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Ch 16 - International Marketing

Ch 16 - International Marketing - CHAPTER 16 INTERNATIONAL...

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CHAPTER 16 INTERNATIONAL MARKETING Marketing = process of planning & executing the conception, pricing, promotion & distribution of ideas, goods & services to create exchanges that satisfy individuals & organizational objectives INTERNATIONAL MARKETING AS AN INTEGRATED FUNCTIONAL AREA: MARKETING MIX: How to develop the firm’s product(s) How to price those products How to sell those products How to distribute those products to the firm’s customers ELEMENTS OF MARKETING MIX FOR INTERNATIONAL FIRMS: Product Pricing Promotion Place KEY DECISION MAKING FACTORS: Standardization versus customization Legal forces Economic factors Changing exchange rates Target customers Cultural influences Competition STANDARDIZATION vs CUSTOMIZATION Should the firm adopt an ethnocentric approach? Should it adopt a polycentric approach? Should it adopt a geocentric approach?
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