WGU D174 MOD 3 MARKETING MANAGEMENT
Global experience learning curve - answers - international markets, as
Companies expand getting more international experience
What are the 4 stages of global experience? - answers - no foreign, foreign,
international, global
No foreign - answers - business conducted through intermediaries, limited direct
Contact, no formal internal channel relationships,
Foreign - answers - formal international strategy, developing local
Intermediaries: distribution/service representation, products modified to
Fit international requirements
International - answers - manufacture products outside domestic markets,
Incorporates international division
Global - answers - all world markets are single markets w/ many different
Segments, more than ½ of companies' revenues are generated abroad
5 basic types of information (global market research) - answers - 1. Economic
enviornment
2. Culture, societal trends
3. Business enviornment
4. Political/ legal landscape
5. Specific mrkt conditions/competitors
Multinational regional market zones - answers - groups of countries that create formal
relationships for mutual economic benefit through tariffs and reduced trade barriers
What forms multinational regional market zones? - answers - economic, geographic,
proximity, political, cultural similarities
What are the 4 regional market zones? - answers - mercosur, asean, european union,
nafta
Mercosur - answers - south american market zone (chile, brazil, argentina, paraguay,
Uruguay
Asean - answers - asian market zone (indonesia, malaysia, china, japan, south korea
European union - answers - europe market zone austria, belgium, bulgaria, croatia,
czech republic, denmark, estonia, finland, france, germany) etc
, Nafta - answers - north american free trade agreement (now replaced w/ usmca
Agreement - us, mexico, canada)
Global market entry strategies - answers - exporting, contractual agreements, strategic
alliances, ownership
Exporting - answers - most common, minimal investment/little risk - initial entry
Strategy and not a long-term approach
Aspects of exporting - answers - market entry strategies, internet, exported and
distributor, direct
Sales force
Two examples of contractual agreements - answers - licensing, franchising
Licensing - answers - local partnerships are required by law, legal restrictions,
Limited financial resources
Franchising - answers - access to foreign market w/ local ownership > supply
Products, services, management expertise in return for market
Knowledge, financial gains
Strategic alliances - answers - partnered companies spreading risk, each
Company maintaining independence
International joint venture - answers - partners set up a separate legal entity
W/ new identity different from other alliances in management duties,
Equity position, legal ventures, etc.
Ownership - answers - greater risk, potential long-term growth
Direct foreign investment - answers - timing, legal issues, transactions costs,
Technology xfer, product differentiation, marketing communication
Barriers
Emerging markets - answers - source of significant economic growth and therefore
market opportunities
What goes into global marketing strategies? - answers - organizational structure
decisions, product decisions, consumer decisions, channel decisions, marketing comm
decisions, pricing decisions
Why is organizational structure important for companies in global markets? - answers -
decision making authority
Degree of centralization
Global experience learning curve - answers - international markets, as
Companies expand getting more international experience
What are the 4 stages of global experience? - answers - no foreign, foreign,
international, global
No foreign - answers - business conducted through intermediaries, limited direct
Contact, no formal internal channel relationships,
Foreign - answers - formal international strategy, developing local
Intermediaries: distribution/service representation, products modified to
Fit international requirements
International - answers - manufacture products outside domestic markets,
Incorporates international division
Global - answers - all world markets are single markets w/ many different
Segments, more than ½ of companies' revenues are generated abroad
5 basic types of information (global market research) - answers - 1. Economic
enviornment
2. Culture, societal trends
3. Business enviornment
4. Political/ legal landscape
5. Specific mrkt conditions/competitors
Multinational regional market zones - answers - groups of countries that create formal
relationships for mutual economic benefit through tariffs and reduced trade barriers
What forms multinational regional market zones? - answers - economic, geographic,
proximity, political, cultural similarities
What are the 4 regional market zones? - answers - mercosur, asean, european union,
nafta
Mercosur - answers - south american market zone (chile, brazil, argentina, paraguay,
Uruguay
Asean - answers - asian market zone (indonesia, malaysia, china, japan, south korea
European union - answers - europe market zone austria, belgium, bulgaria, croatia,
czech republic, denmark, estonia, finland, france, germany) etc
, Nafta - answers - north american free trade agreement (now replaced w/ usmca
Agreement - us, mexico, canada)
Global market entry strategies - answers - exporting, contractual agreements, strategic
alliances, ownership
Exporting - answers - most common, minimal investment/little risk - initial entry
Strategy and not a long-term approach
Aspects of exporting - answers - market entry strategies, internet, exported and
distributor, direct
Sales force
Two examples of contractual agreements - answers - licensing, franchising
Licensing - answers - local partnerships are required by law, legal restrictions,
Limited financial resources
Franchising - answers - access to foreign market w/ local ownership > supply
Products, services, management expertise in return for market
Knowledge, financial gains
Strategic alliances - answers - partnered companies spreading risk, each
Company maintaining independence
International joint venture - answers - partners set up a separate legal entity
W/ new identity different from other alliances in management duties,
Equity position, legal ventures, etc.
Ownership - answers - greater risk, potential long-term growth
Direct foreign investment - answers - timing, legal issues, transactions costs,
Technology xfer, product differentiation, marketing communication
Barriers
Emerging markets - answers - source of significant economic growth and therefore
market opportunities
What goes into global marketing strategies? - answers - organizational structure
decisions, product decisions, consumer decisions, channel decisions, marketing comm
decisions, pricing decisions
Why is organizational structure important for companies in global markets? - answers -
decision making authority
Degree of centralization
