Marketing Beyond Borders
39 important questions on Marketing Beyond Borders
What is Global Marketing
The coordination of marketing activities within the constraints of the global environment
What is the Liability of Foreignness?
- Domestic companies have the soft skills to deal with their domestic market
Label the 4 different Management perspectives/orientations
- Domestic strategies are seen as superior to foreign ones
- No screening to search for foreign markets
- Small companies
- Markets are dissimilar and hence strategies need to be adapted
- Little room for standardization. No meaningful integration
- Emphasis on coordination and standardization whenever possible
- Regional trade areas are in the focus
- Global marketing through world-wide integration
- Standardization with minimal adaptation
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
What is a proposition?
A suggested scheme or plan of action, especially in a business context
What aspects of consumer behaviors converge vs. diverge?
However, at the micro-level, local differences remain (divergence)
- Hierarchy of needs: Selling value to customers, however, basic axioms may not be true in every culture. Similar kind of needs may be satisfied in very different ways
- Who makes the decision: Consumer is often depicted as individual consumer who makes his/her own decision (however this is not always the case; collectivism)
What is the GMS (Global Marketing Strategy)
Which 3 major perspectives is the GMS based upon?
- Views a firms are pursuing a global marketing strategy if its marketing programs across different countries are standardized, particularly with regards to its product offering, promotional mix, price and channel structure
- A firm configures its value chain activities optimally and coordinate its efforts in different markets. Exploit location-specific comparative advantages through specialization.
- Participation in all major world markets to gain competitive leverage and effective integration of the firm's competitive campaigns across these markets (Operations in different country markets are interdependent).
A broad conceptualization of GMS
- Product Standardization
- Promotion Standardization
- Standardized Channel Structure
- Standardized Price
- Concentration of Marketing Activities
- Coordination of Marketing Activities
- Global Market Participation
- Integration of Competitive moves
Concentration of Marketing Activities
What are the 2 theoretical foundations underlying the relationship between the GMS and a firm's performance
- Focuses on the external market to identify drivers of a firm's strategy and contends that the firms performance is determined by its strategy
- Principle of Coalignment
- Principle determinant of performance is a firm's strategy and primary drivers of the firm's strategy are external market forces
- Uses the firm's internal organizational resources to explain its strategy and performance
- Primary emphasis on the intangible skills and resources of the firm such as organization culture and experience
What is the principle of Coalignment?
It is the fit (or congruence) between a firm's strategy and its environment has significant, positive implications for performance
Explain Psychic vs. Cultural Distance
- Measured on country level
- Measured on individual level
--> Significantly impacts how management formulates global marketing strategy
What is the Forgotten Strategy?
- Measures the differences between countries
- Differences are not negative, but rather a positive that can lead to competitive advantages
What are the 4 arbitrage strategies?
- Culture: to exploit differences in culture across countries/regions
- Administrative Practices: to exploit legal, institutional, and political differences (taxes0
- Geographic distances: taking advantage of geographic (physical) distance for transportation/communication costs
- Economic advantages (ex. labor costs): taking advantage of cross-country differences in economic factors such as cost of labor
What is a mission statement?
- Explicit formulation of what the company stands for
- Linked to a vision statement
- Values your care most about
- Culturally dependent
- Mission statement values should be shared in the foreign companies you want to be successful in
- Likely to be influenced by the company's own cultural glasses
What is Global Brand Leadership?
What are 4 common ideas about Global Brand Leadership?
- Stimulate the sharing of insights and best practices across countries
- Support a common global brand-planning process
- Assign managerial responsibility for brands in order to create cross-country synergies and to fight local bias
- Execute brilliant brand-building strategies
How to deliver brilliance in Global Brand Leadership
- Decide which brand building path (advertising, sponsorship, retail presence, promotion) to follow
- Pressure on agency to have best people work on brand
- Different options
- Measure results
What are key associations with global brands?
- Quality Signal (44%)
- Global Myth (12%)
- Social Responsibility (8%)
What are the reasons for global brands?
- Economies of scale/scope in R&D, manufacturing, and marketing
- Strategic appeal increases as consumers around the world develop similar needs/tastes
- Speed up a brand's time to market by reducing time-consuming local modifications
- Consumer preferences for brands with "global image" even if quality/value are not objectively superior
How does Perceived Brand Globalness create brand value?
- Higher perceived quality
- Higher prestige
- Psychological benefits of PBG per se
What is Local Consumer Culture (LCC)?
What is Global Consumer Culture (GCC)?
Why is a value-based approach good?
