The document summarizes key concepts in international marketing. It discusses how the globalization of markets requires managers to consider the global environment. International marketing involves performing business activities across borders. To be successful, firms must adapt to environmental differences between countries, such as laws, customs and cultures. The self-reference criterion and ethnocentrism can limit a marketer's ability to understand foreign differences unless they develop global awareness and use strategic orientations like domestic market extension, multinational, or global orientations.
This document provides an overview of computer organization and assembly language concepts including the CPU, registers, memory, and system bus. It summarizes that the CPU contains an execution unit and bus interface unit, uses various registers like general purpose registers and segment registers to store and access data and memory addresses. It describes different types of memory like RAM, ROM, and cache, and how memory is organized into segments and addressed using segment:offset notation. It concludes with an explanation of the system bus that connects the CPU, memory, and I/O devices, and the types of data transfers that occur over the bus.
Microprocessor 8086 instruction descriptionDheeraj Suri
The document discusses assembler programs and emulators for the 8086 microprocessor. It provides the following information:
- An assembler program translates assembly language mnemonics into binary machine codes. It performs two passes through the source code to calculate offsets and produce the final binary output.
- An emulator is a combination of hardware and software that allows programs to run by downloading object code into RAM and simulating the microprocessor. Emulators like EMU8086 allow examining and modifying registers and memory.
- Instructions like AAA, AAS, AAM, and AAD are used to adjust results of numeric operations involving ASCII-encoded digits to produce the proper unpacked Binary Coded Decimal values.
La codificación Manchester es un método de codificación eléctrica de señales binarias donde cada bit tiene una transición a mitad de intervalo. Permite la auto-sincronización al extraer la señal de reloj de los datos, pero consume doble ancho de banda que codificaciones asíncronas. Se usa comúnmente en Ethernet y otras redes.
Free trade agreements are agreements between countries to reduce or eliminate barriers to trade such as tariffs and regulatory laws. They are promoted by organizations like the World Trade Organization to encourage trade without barriers. There are bilateral agreements between two countries as well as multilateral agreements involving more than two countries to broadly liberalize trade across an interdependent global economy.
The document describes the pin diagram and functions of the 8085 microprocessor. It has 40 pins and an 8-bit CPU. Pin 1-2 are for the crystal oscillator input. Pin 3 is the reset output and pin 36 is the reset input. Pin 4 is for serial input and pin 5 is for serial output. There are five hardware interrupts - TRAP, RST 7.5, RST 6.5, RST 5.5, and INTR. The status pins S0 and S1 and the IO/M pin indicate the current bus operation. Pins 12-19 are for the lower address/data bus and pins 21-28 are for the higher address bus. Pin 30 enables the address latch
The document discusses the MOV instruction format and addressing modes in machine language. It explains the opcode, MOD, REG, and R/M fields that specify the operation, addressing mode, registers, and memory addressing. It also covers PUSH and POP instructions for storing and retrieving data from the stack.
Codificadores e descodificadores são circuitos que transformam informações de um código para outro, como binário para decimal ou vice-versa. Codificadores convertem sinais como decimais em binários ou BCD, enquanto descodificadores fazem a conversão inversa. Ambos os circuitos podem ser implementados com portas lógicas ou matrizes de diodos de acordo com suas tabelas-verdade.
This document provides an overview of computer organization and assembly language concepts including the CPU, registers, memory, and system bus. It summarizes that the CPU contains an execution unit and bus interface unit, uses various registers like general purpose registers and segment registers to store and access data and memory addresses. It describes different types of memory like RAM, ROM, and cache, and how memory is organized into segments and addressed using segment:offset notation. It concludes with an explanation of the system bus that connects the CPU, memory, and I/O devices, and the types of data transfers that occur over the bus.
Microprocessor 8086 instruction descriptionDheeraj Suri
The document discusses assembler programs and emulators for the 8086 microprocessor. It provides the following information:
- An assembler program translates assembly language mnemonics into binary machine codes. It performs two passes through the source code to calculate offsets and produce the final binary output.
- An emulator is a combination of hardware and software that allows programs to run by downloading object code into RAM and simulating the microprocessor. Emulators like EMU8086 allow examining and modifying registers and memory.
- Instructions like AAA, AAS, AAM, and AAD are used to adjust results of numeric operations involving ASCII-encoded digits to produce the proper unpacked Binary Coded Decimal values.
La codificación Manchester es un método de codificación eléctrica de señales binarias donde cada bit tiene una transición a mitad de intervalo. Permite la auto-sincronización al extraer la señal de reloj de los datos, pero consume doble ancho de banda que codificaciones asíncronas. Se usa comúnmente en Ethernet y otras redes.
