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Marketing2 #3

QuestionAnswer
What drives Globalization (5) 1,Trade liberalization 2,General agreements on tariffs & trade 3,Technology-Internet 4,Transportation 5,Costs
What does internationalization mean the company expands its activities into international markets
What are Macro-enviromental issues of countries (4) 1,Economic 2,Socia-cultural 3,Political-legal 4,Technological
What are Market Attractiviness factors in Micro-environmental issues (5) 1,Market size and growth rate 2,competition 3,costs of serving the market 4,profit potential 5,market access
What are Company capability profile factors in Micro-environmental issues (4) 1,Skills 2,Resources 3,Product adaptation 4,competitive advantage
What are 3 strategies to enter a foreign market 1,Exporting (Direct & Indirect) 2,Cooperative (Licensing,Franchising,Joint Ventures) 3,Direct investment (new facilities, acquisitions)
What is in exporting strategy 1,Indirect Exporting 2,Direct Exporting 1,Indirect Exporting involves the use of independent organizations within the exporter´s domestic market 2,Direct Exporting the manufacturer sells directly to an importer, agent or distributor located in the foreign market
What are 3 cooperative strategies to enter a foreing country market + description 1,Lincensing foreign lincensor provides a local licensee with know-how/technologies 2,Franchising form of licensing where a package of services is offered by franchisee (Mäcci) 3,Joint Ventures strategic alliances between two or more companies
What are advantages (3) & disadvantages (2) of licensing Advantages 1,low initial capital investment 2,lower risk 3,good if other strategies do not apply Disadvantages 1,loss of control of production 2,loss of know-how & technology
What are advantages (3) & disadvantages (1) of franchising Advantages 1,knowledge of local preferences 2,ensured quality of operations 3,overcome resource constraints Disadvantages extensive coordination & likelihood of inconsistency in offerings
What are two types of Joint Venture + description 1,Contractual Joint Venture no joint company is formed 2,Equity Joint Venture a joint company is former, better to join "hard" markets
What are 2 direct investment strategies 1,Development of new facilities (costly & high profit potential) 2,Acquisition of foreign producer (easier & less risky)
What are characteristics of Globalisation/Standartisation marketing strategy(3) 1, global low-cost production & selling 2,global rollout of concepts/high-speed 3,low complexity
What are characteristics of Localisation/Differentiation marketing strategy (3) 1, culturally close to the costumer 2,flexible response to local customers needs 3,regional & local market penetration
What is Glocalization strategy (3) 1,marketing strategy is defined globally 2,marketing mix is decided locally 3,global brands combine global ideas with a local execution & adaptation
What is a useful rule when deciding between standardization vs adaptation standardize where you can, stay local where you must
What are benefits of standartization (4) 1,economies of scale 2,lower marketing costs 3,consistency in brand image 4,uniformizy of marketing practices
What are possible difficulties in creating fully standardized marketing mix (5) 1,culture & consumption patterns 2,language differences 3,regulations 4,media availability & promotional preferences 5,organizational structure & culture
How do we adapt product of marketing mix (4) 1,Brand name 2,features 3,ingredients 4,packaging ect.
How do we adapt price of marketing mix (3) 1,structure of local industry (supply chain & competitiors) 2,consumer characteristics (income & price sensitivity) 3, adapt to quotas, taxes, currency etc.
How do we adapt place of marketing mix (2) 1,bargaining power of overseas distributors 2,standardization through dealerships
How do we adapt promotion of marketing mix (5) 1,translated advertising messages 2,legal issues 3,global logos & slogans 4,salespeople 5,country of origin role
Created by: semester1.IBWL
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