What three things must we take into consideration when deciding to move into a foreign market?
What is Economic, Political-Legal, and Cultural Factors
100
What are the three main ways to enter a new global market?
What is Exporting, Joint Venture, Direct Investment
100
What are the two extreme strategies used to decide how to market in a new country?
Standardized and Adapted Strategies
100
What are the four elements of the mix?
What is Product, Promotion, Price and Place
100
What are the three dimensions that consumers across the globe use to evaluate global brands?
Quality signal, Social Responsibility, and Global Myths
200
What are the two things used to evaluate an economy's attractiveness as a market?
What is Industrial Structure and Income Distribution
200
Which strategy to enter a new market would be described as "make it here, market it there"?
What is Exporting
200
When considering the product/promotion chart in our notes, which strategy is used when introducing the SAME PRODUCT with the SAME PROMOTION?
What is Straight Extension
200
What factors result in companies having to change the price of products when they move into a new market?
Brand perception may be different in the new market, exchange rate issues, tariffs, transportation costs, distributor margins, etc.
200
When consumer's opinions on global brands are grouped regardless of their home country, what are the four segments that emerge?
Global Citizens, Global Dreamers, Antiglobals, Global Agnostics
300
Which factor would be considering how, when, and why consumers in other countries use a product?
What is Cultural Factors
300
Which strategy to enter a new market involves the greatest amount of involvement and risk?
What is Direct Investment
300
When considering the product/promotion chart in our notes, which strategy is used when introducing the SAME PRODUCT with a DIFFERENT PROMOTION?
What is Promotion Adaptation
300
What term is used to describe a company considering the entire global value delivery network, including channels between nations, and channels within nations?
What is a whole-channel view
300
Which consumer segment holds all brands to the same standards when making purchasing decisions and they do not believe that a global brand merits special consideration
What is Global Agnostics
400
What kind of political and legal factors must companies consider?
The country's attitude towards international buying, government bureaucracy, political stability, and monetary regulations
400
Which strategy to enter a new market involves working with a foreign company to produce or market a product or service?
What is Joint Venture
400
When considering the product/promotion chart in our notes, which strategy is used when introducing an ADAPTED PRODUCT with a DIFFERENT PROMOTION?
What is Dual Adaptation
400
What is an example of how a company adapted to the challenges of the distribution channel when moving into a foreign market?
Coca-Cola adapted their distribution by using small delivery trucks, bikes, donkeys, scooters, and even on foot to remote locations
400
Consumers in post-world war II want global myths that represented american culture, is that wanted today?
No- consumers want global myths that create a global identity and don't push american values
500
What are the four different economic industrial structures?
Subsistence economies, raw material exporting economies, emerging economies, and industrialized economies
500
What are the different types of joint ventures?
Licensing, Management Contracting, Contract Manufacturing, and Joint Ownership
500
Starbucks uses which kind of strategy in the global market?
What is Standardized; Straight Extension
500
Apple iPads may sell for $600 in the US, but they sell them for $750 in many European countries to account for margins, tariffs, and added transportation costs. This is called?
What is Price Escalation
500
What are the 5 responsibilities/opportunities transnational companies must consider?
Think Globalness, Manage the Dark Side, Build Credible Myths, Treat Antiglobals as Customers, Turn Social Responsibility into Entrepreneurship