Free trade agreements are agreements between countries to reduce or eliminate barriers to trade such as tariffs and regulatory laws. They are promoted by organizations like the World Trade Organization to encourage trade without barriers. There are bilateral agreements between two countries as well as multilateral agreements involving more than two countries to broadly liberalize trade across an interdependent global economy.
The document describes the pin diagram and functions of the 8085 microprocessor. It has 40 pins and an 8-bit CPU. Pin 1-2 are for the crystal oscillator input. Pin 3 is the reset output and pin 36 is the reset input. Pin 4 is for serial input and pin 5 is for serial output. There are five hardware interrupts - TRAP, RST 7.5, RST 6.5, RST 5.5, and INTR. The status pins S0 and S1 and the IO/M pin indicate the current bus operation. Pins 12-19 are for the lower address/data bus and pins 21-28 are for the higher address bus. Pin 30 enables the address latch
The document discusses the MOV instruction format and addressing modes in machine language. It explains the opcode, MOD, REG, and R/M fields that specify the operation, addressing mode, registers, and memory addressing. It also covers PUSH and POP instructions for storing and retrieving data from the stack.
Codificadores e descodificadores são circuitos que transformam informações de um código para outro, como binário para decimal ou vice-versa. Codificadores convertem sinais como decimais em binários ou BCD, enquanto descodificadores fazem a conversão inversa. Ambos os circuitos podem ser implementados com portas lógicas ou matrizes de diodos de acordo com suas tabelas-verdade.
The document discusses several key topics in international marketing:
1) The increasing globalization and internationalization of American businesses as markets and competition expand globally.
2) The definition of international marketing as business activities conducted across national borders.
3) The importance of adapting to environmental differences between countries, such as laws, customs, and cultures, in order to successfully market products and services abroad.
4) How the self-reference criterion and ethnocentrism can limit international marketers' ability to understand foreign markets, and the importance of developing global awareness to overcome these challenges.
The document discusses several key aspects of global marketing:
1) As globalization increases, firms face competition from around the world and many seek foreign markets to boost profits.
2) There are differences in uncontrollable environmental factors between country markets that require firms to adapt their marketing mix.
3) The self-reference criterion and ethnocentrism can impede assessing foreign markets accurately, relying too heavily on domestic norms. Adaptation to other cultures is important for global awareness and success.
This document outlines the key topics and assignments for an international marketing course. It includes chapters from the textbook on topics like cultural dynamics, global marketing research, and international marketing management. The assignments require students to analyze controllable and uncontrollable elements of entering a new global market with a selected product, develop a cultural analysis and marketing plan, and identify an appropriate international marketing channel. Grading is based on attendance, coursework, midterm and final exams.
International marketing refers to marketing activities carried out across national borders. It involves applying the same marketing principles used domestically but on a global scale. International marketing is more complex than domestic marketing due to differing legal, cultural, political, and economic factors between countries. The key functions of international marketing include choosing market entry strategies, selecting target markets and products, and developing appropriate pricing, distribution, and communications strategies for foreign audiences.
The document provides an introduction to international marketing, including definitions of key terms, differences between international and domestic marketing, and challenges in international marketing. It discusses the international marketing concept, environmental forces companies must consider, and stages of international marketing involvement ranging from no direct foreign marketing to global marketing. Language barriers, standardization-customization issues, and ethnocentrism are highlighted as major obstacles international marketers face.
1. The document discusses the increasing globalization of markets and importance of understanding international marketing. It outlines theories of international trade and the evolution of global marketing strategies from domestic to multinational and global approaches.
2. Key points covered include the growth of emerging Asian and Latin American markets, factors driving companies to look beyond domestic markets, and how marketing strategies must adapt from ethnocentric to geocentric approaches over time.
3. Theories of comparative advantage, international product cycles, and internalization are presented in the context of international trade and investment strategies. Stages in the evolution of global marketing and examples of each stage are also summarized.
Over view of internationa lmarketing SIDDANNA M BALAPGOLSiddanna Balapgol
This document provides an overview of international marketing. It defines international marketing and discusses the major reasons companies become involved in international markets. It also describes the major actors in international marketing, including multinational corporations, exporters, importers, and service companies. Additionally, it covers the scope of international marketing and some of the challenges companies face, such as differences in market characteristics, cultural factors, political conditions, industry standards, marketing institutions, legal restrictions, and trade barriers across countries.
This document discusses various considerations for developing an effective global marketing strategy. It covers 6 key steps: 1) Understanding the global marketing environment. 2) Deciding whether to enter international markets. 3) Choosing which markets to enter. 4) Determining the best method of market entry. 5) Developing an appropriate global marketing program. 6) Establishing an optimal global marketing organization structure. The document provides an overview of factors to analyze within each of these 6 steps to systematically plan an international expansion.