- Values are central to a person's cognitive structure
- Values as a goal setting function, which is particularly important
- Values provide a unifying conceptual framework because they can be conceptualized at different levels of abstraction
- Structure and content of national-cultural and general values have been thoroughly elucidated and empirically tested in many countries around the world
- Values tend to be highly stable over time
What are the 3 levels of Values? Explain them.
- Collectively held beliefs that are generally shared among people living in the same country about abstract goals and models of conduct that transcend specific situations and behavioral domains.
- Survival --> self-expression (Inglehart)
General Values
- Individually held beliefs about abstract goals and modes of conduct that promote these goals that transcend specific situations and behavioral domains
- Power, universalism, security (Schwartz)
Consumer domain specific Values
- Individually held beliefs about concrete goals and modes of conduct that promote these goals in the consumer domain
- Materialism, environmentalism
Explain the mechanisms of Country Of Origin (COO)
- COO is a cue for product quality; it is used as a signal for overall product quality and quality attributes such as reliability and durability
Affective
- COO has symbolic and emotional value to consumers
- An image attribute that links the products to symbolic and emotional benefits, including social status and national pride
Normative
- Consumers hold social and personal norms related to COO
- Purchasing domestic products may be regarded as a right way of conduct, because it supports the domestic economy. By the same token, consumers may refrain from buying goods from countries with objectionable activities or regimes
Explain Disjoint Model of Agency
- Agency derives from within the individual
- Good action stem from one's personal preferences
- Choice allows people to express their preferences and to influence the environment
- Usually results in a greater number of perceived choices
- (US American Context)
Explain Conjoint Model of Agency
- Normatively good actions are those that are responsive to the situation, to social roles, and to expectations of other individuals
- Personal choice is less important
- (Indian Context)
What are the steps in Market Research?
- Information requirement
- Problem definition
- Choose unit of Analysis
- Examine Data Availability
- Assess value of research
- Research design
- Data Analysis
- Interpretation and Presentation
Which types of data can be used? Explain them.
- Information that is collected first-hand generated by original research tailor-made to answer specific research questions
- Helpful for tactical decisions
Secondary Data
- Information that has been gathered for another purpose and is readily available
- Helpful for strategic decisions
Discuss the types of Primary Research
- Holistic view of research problem
- Exploratory
- Small in sample size
- Quantify the data
- Descriptive/Causal
- Larger in sample size
Define International Market Research
Any research that:
- Involves the collection and analysis of information and the development of inferences about consumers/businesses in two or more countries within the context of the same project.
- Involves collection of information on a single country by a researcher/agency from another country
- Involves the collection of data on immigrant population in order to better understand how consumption patterns change when individuals from a foreign culture react to a new country/cultural context
What are the differences between International market research and Domestic Market research?
- New variables
- New environmental factors
- Broader definition of competition
- Increased number of variables
Explain the different Research Approaches
EMIC: attitudes/behavioral phenomena are expressed in a unique way in each culture
- Adaptation of research instruments to different cultures
How can we overcome the Self Reference Criterion?
- Define the marketing research problem in terms of domestic environmental and cultural factors
- Define the marketing research problem in terms of foreign environmental and cultural factors
- Isolate the self-reference criterion influence on the problem and examine it carefully
- Redefine the problem with SRC influence
Explain Equivalence and its different types
Types
- Conceptual equivalence: Do the concepts have similar meanings across cultures?
- Translation equivalence: Back-translation to assure translation equivalence
- Measure equivalence: Can the concepts studied be measured with similar measures?
- Perceptual equivalence: Are concepts perceived similarly across cultures?
- Metric equivalence: Do the scores given by respondents have the same meaning?
- Comparability of sample
- Data collection equivalence: Biases from relationship with interviewer, secrecy/unwillingness to answer, reluctance to answer, etc.
- Response style equivalence: Yea-saying patterns (nay), non-contingent responses, item non-response pattern, extreme response style, etc.
What is rural DNA?
The combinations of choices results in 4 possible categories, which ones
- Prefer host country products
- High affiliation with host culture - Low desire to maintain home identity
- Buy home & host country products
- High affiliation with host culture - High desire to maintain home identity
- Don't consider COO
- Low affiliation with host culture - Low desire to maintain home identity
- Prefer home country products
- Low affiliation with host culture - High desire to maintain home identity
What are the 4 questions one should ask to explore the potential of diaspora marketing?
- Does the brand have universal appeal?
- Is diaspora large enough?
- Will the diaspora's distribution allow the brand to expand nationally?
- Will the diaspora's socioeconomic profile help the brand?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
