Samenvatting Global Marketing

ISBN-10 1292100117 ISBN-13 9781292100111
286 Flashcards en notities
3 Studenten
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Dit is de samenvatting van het boek "Global Marketing". De auteur(s) van het boek is/zijn Svend Hollensen. Het ISBN van dit boek is 9781292100111 of 1292100117. Deze samenvatting is geschreven door studenten die effectief studeren met de studietool van Study Smart With Chris.

Samenvatting - Global Marketing

  • 1 Lecture 1 + Practise exam

  • According to Ghemawat a global strategy must be based on?
    Understanding differences and distances among people, cultures and places
  • Critical barriers in the process of internationalization may generally be divided into:
    General market risk, commercial risk and political risk
  • What is the most appropriate approach when an organization has no or little experience in international markets?
    Strategic alliance
  • Introducing a standard product with the same promotion strategy throughout the world market is known as:
    Straight extension
  • How does Nike manufacture
    They outsource
  • What is polycentric orientation
    transnational organisation / multinational
  • Which rule is where the decision maker uses the same entry mode in all foreign markets and ignores the heterogeneity on individual foreign markets?
    Naïve rule
  • The informal way of measuring purchasing power for two currencies:
    Big Max index
  • High degree of globalism refers to
    Many interdependencies between markets, customers and suppliers, and many small players in the industry.
  • What is the decision model in global marketing?
    1. Decision whether to internationalize
    2. Which markets to enter
    3. Market entry strategy
    4. Design global marketing programme
    5. Implement programme
  • What are the four orientations in international marketing?
    Ethnocentric, polycentric, regiocentric, geocentric
  • What is ethnocentric orientation?
    homecountry of business is the best way to do business. Opportunity abroad is ignored.
  • What is regiocentric orientation?
    Company bases marketing strategy on group of countries.
  • What is geocentric orientation?
    Combination of ethnocentric (home country) and polycentric (host country). Logic behind is that there are differences and similarities in the world which are covered with this strategy.
  • Barriers of internationalisation when initating:
    Insufficient resources, lack of connections, lack of access to distribution channels.
  • Barriers of internationalisation when in process:
    Market risk, commercial risk, political risk
  • What is international marketing?
    Consist of finding and satisfying global customers needs better than the competition and coordinating marketing activities within the constraints of the global environment.
  • What are typical failures of international marketing?
    1 failure to adept to local markets
    2 brand names do not translate
    3 keyword translation issues
    4 no separate local campaigns
    5 Insufficient research into local culture3
  • Proactive Motives of internationalization:
    Profit and growth goals. economies of scale, tax benefits
  • Reactive motives
    Competitive pressure, overproduction/ excess capacity, unsolicited orders
  • 2 Lecture 2

  • how is decided which markets to enter?
    1 Global marketing research
    2 Economic forces and political/legal forces
    3 Sociocultural forces

    Or Preliminary screening and fine grained screening
  • Challenges in global marketing research:
    Assuming instead of researching
    cultural barriers
    security issues
    low levels of literacy
  • Problems of Secondary research in foreign markets:
    Non availability of data
    reliability of data
    data classification
    comparability of data
  • What do companies track?
    Sales by country
    Sales by product
    Sales by distribution channel
    Pricing information
    Sales employees
  • How should companies manage cultural differences?
    Define problem from home perspective
    Define problem from host perspective
    Isolate and examine SRC influence
    Redefine the problem without the SRC influence
  • What is an international market?
    A country
    Group of countries
    Group of customers with similar characteristics from several countries
    (borders are artificial)
  • What does preliminary screening consist of?
    Political risk
    Business environment risk index (BERI)
  • What does fine grained screening consist of?
    Involves firms competences and competitive power
  • Top 6 indicators for BERI:
    Political stability
    Economic strength 
    Currency convertibility
    labour cost
    short term credit
    long term loans
  • What is BERI total weight?
  • What is BERI rating?
  • How does the BERI score work?
    Max 100 points. >80 favourable environment for investors
    70-79: not so favourable
    55-69: immature economy, NIC
    40-54: High risk country, less developed country
    <40 Very high risk, only commit capital for extraordinary reason
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Laatst toegevoegde flashcards

Solutions for intangibility:
Focus on tangible cues
Use personal sources
Stimulate Word of mouth
create company image
Communicate after sale
Problem with heterogeneity
Difficult to standardize and control quality
Communication is difficult
Problem with Simultaneous production and consumption
Customer takes part in production process
Other consumers are co-producers
Problems with mass production
not possible to keep in stock
Problem with perishability
Cant be stored
Cant be returned or resold
Restricted in time and space
Problem with intangibility
Cannot be seen touched or seen beforehand
no patents
Pricing is difficult
Differences between goods and services
Simultaneous production and consumption
The effects of cultural dimensions:
Uncertainty avoidance
power distance
Long term orientation
What is considered instrumental strategy?
What is considered representational strategy?
Understanding and problem solving
Two approaches to the negotiation process;
Representational strategies
Intstrumental strategies