Dynamics of International Business

Flashcards covering key concepts from Dynamics of International Business related to various strategies and organizational structures.

Multidomestic Strategy

A decentralized strategy that customizes products according to local needs, favoring responsiveness over efficiency.

Global Strategy

A centralized strategy offering standardized products across all markets, focusing on cost savings from standardization.

Low-cost Strategy

A business-level strategy that exploits economies of scale to achieve the lowest cost structure in the industry.

Differentiation Strategy

A business-level strategy where products are designed to be perceived as unique, justifying a price premium.

Focus Strategy

A strategy that targets a narrow market segment by being the low-cost leader, differentiating, or both.

Corporate-level Strategy

Focuses on what business or businesses a company should be in and how to add value to its subsidiaries.

Push Strategy

A promotional strategy designed to create buyer demand by directly meeting consumers.

Pull Strategy

A promotional strategy that naturally draws consumer interest to a product or service.

Product Adaptation/Communications Extension

Adapting products for international markets while retaining original marketing communications.

Dual Pricing

Setting different selling prices for a product in export markets compared to the home market.

International Division Structure

An organizational structure that allows for autonomy among groups with a separate international division.

Global Matrix Structure

An organizational model where employees report to multiple bosses based on projects, enhancing knowledge sharing.