The document provides an overview of the topics covered in four units of an International Marketing course. Unit 1 discusses definitions, theories, reasons for internationalization, and market entry strategies. Unit 2 covers political, legal, and economic factors of the international environment. Unit 3 focuses on India's export and import policies and procedures. Unit 4 addresses international product, pricing, distribution, communication policies and case studies. Reference books are also provided. The document outlines the key concepts and issues to be addressed in each unit of an International Marketing course.
This document provides an overview of international marketing. It begins by defining international marketing as marketing across national boundaries to satisfy human needs and wants. It discusses reasons why companies become involved in international markets, including to increase profits through economies of scale. It then describes major actors in international marketing, such as multinational corporations, exporters, and importers. The document outlines how the scope of international marketing has broadened to include industries like retail, services, and advertising. Finally, it discusses challenges in international marketing, including differences in market characteristics, cultural factors, political conditions, and industry conditions between countries. Adaptation may be needed to address these differences.
The document discusses global marketing and international business decisions. It covers factors in the global marketing environment like exchange rates, trade barriers, and corruption. It also discusses reasons for companies to expand internationally like competing globally or accessing new markets. The document outlines decisions for international market selection, market entry methods, developing a global marketing program, and global organizational structure.
International marketing involves planning and executing business activities to direct the flow of goods and services to consumers in more than one country. It considers both uncontrollable factors like politics, economics, and competition, as well as controllable factors such as price, product, promotion and channels. Firms can have different orientations when conducting international marketing such as polycentric, regiocentric, or geocentric. The benefits of international marketing include potential for growth, sales, profits, and understanding global business operations.
(1) Globalization has increased opportunities for international trade and access to new markets. More countries are open to trade which allows for greater market expansion possibilities.
(2) Advances in technology like the internet have made it easier for companies to identify, research, and reach customers in other countries. Communication and transportation barriers have lowered.
(3) Economic growth in emerging markets is creating many new customers overseas, driving demand for foreign goods and services. As the middle class expands globally, more consumers can afford imported products.
The document discusses several key aspects of global marketing:
1) It identifies various ways for firms to enter global markets, from low-risk options like exporting to higher-risk/reward options like direct foreign investment.
2) It describes the external environment facing global marketers, including factors like culture, economic conditions, political structures, and natural resources in foreign countries.
3) It explains the importance of adapting the global marketing mix of product, price, place, and promotion to different country conditions in order to succeed internationally.
This document discusses key concepts in international marketing. It begins by outlining learning objectives and definitions. It then discusses the scope of international marketing tasks and cultural obstacles like self-reference criterion and ethnocentrism. The document outlines stages of international marketing involvement from infrequent to global marketing. It also differentiates orientations like viewing international markets as ancillary versus a global orientation.
Global marketing - international marketing definedRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
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This document discusses several key topics in international marketing including major challenges to business today, the marketing mix, target markets and segmentation, marketing management philosophies, orientations towards marketing, international trade initiatives like the WTO and IBRD, and trade blocks. It also provides an overview of the international marketing planning process and essential elements of an international marketing plan.
The document discusses the changing global business environment and increasing internationalization of American companies. It covers key topics in international marketing including adapting to different cultural and environmental contexts, avoiding ethnocentrism, and developing global awareness. Companies progress through different stages of involvement in international markets from no direct foreign marketing to global marketing orientation.
The document discusses the changing global business environment and increasing internationalization of American companies. It covers key topics in international marketing including adapting to different cultural environments, avoiding ethnocentrism, and the progression from occasional foreign sales to a global marketing orientation. International marketing is defined as planning, pricing, promoting, and distributing a company's goods and services across national borders for a profit.
The document discusses several key topics in international marketing:
1) The increasing globalization and internationalization of American businesses as markets and competition expand globally.
2) The definition of international marketing as business activities conducted across national borders.
3) The importance of adapting to environmental differences between countries, such as laws, customs, and cultures, in order to successfully market products and services abroad.
4) How the self-reference criterion and ethnocentrism can limit international marketers' ability to understand foreign markets, and the importance of developing global awareness to overcome these challenges.
The document discusses several key aspects of global marketing:
1) As globalization increases, firms face competition from around the world and many seek foreign markets to boost profits.
2) There are differences in uncontrollable environmental factors between country markets that require firms to adapt their marketing mix.
3) The self-reference criterion and ethnocentrism can impede assessing foreign markets accurately, relying too heavily on domestic norms. Adaptation to other cultures is important for global awareness and success.
