International Marketing in Global Business

To find new markets for products and services that have achieved maximal domestic market potential

Reducing average costs of production

To increase market size, which often exceeds the potential of domestic markets

<p>Extending the product life cycle</p> Signup and view all the answers

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

<p>Reduced average costs of production</p> Signup and view all the answers

<p>To increase sales and generate profits</p> Signup and view all the answers

<p>Optimizing overall costs and sourcing competencies globally</p> Signup and view all the answers

<p>The ability to sell at higher prices due to lack of competition</p> Signup and view all the answers

<p>Amortization at an earlier stage</p> Signup and view all the answers

<p>Lower costs of stocking goods</p> Signup and view all the answers

<p>To make informed decisions based on facts</p> Signup and view all the answers

<p>Company competencies and market potential</p> Signup and view all the answers

<p>Nature of the product(s) to be launched internationally</p> Signup and view all the answers

<p>Company's systems and foreign market's cultural environment</p> Signup and view all the answers

<p>To achieve a return on investment</p> Signup and view all the answers

<p>Production orientation</p> Signup and view all the answers

<p>To balance production, sales, and customer orientation</p> Signup and view all the answers

<p>Passive exports</p> Signup and view all the answers

<p>Customer orientation</p> Signup and view all the answers

<p>Similar customer demands across markets</p> Signup and view all the answers

<p>To fulfill corporate social responsibilities</p> Signup and view all the answers

<p>Balancing production costs and customer needs</p> Signup and view all the answers

<p>Due to the high costs of production and distribution</p> Signup and view all the answers

<p>Customer orientation focuses on customer demands, while sales orientation focuses on production costs</p> Signup and view all the answers

<p>Decreased costs of stockholding due to domestic sales</p> Signup and view all the answers

<p>To attract socially aware consumers</p> Signup and view all the answers

<p>It misses out on opportunities for generating scale economies</p> Signup and view all the answers

<p>It provides economies of standardization</p> Signup and view all the answers

<p>Market size and growth potential</p> Signup and view all the answers

<p>To allocate resources adequately</p> Signup and view all the answers

<p>A company lacking a product line that meets local preferences</p> Signup and view all the answers

<p>The relative importance of marketing mix elements</p> Signup and view all the answers

<p>Generating large scale economies</p> Signup and view all the answers

<p>A company lacking a basic model of its product</p> Signup and view all the answers

<p>To allocate resources adequately</p> Signup and view all the answers

<p>Where a company misses out on market opportunities due to insufficient coverage of certain geographical areas.</p> Signup and view all the answers

<p>To compare the market potential and actual company sales.</p> Signup and view all the answers

<p>To allocate resources to close gaps in the market.</p> Signup and view all the answers

<p>Economic, cultural, and legal reasons.</p> Signup and view all the answers

<p>Packaging and labeling regulations.</p> Signup and view all the answers

<p>German car makers selling compact cars in the United States.</p> Signup and view all the answers

<p>Variations in income levels.</p> Signup and view all the answers

<p>It affects the distribution of products to customers.</p> Signup and view all the answers

<p>The additional costs associated with product alterations.</p> Signup and view all the answers

<p>To achieve optimal results.</p> Signup and view all the answers

<p>Whether the brand name can be used globally without prejudice or misunderstandings</p> Signup and view all the answers

<p>Adapting to different distributional infrastructures</p> Signup and view all the answers

<p>To ensure direct interaction with customers</p> Signup and view all the answers

<p>Differences in cultural connotations of words or expressions</p> Signup and view all the answers

<p>To create a recognizable brand identity</p> Signup and view all the answers

<p>Delivering products quickly and efficiently</p> Signup and view all the answers

<p>The distributional infrastructure in the target country</p> Signup and view all the answers

<p>To outsource logistical services</p> Signup and view all the answers

<p>Differences in cultural connotations of words or expressions</p> Signup and view all the answers

<p>To prevent damage caused by high voltage when power is re-established after an outage</p> Signup and view all the answers

<p>Ensuring the logistic chain and the cool chain are not interrupted</p> Signup and view all the answers

<p>All of the above</p> Signup and view all the answers

<p>Targeting those consumers initially interested in the product</p> Signup and view all the answers

