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26 Cards in this Set
- Front
- Back
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INTERNATIONAL firms get _____by putting their facilities anywhere that yields the lowest production or distribution costs
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location efficiencies
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what accrues when firms build factories that serve more than one country, thus allowing them to lower production costs
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economies of scale
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firms adopt a ____startegy when they have low pressure for global integration and a low need for local responsiveness
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home-replication
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the goal of ______is to create a situation where is greater than the sum of individual parts
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synergy
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in strategy _____, a firm develops the tactics for achieving its formulated international strategies
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implementation
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marketing mix
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the four p's : pricig, product promotion and place
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echnocentric approach
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marketing abraod the way the the company markets at home
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polycentric approach
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customizing th emarketing mix to meet each market
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geocentric approach
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creating one marketing mix based on the needs of the worldwide market.
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standard price policy
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the firm charges the same price for its products no matter where its sold. McDonals $1 burger
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two tiered pricing policy
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one price for domestic sales and another prcie for the international market.
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market pricing policy
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customize the prices
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gray market / parrallel importing
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a market that results when products are imported into a country legally but outside the normal channels of distribution authorized by the manufacture
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promotion
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enhances the desirebility of a product
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promotion mix
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advertising, personal, sales promotion, and public relations
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3 factors in advertising startegy
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the message; the media available to convey the message and the extent to which the firm globalizes its advertising effort
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message
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of an advertising is the facts or impressions the advertiser wants to convey to potential customers
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medium
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the communication channel used to convey advertising-newspaper television etc
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global vs.local advertising
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coca cola advertising with all the hcildren in the world-global others are local
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personal selling
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making sales based on personal comtacts- must know local language, cultures etc
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sales promotion
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comprises specialized marketing efforts like coupons, smapling etc
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peblic relations
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aims effort at enhancing a forms reputation with th epublic, eg. offering fundraisers for NPO's
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distribution
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the process of getting products and services from the firm into the hands of customers
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international order cycle time
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the time between tehe placing of an order and the reciept by the cuntomer of the order
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channel length
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the number of stages in the distribution channel, manufacturer wholesaler retailer customer
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direct sales
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staright from the company to the customer: dell
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