This document outlines the key topics and assignments for an international marketing course. It includes chapters from the textbook on topics like cultural dynamics, global marketing research, and international marketing management. The assignments require students to analyze controllable and uncontrollable elements of entering a new global market with a selected product, develop a cultural analysis and marketing plan, and identify an appropriate international marketing channel. Grading is based on attendance, coursework, midterm and final exams.
International marketing refers to marketing activities carried out across national borders. It involves applying the same marketing principles used domestically but on a global scale. International marketing is more complex than domestic marketing due to differing legal, cultural, political, and economic factors between countries. The key functions of international marketing include choosing market entry strategies, selecting target markets and products, and developing appropriate pricing, distribution, and communications strategies for foreign audiences.
The document provides an introduction to international marketing, including definitions of key terms, differences between international and domestic marketing, and challenges in international marketing. It discusses the international marketing concept, environmental forces companies must consider, and stages of international marketing involvement ranging from no direct foreign marketing to global marketing. Language barriers, standardization-customization issues, and ethnocentrism are highlighted as major obstacles international marketers face.
1. The document discusses the increasing globalization of markets and importance of understanding international marketing. It outlines theories of international trade and the evolution of global marketing strategies from domestic to multinational and global approaches.
2. Key points covered include the growth of emerging Asian and Latin American markets, factors driving companies to look beyond domestic markets, and how marketing strategies must adapt from ethnocentric to geocentric approaches over time.
3. Theories of comparative advantage, international product cycles, and internalization are presented in the context of international trade and investment strategies. Stages in the evolution of global marketing and examples of each stage are also summarized.
Over view of internationa lmarketing SIDDANNA M BALAPGOLSiddanna Balapgol
This document provides an overview of international marketing. It defines international marketing and discusses the major reasons companies become involved in international markets. It also describes the major actors in international marketing, including multinational corporations, exporters, importers, and service companies. Additionally, it covers the scope of international marketing and some of the challenges companies face, such as differences in market characteristics, cultural factors, political conditions, industry standards, marketing institutions, legal restrictions, and trade barriers across countries.
This document discusses various considerations for developing an effective global marketing strategy. It covers 6 key steps: 1) Understanding the global marketing environment. 2) Deciding whether to enter international markets. 3) Choosing which markets to enter. 4) Determining the best method of market entry. 5) Developing an appropriate global marketing program. 6) Establishing an optimal global marketing organization structure. The document provides an overview of factors to analyze within each of these 6 steps to systematically plan an international expansion.
The document provides an overview of the topics covered in four units of an International Marketing course. Unit 1 discusses definitions, theories, reasons for internationalization, and market entry strategies. Unit 2 covers political, legal, and economic factors of the international environment. Unit 3 focuses on India's export and import policies and procedures. Unit 4 addresses international product, pricing, distribution, communication policies and case studies. Reference books are also provided. The document outlines the key concepts and issues to be addressed in each unit of an International Marketing course.
This document provides an overview of international marketing. It begins by defining international marketing as marketing across national boundaries to satisfy human needs and wants. It discusses reasons why companies become involved in international markets, including to increase profits through economies of scale. It then describes major actors in international marketing, such as multinational corporations, exporters, and importers. The document outlines how the scope of international marketing has broadened to include industries like retail, services, and advertising. Finally, it discusses challenges in international marketing, including differences in market characteristics, cultural factors, political conditions, and industry conditions between countries. Adaptation may be needed to address these differences.
The document discusses global marketing and international business decisions. It covers factors in the global marketing environment like exchange rates, trade barriers, and corruption. It also discusses reasons for companies to expand internationally like competing globally or accessing new markets. The document outlines decisions for international market selection, market entry methods, developing a global marketing program, and global organizational structure.
International marketing involves planning and executing business activities to direct the flow of goods and services to consumers in more than one country. It considers both uncontrollable factors like politics, economics, and competition, as well as controllable factors such as price, product, promotion and channels. Firms can have different orientations when conducting international marketing such as polycentric, regiocentric, or geocentric. The benefits of international marketing include potential for growth, sales, profits, and understanding global business operations.
(1) Globalization has increased opportunities for international trade and access to new markets. More countries are open to trade which allows for greater market expansion possibilities.
(2) Advances in technology like the internet have made it easier for companies to identify, research, and reach customers in other countries. Communication and transportation barriers have lowered.
(3) Economic growth in emerging markets is creating many new customers overseas, driving demand for foreign goods and services. As the middle class expands globally, more consumers can afford imported products.
The document discusses several key aspects of global marketing:
1) It identifies various ways for firms to enter global markets, from low-risk options like exporting to higher-risk/reward options like direct foreign investment.
2) It describes the external environment facing global marketers, including factors like culture, economic conditions, political structures, and natural resources in foreign countries.
3) It explains the importance of adapting the global marketing mix of product, price, place, and promotion to different country conditions in order to succeed internationally.