<p>Non-competitiveness</p> Signup and view all the answers

<p>To generate the same revenue in a stable currency</p> Signup and view all the answers

<p>50%</p> Signup and view all the answers

<p>Non-competitiveness</p> Signup and view all the answers

<p>All of the above</p> Signup and view all the answers

<p>Prices increase</p> Signup and view all the answers

<p>Gaining a high market share in the short term</p> Signup and view all the answers

<p>Developing countries</p> Signup and view all the answers

<p>To have some leeway for negotiations</p> Signup and view all the answers

<p>Increased workload in pricing decisions</p> Signup and view all the answers

<p>They receive their income in a different currency</p> Signup and view all the answers

<p>To provide direct selling approaches</p> Signup and view all the answers

<p>Because little personal interaction is necessary</p> Signup and view all the answers

<p>Language barriers and cultural differences</p> Signup and view all the answers

<p>To improve their competitiveness</p> Signup and view all the answers

<p>They lose their capacity to purchase imported cars</p> Signup and view all the answers

<p>The emphasis on direct or indirect selling approaches</p> Signup and view all the answers

<p>The partner's ability to provide after-sales services</p> Signup and view all the answers

<p>Delays in receiving spare parts</p> Signup and view all the answers

<p>Setting up a network of retailers and repair shop partners</p> Signup and view all the answers

<p>The partner's financial credibility and resources</p> Signup and view all the answers

<p>Enhanced customer satisfaction and loyalty</p> Signup and view all the answers

<p>Availability of original spare parts</p> Signup and view all the answers

<p>to find new markets for products and services that have achieved maximal domestic market potential</p> Signup and view all the answers

<p>by employing economies of scale</p> Signup and view all the answers

<p>it allows companies to extend the product life cycle</p> Signup and view all the answers

<p>because market sizes often exceed the potential of domestic markets</p> Signup and view all the answers

<p>it allows companies to employ first-mover advantages</p> Signup and view all the answers

<p>it helps to reduce costs</p> Signup and view all the answers

<p>General marketing orientation, market segmentation, target markets, managing the marketing mix</p> Signup and view all the answers

<p>Production, sales, customers, strategic marketing, social marketing</p> Signup and view all the answers

<p>To focus on specific customer demands while covering regional markets and producing cost-efficiently</p> Signup and view all the answers

<p>To find new markets and customers, leading to increased sales and revenue</p> Signup and view all the answers

<p>Increased size of the market and extended product life cycle</p> Signup and view all the answers

<p>The company's marketing mix and management style</p> Signup and view all the answers

<p>To produce cost-efficiently and focus on core competencies</p> Signup and view all the answers

<p>Difficulty in determining a fair and competitive price in foreign markets</p> Signup and view all the answers

<p>To adapt the marketing mix to local market conditions and customer needs</p> Signup and view all the answers

<p>Whether to use a uniform brand name globally or adapt to local markets</p> Signup and view all the answers

<p>The main advantage of entering foreign markets is to increase sales and generate profits. This helps companies achieve amortization by increasing sales volumes, extending product life cycles, and employing scale economies, which reduces the pay-back period of investment.</p> Signup and view all the answers

<p>The two broad dimensions are the company's competencies with regard to international activities, and the potential of the global market for the firm's products and services. These dimensions influence the decision by assessing the company's capabilities and the market's potential, which helps determine whether to enter foreign markets.</p> Signup and view all the answers

<p>The primary advantage of being the first to enter a foreign market is the first-mover advantage, which allows companies to sell at relatively high prices, establish strong customer relationships, and sustain market success even when competitors enter the market.</p> Signup and view all the answers

<p>International marketing helps companies improve their market position by offering new products or entering new domestic and international markets. This improvement enables companies to increase their research and development efforts, leading to further investments and sustained market success.</p> Signup and view all the answers

<p>The primary benefit of reducing stock-holding costs is that it can lower the costs of stocking goods considerably, leading to an improved financial situation for the company.</p> Signup and view all the answers

<p>The five key decisions are: Should the company go international?, Which markets should it enter?, How should it approach these markets?, What form should the international marketing mix take?, and What implementation, coordination, and control measures should be used? These decisions influence the company's market strategy by providing a thorough assessment of the market and its potential.</p> Signup and view all the answers

