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Chapter 3 new - communication systems’ quality o Internet...

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Think Globally Act Ethically Chapter Three Chapter Objectives Understand the role of business ethics in organizations Understand the big picture of international marketing Understand how economic, political, legal, and cultural issues influence global marketing Explain strategies firms can use to enter the global markets Understand the arguments for standardization versus localization in global markets Ethics in Marketing Making the product safe, pricing it fairly, promoting ethically (puffery and corrective advertising), and making product available fairly (slotting allowances) Social Responsibility o Environmental stewardship, green marketing, cause marketing. Factors to Consider in Entering International Markets Market Conditions o Domestic market demand o Competitive advantage in foreign markets o Market potential abroad Economic Environment o Indicators of economic health (GDP & GNP) o Demographic characteristics (birth rates, size of different age groups, etc.) o Economic infrastructure (Country’s distribution, financial, &
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Unformatted text preview: communication systems’ quality) o Internet coverage o Levels of economic development (LDC, developing, developed) • Political/Legal Environment o Economic sanctions, nationalization, expropriation o Product requirements, local content rules o Human rights issues • Cultural Environment o Values, norms, customs, symbols, superstitions o Language o Ethnocentricity o Cultural change Evaluate alternatives for international market entry • Direct ownerships • Strategic alliances • Contractual agreements (licensing, franchising, subcontracting) • Exporting • Domestic Standardization versus Localization • Efficiency versus customization Global Implications for the Marketing Mix • Product (extension, adaptation, invention) • Price (transportation costs, tariffs, exchange rates, gray marketing, dumping) • Promotion (standardization versus localization) • Distribution...
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