This document discusses key concepts in international marketing. It begins by outlining learning objectives and definitions. It then discusses the scope of international marketing tasks and cultural obstacles like self-reference criterion and ethnocentrism. The document outlines stages of international marketing involvement from infrequent to global marketing. It also differentiates orientations like viewing international markets as ancillary versus a global orientation.
Global marketing - international marketing definedRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
Official fb page: facebook.com/reconnectt
Official fb group: facebook.com/groups/reconnecting.tech/
Rights are reserved for this presentation. Please inbox 1st to get permission to use this
This document discusses several key topics in international marketing including major challenges to business today, the marketing mix, target markets and segmentation, marketing management philosophies, orientations towards marketing, international trade initiatives like the WTO and IBRD, and trade blocks. It also provides an overview of the international marketing planning process and essential elements of an international marketing plan.
The document discusses the changing global business environment and increasing internationalization of American companies. It covers key topics in international marketing including adapting to different cultural and environmental contexts, avoiding ethnocentrism, and developing global awareness. Companies progress through different stages of involvement in international markets from no direct foreign marketing to global marketing orientation.
The document discusses the changing global business environment and increasing internationalization of American companies. It covers key topics in international marketing including adapting to different cultural environments, avoiding ethnocentrism, and the progression from occasional foreign sales to a global marketing orientation. International marketing is defined as planning, pricing, promoting, and distributing a company's goods and services across national borders for a profit.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Training: ISO/IEC 27001 Information Security Management System - EN | PECB
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International marketing is hard work. Companies have to be prepared to confront myriad obstacles with optimism and a willingness to continue learning new ways. Indeed, the salient lesson for those involved in international commerce at the turn of the 21st century is to expect the unexpected. The successful businessperson in the 21st century will have global awareness and a frame of reference that goes beyond a region or even a country and encompasses the world. But international marketing is important work. It can enrich you, your family, your company, and your country. And ultimately, when international marketing is done well, by large companies or small, the needs and wants of customers in other lands are well understood, and prosperity and peace are promoted along the way. Follow along with the slides (or open book) as we cover Chapter 1 – the scope and challenge of international marketing.
What should you learn in Chapter 1? We will cover: The changing face of U.S. business; The scope of the international marketing task; The importance of the self-reference criterion (SRC) in international marketing; The progression of becoming a global marketer, and The increasing importance of global awareness.
Global commerce thrives during peacetime. Consider Boeing Company – with more than 11,000 commercial jets in service around the world, carrying about one billion travelers per year – the world has become a smaller place. And, all the activity associated with the development, production, and marketing of commercial aircraft and space vehicles requires millions of people from around the world to work together. Building both business and personal relationships is the foundation of global peace and prosperity. Another class of companies that promotes global dialogue and therefore peace is the mobile phone industry. During 2007 more than one billion new mobile phones were purchased around the world connecting more than one-quarter of all people on the planet. Individuals and small companies also make a difference, perhaps a subtler one than large multinational companies, but one just as important in the aggregate. Whether or not a U.S. company wants to participate directly in international business, there is one undeniable fact: international markets are ultimately unpredictable. In order to survive, organizations have to be flexible.
Of all the events and trends affecting global business today, four stand out as the most dynamic, the ones that will influence the shape of international business beyond today’s “bumpy roads” and far into the future: the rapid growth of the World Trade Organization and regional free trade areas such as the North American Free Trade Area and the European Union; the trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe; the burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders; and the mandate to properly manage the resources and global environment for the generations to come.
With the increasing globalization of markets, companies find they are unavoidably enmeshed with foreign customers, competitors, and suppliers, even within their own borders. Technology, research, capital investment, production, marketing, distribution, and communications networks all have global dimensions. Currently, foreign investment in the United States is more than $16.3 trillion, some $2.6 trillion more than American overseas investment. Honda, BMW, and Mercedes entered the U.S. market through exporting their products into the United States. When they realized sufficient market share, they built and bought manufacturing plants in the United States. For a growing number of companies, being international is no longer a luxury but a necessity for economic survival. A four-year Conference Board study of 1,250 U.S. manufacturing companies found that multinationals of all sizes and in all industries outperformed their strictly domestic U.S. counterparts. They grew twice as fast in sales and earned significantly higher returns on equity and assets.
Today, many familiar U.S. companies are foreign controlled or headed in that direction. When you drop in at a 7-Eleven convenience store or buy Firestone tires, you are buying directly from a Japanese company. Pearle Vision, Universal Studios, and many more are currently owned or controlled by foreign multinational businesses as shown in Exhibit 1.1. Companies from the United Kingdom lead the group of investors, with companies from the Netherlands, Japan, Germany, and Switzerland following in that order.
