Chapter1StudyGuideformatted - Chapter 1: I. II....

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Chapter 1: I. International Marketing defined (pg. 9) a. same as domestic marketing only in other countries II. The International Marketing task (pg.10-13) a. Controllables – can be altered in the long run and usually in the short run to adjust to changing market conditions, consumer tastes, or corporate objectives i. Firm characteristics ii. Price iii. Product iv. Promotion v. Channels of distribution vi. research b. Uncontrollables – uncontrollable elements of all business environments c. exhibit 1.3 pg. 10 i. political/legal forces ii. economic forces iii. cultural forces iv. level of technology III. Self-reference criterion/ethnocentrism (pg.15) a. SRC: unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions b. Ethnocentrism: the notion that one’s own culture or company knows best how to do things i. ethnocentric – they think the rest of the world should revolve around their culture ii. the way to not be ethnocentric is to live and study other cultures IV. Strategic Orientations (pg.22-23) a. Domestic Market Extension international operations as secondary to and an extension of its domestic operations; the primary motive is to market excess domestic production. Minimal if any efforts are made to adapt the marketing mix to foreign markets. Market to foreign customers in the same manner as the domestic customers. i. If DME is going to be successful the foreign market must be very similar in all the uncontrollable ways (culture, legal, infrastructure, etc…). Very rarely used. ii. Ex. US and Canada b. Multidomestic many home markets, adaptation to local country markets. Market on a country-by-country basis, with separate marketing strategies for each country i. A company is competing in many other countries and in each of those countries they have adapted all the controllables (4 P’s) so
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that their business in that country looks like it’s a local business. In each country product is different because it is adapted to that country. ii. No company is 100% multidomestic c. Global treat whole world as one market, and the firm develops a global marketing strategy. Being global is a mindset, a way of looking at the market for commonalties that can be standardized across regions or country-market groups i. Same thing all over the world. Same product, same price, same distribution channel, etc… (economies of scale) = cheaper ii. Selling price is lower, very competitive iii. No company is 100% global Consumer want both multidomestic and global. All companies end up somewhere in between. V. McDonald’s in India video a. Objective to become part of the local culture and community. Future generations will think of McDonalds as their own home company (this is multidomestic). b.
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This test prep was uploaded on 03/18/2009 for the course MKTG 4400 taught by Professor Engel,stev during the Fall '07 term at Colorado.

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Chapter1StudyGuideformatted - Chapter 1: I. II....

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