5 Questions
Which factors are considered in the wheel of international marketing?
Firm, domestic, foreign
Which term describes a shift towards a slower, more localized approach to economics?
Slowbalization
Which opportunities are associated with technology?
E-commerce, global communication, increased infrastructure
What is the international diffusion of new products to and within overseas markets for consumption called?
International diffusion
What are the political considerations in international marketing?
Political stability, social unrest, frequency of changes
Study Notes
International Marketing Factors
- The wheel of international marketing considers factors such as culture, economics, politics, technology, and law.
Economic Approach
- The term "degrowth" describes a shift towards a slower, more localized approach to economics.
Technology Opportunities
- Technology provides opportunities such as increased market reach, improved communication, and enhanced data analysis.
New Product Diffusion
- The international diffusion of new products to and within overseas markets for consumption is called "global product diffusion".
Political Considerations
- Political considerations in international marketing include trade policies, government regulations, and political instability.
Test your knowledge of the Wheel of International Marketing and its components with this quiz. Assess your understanding of firm controllables, domestic forces, and foreign factors that influence marketing in another country. Topics covered include price, product, promotion, distribution, legal factors, economic climate, and more.
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