
3. Service associated with product
4. Friendship between vendors and customers

Front 20

Economic Theories of Development and Trade

Back 20

1. Absolute Advantage
2. Comparative Advantage
3. Factor Endowments
4. Country Similarity Theory
5. Product Life Cycle
6. Competitive Advantage

Front 21

3 Stages of Life Cycle

Back 21

1. New product
2. Maturing product
3. Standardized product

Front 22

Stages of Economic Development

Back 22

1. Traditional society
2. Preconditions for take-off
3. Take-off
4. Drive to maturity
5. Age of high mass consumption

Front 23

Balance of Payments Accounts

Back 23

1. Current Account
2. Capital Account
3. Official Reserves Account

Front 24

Porter's 5 Forces Model

Back 24

1. Supplier Competition
2. Threat of new market entrants
3. Bargaining power of buyers
4. Power of suppliers
5. Threat of substitutes

Front 25

Economic Risks

Back 25

1. Exchange controls
2. Local-content laws
3. Import restrictions
4. Tax controls
5. Price controls
6. Labor problems

Front 26

Reasons for Protectionism

Back 26

1. Protection of infant industry
2. Protection of income market
3. Need to keep money at home
4. Encouragement of capital accumulation
5. Maintenance of SOL and real wages
6. Conservation of natural resources
7. Industrialization of low wage nation
8. Maintenance of employment, reduction of UE
9. National defence
10. Increased business size
11. Retaliation and bargaining

Front 27

Tariffs Increase

Back 27

1. Inflationary Pressures
2. Special interest privileges
3. Government control, political considerations
4. Number of tariffs

Front 28

Tariffs Weaken

Back 28

1. Balance of payment positions
2. Supply and Demand patterns
3. International relations

Front 29

Tariffs Restrict

Back 29

1. Manufacturing supply choice
2. Choice available to consumers
3. Competition

Front 30

Types of Non-Tariff Barriers

Back 30

1. Quotas
2. Voluntary Export Restraints (VERs)
3. Boycotts & Embargoes
4. Monetary barriers
5. Standars
6. Antidumping Penalties

Front 31

Forms of Government

Back 31

1. Monarchy/Dictatorship
2. Oligarchy/Aristocracy
3. Democracy

Front 32

Political Risks of International Marketing

Back 32

1. Confiscation
2. Expropriation
3. Domestication
4. Political Sanctions
5. Political/ Social Activists
6. Violence & Terrorism

Front 33

Strategies for Reducing Political Vulnerability

Back 33

1. Joint Ventures
2. Expanding Investment Base
3. Licensing
4.Planned Domestication
5. Political Payoffs
6. Insurance

Front 34

Bases for Legal Systems

Back 34

1. Common Law
2. Civil Law
3. Islamic Law
4. Commercial-Legal Socialist Law

Front 35

3 Types of Legal Disputes

Back 35

1. Between Governments
2. Between Company & Government
3. Between 2 Companies

Front 36

Dispute Resolution

Back 36

1. Conciliation
2. Arbitration
3. Litigation

Front 37

Deterrents to Litigation

Back 37

1. Fear of creating poor image
2. Fear unfair treatment in foreign court
3. Difficulty in collecting judgement
4. Relatively high cost and time requirements
5. Loss of confidentiality

Front 38

4 Steps to International Marketing

Back 38

1. General info about country
2. Forecast future info
3. Specific marketing info
4. Specific info on capability of international marketing

Front 39

Marketing Research Process

Back 39

1. Define problem, establish objective
2. Determine sources of info
3. Consider costs/benefits
4. Gather relevant primary and secondary data
5. Analyze, interpret, summarize results
6. Communicate to decision makers

Front 40

Problems of Secondary Data

Back 40

1. Availability
2. Reliability
3. Comparability
4. Validating

Front 41

Types of Primary Data

Back 41

1. Quantitative
2. Qualitative

Front 42

Problems of Primary Data

Back 42

1. Ability to communicate opinions
2. Willingness to respond
3. Sampling in field surveys
4. Language and Comprehension

Front 43

Internet Research Uses

Back 43

1. Online Surveys
2. Online focus groups
3. Web visitor tracking
4. Advertising measurement
5. Observational research
6. Customer ID Systems
7. Email marketing lists
8. Embedded research

Front 44

Estimating Marketing Demand

Back 44

1. Historical Data
2. Local products and imports
3. Expert opinion
4. Analogy

Front 45

Trade Factors

Back 45

1. Economic
2. Political
3. Geographic
4. Cultural

Front 46

Patterns of Multinational Cooperation

Back 46

1.Regional Cooperation Groups
2. Free Trade Area
3. Customs Union
4. Common Market
5. Political Union

Front 47

North America Free Trade Provisions

Back 47

1. Market Access
2. Non Tariff Barriers
3. Rules of Origin
4. Customs Administration
5. Investment services
6. Intellectual Property
7. Standards
8. Government procurement

Front 48

Southern Free Trade Area

Back 48

1. Argentina
2. Bolivia
3. Brazil
4. Chile
5. Paraguay
6. Uruguay

Front 49

Associations of Southeast Asian Nations (ASEAN)

Back 49

1. Brunei
2. Cambodia
3. Indonesia
4. Laos
5. Malaysia
6. Philippines
7. Singapore
8. Thailand
9. Vietnam
10. Myanmar

Front 50

Triad of Multinational Market Regions

Back 50

1. Europe
2. Asia-Pacific
3. Americas

Front 51

2-sided Challenge of Development

Back 51

1. Understanding of Society
2. Economic State

Front 52

4 Tigers of Southeast Asia

Back 52

1. South Korea
2. Taiwan
3. Hong Kong
4. Singapore

Front 53

Antecedents for Development

Back 53

1. Political Stability
2. Economic and legal reforms
3. Entrepreneurship
4. Planning
5. Outward Orientation
6. Factors of Production
7.Industries target for growth
8. Incentives
9. Privatization

Front 54

India's 5-Point Agenda

Back 54

1. Improve investment climate
2. Develop WTO strategy
3. Reform agriculture, food processing
4. Eliminate red tape
5. Institute better corporate governance