Global Marketing Session 4

The process by which businesses or other organizations develop international influence or start operating on an international scale.

Lower prices, greater choice, economies of scale, increased global investment, free movement of labour, and a possible reduction in global inequality.

Structural unemployment, environmental costs, tax competition and avoidance, brain drain from some countries, and a reduction in cultural diversity.

<p>This question is not explicitly answered in the text.</p> Signup and view all the answers

<p>Export</p> Signup and view all the answers

<p>The provided text lists many brands, including Axe, Becel, Rexona, Signal, Slim-Fast, Comfort, and more.</p> Signup and view all the answers

<p>It is crucial for companies to carefully plan for any entry into a new market, especially when it is in a new country, to avoid costly mistakes.</p> Signup and view all the answers

<p>General economic environment</p> Signup and view all the answers

<p>GDP is a measure of the market value of all the final goods and services produced in a specific time period by a country.</p> Signup and view all the answers

<p>GNI is the total domestic and foreign output claimed by residents of a country.</p> Signup and view all the answers

<p>PPP is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies.</p> Signup and view all the answers

<p>The HDI is a statistical composite index of life expectancy, education, and per capita income indicators, which is used to rank countries into four tiers of human development.</p> Signup and view all the answers

<p>Distribution channels are the chain of businesses or intermediaries through which the final buyer purchases a good or service. This includes wholesalers, retailers, distributors, and the Internet.</p> Signup and view all the answers

<p>Communication channels are the means by which businesses communicate with their target audience. This may include advertising, public relations, social media, and other channels.</p> Signup and view all the answers

<p>Commercial infrastructure includes the legal, banking and regulatory systems in a country.</p> Signup and view all the answers

<p>Government actions that can affect international trade include tariffs, quotas, exchange control, and trade agreements.</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Examples of trade agreements include the European Union (EU), NAFTA, CAFTA and Mercosur.</p> Signup and view all the answers

<p>BRICS is an important group of emerging economies from the world, including Brazil, Russia, India, China, and South Africa.</p> Signup and view all the answers

<p>It ensures that companies understand the different cultures and values present in the markets they are targeting.</p> Signup and view all the answers

<p>The five value dimensions in Hofstede's cultural dimensions include power distance, individualism vs collectivism, masculinity vs femininity, uncertainty avoidance, and long-term vs short-term orientation.</p> Signup and view all the answers

<p>Export</p> Signup and view all the answers

<p>Exporting is sending goods or services for sale from the country of origin to another country.</p> Signup and view all the answers

<p>Franchising is authorization granted by a company to another individual or business to carry out specified commercial activities. The franchisee operates under the brand name and business model of the franchisor.</p> Signup and view all the answers

<p>A strategic alliance is an arrangement between two companies to undertake a mutually beneficial project while each retains its independence.</p> Signup and view all the answers

<p>Joint ventures are business arrangements where two or more parties work together, pooling their resources, for a specific goal. They are often seen in international markets.</p> Signup and view all the answers

<p>Foreign direct investment occurs when an investor, usually a company, takes an ownership stake in a foreign company or project.</p> Signup and view all the answers

<p>The three product or service strategies discussed include selling the same product or service as in the home country, selling a similar product or service but with minor adaptations, and selling totally new products or services.</p> Signup and view all the answers

<p>The factors influencing pricing strategies include anti-dumping policies, economic conditions, and competitive factors.</p> Signup and view all the answers

<p>Global distribution channels can be complex and long, and consumers may prefer to shop at smaller, family-owned stores.</p> Signup and view all the answers

<p>Literacy levels differ across countries, and adapting to language differences is crucial. Cultural and religious differences can also be a challenge when developing marketing communications.</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>The bottom of the pyramid refers to the global population that is low income, typically those living on $1-3 per day.</p> Signup and view all the answers

<p>To create a product of great quality at a price that consumers in this market can afford.</p> Signup and view all the answers