Exhibit 1.2 illustrates how important revenues generated on investments abroad are to U.S. companies. In many cases, foreign sales were greater than U.S. sales, demonstrating the global reach of these American brands. Apple’s performance has been most impressive with total revenues exploding from just $6 billion in 2003 to $24 billion in 2007. Meanwhile, the company maintained its traditional level of 40% revenues from outside the U.S. Companies that never ventured abroad until recently are now seeking foreign markets. Companies with existing foreign operations realize they must be more competitive to succeed against foreign multinationals. They have found it necessary to spend more money and time improving their marketing positions abroad because competition for these growing markets is intensifying. For firms venturing into international marketing for the first time and for those already experienced, the requirement is generally the same: a thorough and complete commitment to foreign markets and, for many, new ways of operating.
International marketing is the performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit. The only difference between the definitions of domestic marketing and international marketing is that in the latter case marketing activities take place in more than one country. This apparently minor difference, “in more than one country,” accounts for the complexity and diversity found in international marketing operations. Marketing concepts, processes, and principles are universally applicable, and the marketer’s task is the same whether doing business in Dimebox, Texas, or Dar es Salaam, Tanzania. The uniqueness of foreign marketing comes from the range of unfamiliar problems and the variety of strategies necessary to cope with different levels of uncertainty encountered in foreign markets.
Exhibit 1.3 illustrates the total environment of an international marketer. The inner circle depicts the controllable elements that constitute a marketer’s decision area, the second circle encompasses those environmental elements at home that have some effect on foreign-operation decisions, and the outer circles represent the elements of the foreign environment for each foreign market within which the marketer operates. As the outer circles illustrate, each foreign market in which the company does business can (and usually does) present separate problems involving some or all of the uncontrollable elements. The successful manager constructs a marketing program designed for optimal adjustment to the uncertainty of the business climate.
Marketers must be able to effectively interpret the influence and impact of each of the uncontrollable environmental elements on the marketing plan for each foreign market in which they hope to do business. Cultural adjustment is the most challenging and important task confronting international marketers. Because judgments are derived from experience that is the result of acculturation in the home country, marketers must be aware of the frames of reference they are using in making their decisions or evaluating the potential of a market. Once a frame of reference is established, it becomes an important factor in determining or modifying a marketer’s reaction to situations—social and even nonsocial. Cultural conditioning is like an iceberg—we are not aware of nine-tenths of it. In any study of the market systems of different peoples, their political and economic structures, religions, and other elements of culture, foreign marketers must constantly guard against measuring and assessing the markets against the fixed values and assumptions of their own cultures.
The key to successful international marketing is adaptation to the environmental differences from one market to another. Adaptation is a conscious effort on the part of the international marketer to anticipate the influences of both the foreign and domestic uncontrollable factors on a marketing mix and then to adjust the marketing mix to minimize the effects. The primary obstacles to success in international marketing are a person’s self-reference criterion (SRC) and an associated ethnocentrism.
SRC is an unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions. Your SRC can prevent you from being aware of cultural differences or from recognizing the importance of those differences. Thus you might fail to recognize the need to take action, you might discount the cultural differences that exist among countries, or you might react to a situation in a way offensive to your hosts. A common mistake made by Americans is to refuse food or drink when offered. In the United States, a polite refusal is certainly acceptable, but in Asia or the Middle East, a host is offended if you refuse hospitality. Although you do not have to eat or drink much, you do have to accept the offering of hospitality. Understanding and dealing with the self-reference criterion are two of the more important facets of international marketing. Closely connected is ethnocentrism – the notion that one’s own culture or company knows best how to do things. Ethnocentrism is generally a problem when managers from affluent countries work with managers and markets in less affluent countries. Both the SRC and ethnocentrism impede the ability to assess a foreign market in its true light.
Ethnocentrism and the SRC can influence an evaluation of the appropriateness of a domestically designed marketing mix for a foreign market. The most effective way to control the influence of ethnocentrism and the SRC is to recognize their effects on our behavior. In order to avoid many of the mistakes possible in international marketing, it is important to have an awareness of the need to be sensitive to differences and to ask questions when doing business in another culture. For example, asking the appropriate question helped the Vicks Company avoid making a mistake in Germany. It discovered that in German “Vicks” sounds like the crudest slang equivalent of “intercourse,” so they changed the name to “Wicks” before introducing the product.
