International Marketing
It consists of the activities, institutions, and processes across national borders that create, communicate, deliver, and exchange offerings that have value for stakeholders and society.
Export-import trade, licensing, joint ventures, wholly-owned subsidiaries, turnkey operations, and management contracts are examples of this.
What is international marketing?
This three-word phrase means “think globally, act locally” - blending international reach with local adaptation.
- when a global company or organization tailors its products, marketing, or operations to meet local tastes, regulations, and cultural norms while still maintaining its overall global brand identity.
What is glocalization?
Its core misson is to facilitate international trade and investment.
What is the World Trade Organization (WTO)?
The belief that one's own culture is superior to others.
What is ethnocentrism?
Consumer ethnocentrism: buying only Made in the USA products
This index measures a country’s well-being using literacy, infant mortality, and life expectancy — rather than income or GDP.
What is the Physical Quality of Life Index (PQLI)?
These economic, cultural, technological, and political connections tie countries, companies, and individuals together through trade, communication, and investment. When oil prices spiked in the Middle East during the 1970s, fuel shortages and inflation rippled across the world - just as today, supply chain issues in China can affect product prices in the U.S.
What are global linkages?
Refers to a strategy in which the offering is placed similarly in the minds of buyers across an entire region or worldwide.
A brand purusing the strategy would maintain a consistent identity and message worldwide.
What is global positioning strategy?
This technology has allowed consumers to supply and receive products from across the world for personal use.
What is the internet?
Roads, ports, power grids, and internet networks are all part of this foundational system that supports a nation’s economy and trade.
It is considered critically important in evaluating marketing operations abroad.
What is infrastructure?
Availabity and quality of infrastructure is considered critically important in evaluating marketing operations abroad.
This economic theory compares what the same amount of money can buy in different countries, often illustrated with the “Big Mac Index.”
It’s often used to compare the cost of living and economic productivity across countries, adjusting for differences in price levels.
What is Purchasing Power Parity (PPP)?
The sale of genuine products through unauthorized distribution channels not intended by the manufacturer.
What is gray market?
When a company sells products in another country at prices lower than in its home market, it may face these protective laws.
What are antidumping laws?
Trade negotiations that are conducted between two nations.
This type risk can be the result of government action, but it can also be outside the control of government.
What is political risk?
Refers to a country making an effort to change and improve its economy with the goal of raising its performance to that of the world's most advanced nations.
What is emerging market?
Integrates the economic and political activities of nations.
What is an economic bloc?
By expanding into international markets, a company can increase production efficiency and lower the cost per unit - a benefit known by this term.
What is economies of scale?
Initially formed in 1944 to aid countries suffering from the destruction of war.
What is the World Bank?
A U.S. company operating in Country X has its factory taken over by the government without payment or compensation.
What is confiscation?
This term describes how much goods and services a unit of currency can buy - and it decreases when prices rise.
It is a function of income, prices, savings, and credit availability.
What is purchasing power?
The act of international marketers seeking ways to influence the regulatory environment in which they must operate in.
What is lobbying?
In this legal system, common in France and Japan, judges apply detailed written statutes rather than relying on precedent. Considered a rigid law system.
What is code law?
These taxes on imported goods are designed to protect domestic industries or generate revenue for governments.
What are tariffs?
A newly founded firm that is established as an internation business from inception.
What is born global?
Countries like the U.S. and Japan fall into this category of markets known for advanced economies, stable governments, and high living standards.
What is a developed market?