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Exam 3 Int'l Mktg
Chapter 9 - 12
| Term | Definition |
|---|---|
| licensing | A contractual market entry strategy whereby one com- pany makes an asset available to another company in exchange for royalties or some other form of compensation. |
| contract manufacturing | A licensing arrangement in which a global company provides technical specifications to a sub- contractor or local manufacturer. |
| Disadvantage of contract manufacturing | companies may open themselves to public scrutiny and criticism when workers in contract factories are poorly paid or labor in inhumane circumstances. |
| franchising | A contract between a parent company franchisor and franchisee that allows the franchisee to operate a business developed by the franchisor in return for a fee and adherence to franchise-wide policies and practices. cont. |
| franchising continued | This is an appropriate entry strategy when barriers to entry are low yet the market is culturally distant in terms of consumer behavior or retailing structures. |
| foreign direct investment (FDI) | The market entry strategy in which companies invest in or acquire plants, equipment, or other assets outside the home country. |
| greenfield investment aka greenfield operations | A market entry strategy that entails foreign direct investment in a factory, retail outlet, or some other form of new operations in a target country. |
| equity stake | Market entry strategy involving foreign direct investment for the purpose of establishing partial ownership of a business. |
| joint venture | A market entry strategy in which two companies share ownership of a newly created business entity. |
| full ownership | Market entry strategy involving foreign direct investment for the purpose of establishing 100 percent control of a business. |
| chaebol | In South Korea, a type of corporate alliance group composed of dozens of companies and centered around a central bank or holding company and dominated by a founding family. |
| keiretsu | In Japan, an enterprise alliance consisting of businesses that are joined together in mutually reinforcing ways. |
| strategic alliances | A partnership among two or more firms created to minimize risk while maximizing leverage in the marketplace. |
| global strategic partnerships (GSPs) | A sophisticated market entry strategy via an alliance with one or more business partners for the purpose of serving the global market. |
| country and market concentration | A market expansion strategy that involves targeting a limited number of customer segments in a few countries. |
| country and market diversification | The corporate market expansion strategy of a global, multibusiness company. |
| country concentration and market diversification | A market expansion strategy in which a company serves many markets in a few countries. |
| country diversification and market concentration | A market expansion strategy whereby a company seeks out the world market for a product. |
| market entry strategies | The manner in which company management decides to pursue market opportunities outside the home country. |
| market expansion strategies |
Created by:
rlingle
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