International Marketing Strategies: A Comprehensive Guide

International Marketing Concepts

Sovereignty

Sovereignty refers to the powers exercised by a state in relation to other countries and the supreme powers exercised over its own members.

Conciliation

Conciliation is a nonbinding agreement between parties to resolve disputes.

Ownership Under Common Law

Under common law, ownership is established by use and registration.

Litigation in International Disputes

When all else fails in an international commercial dispute, litigation is the final recourse.

Cybersquatting

Cybersquatters buy and register descriptive nouns, geographic names, names of ethnic groups and pharmaceutical substances, and other similar descriptors and hold them until they can be sold at an inflated price.

Islamic Law

Islamic law is known as the Shari'ah.

Antitrust Laws

The first objective of antitrust laws is to protect American consumers by ensuring that they benefit from products and ideas produced in a competitive market.

Protectionism's Impact

Protectionism, the economic policy of restraining trade between nations, can lead to a decrease in the standard of living and real wages.

Domestication vs. Expropriation

Discussion

A country would rather domesticate than expropriate a company because expropriation can hurt foreign investment in that country in the future. Companies are less likely to invest in countries where there is a chance of being expropriated.

Types of Governments

Three common types of governments are democracy, communism, and socialism.

Local Resource Utilization

Using locally produced resources and creating jobs is a beneficial practice. TRUE

Development of Global Marketing

Two events or trends that contributed to the development of global marketing are the advancements in technology and the fall of the USSR.

Obstacles to Success in International Marketing

A person's self-reference criterion (SRC) and ethnocentrism are the primary obstacles to success in international marketing.

Uncontrollable Factors in Marketing

Political/legal forces and the economic climate are two uncontrollable factors in marketing. FALSE

Controllable Factors in Marketing

Price, product, and promotion are controllable factors in marketing.

Universality of Marketing

Discussion

Yes, the marketer's task is the same whether applied in Florida or Tanzania. Marketing principles are universal, and the processes should be very similar. However, the political, legal, and economic factors would be different and will have different results in each country.

International Marketing Research

Secondary Research

If you conduct marketing research with the help of some data that has already been collected by others, you are conducting secondary research.

Survey Research

The survey research technique is most likely to be used when the research objective is to describe characteristics of a large population.

Determining Information Sources in Research

When Mary is conducting marketing research in a foreign market, she must determine the sources of information to fulfill the research objectives.

First Step in the Marketing Research Process

The first step in the marketing research process is to define the research problem and establish research objectives.

Steps of the Research Process

1. Define the research problem and establish research objectives.
2. Determine the sources of information to fulfill the research objectives.
3. Consider the costs and benefits of collecting the information.
4. Gather the relevant data from secondary or primary sources, or both.
5. Analyze, interpret, and summarize the results.
6. Effectively communicate the results to decision-makers.

Back Translation

In the back translation method, the questionnaire is translated from one language to another, and then a second translator translates it back to the original language. This process helps ensure that the questionnaire is accurately translated.

Demand Forecasting Methods

Expert opinion and analogy are two methods of demand forecasting.

Survey Method

Through the survey method, usually, a large number of respondents are asked about their preferences, intentions, and behaviors.

Problems with Secondary Data

Secondary data may present problems such as availability, reliability, comparability, and validation. All of the above.

Brand Positioning and Product Adaptation

Positioning

Positioning refers to consumers' perception of a brand as compared with that of competitors' brands. TRUE

Internalization Motivations of Proactive SMEs

Tax benefits and economies of scale are two major internalization motivations of proactive SMEs.

Product Adaptation

Product adaptation is the process of modifying an existing product so that it is suitable for different customers or markets.

Internalization Motivations of Reactive SMEs

Excess capacity and overproduction are two major internalization motivations of reactive SMEs.

Benefits of Product Standardization

• Economies of scale
• Faster setup time
• Single coherent global image

Disadvantages of Product Adaptation

• Higher costs
• Time-consuming
• Poor speed to market
• Difficulty in knowing what consumers really want

Internal Change Triggers

New management or new employees and significant events are examples of internal change triggers.

Stages of Exporting

It would be fair to say that the firm that has desires of exporting but has little or no knowledge of how to start is in Stage 2, the partially interested firm.

Product Adaptation for Consumer Goods

Consumer goods require product adaptation because of their higher degree of cultural grounding. TRUE

Counterfeit Goods

Counterfeit goods are any goods bearing an unauthorized representation of a trademark, patented invention, or copyrighted work.

Impact of Local Factors on Product Adaptation

Local behavior, tastes, attitudes, and traditions do affect the decisions marketers make about product adaptation. FALSE

Actions Against Counterfeiting

One type of action companies can take against counterfeiting is legal action/prosecution.

Functions of Packaging

Packaging serves three major functions: protection, promotion, and user convenience.

Package Aesthetics

Package aesthetics must be taken into consideration. TRUE