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20 Cards in this Set
- Front
- Back
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Global Commerce Causes
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Peace
aircraft mobile phone |
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Four most dynamic trends affecting global business today
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1. Rapid growth of World Trade organization and regional free trade areas (NAFTA)
2. Acceptance of the free market system among developing countries: Latin America, Asia, and Eastern Europe 3. Global Media: internet, phones 4. the mandate to manage the resources and global environment properly for the generations to come. |
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Foreign investment in the USA
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16.3 trillion (book) 9.6 (slides)
2.6 trillion more than US overseas |
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Environmental Adaptation
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be able to interpret effectively the influence and impact of the culture in which you hope to do business
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Foreign Environment
(uncontrollable) 7 |
political/legal forces
economic forces competitive forces level of technology structure of distribution geography and infrastructure cultural forces |
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Domestic Environment
(uncontrollable) 3 |
political/legal forces
economic climate competitive structure |
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Persons self-reference criterion (SRC)
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unconscious reference to one's own cultural values, experiences, and knowledge as a basis for decisions.
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The key to successful international marketing
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adaptation to the environmental differences from one market to another
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dangers of the SRC
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failing to recognize the need to take action
discounting cultural differences reacting in offensive ways |
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the most effective way to control the influence of ethnocentrism and the SRC is to
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recognize their effects on our behavior
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globally aware
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tolerance of cultural differences
knowledge of cultures, history, world market potential, and global economic, social, and political trends |
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5 stages of international marketing involvement
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no direct foreign marketing
infrequent foreign marketing regular foreign marketing international marketing global marketing |
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no foreign marketing
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online sales
distributors sales not actively trying to get foreign customers |
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infrequent foreign marketing
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surpluses brought to foreign markets with no intention of long term markets
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regular foreign marketing
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permanent productive capacity devoted to the production of goods to be marketed in foreign markets.
critical to existence |
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international marketing
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fully committed to and involved in international marketing activities
production of goods outside the home market company becomes an international or multinational marketing firm |
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global marketing
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treat the world as one market
usually when more than half of sales are abroad |
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strategic orientation 3
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domestic market extension orientation
multi-domestic market orientation global market orientation |
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domestic market extension orientation
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domestic business is priority
minimal efforts to adapt the marketing mix to foreign markets ethnocentric |
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multidomestic market orientation
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country-by-country basis
separate marketing strategies for each country advertising is localized |