<p>The primary advantage of international specialization is that it enables companies to produce in different countries to achieve optimized overall costs and source competencies globally, supporting international marketing approaches.</p> Signup and view all the answers

<p>The primary challenge of international marketing is the initial high costs and efforts required for global specialization, which can be overcome by generating a return on investment through marketing products internationally.</p> Signup and view all the answers

<p>The primary benefit of creativity in generating important information is that it enables companies to reach a decision based on facts and understand the opportunities and challenges of international marketing.</p> Signup and view all the answers

<p>International marketing can extend the product life cycle, leading to higher sales volumes and improved financial situation. This influence enables companies to increase their research and development efforts, leading to further investments and sustained market success.</p> Signup and view all the answers

<p>market opportunities</p> Signup and view all the answers

<p>a market-by-market analysis of differences between market potential and actual company sales</p> Signup and view all the answers

<p>to comply with varying standards and national laws that provide a certain level of protection with regard to health and safety risks</p> Signup and view all the answers

<p>by requiring accommodations to local habits and tastes</p> Signup and view all the answers

<p>income of potential consumers and infrastructure available in target countries</p> Signup and view all the answers

<p>to achieve optimal results</p> Signup and view all the answers

<p>missing out on market opportunities</p> Signup and view all the answers

<p>increased sales and market share</p> Signup and view all the answers

<p>coordinating and managing logistics across different geographical areas</p> Signup and view all the answers

<p>to determine whether to standardize or adapt products for foreign markets</p> Signup and view all the answers

<p>identifying areas for improvement and allocating resources to close gaps</p> Signup and view all the answers

<p>government influences, market characteristics, export prices, currency fluctuations, price negotiation habits, and relationships with suppliers</p> Signup and view all the answers

<p>to prevent damage caused by high voltage when power is re-established after an outage</p> Signup and view all the answers

<p>at a relatively high price, targeting consumers initially interested in the product</p> Signup and view all the answers

<p>products could prove too expensive for customers in foreign markets, leading to non-competitiveness</p> Signup and view all the answers

<p>they require prices to be recalculated to generate the same revenue in a stable currency, which can lead to devaluation of the currency</p> Signup and view all the answers

<p>government influences can limit or prohibit certain pricing strategies</p> Signup and view all the answers

<p>entering the market at a relatively low price to gain a high market share in a short period of time</p> Signup and view all the answers

<p>charges for transport, tariffs, and taxes add to the overall costs of the product</p> Signup and view all the answers

<p>consumers in certain countries may be more price-conscious than in others</p> Signup and view all the answers

<p>to negotiate prices and maintain a competitive edge</p> Signup and view all the answers

<p>Segmentation by country, segmentation by global category, and segmentation by multiple criteria. Segmentation by country involves focusing on a few national markets, segmentation by global category involves identifying a specific market segment globally, and segmentation by multiple criteria combines both approaches to identify cross-country segments.</p> Signup and view all the answers

<p>Understanding the relative importance of the marketing mix elements is crucial in allocating resources effectively. A gap analysis can help identify the usage gap, product line gap, distribution gap, and competitive gap, enabling companies to focus on areas that require improvement.</p> Signup and view all the answers

<p>Focusing on niche markets or mass markets affects product standardization, distribution channels, and communication strategies. Niche markets require tailored products and marketing strategies, while mass markets involve standardized products and mass marketing strategies.</p> Signup and view all the answers

<p>Segmentation by global category provides economies of standardization, allowing companies to target a specific market segment globally. It differs from segmentation by country, which focuses on a few national markets, and may miss out on opportunities for scale economies.</p> Signup and view all the answers

<p>Targeting a mass market in one country and a niche market in another requires adapting product offerings, distribution channels, and communication strategies to each market. This approach allows companies to maximize their market potential in different countries.</p> Signup and view all the answers

<p>Using internal distribution systems allows companies to control the distribution process, while using external distribution partners provides flexibility and cost savings. The choice of distribution strategy depends on the company's resources, market conditions, and product characteristics.</p> Signup and view all the answers

