International Marketing Strategies

A structured process for international business where strategies, goals, and actions are clearly defined to handle international business complexities.

The spontaneous action of responding to unexpected opportunities or problems in international markets.

The ability to respond quickly to changing market conditions.

Better financial results and customer satisfaction.

The flexibility and agility to handle unexpected challenges in international markets.

A creative and innovative approach to solving problems in international business.

Focusing on existing customer needs and market trends to improve products or services.

Introducing completely new products or services that change the market landscape.

The ability of a company to react and adapt to changes in foreign markets based on gathered intelligence.

The number of countries a company exports to, demonstrating the breadth of its international reach.

The process of collecting, analyzing, and distributing information about foreign markets to aid in decision-making.

The stage of EMO involving gathering and securing relevant information about foreign markets.

The stage of EMO involving sharing and distributing relevant information about foreign markets to decision-makers.

A significant factor that directly boosts export performance, reflecting the company's ability to act on market intelligence.

A company's international reach, reflected by the number of foreign markets it participates in, greatly impacts its need for intelligence gathering and dissemination.

A dedicated export department within a company facilitates intelligence gathering and dissemination, leading to more effective EMO practices.

The ability to rapidly adjust to changing international market conditions while staying true to your overall strategy.

Involves creating a framework for decision-making that balances planned strategies with impromptu actions.

Exporting companies that effectively use both planning and improvisation tend to be better positioned for success.

Decision theory helps us analyze the interplay between planning and improvisation in export decision-making.

International marketing refers to applying marketing principles across various countries. It sees the global market as diverse yet interconnected. Each nation is a unique part.

It's about understanding how planning and improvisation impact economic performance, customer satisfaction, and the ability to quickly respond to market changes.

The ability to quickly adjust marketing strategies to new market demands, like changing consumer preferences or new regulations.

A market orientation focuses on understanding and reacting to customer needs, competitor moves, and changing environmental factors. It's essential for effective international marketing.

The overall performance of an exporting company in terms of sales, customer satisfaction, and market share.

Export Market Orientation (EMO) prioritizes gathering, sharing, and using information related to exporting to boost performance in international markets.

EMO draws insights from various sources to inform export strategy. Examples may include understanding preferred customer features, competitor pricing, or potential supply chain issues.

EMO requires a systematic approach to gathering, sharing, and responding to export-related information. This ensures flexibility and relevance in international markets.

Companies that commit to the marketing concept, invest in gathering export-related information, and adapt culturally and operationally are more likely to see positive outcomes.

EMO can lead to better export performance, including sales growth and market share. It also helps understand export environments, allowing better resource allocation and strategic planning.

The module explores various aspects of international marketing, starting with market orientation. It covers decision-making strategies, cultural considerations, research methods, market entry, product adaptation, global branding, and even AI in marketing.

The extent to which a culture values individual goals over collective goals.

The degree to which a society accepts unequal distribution of power.

The emphasis on assertiveness, achievement, and competition versus nurturing, cooperation, and quality of life.

The level of tolerance for ambiguity and uncertainty in a culture.

The importance placed on future-oriented behaviors such as perseverance and thrift.

A method used to measure the reliability of a scale or instrument.

A statistical technique used to examine the underlying structure of an instrument and identify relationships among items.

A statistical technique used to assess whether the same measurement instrument performs similarly across different groups of people.

A strategic approach where resources are aligned to achieve long-term goals. It helps optimize resource allocation, but can sometimes hinder quick adjustments to customer needs.

A spontaneous approach emphasizing agility and quick adaptation to dynamic market changes. It allows for innovative solutions but can also introduce chaos if not managed properly.

Improvisation's impact on customer satisfaction, often increased by responsiveness.

Planning positively influences responsiveness, which in turn enhances customer performance.

Combining planning with improvisation can create positive results, but excessive spontaneity or creativity can disrupt planning's structure.

Combining planning with improvisation can create positive results, but action orientation enhances the effectiveness of planning by ensuring decisions are implemented timely and effectively.

Managers should strike a balance between planning and improvisation, leveraging action orientation to improve responsiveness.

Managers should train employees to distinguish between effective and chaotic improvisation.