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26 Cards in this Set

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