Get help now
  • Pages 3
  • Words 521
  • Views 259
  • Download


    Verified writer
    • rating star
    • rating star
    • rating star
    • rating star
    • rating star
    • 4.9/5
    Delivery result 5 hours
    Customers reviews 984
    Hire Writer
    +123 relevant experts are online

    Thendy Essay

    Academic anxiety?

    Get original paper in 3 hours and nail the task

    Get help now

    124 experts online

    INTERNATIONAL MARKETING92% of the worlds consumers live outside the U. S. Thus, international marketing is very important.

    When selling to foreign markets, one must realize that there are major differences between other countries & the U. S. Aside from political and legal differences, there are economic, technological, social (family, religion, education, health . . .

    ) & cultural differences. Each 1 billion in trade deficit yields a loss of 25,000 jobs. See text for how international trade is measured and protectionism vs. free trade. Gray Goods – Goods imported from unauthorized dealer; problem = no manufacturers warranty. Dumping = Sale of export goods at less than normal value (less than cost or less than home-country price).

    Strategic Adaptations Of The Marketing Mix1Keep The Product & Promotion The Same Worldwide (Global Marketing)- e. g. , world brands such as Coca Cola and Marlboro. – Theodore Levitt is the guru of the globalization or global marketing approach. – Promotion mix elements such as advertising present the biggest problem to standardizing a marketing strategy across all borders because promotion is based on a communication process, which can differ from country to country – even if the languages are the same (e. g.

    , the U. S. & the U. K. ). 2Adapt Only The Promotion – e.

    g. , in most of the world, bicycles are promoted as transportation; in U. S. as leisure. 3Adapt Only The Product – e. g.

    , Canadians prefer a more bitter beer; Barbie looks Asian in Japan. 4Adapt Promotion & Product – e. g. , American cereals in Asia = snack food; therefore, need different flavors (e.

    g. , tofu). 5Backward Invention – Simplify product & use less technology. This makes the product more affordable & usable in certain foreign markets. Some Ways To Operate In Foreign Markets 1Exporting – A company sells what it produces to foreign markets via export merchants (e. g.

    , export trading companies) or export agents (e. g. , export management companies) or a firms own sales branches. Risk of tariff & devaluation. 2Direct Investment & Ownership – Investment in production and or distribution facilities can occur either through a wholly-owned foreign subsidiary or a joint venture with a foreign company. Risk of nationalization.

    Joint Ventures – domestic & foreign firms become partners. Strategic Alliance – a formal long-term agreement between firms in order to accomplish global objectives without formal ownership by either company. 3Contracting (Licensing, Franchising, Contract Manufacturing & Management Contracting)Licensing = selling rights to name, process or patent for a fee or royalty; e. g. , magazines such as Cosmopolitan & Playboy; Ampex licensed VCR technology to Japan.

    Contract Manufacturing – Domestic firm contracts with a foreign firm to do production; marketing is done by domestic firm. Management Contracting – Seller provides management skills only; e. g. , Hilton Hotels. 3 Major Risks In Intl Mktg:1Radical Change In Government – a companys factories may be nationalized. 2Change In Export Rates – foreign currency may be devalued; a firm may want to hedge with options.

    E. g. , many tech firms hurt by Asian economic crisis. 3Foreign Markets May Impose Tariffs, Taxes, Quotas On Your Product – They do so to make imports more expensive relative to domestic goods. Words/ Pages : 498 / 24

    This essay was written by a fellow student. You may use it as a guide or sample for writing your own paper, but remember to cite it correctly. Don’t submit it as your own as it will be considered plagiarism.

    Need custom essay sample written special for your assignment?

    Choose skilled expert on your subject and get original paper with free plagiarism report

    Order custom paper Without paying upfront

    Thendy Essay. (2019, Jan 26). Retrieved from

    We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

    Hi, my name is Amy 👋

    In case you can't find a relevant example, our professional writers are ready to help you write a unique paper. Just talk to our smart assistant Amy and she'll connect you with the best match.

    Get help with your paper