International Marketing Strategies PDF

Chapter 12\ \ standardization-marketing strategies used in international markets that are the same as those used in its domestic market.\ \ adaptation-marketing strategies used in international markets that are different from those used in its domestic market.\ \ glocalization-the marketing strategy...

Chapter 12\ \ standardization-marketing strategies used in international markets that are the same as those used in its domestic market.\ \ adaptation-marketing strategies used in international markets that are different from those used in its domestic market.\ \ glocalization-the marketing strategy that involves pursuing a standard- ization strategy in foreign markets when possible and an adaptation one when necessary.\ \ global product-a product that can be sold in most world markets.\ \ concept testing-the step in the new-product development process in which the new product idea is pre- sented to a small sample of the International market to gauge Its reaction.\ \ business analysis-the step in the new-product development process in which projections of potential reve- nues and profits for a potential new product are made.\ \ market testing-the step in the new-product development process in which a company will develop the marketing mix for a new product.\ \ commercialization-the last step in the new-product development process in which the new product is manufactured, the marketing mix is finalized, and the product is introduced to the foreign market.\ \ product life cycle (PLC)-a depiction of the sales and profits for a new product over its lifetime.\ \ product elimination (PE)-a formal, written procedure to determine which of a com- pany\'s products should be dropped.\ \ reverse strategy-development of a new product first for emerging markets, then selling it to developed markets.\ \ vertical publications-magazine that targets specific industries?\ \ horizontal publications-magazine that targets a spe- cific job in various industries.\ \ digital marketing-is the promotion of products and services using the Inter- net or other forms of digital communication.\ \ search engine marketing (SEM)-Involves having a company\'s product listed on a search engine results page.\ \ \ indirect strategy-the use of channels of distribution to market products and services to international markets.\ \ direct strategy-bypassing channels of distri- bution by using marketing and sales offices located in foreign countries.\ \ agent-a channel of distribution that represents a company in a foreign market and is paid by commission.\ \ distributor-a channel of distribution that purchases products from a company doing business in a foreign market and then resells them to other buyers.\ \ physical distribution-storage and transportation operations that are used in moving products to a foreign market.\ \ freight forwarder-agents for companies shipping products overseas who are chiefly involved with physical distribution activities and documentation.\ \ containerization-shipping products to overseas markets in trailer-sized containers.\ \ intermodal transport-international shipments using different modes of transportation.\ \ \ gray marketing-unauthorized importers resell- ing a manufacturer\'s product in the manufacturer\'s domestic market at a price less than what the manufacturer charges in that domestic market.\ \ dumping-a price in a foreign market that undercuts the prices of compa- nies competing there.\ \ transfer prices-a price a company charges its overseas subsidiaries.\ \ arms\' length price-a price that an overseas market is willing to pay.\ \ reliability-performance of various aspects of customer service that meets customer expectations.\ \ share of wallet-the percentage of purchases in a category a buyer gives to one vendor. empowerment-aspect of customer service that allows employees to take care of customer problems immediately, without having to consult superiors.