MKT 305 Exam queries and answers
graded 100%
After a company decides to go global what is there very next decision? - ANS✅✅the next decision
should be what is our level of involvement going to be?
Customization - ANS✅✅context of international marketing to a country-tailored product strategy
which focuses on cross-border differences in the needs and wants of target customers, appropriately
changing products in order for them to match local market conditions.
International Levels of Involvement - ANS✅✅Exporting
Contractual Agreement
Direct Foreign Investment
What is the lowest level of involvement - ANS✅✅Exporting
What is the highest level of involvement - ANS✅✅Foreign Direct Investment
Two types of exporting - ANS✅✅Export trading companies
Export management companies
What are Export trading companies - ANS✅✅its a deal, contract, and the selling of excess
inventory to the trading company.
They buy %100 of products, ownership, and right from you.
what are Export management companies - ANS✅✅mainly consultants. They are your agent nd
broker.
What are the Types of contractual agreements - ANS✅✅Franchising
Licensing
Contract manufacturing
, What is Licensing - ANS✅✅a contractual agreement whereby a company may use another
company's trademark in exchange for a royalty or fee
What is contract manufacturing and who owns what? - ANS✅✅when American companies
manufacture their products in factories out of the country because of lower production and labor
cost.
The company does not own the plant/factory, but they make standards
Types of Foreign Direct Investment and what are they? - ANS✅✅-Joint ventureship: partnership
with a forging company
-100% ownership/Wholly owned: the company owns it all, but the land (except in US)
What is nationalization - ANS✅✅a risk of going international and its when the government takes
over the foreign company located in their country
What are the types of international strategies? - ANS✅✅-Straight Extension
-Promotion Adaptation
-Product Adaptation
-Dual adaptation
-Product Invention
What is straight extension and what else is called - ANS✅✅where a company changes next to
nothing because they feel their product has universal appeal
-only change language or other small important changes ******It is also called universal or global
approach
What is product invention - ANS✅✅the company creates and entirely new product and entirely
new brand
Characteristics of External Environments - ANS✅✅-uncontrollable
-external to the firm, not internal
-proactive rather than the reactive
-dynamic
graded 100%
After a company decides to go global what is there very next decision? - ANS✅✅the next decision
should be what is our level of involvement going to be?
Customization - ANS✅✅context of international marketing to a country-tailored product strategy
which focuses on cross-border differences in the needs and wants of target customers, appropriately
changing products in order for them to match local market conditions.
International Levels of Involvement - ANS✅✅Exporting
Contractual Agreement
Direct Foreign Investment
What is the lowest level of involvement - ANS✅✅Exporting
What is the highest level of involvement - ANS✅✅Foreign Direct Investment
Two types of exporting - ANS✅✅Export trading companies
Export management companies
What are Export trading companies - ANS✅✅its a deal, contract, and the selling of excess
inventory to the trading company.
They buy %100 of products, ownership, and right from you.
what are Export management companies - ANS✅✅mainly consultants. They are your agent nd
broker.
What are the Types of contractual agreements - ANS✅✅Franchising
Licensing
Contract manufacturing
, What is Licensing - ANS✅✅a contractual agreement whereby a company may use another
company's trademark in exchange for a royalty or fee
What is contract manufacturing and who owns what? - ANS✅✅when American companies
manufacture their products in factories out of the country because of lower production and labor
cost.
The company does not own the plant/factory, but they make standards
Types of Foreign Direct Investment and what are they? - ANS✅✅-Joint ventureship: partnership
with a forging company
-100% ownership/Wholly owned: the company owns it all, but the land (except in US)
What is nationalization - ANS✅✅a risk of going international and its when the government takes
over the foreign company located in their country
What are the types of international strategies? - ANS✅✅-Straight Extension
-Promotion Adaptation
-Product Adaptation
-Dual adaptation
-Product Invention
What is straight extension and what else is called - ANS✅✅where a company changes next to
nothing because they feel their product has universal appeal
-only change language or other small important changes ******It is also called universal or global
approach
What is product invention - ANS✅✅the company creates and entirely new product and entirely
new brand
Characteristics of External Environments - ANS✅✅-uncontrollable
-external to the firm, not internal
-proactive rather than the reactive
-dynamic
