IBT FINALS POTAA

International marketing

The application of marketing principles to satisfy the varied needs and wants of different people residing across the national borders.

Glocalization

It is used to refer to the marketing strategies and business methodologies of companies in a foreign market by creation of products for the global market by adapting the local cultures and environment.

Business

An occupation, profession, or trade.

Licensing

A contractual arrangement where the right to use intellectual property or manufacture a product is granted in exchange for a royalty

Franchising

A contractual arrangement which permits the use of business model or brand name for a fee

Labor migration

Residents of one country goes to another country to work.

Joint venture

An undertaking by two or more parties which agree to pool resources for the purpose of accomplishing a specific project

Importer

It refers to a customer who buys the exported goods.

Direct foreign investment

Investing assets directly into a foreign country's buildings equipment or organisation

Total trade

The sum of exports and imports

Globalization

The increasing connectedness and interdependence of world culture and economies

Product

A commodity produced to satisfy the wants and needs of customers

Process

Flow of activities that takes place where an interaction between the customer and business takes place

Market positioning

A strategic tool used to establish the image of a brand or product in the minds of the consumer

Human capital

It is the most important resource of a company as the success of the organization depends on them,

Glocalization

It means the simultancous occurrence of universalization and particularization tendencies in contemporary social, political, and economic systems

Labor migration

It means that the residents of one country goes to another country to work

A wholly owned subsidiary

. A company whose common stock is wholly owned by the parent

Economy of scale

It occurs when the unit cost of a product declines as production volume increases

90%

Abou____of Coca-Cola operating income and 73% of total revenue is generated outside

85%

Tor Japanese countries,____ of their potential is outside Japan.

KFC

Global brand that worked with local property developers to produce store designs based on the look and feel of the area they operate

Canada

In which country can you find the McLobster at a McDonald's branch?

Japan

In which country can you find the Ebi Fillet-O at a McDonald's branch?

France

Mc Donald's branch that replaced its Ronald McDonald mascot with Asterix?

Rebellious reaction

It foster resistance identity defensing local history, traditions, and cultures.

Technological advances

One of the driving forces for development that made the consumers aware of products, services creating a world demand,

Infrastructure

It refers to all the physical systems and facilities needed for a country's day-to-day activity

Economic integration

It revolves around the trade agreements/treaties between countries which usually include trade barriers, fiscal policies leading to a more interconnected global economy

Free trade economic theory

theory which argues that the global economy is better when markets can function with minimal government intervention.

Pestle analysis

A useful scanning tool used to identify external environment that are to be dealt with by international marketers

Michael porter

He identified five factors present in the competitive market applicable in the international marketing environment

JUST IN TIME TECHNOLOGY

An inventory strategy used by companies to increase efficiency and decrease waste by receiving goods only as they need them for the production process which reduces inventory costs

Geography

An important factor of international marketing which refers to the physical features and environment of the earth and its atmosphere

Bargaining power of consumer

Ability of the customers to persuade the sellers to do what they want like reduction of price. This happened when there are more customers than suppliers.

Sociocultural factor

An external environment/ external factor concern about people.

Internet

One of the aspects of the global infrastructure that links countries and people within the globe

Distribution channel

It refers to the links between sellers and buyers in both domestic and international marketing

Export marketing

The simplest level of international marketing involvement wherein the companies engage in this business is to increase the sales and profits

Multinational corporation

They are also known as the resident foreign corporations.

Transnational marketing

An international marketing involvement that operates in multiple countries with decentralized management system and a glocalize approach.

Global marketing

The highest level of international business which does not identify with any home market

Government

A participant in international marketing that build infrastructure, sells bonds and securities in the foreign-capital market

China

The world's largest importer and exporter.

Indirect exporting

A way of exporting wherein a firm do not directly do the exporting instead the intermediary does the exporting.

Semi direct exporting

A way of exporting wherein an exporter initiates the contact through agents and merchants' middlemen.

Technological advances

Consumers nowadays are more well informed and they have more demands and expectations due technological advancement. These demands are what companies going international are trying to address and satisfy.

Threat of new entrants

The more barriers there are, the more the industry becomes attractive.

Threat of substitute products

China is one of the fastest growing nations in the world because of its strategy.

Bargaining power of supplies

The situation when vendors have more superior power when they monopolize the industry

Competition in the industry

A firm must have a competitive advantage to offer higher value than their competitors.

Political

Changes in the government leaders.

Political

Organizational culture

Sociocultural

Concern about the people

Economic

National Income

Economic

Economic Integration

Legal

Trade Regulations and restrictions

Environmental

Climate Change

Technological

Mobile connectivity

Economic

Inflation and deflation

Legal

Consumer protection

Legal

Laws and ordinances

Political

Allocation of government budget

Environmental

Weather and temperature

Economic

National income

Sociocultural

Customs, Lifestyle and Values

Participants in International Marketing

Individuals

Business

Internationals

Involving more than one country around the world

Occupation

-principal work

-living to support

-employment

Profession

Involved specialized education training

Trade

-buying and selling

-merchandise

Corporate social responsibility

Obligation to society, environmental prescribed by law

Exporting

Sells product

Importing

Buying exported goods

Royalty

% of sale of products

Brnach

Maintaining an office in foreign country

Opportunistic reaction

Creation of hybrid

Right hand countries when it comes to driving

-Thailand

-Indonesia

-Singapore

-new Zealand

-japan

Market segmentation

Practice of dividing market into group

Target market

Group of buyer the company wants to serve

Market targeting

Selecting target market

Market positioning

Tools used to establish image of brand in the mind of the consumers

Price

Amount to pay

Physical evidences

Physical environment experience by customer

Reasons to go global

-increase sales and profitability

-enter new market

-create job

-utilized excess capacity

-travel to new countries

Soft infrastructure

Help maintain health economy; human capital

Hard Infrastructure

Transport system (road) , telecommunications

Critical infrastructure

Most essential asset (survival like shelter, medicine)

Bargaining power of consumer

Pursuade seller to do something

Export marketing

-first level

-based in the home country

China imports what

Mineral

fuel

Oil

Iron

Machinery

China exports what

Clothing

Textiles

Toys

Bags

Export partners of china

U.S.

Japan

Korea

European Union

Asean

Import partners of china

European

ASEAN

Japan

Korea

Taiwan

Australia

Brazil

Indirect exporting

Do not directly do the exporting

Types of semi direct exporting

Domestic agent intermediaries

Manufacturers export agent

Export association

Piggy exporting

Direct exporting

Established exporting department

Multinational marketing

Centralized;called resident foreign

Operate more than 1 country

Management headquarters (home)

Operate in several (host)

Transnational marketing

Decentralized

Larger than multinational

Able to glocalize

7m’s initiative of DTI

Mindset change

Mentoring

Mastery

Money

Machines

Market access

Model of business