To avoid errors in business decisions, the knowledgeable marketer will conduct a cross-cultural analysis that isolates the SRC influences and will maintain a vigilance regarding ethnocentrism. The following steps are suggested as a framework for such an analysis. Define the business problem or goal in home-country cultural traits, habits, or norms. Define the business problem or goal in foreign-country cultural traits, habits, or norms through consultation with natives of the target country. Make no value judgments. Isolate the SRC influence in the problem and examine it carefully to see how it complicates the problem, and Redefine the problem without the SRC influence and solve for the optimum business goal situation.
The cross-cultural analysis approach requires an understanding of the culture of the foreign market as well as one’s own culture. Surprisingly, understanding one’s own culture may require additional study because much of the cultural influence on market behavior remains at a subconscious level and is not clearly defined. Opportunities in global business abound for those who are prepared to confront myriad obstacles with optimism and a willingness to continue learning new ways. The successful businessperson in the 21st century will have global awareness and a frame of reference that goes beyond a region or even a country and encompasses the world. To be globally aware is to have (1) tolerance of cultural differences and (2) knowledge of cultures, history, world market potential, and global economic, social, and political trends.
Global awareness can and should be built in organizations using several approaches. The obvious strategy is to select individual managers specifically for their demonstrated global awareness. Global awareness can also be obtained through personal relationships in other countries. Indeed, market entry is very often facilitated through previously established social ties. Certainly, successful long-term business relationships with foreign customers often result in an organizational global awareness based on the series of interactions required by commerce. Foreign agents and partners can also help directly in this regard. But perhaps the most effective approach is to have a culturally diverse senior executive staff or board of directors. Unfortunately, American managers seem to see relatively less value in this last approach than managers in most other countries.
In general, one of five (sometimes overlapping) stages can describe the international marketing involvement of a company. These include: No direct foreign marketing, Infrequent foreign marketing, Regular foreign marketing, International marketing, and Global marketing. Rather than progressing from one stage to another; a firm may begin its international involvement at any one stage or be in more than one stage simultaneously. For example, because of a short product life cycle and a thin but widespread market for many technology products, many high-tech companies large and small see the entire world, including their home market, as a single market and strive to reach all possible customers as rapidly as possible.
A company in the “no direct foreign marketing” stage does not actively cultivate customers outside national boundaries; however, this company’s products may reach foreign markets. Sales may be made to trading companies as well as foreign customers who directly contact the firm. Or products may reach foreign markets via domestic wholesalers or distributors who sell abroad without explicit encouragement or even knowledge of the producer. As companies develop Web sites on the Internet, many receive orders from international Web surfers. Often an unsolicited order from a foreign buyer is what piques the interest of a company to seek additional international sales.
Temporary surpluses caused by variations in production levels or demand may result in infrequent marketing overseas. Hence, sales to foreign markets are made as goods are available, with little or no intention of maintaining continuous market representation. As domestic demand increases and absorbs surpluses, foreign sales activity is reduced or even withdrawn. In this stage, little or no change is seen in company organization or product lines. However, few companies today fit this model because customers around the world increasingly seek long-term commercial relationships. Further, evidence exists that financial returns from initial international expansions are limited.
When a firm has permanent production capacity devoted to foreign markets, it has reached the “regular foreign marketing” stage. At this point, the firm may employ foreign or domestic overseas intermediaries, or it may have its own sales force or sales subsidiaries in important foreign markets. While the primary focus of operations and production is to service domestic market needs, as overseas demand grows, production is allocated for foreign markets, and products may be adapted to meet their needs. Profit expectations from foreign markets move from being seen as a bonus to regular domestic profits to a position in which the company becomes dependent on foreign sales and profits to meet its goals.
At the global marketing level, the most profound change is the orientation of the company toward markets and associated planning activities. At this stage, companies treat the world, including their home market, as one market. Market segmentation decisions are no longer focused on national borders. Instead, market segments are defined by income levels, usage patterns, or other factors that often span countries and regions. Often this transition from international marketing to global marketing is catalyzed by a company’s crossing the threshold of more than half its sales revenues coming from abroad. The best people in the company begin to seek international assignments, and the entire operation – organizational structure, sources of finance, production, marketing, and so forth – begins to take on a global perspective.
Unfortunately, the stages of international marketing involvement do not necessarily coincide with managers’ thinking and strategic orientations. Often companies are led into international and even global markets by burgeoning consumer or customer demands, and strategic thinking is secondary to “filling the next order.” But putting strategic thinking on the back burner has resulted in marketing failures for even the largest companies. The consensus of the researchers and authors in the area reveals three relatively distinctive approaches that seem to dominate strategic thinking in firms involved in international markets: Domestic market extension concept, Multi-domestic market concept, and Global marketing concept. Differences in the complexity and sophistication of a company’s marketing activity depend on which orientation guides its operations.