<p>Understanding the social and environmental impact of a company's production and marketing is crucial in attracting consumers who are aware of these issues and responding to public demands. This affects the company's marketing strategy, as it needs to incorporate social and environmental considerations into its marketing efforts.</p> Signup and view all the answers

<p>A gap analysis helps companies identify the usage gap, product line gap, distribution gap, and competitive gap, allowing them to focus on areas that require improvement. This helps companies allocate resources more effectively and develop targeted marketing strategies.</p> Signup and view all the answers

<p>Standardization involves using a uniform marketing mix across different countries, while adaptation involves tailoring the marketing mix to each country. The choice of approach depends on the company's target market, product characteristics, and resources.</p> Signup and view all the answers

<p>Targeting multiple countries with similar market characteristics allows companies to generate scale economies and reduce costs. This approach requires adapting the marketing mix to each country, while also leveraging similarities across markets.</p> Signup and view all the answers

<p>Their buying power gets disproportionately decreased.</p> Signup and view all the answers

<p>They have to increase prices to import cars.</p> Signup and view all the answers

<p>Developing countries, particularly in the developing part of the world.</p> Signup and view all the answers

<p>To have some leeway for negotiations.</p> Signup and view all the answers

<p>Push strategies use direct selling approaches, while pull strategies employ indirect techniques.</p> Signup and view all the answers

<p>Language used, as adapting promotional measures to each local language might be expensive and cause misunderstandings.</p> Signup and view all the answers

<p>A huge devaluation took place that diminished the currency's value against the US dollar by 50%.</p> Signup and view all the answers

<p>In return for a high turnover.</p> Signup and view all the answers

<p>Improved competitiveness and higher market shares.</p> Signup and view all the answers

<p>Access to remote areas.</p> Signup and view all the answers

<p>The financial credibility of the firm, its reputation and trustworthiness, and the availability of sufficient resources to handle distribution.</p> Signup and view all the answers

<p>It is essential to provide timely and reliable after-sales services, including the supply of original spare parts, to ensure customer satisfaction and loyalty.</p> Signup and view all the answers

<p>By managing to distribute a variety of cars ranging from simple to luxurious models, setting up networks of retailers and repair shop partners, and making spare parts widely available.</p> Signup and view all the answers

<p>The reliability of the distribution partner, including their financial credibility, reputation, and trustworthiness, as well as their ability to provide sufficient resources to handle distribution.</p> Signup and view all the answers

<p>It can lead to a loss of customer satisfaction and loyalty, ultimately resulting in a loss of market share.</p> Signup and view all the answers

<p>Reliability, trustworthiness, and the ability to provide sufficient resources to handle distribution and after-sales services.</p> Signup and view all the answers

<p>Problems may arise as brand names can have different meanings or associations in different countries, leading to misunderstandings or prejudice.</p> Signup and view all the answers

<p>Distribution infrastructure varies significantly across countries and within regions, requiring companies to adapt their distribution strategies accordingly.</p> Signup and view all the answers

<p>Internal distribution systems in the food industry ensure that the logistic chain and cool chain are not interrupted, preventing food spoilage and reputational damage.</p> Signup and view all the answers

<p>Delivering products to customers in remote areas can be a huge challenge, requiring companies to adapt their distribution strategies to local conditions.</p> Signup and view all the answers

<p>The internet and e-commerce have changed the distribution landscape, requiring companies to provide quick responses and immediate delivery to customers.</p> Signup and view all the answers

<p>Companies must consider the potential risks and benefits of using a uniform brand globally, including the potential for misunderstandings or cultural connotations.</p> Signup and view all the answers

<p>The use of a family brand name, such as Apple, enables companies to establish a strong brand identity and create customer loyalty across multiple product lines.</p> Signup and view all the answers

<p>Not considering cultural and religious connotations of brand names can lead to misunderstandings, prejudice, or offence, damaging the company's reputation and brand image.</p> Signup and view all the answers

<p>The use of intermediate dealers or distributors can simplify the distribution process and reduce logistical complexities, but may also lead to a loss of control and increased costs.</p> Signup and view all the answers

<p>Companies must consider factors such as product complexity, after-sales services, and customer interaction when deciding whether to use internal distribution systems or engage specialized distributors.</p> Signup and view all the answers