Marketing Ch 15 Global Marketing

Front 1

What are culture universals?

Back 1

those elements ofculture evident in all societies

Front 2

What is a global firm?

Back 2

one that, byoperating in more than one country, gains marketing, production, R&D, andfinancial advantages that are not available to purely domestic competitors.

Front 3

Geert Hosftede’s universal cultural template.

Back 3

Individualism vs. Collectivism Large Power Distance vs. Small Power DistanceHigh Uncertainty Avoidance vs. Low Uncertainty Avoidance Masculinity vs. Femininity High Context vs. Low Context

Front 4

World Bank’s four-category classification system ofcountries

Back 4

Low income countries have a GNI per capita of less than $936. 40% of the worlds population

Low-Middle income countries those with a GNI per capita between $936 and $3,705.

Upper-Middle income countries those with GNI per capita ranging from $3,706 to $11,455. High income countries those with GNI per capita ranging from $3,706 to $11,455.

Front 5

What is tariff?

Back 5

taxes on certainimported products designed to raise revenue or to protect domestic firms.

Front 6

What is GATT?

Back 6

Reducing tariff from 45%---5%The General Agreement On Tariffs And Trade (GATT) was a treaty created following the conclusion of World War II.

GATT's main objective was to reduce the barriers of international trade through the reduction of tariffs, quotas and subsidies

Front 7

What is BRIC

Back 7

Today, global attention is focused on opportunities in Brazil, Russia, India and China (collectively known as BRIC) India is the sole low-middle-income county in the BRIC group. Russia, Brazil and China, are the BRIC nations that currently fall into the upper-middle-income category.

Front 8

G8

Back 8

The Group of Eight (G8)refers to the group of eight highly industrialized nations—France, Germany,Italy, the United Kingdom, Japan, the United States, Canada, and Russia—thathold an annual meeting to foster consensus on global issues like economicgrowth and crisis management, global security, energy, and terrorism.

Front 9

Free trade zones

Back 9

North American Free Trade Agreement (NAFTA) Central American FreeTrade Agreement (CAFTA)

Front 10

Two economic factors reflect the country’sattractiveness as a market

Back 10

o Industrial structure

o Income distribution.

Front 11

Four types of industrial structure

Back 11

o Subsistence economies

o Raw material exporting economies

o Industrializing economies

o Industrial economies

Front 12

Foreign country’s political legal environment

Back 12

o Country’s attitude toward international buying o Government bureaucracy o Political stability o Monetary regulations

Front 13

Three Types of mode of entry

Back 13

exporting

joint venturing

direct investment

Front 14

Global Marketing Strategies

Back 14

Standardizedglobal marketing is using largely the same marketing strategy approaches and marketingmix worldwide.

Adapted globalmarketing isadjusting the marketing strategy and mix elements to each country’s market,bearing more costs but hoping for a larger market share and return.