Inernational Business

  1. Standardization approach
    Policy making minimal or no changes ti the marketing mix for the global market place

    Must pick products that this would apply to
  2. Multidomestic approach
    Policy adapting the marketing mix to suit each country entered

    Adpot to local conditions
  3. Globalization approach
    Creation of regionally or globally similar marketing mix strategy
  4. Product Strategies
    Standardization and adaptation
  5. Factors that encourage standardization
    • Economies in product R & D
    • Economies of scale in production
    • Ecomonies in marketing
    • Control of marketing programs
    • "Shrinking" of the world marketplace
  6. Factors encouraging adaptation
    • Differing use conditions
    • government and regilatory influences
    • differing buyer behavior patterns
    • Local initiative and motivation implermentation
    • Adherence to the marketing concepts
  7. Positioning
    The perception by consumers of a firms' product in relation to competitors' products
  8. Pricing strategy
    • Standard worldwide pricing
    • Dual pricing
    • Cost-plus method
    • marginal cost method
    • market differentiated pricing
    • price escalation
  9. Standard world wide pricing (Pricing strategy)
    a price setting strategy based on average unit costs of fixed, variable, and export related costs.
  10. Dual pricing (Pricing strategy)
    A price setting startegy in which the export price differes from the domestic price
  11. Cost-Plus method (Pricing strategy)
    a pricing policy in which there is a full allocation on foreign and domestic costs to the product
  12. Marginal Cost method (Pricing strategy)
    this method considers the direct costs of producing and selling goods for exports as the floor beneath which prices cannot be set
  13. Market differentiated pricing (Pricing strategy)
    a price-setting strategy based on market specific demand rather than cost
  14. Price escalation (Pricing strategy
    the increase in export prices due to additional marketing costs related specifically to exports
  15. Foreign Marketing Pricing- Gray Marketing
    The marketing of authentic legally trademarked goods through unauthorized channels
  16. Transfer price
    The pricing of products as sold by a firm to its own subsidaries and affililates
  17. The five determining factors of Foreign Market pricing
    • 1.Corporate objectives
    • 2. costs
    • 3. customer behavior and market conditions
    • 4. Market stucture
    • 5. envirometal constraints
  18. Promational strategies
    • Media strategy
    • Creative strategy
    • Organization of the promational program
  19. Media Strategy (Promational strategies)
    strategy applied to the selection of media vehicles and the devolopment of a media source
  20. Global Media (Promational strategies)
    media vehicles that have target audiences on at least 3 continents and have a central buying office for placements
  21. Creative Strategy (Promational strategies)
    developnemt of the content of a promotional message such as an advertisment, publicity release, sales promotion, or web based promotion
  22. Personal selling
    marketing efforts focusing on one on one effortd with customers
Card Set
Inernational Business