Summary: Global Marketing 2

Read the summary and the most important questions on Global Marketing 2

• 1 Lesson 1

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• What 5 points does Internationalization contain?

  1. offshore (outsourcing) production
  2. offshore (outsourcing) product design
  3. offshore (outsourcing) customer service
  4. International trade
  5. avoiding taxes by going offshore

• Why does internationalization fail? 3 points

  1. Quality problems
  2. Communication problems
  3. Consumer prefers products/services from: Own country, more economically developed countries, countries with closer cultural distance.

• Name five mistakes in International marketing.

  1. Failure to adapt to local markets
  2. Brand names do not translate
  3. Keyword translation issues.
  4. No separate local campaigns
  5. Insufficient research into local culture.

• What is the definition of International marketing?

  Finding and satisfying global customers needs better than the competition and coordinating marketing activities within the constraints of the global environment.

• What are the five parts of the Decision model in global marketing?

  1. The decision whether to internationalize
  2. Deciding which markets to enter
  3. Market entry strategies
  4. Designing a global marketing program
  5. Implementing and coordinating global marketing program

• What are the four orientations in International Marketing?

  Ethnocentric
  Polycentric
  Regiocentric
  Geocentric

• 2 Lesson 2

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• What are challenges in global marketing research? 7 in total.

  Assumption instead of research
  cultural barriers
  Bureaucracy
  security issues
  infrastructure
  low levels of literacy
  legislation

• What are the four problems with secondary research in foreign markets?

  Non availability of data
  Reliability of data
  Data classification
  comparability of data

• What do companies need to track for sales data?

  Sales by country
  Sales by product
  Sales by distribution channel
  Pricing information, the elasticity of demand
  Sales representatives

• We try to understand other cultures by looking at our own, this is called Self Reference Criterion. Explain the four steps.

  Define from home perspective
  Define from host perspective
  Isolate and examine SRC influence
  Redefine problem without the SRC influence