Badm 320 Exam 1 flashcards _ Quizlet

They hope that benefits from alliance to accomplish a

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Unformatted text preview: th a local firm to form new company where ownership, control and profits are shared. Direct Investment Firm maintains 100% ownership of plants, q 320- exam- 1- flash- car ds/ Exporting Franchising Strategic Alliance Joint Venture Direct investment 9/12 9/6/13 Badm 320 Exam 1 flashcar ds | Quizlet operational facilities, offices. High risk, high r e w a r d. What are the 2 components of choosing a global marketing strategy? 1. Determine target markets to pursue 2. Develop a marketing mix that sustains competitive advantage over time Standardized marketing mix Using domestic marketing mix for all of the company's international markets. Adapted marketing mix Adjusting the elements of marketing mix for each unique country. What are the barriers to international marketing? 1. Tariffs - tax on imported goods 2. Quotas - Maximum quantity of product that may be brought into country during time period 3. Embargo - Ban on import of selected types of g o o ds 4. Exchange control - (Government limits amount of foreign or local currency that may be converted, fixed exchange rate, ban use of foreign currency in country) 5. Non-tariff trade barriers - non monetary barrier to foreign product, based on product standard or feature. Globalization Process by which goods, services, capital, people, information, and ideas flow across national borders. Exchange The trade of things of value between a buyer and a seller so that each is better off as a result. Target market Specific identifiable group of potential buyers with common needs or characteristics the organization chooses to serve. (Lexus chooses target market (wealthier people) for its expensive hybrid car. Not just the group of people who want the item (many want the hybrid, not all can afford it). Types of decisions related to "Product" in marketing mix Variety quality de s i g n features packaging s e r vi c e s q 320- exam- 1- flash- car ds/ 10/12 9/6/13 Badm 320 Exam 1 flashcar ds | Quizlet Types o...
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This note was uploaded on 01/25/2014 for the course BADM 320 taught by Professor Staff during the Winter '08 term at University of Illinois, Urbana Champaign.

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