The first of these concepts, the domestic market orientation, is illustrated by a domestic company seeking to extend the sales of its domestic products into foreign markets. It views its international operations as secondary to and an extension of its domestic operations -- with the primary motive to market excess domestic production. Domestic business is its priority, and foreign sales are seen as a profitable extension of domestic operations. Even though foreign markets may be vigorously pursued, the firm’s orientation remains basically domestic. Its attitude toward international sales is typified by the belief that if it sells in St. Louis it will sell anywhere else in the world. Minimal, if any, efforts are made to adapt the marketing mix to foreign markets. This domestic market extension strategy can be very profitable; large and small exporting companies approach international marketing from this perspective. Firms with this marketing approach, such as Meter-Man, are classified as ethnocentric.
Once a company recognizes the importance of differences in overseas markets and the importance of offshore business to the organization, its orientation toward international business may shift to a multi-domestic market strategy. A company guided by this concept has a strong sense that country markets are vastly different and that market success requires an almost independent program for each country. Firms with this orientation market on a country-by-country basis, with separate marketing strategies for each country. Subsidiaries operate independently of one another in establishing marketing objectives and plans, have separate marketing mixes, and have little interaction with each other. Products are adapted for each market with little coordination with other country markets; advertising campaigns are localized, as are the pricing and distribution decisions. A company with this concept does not look for similarity among elements of the marketing mix that might respond to standardization; rather, it aims for adaptation to local country markets. Control is typically decentralized to reflect the belief that the uniqueness of each market requires local marketing input and control. Firms with this orientation would be classified as polycentric. Fedders, as it progresses in its plans, fits this orientation.
A company guided by the global marketing orientation or philosophy is generally referred to as a global company; its marketing activity is global, and its market coverage is the world. This type of firm strives for efficiencies of scale by developing a standardized marketing mix applicable across national boundaries. Markets are still segmented, but country or region is considered side by side with a variety of other segmentation variables, such as consumer characteristics (age, income, language group), usage patterns, and legal constraints. The world as a whole is viewed as the market, and the firm develops a global marketing strategy. The global marketing company would fit the regiocentric or geocentric classifications. Coca-Cola Company, Ford Motor Company, and Intel are among the companies that can be described as global companies.
Most problems encountered by the foreign marketer result from the strangeness of the environment within which marketing programs must be implemented. Success hinges, in part, on the ability to assess and adjust properly to the impact of a strange environment. The successful international marketer possesses the best qualities of the anthropologist, sociologist, psychologist, diplomat, lawyer, prophet, and businessperson. Consequently, the orientation of this text can best be described as an environmental/cultural approach to international strategic marketing. It is intended to demonstrate the unique problems of international marketing. Although marketing principles are universally applicable, the cultural environment within which the marketer must implement marketing plans can change dramatically from country to country. It is with the difficulties created by different environments that this text is primarily concerned. Finally, International Marketing offers an overview of international marketing, ranging from the marketing and business practices of small exporter to the practices of global companies.
In light of all the variables involved, with what should a text in foreign marketing be concerned? It is the opinion of the authors that a study of foreign marketing environments, people, and cultures and their influences on the total marketing process is of primary concern and is the most effective approach to a meaningful presentation. Exhibit 1.4 – the most recent ranking of countries on their extent of globalization (in trade, travel, technology, and links to the rest of the world) supports that viewpoint. Even though the United States is near the top of the list, most of the “Global Top 20” are small countries. However, the key conclusion to be drawn from the graph is the dominance of “technological connectivity” for America. In particular, notice that as a country the United States is weakest on the “personal contact” dimension. Compared to folks in other countries, Americans generally do not experience foreign environments. This lack is the gap our book focuses on.
Let’s summarize Chapter 1. First, the internationalization of American business is proceeding with increasing pace. The globalization of markets and competition necessitates all managers to pay attention to the global environment. International marketing is defined as the performance of business activities including pricing, promotion, product, and distribution decisions across national borders.
The international marketing task is made more daunting because environmental factors such as laws, customs, and cultures vary from country to country. These environmental differences must be taken into account if firms are to market products and services at a profit in other countries. Key obstacles facing international marketers are not limited to environmental issues. Just as important are difficulties associated with the marketer’s own self-reference criteria and ethnocentrism. Both limit the international marketer’s abilities to understand and adapt to differences prevalent in foreign markets.
A global awareness and sensitivity are the best solutions to these problems, and these should be nurtured in international marketing organizations. Three different strategic orientations are found among managers of international marketing operations. Some see international marketing as ancillary to the domestic operations. A second kind of company sees international marketing as a crucial aspect of sales revenue generation but treats each market as a separate entity. Finally, a global orientation views the globe as the marketplace and market segments are no longer based solely on national borders—common consumer characteristics and behaviors come into play as key segmentation variables applied across countries.